Quiz 11: Relationship Marketing and Customer Relationship Management CRM

Business

Goods: The tangible products that the customers can see, taste, hear, touch or smell are defined as goods. Services: The intangible tasks that gratify the needs of the customers and business users are defined as services. Services cannot be felt by senses directly. Custom-made suit: A custom-made suit is a mix of goods and services. It is a combination of the physical goods of well stitched suiting and intangible services of stitching from the tailor.

Company NB has opened a new store in Country C. It was an effective move adopted by the company, as Country C has the highest population across the globe. Besides this, consumers of the country possess higher per capita income and purchasing power. Presence of the above factors is favorable for establishment of a new retail store in the country. Existence of large customer base would help to generate higher sales and revenue for the company. Customers of this country belong to the same society and cultural background; therefore, promotion cost required to attract them would be considerably low.

A range along which the goods and services are distinctly positioned into different categories based on their attributes is defined as goods-service continuum. The mentioned products are classified into goods-service continuum in follow manner: img • S is video conferencing software rendering telecommunication service to user. It does not offer any physical product and thus is a pure service. • N is an online streaming media for watching television programs. It provides media service to its subscribers. The service is only provided to the subscribers and is not open for all therefore it is not a pure service. • T is an online company involved in contracting and selling flowers. It picks flowers from the florists and delivers it to the place of order. It is more inclined to provide product than service. • KD sells cars and offers services and repairs. Hence it is a mixture of goods and service. • KDS sells all types of convenient goods and other consumer goods on large scale. It is categorized as pure goods as it caters only in products.