crm final part2

E-shops involve the electronic tendering and procurement of goods and services.

published on January 149 responses 0

38. Marriott Hotels, Virgin Airline, Westpac Bank, Taylor Nelson SOFRES (a market research company), Sears Roebuck and Volvo. They believe that:

a) if employees are satisfied at work they will deliver excellent
experience to their internal and external customers.
b) if employees are not satisfied at work they will deliver excellent
experience to their internal and external customers.

42. ERM strives to:

a) Build long -term relationships with valued customers
b) Build long-term relationships with valued employees

6. CRM does not have to be flexible enough to stay in touch with changing audience (the customer).

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2. Owner/investor relationships are a source of capital that prevent businesses to be established, to operate and grow, and in return they expect the value of that capital to grow.

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23. Shareholder value:

a) cannot be created if the business makes a return on investment
that is greater than the weighted average cost of the capital invested in
the business (WACC).
b) can only be created if the business makes a return on investment
that is greater than the weighted average cost of the capital invested in
the business (WACC)

25. Strategy consulting is :

a) Services around business process re-engineering, process
improvement and best practices for CRM
b) Consulting support for the formulation of customer strategy,
contact strategy, channel strategy, CRM strategy
c) Design and development of application modifi cations, project
management of software package implementation and training

1. Owner/investor relationships are an important source of capital that allows businesses to be established, to operate and grow, and in return they expect the value of that capital to grow.

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17. There are three main strategic motives behind alliances between non- competing firms: market expansion, vertical integration or diversification.

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39. Information needs to be:

Select the two correct answers
a) Shareable
b) Transportable
c) Relevant

34. E-shops:

a) Involves the electronic tendering and procurement of good and
services
b) are a collections of e-shops on a single site
c) Are electronic versions of conventional auctions
d) None of the above

9. Technology implementation - CRM systems enable companies to manage the customer lifecycle more effectively and efficiently.

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3. Shareholder value can only be created if the business makes a return on investment that is greater than the weighted average cost of the capital invested in the business (WACC).

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24. ISO 19011:

a) provides guidelines for both the effectiveness and efficiency of
quality management systems.
b) specifies the requirements of a quality management system when
organizations need to demonstrate their ability to provide products and
services that meet customer or regulatory requirements.
c) describes the fundamentals of quality management systems and
sets out the terminology that is used in quality management systems.
d) None of the above

31. Companies engaged in vendor reduction programmes are pursuing a number of benefits:

Select the four correct answers
a) Reduced transaction costs
b) Increased transaction costs
c) Additional volume discounts
d) Performance compliance
e) Increased technical cooperation
f) Reduced technical cooperation

21. Agents and brokers are the only two different types in value delivery

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30. Fixed costs are:

a) Those that are associated with a particular transaction
b) All the other costs of creating, and maintaining a relationship with
supplier

33. Market positioning:

a) concerned with how you want CRM to be perceived by each
internal market segment.
b) set of tools that marketers use to bring about the results they
want in their target markets.
c) broad qualitative goals, such as winning commitment to the CRM
strategy, motivating employees to adopt new work practices or
developing a culture in which the customer’s voice is central.

31. Most marketing plans address a number of core issues:

Select the four correct answers
a) marketing objectives
b) marketing strategies
c) market segmentation and targeting
d) market positioning
e) marketing mix.

16. Reporting can only be standardized (predefined).

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6. Customer retention is not a specific CRM competence that influence shareholder value.

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4. Shareholder value cannot be created if the business makes a return on investment that is greater than the weighted average cost of the capital invested in the business (WACC).

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21. Employee relationship management (ERM) provides applications, content and services that enhance the value of the employee to the organization and directly affect the activities by which employees create value for the customer

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7. Customer development - effective cross-selling and up-selling grows share of wallet and the value of retained customers.

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40. Agents are commonly used when:

a) a business is small or geographically separated from the markets
served and it doesn’t want or cannot afford to recruit and operate its
own sales team.
b) a business is small or geographically separated from the markets
served and it wants but cannot afford to recruit and operate its own
sales team.

