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

Customer related data might be retained in:

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

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

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

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.

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

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

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

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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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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.

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

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

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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

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

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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

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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. 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.

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

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40. Retail multiples are treated as:

a) important indvidiual customers
b) regular individual customers

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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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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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.

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

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

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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

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.

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

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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41. Independents are treated as:

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

11. Purchasing costs can be divided into fixed and variable

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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

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

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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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.

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.

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

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

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

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

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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.

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

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

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

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

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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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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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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.

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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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.

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

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

Basic qualities are those that:

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

10. EDI systems can not reduce inventory costs

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

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

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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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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.

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

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. 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

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

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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

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

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

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

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.

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

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.

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

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

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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.

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

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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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. 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

. 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.

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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. 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

Raise prices:

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

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

28. SCOPE stands for:

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

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

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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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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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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

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

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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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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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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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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.