Question 1

Xerox serves a diverse set of customers in the business market.  
First,describe how Xerox might develop a portfolio of relationship strategies to meet the needs of such diverse customer groups. Second,some customers in each group are more costly to serve than others. How should such cost differences be reflected in the particular relationship strategies that Xerox follows? Third,what strategies can Xerox follow to increase the switching costs of customers in Group B or Group C?

Accepted Answer

The answer of Xerox serves a diverse set of customers...

Question 2

____________________ consist of unwritten and largely nonverbalized sets of congruent expectations and assumptions held by the parties to the alliance about each other's prerogatives and obligations.

Accepted Answer

The answer of ____________________ consist of unwritten and largely nonverbalized...

Question 3

The most profitable customers are those that have a high____________________and a low____________________.

Accepted Answer

The answer of The most profitable customers are those that...

Question 4

Rather than adopting the approach of "one design fits all," the astute marketer matches the strategy to the product and market conditions that surround a particular account. Describe the product and market conditions that support a collaborative relationship? a transactional relationship?

Accepted Answer

The answer of Rather than adopting the approach of "one...

Question 5

Large firms tend to make up the majority of the most profitable customers AND of the least profitable customers. What are some of the characteristics that define both high-cost-to-serve and low-cost-to-serve customers? What can business marketers do to manage high and low cost-to-serve customers?

Accepted Answer

The answer of Large firms tend to make up the...

Question 6

Some customers place a high value on supporting services (for example,technical advice and training)and are willing to pay a premium price for this support. Other customers do not value service support and are extremely price sensitive in making product selection decisions. Describe how a business marketer might profitably serve each of these customer segments.

Accepted Answer

The answer of Some customers place a high value on...

Question 7

To optimize the purchasing strategy,buying firms across industries are beginning to segment the supply base: buyers seek a close relationship for strategic purchases and employ a more distant arm's-length approach in procuring non-strategic items. Describe the resulting implications for firms that are evaluating potential customers to target with relationship marketing strategies.

Accepted Answer

The answer of To optimize the purchasing strategy,buying firms across...

Question 8

As software manufacturers and consulting organizations diffuse best practices,and the relevant CRM software becomes widely available and economical to use,all competitors will be equally equipped. However,when compared to rivals,some firms will be rewarded by customers with higher rates of customer loyalty and lower rates of defection while others will continue to stumble. In the end,to excel at customer relationship management,a firm requires a customer-relating capability. Describe the central elements of a customer-relating capability and how it can provide a firm with a strong advantage over competitors.

Accepted Answer

The answer of As software manufacturers and consulting organizations diffuse...

Question 9

Value is best defined as the economic,technical,service and social benefits received by a customer firm in exchange for the:

Accepted Answer

The answer of Value is best defined as the economic,technical,service...

Question 10

Please identify the three main components of a strong customer-relating capability and how each component helps develop a strong customer-relating capability. How does customer-relating capability lead to a relationship advantage?

Accepted Answer

The answer of Please identify the three main components of...

Question 11

Gartner Group,a research firm for information technology users,reports that 55 percent of all customer relationship management software projects fail to produce results. Worse yet,one in every five companies report that their CRM initiatives not only had failed to deliver profitable growth but also had damaged long-standing customer relationships. Experts suggest that these problems tend to occur when executives mistake CRM technology for a customer strategy. First,define customer relationship management (the cross-functional process)and describe how CRM technology (the software)allows a firm to provide customized treatment of key customers. Second,describe the central components of a customer relationship management strategy and the way in which CRM technology can support each strategy component.

Accepted Answer

The answer of Gartner Group,a research firm for information technology...

Quiz 3: Customer Relationship Management Strategies for Business Markets

____________________ consist of unwritten and largely nonverbalized sets of congruent expectations and assumptions held by the parties to the alliance about each other's prerogatives and obligations.

The most profitable customers are those that have a highand a low.

Rather than adopting the approach of "one design fits all," the astute marketer matches the strategy to the product and market conditions that surround a particular account. Describe the product and market conditions that support a collaborative relationship? a transactional relationship?

Large firms tend to make up the majority of the most profitable customers AND of the least profitable customers. What are some of the characteristics that define both high-cost-to-serve and low-cost-to-serve customers? What can business marketers do to manage high and low cost-to-serve customers?

Value is best defined as the economic,technical,service and social benefits received by a customer firm in exchange for the:

Please identify the three main components of a strong customer-relating capability and how each component helps develop a strong customer-relating capability. How does customer-relating capability lead to a relationship advantage?