crm final 1part

get a 100 get a 100 get a 100 get a 100 you have to get a 100 and pass the class

published on January 143 responses 0

Number of competitors, corporate culture, channel culture, channel configuration, purchasing practices, ownership expectations and ethical concerns are:

a) Key performance indicators of customer retention programmes
b) Roles of research
c) Contextual considerations that have an impact on customer
retention practices

11. Premium prices: customers who are satisfied in their relationship may reward their suppliers by paying higher prices

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26. Three of the following constituencies are external to the company:

Select the three correct answers
a) Employees
b) Partners
c) Owners/investors
d) Suppliers

1. The customer lifecycle is made up of three core customer management processes: customer acquisition, customer retention and customer development

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21. Network relationships vary in terms of their importance, intensity, closeness, strength, adaptation, commitment and power distribution

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30. Identify network requirements

a) companies will need to evaluate their current network position to
identify current network members and asses whether they have the
resources and commitment to perform the activities required.
b) Companies need to identify the business activities that must be
performed by network members to create and deliver value for and
from their chosen customers.
c) Companies will need to brief network members so that they
understand the focal company's customers and their role in creating
value for them.

Cross-selling is:

a) Selling higher priced or higher margin products and services to an
existing customer.
b) Selling additional products and services to an existing customer

23. Network position can be defined as:

a) is made up of nodal companies, organizations and individuals,
and the relationships between them.
b) is the sum total of a company's network relationships and all the
activity links , resource ties and actor bonds that these relationships
contain.

. Different forms of bond between customers and suppliers can be split into two major categories

Select the two correct answers
a) Social bonds
b) Process bonds
c) Legal bonds
d) Structural bonds

Relational commitment:

a) Customers can become highly attached to a company's people
b) Customers are convinced that no other offer or company could do
a better job of meeting their needs

25. There are four main constituencies of a focal organization's network:

Select the four correct answers
a) Suppliers
b) Partners
c) Employers
d) Employees
e) Owners/investors

Companies fall into three clusters in respect of the customer-sacking behaviours:

a) hardliners
b) appeasers
c) undecided
d) all of the above

Lower customer management costs over time:

a) customers who willingly commit more of their purchases to a
preferred suplier are generally more satisfied than customers who do
not.
b) The relationship start-up costs that are incurred when a customer
is acquired can be quite high.

3. Business network is the sum total of a company's network relationships and all the activity links , resource ties and actor bonds that these relationships contain

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20. B2B researchers have identifi ed many different forms of bond between customers and suppliers. These include interpersonal bonds, technology bonds (as in EDI), legal bonds and process bonds.

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12. Reduced transaction costs: suppliers and consumers can share customer and technical information to reduce risk, share costs and improve the probability of new product success.

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10. EDI systems can not reduce inventory costs

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6. Raw customer retention rate: this is the number of customers doing business with a firm at the end of a trading period, expressed as percentage of those who were active customers at the beginning of the period

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11. SCOPE stands for: S=suppliers, C=customers (the focal firm's customers who are at hub of the network), O=owners/investors, P=partners and E=employees

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3. Customer retention is the number of customers doing business with a firm at the end of a financial year, expressed as percentage of those who were active customers at the beginning of the year.

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Loyalty schemes can be defined as follows:

a) offers a range of value-adding benefits exclusively to members.
b) offers delayed or immediate incremental rewards to customers
for their cumulative patronage.

14. Generally, shoppers does not like the convenience and speed of online purchasing.

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2. There are only two main supplier accreditation options: requiring suppliers to be certified as ISO 9000 compliant and requiring suppliers to monitor and improve their operations against an external business excellence standard.

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13. The customers who have no any strategic value to your company are prime candidates for your retention efforts

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42. Technology partners for CRM implementations:

a) System integrators
b) Consultants
c) Infrastructure vendors
d) CRM software vendors
e) Data analytics vendors
f) Process engineers
g) Client
h) All of the above
i) lead operator
j) caretaker

9. There is a strong economic argument in favour of customer retention, and it goes as follows: increasing purchases as tenure grows, lower customer managements costs over time, customer referrals, premium prices and customer development.

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27. One of the following constituencies is internal to the company:

a) Suppliers
b) Owners/investors
c) Partners
d) Employees

5. Customer related data might be retained in: product silos, channel silos and functional silos.

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33. Network members can contribute to CRM performance in a number of ways, including the following

Select the two correct answers
a) IT development
b) Offering new customer insight
c) Creating value-adds

. In-pack or on-pack voucher:

a) customers collect proofs of purchase, such as store receipts or
barcodes from packaging, which are surrendered for chas or gifts
b) refunds that the customer recieves after purchase
c) None of the above

10. Increasing purchases as tenure grows: customers who willingly commit more of their purchases to a preffered supplier are generally more satisfied that customers who do not.

