Discuss the elements needed to implement successful relationship marketing strategies
What will be an ideal response?
ANSWER: Most successful relationship marketing strategies depend on:Customer-oriented personnel: An employee maybe the only contact a customer has with the firm; in that customer's eyes, the employee is the firm. Any person, department, or division that is not customer oriented weakens the positive image of the entire organization.Training: Training is important to quality customer service and relationship building.Empowerment: In empowerment, delegation of authority is used to solve customer problems quickly, usually by the first person the customer notifies regarding a problem.Teamwork: Teamwork is the collaborative efforts of people to accomplish a common objective. Job performance, company performance, product value, and customer satisfaction all improve when people in the same department or workgroup begin supporting and assisting each other and emphasize cooperation instead of competition.
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_____ is a pattern of shared basic assumptions that a group learned as it solved its problems of external adaptation and internal integration and which has worked well enough to be taught to new members as the correct way to perceive, think, and feel in relation to these problems.?
A) ?Competency mapping B) ?Chronemics C) ?Organizational culture D) ?Ethnocentrism
What do we call a venture that has started successfully, figured out its business model, and has expanded its customer base and product or service offerings?
a. A venture concept b. A prototype c. A scaled-up venture d. An early startup
Factoring is an option available to a business to reduce the risk of uncollectible accounts receivable
Indicate whether the statement is true or false
DGT Industries expects to sell 470 units of Product A and 410 units of Product B each day at an average price of $25 for Product A and $28 for Product B
The expected cost for Product A is 45% of its selling price and the expected cost for Product B is 65% of its selling price. DGT Industries has no beginning inventory, but it wants to have a four-day supply of ending inventory for each product. Compute the budgeted purchases for the next (seven-day) week. (Round the answer to the nearest dollar.) A) $89,247 B) $92,920 C) $162,610 D) $140,245