战略营销Test-BankChapter-7-Question-Bank-7-28-2017.docx

Marketing Strategy: Based on First Principles and Data AnalyticsMarketing Strategy:Based on First Principles and Data AnalyticsQuestion BankChapter 7 Question BankMULTIPLE CHOICE QUESTIONS1. Relationship equity in combination with brands and offerings, in turn can lead to _a. Sustainable advantageb. Sustainable competitive advantagec. Sustainable brand advantaged. None of the aboveAnswer: B2. Which of these trends decrease RM strategies in a country?a. Shift to goods economiesb. Increasing use of marketing channelsc. Increased global competition, “me too” offerings, and faster “product” commoditizationd. All of the aboveAnswer: A3. Aggregation of relational assets and liabilities, associated with the firms boundary-spanning employees and social networks linked to the offering is known as _a. Relationship Equityb. Brand equityc. Employee equityd. None of the aboveAnswer: A4. Social exchange theory has established that _ and _ are central to strong business relationshipsa. Commitment, relationshipsb. Trust, Relationshipsc. Commitment, Trustd. Relationships, integrityAnswer: C5. As a means to create value beyond what each individual firm could do on its own, _ increases customers flexibility and adaptiveness to sellers requests for changes, information, or _a. Reciprocation, Commitmentb. Commitment, Cooperationc. Cooperation, Reciprocationd. None of the aboveAnswer: C6. A diverse, authoritative contact portfolio increases a sellers ability to effect change in its customers organizations _a. Relationship Qualityb. Relationship Compositionc. Relationship Breadthd. None of the AboveAnswer: B7. Coordinated, complementary actions between partners to achieve a mutual goal is called _a. Relationship loyaltyb. Empathic behaviorsc. Cooperative behaviorsd. None of the aboveAnswer: C8. The likelihood that customer provides seller benefits in exchange process due to their relational ties and attitudes is called _ a. Relationship loyaltyb. Empathic behaviorsc. Cooperative behaviorsd. None of the aboveAnswer: A9. Because it is not affected by switching costs or lack of time or motivation, _ provides an effective indicator of customer loyalty; only customers with strong, trusting relationships are likely to risk their reputations by advocating a seller to another potential customer a. Gratitudeb. Customer life time valuec. Word of mouthd. All of the aboveAnswer: C10. _ leads to a greater likelihood of being influenced by perceptions of the sellers position.a. Relationship loyaltyb. Empathic behaviorsc. Cooperative behaviorsd. None of the aboveAnswer: B11. Long-term RM success thus often depends more on _ than _.a. Preventing the bad, promoting the good b. Promoting the good, preventing the bad c. Flexibility than consistencyd. Consistency than flexibilityAnswer: A12. Bystanders despise the unfair treatment they receive which in turn _a. Harms loyalty and annual sales intentionsb. Does not harm loyalty and annual sales intentionsc. Has no effect on loyaltyd. Improves sales for targeted customersAnswer: A13. When contextual factors _ a customers relationship orientation, they also _ its receptivity to relationship building, prompting more effective RM.a. Increase, Decreaseb. Decrease, Increasec. Stay the same, Increased. Increase, IncreaseAnswer: D14. _ encourages strong customer-seller relationships through compensation policies, evaluative systems. a. Product category dependenceb. Relational Normsc. Relationship-centric reward systemd. Relationship pronenessAnswer: C15. Business-to-business markets offer _ complexity, such that they require adaption and relational _structuresa. Lower, Governanceb. Greater, Governancec. Greater, Transactionald. Lower, TransactionalAnswer: B16. Preventing customer perceptions of unfairness; may be “highest impact” relationship marketing strategy since ita. Prevents small negative effectb. Suppresses negative effects of other negative activitiesc. Induces punishing or retaliatory behaviorsd. All of the AboveAnswer: B17. If a seller does not offer relationship marketing benefits of its own accord it does not show evidence of _ in the relationshipa. Contractual behaviorb. Free willc. Mandated Behaviord. Motivated behaviorAnswer: B18. Relationships have the smallest payoffs in _ in _, 37% lesser than the U.S.a. Germany, Netherlandsb. Japan, Norwayc. Norway, Netherlandsd. China, NorwayAnswer: C19. In general, relationship marketing is more effective whena. Product dependence is highb. Category involvement is lowc. Industry has low relational normsd. None of the aboveAnswer: A20. Even successful relationships can enter the recovery stage in response to events of passive neglect such asa. Failure to communicateb. Ending investmentsc. Unfairnessd. All