29. Variable costs are:

a) Those that are associated with a particular transaction
b) All the other costs of creating, and maintaining a relationship with
supplier

28. Strategic benefits from EDI include some of the the following:

a) acts as a structural bond that not only symbolizes the
commitment of the participants, but also acts as barrier to exiting the
relationship
b) provides convenient access to accurate customer purchasing and
payment histories and to detailed customer management costs that
can be useful when conducting customer portfolio analysis
c) ensures improved customer service (more accurate and timely
fulfilment)
d) All of the above

17. The data mining process seeks to dentify patterns and relationships in the data, using selection, exploration and modelling processes.

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9. Midmarket CRM suites: this category comprises vendor solutions primarly targeted towards small and medium-sized businesses: organizations with revenues of less than US$1 billion per year and less than 1000 employees

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11. Investors need to understand that CRM, well implemented, does have an influence on shareholder value.

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7. The CRM ecosystem is made up of three major groups: CRM solutions providers, hardware and infrastructure vendors, and service providers.

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32. Marketing objectives:

a) concerned with how you want CRM to be perceived by each
internal market segment.
b) set of tools that marketers use to bring about the results they
want in their target markets.
c) broad qualitative goals, such as winning commitment to the CRM
strategy, motivating employees to adopt new work practices or
developing a culture in which the customer’s voice is central

5. Target market selection is a specific CRM competence that influence shareholder value.

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36. There are three main strategic motives behind alliances between non- competing firms:

Select the three correct answers
a) market expansion
b) market reduction
c) vertical integration
d) horizontal integration
e) diversification

12. Investors need to understand that CRM yields short-term benefits

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36. Mobile synchronized solutions:

a) Include a handheld or laptop device with a small resident database.
b) Typically involve a handheld device.

18. Marketing mix is the set of tools that marketers use to bring about the results they want in their target markets.

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30. Internal marketing:

a) is a planned effort to overcome organizational resistance to
change and to align, motivate and integrate employees towards the
effective implementation of corporate and functional strategies.
b) Deployment of marketing strategies and tactics to the workforce
c) All of the above

38. STARTS stands for:

a) Shareable, transportable, accurate, relevant, timely, secure
b) Shareable, transportable, active, rational, timely, safe

13. The central element in CRM-enabled service is the service request of trouble ticket.

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39. ERM software application stands for:

a) Employer relationship management software application
b) Emloyee relationship management software application

19. The STARTS attributes have driven many companies to develop an IT-based knowledge management system which is capable of capturing, storing, organizing, interpreting (using data-mining tools) and distributing knowledge to users at customer touchpoints, so that marketing, sales and service objectives are accomplished.

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37. Isolateds:

a) Employees who have no customer contract at all
c) Employees who have direct frequent or periodic customer
contract

38. Sponsorship is:

a) the material or financial support of some property.
b) the emotional support of some property

18. Unlike purely internal system, CRM system does not have to be able to operate in the office, out of the office and over the web.

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10. Investors are not justifiably sceptical of new business models

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35. An e-mall:

a) Involves the electronic tendering and procurement of goods and
services
b) Is a collection of e-shops on a single site.

28. Investors:

a) are not justifiably sceptical of new business models
b) are justifiably sceptical of new business models

27. Customer retention:

Is not a specific CRM competence that influence shareholder value.
b) Is a specific CRM competence that influence shareholder value.

22. The ISO 9000 series is:

a) the totality of features and characteristics of a product or service
that bear on its ability to satisfy stated or implied needs
b) is family of related standards that have been developed to help
organizations design, implement and operate effective quality
managements system.
c) All of the above

40. Studies found that employee commitment was connected to company profititability in three ways, select one that is correct:

a) Directly through employee behaviours
b) Directly through customer satisfaction
c) Directly through a reduction in staff absenteeism and turnover

32. Standardized (predefined) reports:

a) Are tipically integrated in CRM software applications, but often need customizationto suit the needs of the organization.
b) Present the user with a selection of tools which can then be used to construct a specific report.

14. Most marketing plans address a number of core issues: marketing objectives, market segmentations and targeting, market positioning, marketing mix.

