RELATIONSHIP MANAGEMENT - GROUP 5

1.What is essential in relationship management?

• Striving for victory 

• Understanding the needs, desires, and goals of both parties

•  Demonstrating dominance 

• Creating competition

What is the goal of relationship management?

• To create tension

• To dominate the partner

• To maintain stability and sustainable development in the relationship

• To achieve personal benefits

Is Relationship Marketing a new concept?

• YES

• NO

"Utilising information" in relationship marketing refers to what? 

• Using information efficiently to optimize advertising strategies and interactions with customers or business partners 

•  Using information randomly to increase sales

• Using information inaccurately to create personalized experiences for customers

•  Using information broadly without specific goals

 What does the SOSTAC model stand for in the context of marketing planning and strategy management?

•  Social, Objectives, Strategy, Tactics, Action, Control

• Situation, Objectives, Strategy, Tactics, Action, Control

•  Strategic, Objectives, Statistics, Tactics, Action, Control

• Satisfaction, Objectives, Strategy, Tactics, Action, Control

Why is situational analysis important in Relationship Management (RM) according to the SOSTAC model?

• It helps shape the organization's brand image

• It focuses on product development strategies

• It determines the pricing strategy for products and services

• It provides a basis for a comprehensive assessment of the organization and its environment

Businesses should avoid falling into outdated marketing

• Understand customers

• 1. Interact with customers

• Create creative, valuable content

• 1. All answers above

Is RM really a new phenomenon? Are RM goals always important to marketing?

• RM is not a new phenomenon, and the goals of RM are not always important to marketing.

• RM is a new phenomenon but the goal of RM is not always important for marketing.

• RM is not a new phenomenon, but the purpose of RM has always been important to marketing.

• Both, RM is a new phenomenon and the goal of RM has always been important to marketing

Why are SMART criteria important in defining objectives within the context of marketing and relationship management?

• They prioritize creative and innovative approaches

•  They emphasize strategic alignment and feasibility

• They focus on short-term gains rather than long-term relationships

• They are unrelated to the overall organizational strategy

Corruption and ethical concerns are pressing issues that can arise within social bonds in business-to-business (B2B) situations. What can be a consequence of corruption in social relationships between businesses?

• Increased cooperation and trust among business partners

• Enhanced market competition and fair trade practices

• Inequality, resource wastage, and harm to the economy

•  Strengthened ethical values and moral standards in business transactions