of aboveAnswer: D21. Relationship equity is built in two steps: First, a firm needs to develop a strong _ that supports relationship building and maintenance. Then, the firm can begin to implement relationship marketing and loyalty programs targeted at _. a. Lowest price adopters, foundationb. Customer segment, lowest price adoptersc. Customer segment, foundationd. Foundation, customer segmentsAnswer: D22. Financial RM programs provide financial benefits, in the form of _a. Special discountsb. Giveawaysc. Free shippingd. All of the aboveAnswer: D23. Relationships typically peak during the _ stage.a. Growthb. Maturityc. Earlyd. DeclineAnswer: B24. The linkages between relationships and financial performance operate through four mechanisms, including increased cooperation, _, word-of-mouth, and_.a. Commitment, Empathetic behaviorsb. Loyalty, Trustc. Trust, Commitmentd. Loyalty, Empathetic behaviorsAnswer: D25. Factors that help leverage the effectiveness of RM delivery include free will, _, risk, and _.a. Governance, Motiveb. Motive, Valuec. Value, Competitive advantaged. Governance, Competitive advantageAnswer: B26. Sellers need to leverage their RM investments by designing and delivering programs that increase their customers perceptions of the sellers free will, _, risk, and _.a. Benevolence, Costb. Trust, Costc. Commitment, Trustd. Benevolence, CommitmentAnswer: A27. Because so many drivers of customer relationships revolve around _, sellers need to dedicate specific relationship marketing investments to motivate such employees.a. dedicationb. targeted marketingc. boundary spanners d. communication expertsAnswer: C28. When contextual factors increase a customers_, or desire to engage in a strong relationship, they increase its receptivity to relationship building, prompting more effective RM.a. loyaltyb. relationship orientation c. commitmentd. trustAnswer: BTRUE/FALSE QUESTIONS 29. Relationship Marketings (RM) influence on decision making is supported by the underlying psychological emotion of gratitude, which leads to a desire to repayAnswer: TRUE30. The linkages between relationships and financial performance operate through four mechanisms, including increased commitment, loyalty, word-of-mouth, and empathetic behaviors.Answer: FALSE (first one is cooperation)31. The most effective RM strategies emphasize positive factors such as seller expertise, communication, relationship investment, and similarity while minimizing negative factors such as unfairness and conflict.Answer: TRUE32. The effect of negative activities on relationships is only half as strong as positive activities; it is more important to prevent negative events while continuing positive RM.Answer: FALSE33. Bystanders of loyalty programs often perceive their treatment as unfair; this is why loyalty program preferential treatment should be invisible to bystanders.Answer: TRUE34. Some of the factors that determine a customers brand orientation are relationship proneness, exchange and product uncertainty.Answer: FALSE (relationship orientation)35. Because RM is not effective for all customers, sellers must determine where to allocate RM resources across their customer portfolios.Answer: TRUE36. Factors that help leverage the effectiveness of RM delivery include free will, motive, risk, and profits.Answer: FALSE (last is value)37. Relationships operate through a typical lifecycle with four phases: exploration, growth, maturity, and decline/recovery. Each phase requires different RM strategies.Answer: TRUE38. There are two steps to building relationship equity: developing a strong relationship foundation and implementing targeted brand marketing.Answer: FALSE (targeted loyalty programs)39. To understand the effectiveness of RM efforts, firms should measure their relational equity on an ongoing basis and link it to customer lifetime value.Answer: TRUEESSAY TYPE QUESTIONS40. Write a short note about why relationships equity represents an important source of sustainable competitive advantage.Answer: Marketing Principle #3 focuses on building and maintaining barriers, or sustainable competitive advantages (SCAs), to competitive attacks, based on the premise that competitors react continually to a firms success. Investments in building a firms relationship equity by developing B2B and B2C relationships can represent a strong barrier to competitors. Relationship equity refers to the aggregation of relational assets and liabilities, associated with the firms boundary-spanning employees and social networks linked to the offering or experience, that add to or subtract from the value provided by the firms offering. Efforts to build relationship equity often come after generating brand and value equities, because relational interactions