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34. A number of different managerial roles have been identified in the management of business networks:

Select the three correct answers
a) Network architect
b) Lead operator
c) Caretaker
d) Consultatnts

. There are a number of strategies for sacking customers:

Select the five correct answers
a) Raise prices
b) Lower prices
c) Unbundle the offer
d) Respecify the product
e) Reorganize sales,marketing and service departments
f) Introduce ABC class service

37. Caretaker:

a) Designs a network for given purpose.
b) Introduces particular businesses or individuals into the network.
c) Takes an overview of the performance of the network.

15. The network architect introduces particular business or individuals into the network.

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40. Retail multiples are treated as:

a) important indvidiual customers
b) regular individual customers

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

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1. The term 'network' can, in general terms, be thought of as structure made up of nodes that are related to each other by threads.

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31. Acquire network expertise

a) companies will need to evaluate their current network position to
identify current network members and asses whether they have the
resources and commitment to perform the activities required
b) Companies need to identify the business activities that must be
performed by network members to create and deliver value for and
from their chosen customers.
c) Companies will need to brief network members so that they
understand the focal company's customers and their role in creating
value for them.

18. Four different forms of commitment have been identified: instrumental, relational, intelectual and values-based.

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2. Business network is made up of nodal companies, organizations and individuals, and the relationships between them

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28. SCOPE stands for:

a) Suppliers, customers, owners/investors, partners and employees
b) Suppliers, customers, owners/investors, partners and employers

5. Network position is the sum total of a company's network relationships and all the activity links , resource ties and actor bonds that these relationships contain

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29. New business start-ups are typically with the challenge of designing their networks from scratch.These challenges fall into three major categories:

a) Identify network requirements
b) acquire network expertise
c) manage network performance
d) All of the above
e) Identify network expertise

9. EDI acts as a structural bond that only symbolizes the commitment

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10. There are four main constituencies of a focal organization's network: partners, suppliers, owners/investors and employees

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39. Independents are:

a) Treated as important individual customers and may have
dedicated account managers, category specialists, merchandising
teams and logistics
b) Treated as a homogenous cluster and services through
independent wholesalers.

Hardliners:

a) take a more cautious approach concerning the termination of
unprofi table relationships, above all due to strategic considerations
such as not playing customers into competitors ’ hands
b) take an active and rigorous stance in terminating unprofi table
relationships, including the regular clearance of their customer
portfolio.

9. There are only three constituencies of a focal organization's network: partners, suppliers and employees.

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Basic qualities are those that:

a) Surprise, delight and excite customers
b) Customer routinely expects in the product
c) Customer wants more or less

14. The former are generally considered positive, and latter negative, customer retention strategies

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15. B2B e-commerce is a much more significant phenomenon than B2C e-commerce.

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4. Customer related data might be retained in: product silos, channel silos, functional silos and customer retention.

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20. Management in networks is both about managing individual relationships and managing clusters of relationships

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Positive customer retention strategies:

Positive customer retention strategies:
b) Adding customer-percieved value
c) Creating social and structural bonds
d) Building customer engagement
e) All of the above

5. Process alignment: Once companies and suppliers make a commitment to each other, they may begin to look for opportunities to align their processes

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1. Supplier relationship management is a back-office function managed through enterprise resource planning (ERP), supply chain management (SCM) or specialist supplier relationship management (SRM) applications

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7. Networks are important from a strategic CRM perspective, because network members supply the material inputs, services, funding, people, technology amd knowledge that are used to create value propositions for the focal firm's customers.

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13. Category management is the management of a group of related or substitutable products as a single strategic business unit

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Select 5 different types of structural bond that can be identified, all characterzed by an investment of one or both parties in the other:

Select the five correct answers
a) Social
b) Economical
c) Legal
d) Financial
e) Project
f) Geographic
g) Values-based

19. A customer club is a company-run membership organization that offers a range of value-adding benefits exclusively to members.

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8. Improving customer retention is an important objective for many CRM implementations.It's deffinition and measurement need to be sensitive to the sales, profitability and value issues discussed previously

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22. A business network can be defined as:

a) is made up of nodal companies, organizations and individuals,
and the relationships between them.
b) is the sum total of a company's network relationships and all the
activity links , resource ties and actor bonds that these relationships
contain.

12. SCOPE stands for: S=suppliers, C=customers (the focal firm's customers who are at hub of the network), O=owners/investors, P=partners and E=employers

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11. Purchasing costs can be divided into fixed and variable

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35. The network architect:

a) Designs a network for given purpose.
b) Introduces particular businesses or individuals into the network.
c) Takes an overview of the performance of the network.