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26. Failure to comply with quality standards can be:

a) a huge cost for some companies.
b) An insignificant cost for some companies.

2. CRM has evolved only from a range of standalone technologiesv( call centers)

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11. Most CRM solutions are never aligned with primary front-office functions of marketing, sales and services

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37. Wireless online solutions:

a) Include a handheld or laptop device with a small resident database.
b) Typically involve a handheld device.

30. The three levels of analysis in today's CRM system, in increasing order of complexity are:

Select the three correct answers
a) Standard reporting
b) Online reporting
c) Online analytical processing(OLAP)
d) Data mining

19. Many companies believe that happy employees make happy customers make unhappy shareholders

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27. B2B organizations :

a) Are all the same: in size, structure , buying roles and
transactional histories
b) Are not all the same: vary in size, structure , buying roles and
transactional histories

39. Partners in value delivery:

a) Agents
b) Brokers
c) Management contractors
d) Consortia
e) Franchisees
f) Licensees
g) All of the above

8. Customer acquisition - a key component of strategic CRM is the development of value propositions that customers prefer over competitors and want to buy.

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41. System integration:

a) If the customer does not offer their password, automatically navigate the user to the customer identification screen
b) If the customer submits a confirmed order, automatixally post it to the fulfillment system for verification and despatch

29. Investors need to understand that CRM:

a) well implemented, does have an influence on shareholder value.
b) when well implemented, influences both sides of the profit
equations: cost and revenues
c) yields long-term benefits
d) all of the above

26. Value proposition development

a) a key component of strategic CRM
b) a key component of collaborative CRM

15. Most marketing plans address two of core issues: marketing objectives, market segmentations and targeting

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23. ISO 9000 describes

a) the fundamentals of quality management systems and sets out
the terminology that is used in quality management systems.
b) provides guidelines for both the effectiveness and efficiency of
quality management systems.
c) provides guidance on auditing quality management systems.

33. B2B e-commerce is a:

a) Much less significant phenomenon than B2C e-commerce.
b) Much more significant phenomenon than B2C e-commerce.

3. Customer expectations have played a direct role in the emergance of CRM technology.

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17. Marketing objectives - these might include broad qualitative goals, such as winning commitment to the CRM strategy, motivating employees to adopt new work practices or developing a culture in which the customer’s voice is central.

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41. The role of the broker is to:

a) separate buyer and seller.
b) bring together buyer and seller.

35. Analytical intelligence does not contain:

a) Data mining
b) Predictive modelling
c) Delivery
d) Forecasting
e) Simulation
f) Optimization

1. CRM has evolved from a range of standalone technologies including call centers, sales-force automation systems and customer information files (CIF), some of which date back to the 1970s and earier.

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27. Electronic data interchange (EDI) :

a) Enables suppliers and customers to trade electronically.
b) Prevent suppliers and customers to trade electronically.

32. The categories that dominate consumer spending are:

Select the six correct answers
a) Computer hardware
b) Movie and event tickets
c) Automotive
d) Office supplies
e) Consumer electronics
f) Child and baby products
g) makeup and cosmetics
h) branded clothing and footwear

34. Marketing mix:

a) concerned with how you want CRM to be perceived by each
internal market segment.
b) set of tools that marketers use to bring about the results they
want in their target markets.
c) broad qualitative goals, such as winning commitment to the CRM
strategy, motivating employees to adopt new work practices or
developing a culture in which the customer’s voice is central.

22. Owner/investor relationships:

a) are an important source of capital that allows businesses to be
established
b) are an important source of capital that prevent businesses to be
established

24. McKinsey, Peppers and Rogers are examples of which service:

a) Technical consulting
b) Application consulting
c) Strategy consulting

31. Reporting can be:

a) Standardized
b) Predefined
c) Query-based
d) Ad hoc
e) All of the above

35. Market segmentation and targeting:

a) set of tools that marketers use to bring about the results they
want in their target markets.
a) Involves dividing the internal market into homogenous subsets so
that you can target each group with a different marketing mix

29. Many companies market and sell through channel members or service through specialist partners. This is known as:

a) Strategic CRM
b) Collaborative CRM
c) Analytical CRM

14. Many companies market and sell through channel members or service through special partners, and this is known as analitical CRM

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42. A consortium:

a) is a group of organizations that act cooperatively for mutual
benefit.
b) is a group of organizations that act cooperatively for individual
benefit.