are part of the product and service delivery or experience, which occurs after the product is designed and launched and brands have been promoted to the targeted customer segment. Yet, relationships powerfully affect behavior; relational-based decision making is ingrained in peoples psyches. For example, nearly one-third of human brain activity focuses on relational interactions, because they support cooperation and evolutionary advances. The varied psychological processes and emotions associated with relational or seemingly relational interactions (e.g., giftgratitude, angerpunishment, guiltreciprocation, lovehate) help explain customers responses to marketers actions and thus the effectiveness of RM. 41. Write a short note about the benefits from relationship equity.Answer: Relationship marketing efforts seek to improve relationship characteristics (e.g., quality, breadth) with an exchange partner and build relationship equity, in the hope of ultimately improved financial performance. That is, RM activities do not affect financial performance directly. Instead, they help build relationship equity, which influences customer behaviors, which improves the sellers financial outcomes. This chain of effects operates through four mechanisms. Gratitude and reciprocity, together with trust and commitment, largely capture the effects of interpersonal relationship marketing and explain the strong empirical support for the impact of interpersonal relationships on customer decision making. Beyond these theoretical foundations, relationship theory also needs to encompass:-Relationship quality: Similar to the notion of tie strength (i.e., relational bonds between actors) from network theory, the quality of relational bonds with an exchange partner refers to diverse interaction characteristics, such as commitment, trust, gratitude, reciprocity norms, and exchange efficiency. -Relationship breadth: As a measure of the number of relational bonds with an exchange partner, this dimension suggests that when relationships feature many interpersonal ties, they can provide information, profit opportunities, and protections against severed ties (e.g., due to reorganizations, turnover). -Relationship composition: A diverse, authoritative contact portfolio increases a sellers ability to effect change in its customers organizations. With diverse contacts, the seller can confirm information across different perspectives and gain access to critical decision makers. 42. Write a short note about why maintaining relationships is important, from the standpoint of negative events.Answer: A negative event can overwhelm an accumulation of positive activities. Long-term RM success thus often depends more on preventing the bad than on promoting the good. Negative activities generally have approximately twice as strong an effect as positive activities, but not all negative events are the same. Perceived unfairness or betrayal is probably the most potent relationship poison, with direct and powerful negative effects, such as undermining customer cooperation, flexibility, and performance. It also aggravates the negative effects of more conventional activities, such as daily conflict, disagreements, or opportunism. A party that invests heavily in the relationship, only to have the partner free-ride or cheat, seeks to punish this failure to reciprocate. Perceptions of unfairness thus lead directly to emotional, punitive, and retaliatory behaviors. For example, customers often leave only after some perceived unfairness pushes them to expend the substantial effort and cost required to switch to another brand. 43. Write a short note about targeting and adapting relationships marketing strategies.Answer: Various causal drivers thus are responsible for RM effectiveness and building relationship equity; their effects also depend on environmental or contextual factors though. For example, seller expertise might be a strong positive antecedent to relational equity in general, but its influence also depends on whether customers are rebuying a commodity product (e.g., gasoline), in which case they have little interest in expertise, or investing in a highly technical, unfamiliar product (e.g., HDTV), in which case they likely find this RM activity very valuable. Understanding these contingencies can help managers target customers with specific, appropriate, adapted activities and strategies that optimize the returns on their RM investments.44. What are the key stages in a relationship lifecycle?Answer: Most relationships begin with an exploratory or early stage, featuring limited confidence in the partners ability and trustworthiness but also a willingness to explore the relationship to determine if the potential benefits exceed those available f