16 Questions
What are the differences between a transaction-based and a relationship-based orientation in marketing?
Transaction-based marketing focuses on individual sales transactions, while relationship-based marketing emphasizes long-term customer satisfaction, loyalty, and building strong customer-supplier relationships.
When and how did the relationship orientation arise within marketing?
The relationship orientation arose within marketing in the late 20th century as a response to the limitations of transaction-based marketing. It emphasizes long-term customer satisfaction and loyalty.
What is the meaning of customer–supplier relationships?
Customer–supplier relationships refer to the interactions, trust, and commitment between customers and suppliers, emphasizing a more human approach in business interactions.
How can we assess the quality or strength of relationships in terms of interactions, trust, and commitment?
The quality or strength of relationships can be assessed through analyzing the frequency and depth of interactions, the level of trust established, and the commitment shown by both parties towards each other.
How can we describe the dynamic of relationships; the relationship life-cycle?
The dynamic of relationships can be described through the relationship life-cycle, which includes stages such as awareness, exploration, expansion, commitment, and dissolution.
How are customer–supplier relationships embedded in less dyadic, networked relationships, such as are seen in social networks and communities?
Customer–supplier relationships are embedded in less dyadic, networked relationships, such as social networks and communities, through the interactions and connections formed within these broader networks, influencing and shaping the customer–supplier dynamic.
When and how did the relationship orientation arise within marketing?
The relationship orientation arose within marketing in the late 1980s and early 1990s, as a response to the increasing importance of customer retention and loyalty.
What are the differences between a transaction-based and a relationship-based orientation in marketing?
A transaction-based orientation focuses on individual sales and short-term profit, while a relationship-based orientation emphasizes building long-term customer relationships, loyalty, and mutual benefit.
What is the meaning of customer–supplier relationships?
Customer–supplier relationships refer to the interactions, trust, and commitment between buyers and sellers, emphasizing mutual benefit and long-term collaboration.
How can we assess the quality or strength of relationships in terms of interactions, trust, and commitment?
The quality or strength of relationships can be assessed through measures of customer satisfaction, repeat purchases, referrals, as well as indicators of trust and commitment such as open communication and willingness to invest resources in the relationship.
How can we describe the dynamic of relationships; the relationship life-cycle?
The dynamic of relationships can be described through stages in the relationship life-cycle, including initiation, growth, maturity, decline, and dissolution, with corresponding changes in interactions, trust, and commitment.
What is the fundamental question a book on customer relationship management should provide an answer to?
The true meaning of a relationship
What reflects the more human approach taken to the subject of customer-supplier relationships?
Relationships between customers and suppliers
In terms of interactions, trust, and commitment, how can the quality or strength of relationships be assessed?
Interactions, trust, and commitment
What is at the heart of the book on customer relationship management?
Relationships between customers and suppliers
What is the dynamic of relationships described as in the text?
The relationship life-cycle
Test your knowledge of customer-supplier relationships and the human approach to customer relationship management with this quiz. Explore the true meaning of relationships in the business context and understand their significance in building strong connections with customers and suppliers.
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