>> Marketing Management
1. What does the phrase "exchange relationship" mean in relation to marketing?
2. A sales manager at ABC Services Inc. was required to track important marketing metrics each quarter. Give two examples of the marketing metrics this sales manager might report.
3. Tupperware uses a business model that relies on women running their own businesses as agents of Tupperware. Tupperware successfully exports to China and India.
Explain why these countries provide attractive markets for Tupperware.
4. How does a marketing decision support system (MDSS) differ from a marketing information system (MIS)? Why might a marketer want to use an MDSS in addition to an MIS?
5. What is the difference between green marketing and greenwashing?
6. How might a company in the B2B market use a private exchange?
7. A large chain amusement park sells tickets at its main gate for guests who are visiting the park for just that one day. The park also sells seasonal passes that can only be used on weekdays. What market segmentation is being implemented by the amusement park?
8. Why is reselling the customer an important part of the confirmation after the adoption of an innovation?
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Table of Contents
Exchange Relationship 1
Marketing Metrics and Sales Manager 2
Why India and China provide Attractive Markets for Tupperware 3
Difference between Marketing Decision Support System and Marketing Information System 4
Difference between Green Marketing and Green Washing 4
Private Exchange in B2B Market 5
Market Segmentation implemented by Amusement Park 6
The meaning of “exchange relationship” in marketing relates to the notion where a party extends benefits to others with the hope that similar or comparable benefits would be received from the other party in return. It becomes the basis for relationships between firms and consumers. Such relationships ensure more stable and loyal customers for the company as the same are likely to stay with the firm for longer duration. When consumers are provided benefits from the firms, it is done with the intention that the firms would also receive the similar benefits in future for the purpose of developing exchange relationship. This form of relationship ensures long-lasting much for stable relationship among consumers and firms. It also lays emphasis on consumer experience which needs to be positively favoring the business firm. Relationship Marketing or Exchange Relationship Marketing is actually based on beliefs of customer experience management.
The main focus of exchange relationship marketing is customer interactions for better brand loyalty.(Kotler & Armstrong, 2006)The way of communication and interaction with customers must be good and reliable enough and it can be online chat and phone calls etc. Most of the communications are implemented on web. With the advancement of technology, social media has become common and most popular way to communicate with customers. Exchange Relationship in case of marketing can also be made strong with the help of ecommerce. Through these online shopping websites we can communicate with both national and international customers anytime and from anywhere. From websites they get complete and accurate information about products and can buy products according to choice. From this website they can do calling and chatting and can clear their confusion if any. Some software solutions such as CRM are used that supports exchange relationship marketing appropriately. (SearchCRM,. 2015)