38. Retail multiples are:

a) Treated as important individual customers and may have
dedicated account managers, category specialists, merchandising
teams and logistics
b) Treated as a homogenous cluster and services through
independent wholesalers.

14. Identify network requirements: companies will need to evaluate their current network position to identify current network members and asses whether they have the resources and commitment to perform the activities required

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Companies can reduce levels of customer churn by researching a number of questions:

a) Why are customers churning?
b) Are there any lead indicators of impending defection?
c) What can be done to address the root causes?
d) All of the above.

6. Failure to comply with quality standards can be a huge cost for some companies.

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21. Financial bond: when each party grows to know and understand the other’s processes and structures, strengths and weaknesses

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2. The customer lifecycle is made up of four core customer management processes: customer acquisition, customer retention, customer strategy and customer development

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4. 900 series is an international quality standard in which quality is defined as: the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs

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18. The lead operator introduces particular businesses or individuals into the network.

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Raise prices:

a) customers can choose to pay the higher price.
b) customers can not choose to pay the higher price.

8. EDI delivers a number of strategic and operational benefits to companies.

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17. The caretaker introduces particular businesses or individuals into the network.

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Three different forms of commitment have been identified:

Select the three correct answers
a) Instrumental commitment
b) Emotional commitment
c) Rational commitment
d) Values-based commitment

15. Noriaki Kano has developed a product quality model that distinguishes between three forms of quality, which are: basic quality, linear quality and attractive quality.

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13. Three out of four constituencies of a focal organization's network are internal: suppliers, owners/investors and partners while one is external: employees

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8. Networks provide services such as advertising, logistics and distribution that help raise and satisfy customer demand.

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3. There are three main supplier accreditation options: requiring suppliers to be certified as ISO 9000 compliant; requiring suppliers to monitor and improve their operations against an external business excellence standard or developing and implementing your own accreditation programme.

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7. Electronic data interchange (EDI) prevent suppliers and customers to trade electronically.

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17. Loyalty scheme/programme is a scheme that offers delayed or immediate incremental rewards to customers for their cumulative patronage

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36. Lead operator:

a) Designs a network for given purpose
b) Introduces particular businesses or individuals into the network.
c) Takes an overview of the performance of the network.

41. Independents are treated as:

a) important individual customers
b) as a homogenous clucter and serviced through independent
wholesalers

6. Networks are not important from a strategic CRM perspective, because network members supply the material inputs, services, funding, people, technology amd knowledge that are used to create value propositions for the focal firm's customers.

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19. The lead operator takes an overview of the performance of the network.

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32. Manage network performance

a) companies will need to evaluate their current network position to
identify current network members and asses whether they have the
resources and commitment to perform the activities required.
b) Companies need to identify the business activities that must be
performed by network members to create and deliver value for and
from their chosen customers.
c) Companies will need to brief network members so that they
understand the focal company's customers and their role in creating
value for them.

Customer retention is:

a) is the number of customers doing business with a firm at the end
of a financial year, expressed as percentage of those who were active
customers at the beginning of the year
b) is the maintenance of continuous trading relationships with
customers over the short term.

7. Profit-adjusted retention rate: this is the value of sales achieved from the retained customers, expressed as a percentage of the sales achieved from all customers who were active at the beginning of the period

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12. The customers who have greatest strategic value to your company are prime candidates for your retention efforts

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Customer related data might be retained in:

Select the three correct answers
a) customer retention
b) product silos
c) channels silos
d) functional silos

16. The network architect designs a network for a given purpose

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24. Networks are important from a strategic CRM perspective, becausenetwork members:

a) supply the material inputs, services, funding, people, technology
amd knowledge that are used to create value propositions for the focal
firm's customers.
b) Provide services such as advertising, logistics and distribution that
help raise and satisfy customer demand.
c) All of the above

4. Network position is made up of nodal companies, organizations and individuals, and the relationships between them

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. Up-selling is:

a) Selling additional products and services to an existing customer
b) Selling higher priced or higher margin products and services to an
existing customer.

. Appeasers:

a) take a more cautious approach concerning the termination of
unprofi table relationships, above all due to strategic considerations
such as not playing customers into competitors ’ hands
b) take an active and rigorous stance in terminating unprofi table
relationships, including the regular clearance of their customer
portfolio.

16. There are two common forms of value-adding programme: loyalty schemes and customer

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The customer lifecycle is made up of three core customer management processes:

a) customer acquisition
b) customer retention
c) customer development
d) all of the above