13. People design and implement the CRM strategy, they use CRM software to help them run campaigns and events, and to sell to and service customers

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15. Analitycs can provide a deeper insight into the custome, reflected in key CRM metrics such as customer value, satisfaction and propensity to churn

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18. Research suggests that perhaps 70 percent of alliances are between competitors

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26. Business consulting is:

a) Services around business process re-engineering, process
improvement and best practices for CRM
b) Consulting support for the formulation of customer strategy,
contact strategy, channel strategy, CRM strategy
c) Design and development of application modifi cations, project
management of software package implementation and training

21. Application integration separates the CRM system and other business systems.

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28. Marketers use CRM to help:

a) Create marketing plans
b) Manage marketing budgets and loyalty programmes
c) Launch new products
d) Administer channel partnerrelationships
e) All of the above

8. Midmarket CRM suites: this category comprises vendors that offer solutions with narrow functional breadth but deep specially capabilities for both enterprise and mid-market organizations.

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19. Customer advocacy groups (CAGs) promote and protect the interests of the company.

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5. CRM must be flexible enough to stay in touch with changing audience (the customer).

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34. The data mining process seeks t identify patterns and relationships in the data using:

Select the two correct answers
a) Embracing processes
b) Selection processes
c) Exploration processes
d) Modelling processes

41. CRM strives to:

a) Build long -term relationships with valued customers
b) Build long-term relationships with valued employees

12. B2B organizations are all the same: in size, structure, buying roles and transactional histories.

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f

33. Query-based (Ad hoc) reporting:

a) Are tipically integrated in CRM software applications, but often need customizationto suit the needs of the organization.
b) Present the user with a selection of tools which can then be used to construct a specific report.

23. For CRM goals to be achieved there often needs to be:

a) Low level of emphasis on hardware and infrastructure
b) High level of emphasis on hardware and infrastructure

25. Process alignment has the objective of reducing the cost of maintaining the relationship.Two processes are widely aligned:

Select the two correct answers
a) Quality processes
b) Order fulfilment processes
c) Quantity processes

36. Contractors:

a) Employees who have no customer contract at all
b) Emloyees who have direct frequent or periodic customer contract

10. For CRM to be achieved there often needs to be high level of emphasis on hardware and infrastructure.

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24. A number of specific CRM competences influence shareholder value, select the one that does not:

a) Target market selection
b) Customer acquisition
c) Customer retention
d) Customer liberation
e) Customer development
f) Value proposition development

16. Marketing objectives – involves dividing the internal market into homogenous subsets so that you can target each group with a different marketing mix.

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25. Target market selection:

a) Where demand is falling or static, or there is intense competition,
margins come under pressure, with negative consequences for
shareholder value
b) CRM systems enable companies to manage the customer lifecycle
more effectively and efficiently.

20. Benchmarking is a business improvement discipline involving the continuous, systematic evaluation of products, services and processes against organizations that are recognized as representing best practice

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40. Application integration can be provided as standard by:

Select the two correct answers
a) CRM
b) Other system vendors
c) None of the above

20. Two main types of integrations are: batch processing and real-time integration.

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20. Marriott Hotels, Virgin Airline, Westpac Bank, Taylor Nelson SOFRES (a market research company), Sears Roebuck and Volvo. They believe that if employees are not satisfied at work they will deliver excellent experience to their internal and external customers

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37. Research suggests that perhaps 70 percent of alliances are:

a) Between allies
b) Between competitors

4. Customer expectations were irrelevant in the emergance of CRM technology

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22. CRM solutions can be custered into three groups:

Select the three correct answers
a) Enterprise CRM suites
b) Midmarket CRM suites
c) CRM speciality tools
d) Market CRM suites