CRM 2 Midterm preparation is important for our life not to lose 500 km and go to summer school skyjdje published on November 27, 20177 responses 0 « Previous Next » Questions in vertical order 1/70 Opetaions managment can use customer-related data to produce customized products and services true false 2/70 Customer intimacy: companies aligning with this value discipline aim to provide the best products, services or solutions to customers true false 3/70 Stability – the process has identified weaknesses which are being addressed True False 4/70 CRM is marketing process TRUE FALSE 5/70 Service guarantees is an explicit promise to the customer that a prescribed level of service will be delivered. true false 6/70 Contact management lets users manage their communications programme with the companies. TRUE FALSE 7/70 Customization has both cost and revenue implications true false 8/70 CRM is database marketing TRUE FALSE 9/70 A customer or market-oriented company shares a set of beliefs about putting the customer first. true fasle 10/70 Calculus-based trust is present in late stages of a relationship and is quite calculative true false 11/70 Physical evidence includes a company’s premises but excludes their internal and external environments, print materials, websites, corporate uniforms and vehicle livery true false 12/70 Intellectual buy in is Where people now what has to be changed and understand the justification for the change true false 13/70 Channels partners only distribute the ERP product true false 14/70 Relationship is composed of series of interactive episodes between dyadic parties over time. true false 15/70 Comanies collect data from number of sources true false 16/70 Websites and electronic media offer limited opportunities to create customer experiences. True False 17/70 Unilateral termination is when none of the parties move to end the relationship. true false 18/70 A brand is any name, design, style, word or symbol that distinguishes a product from its competitors. true false 19/70 CRM needs ABC because of its overriding goal of generating profitable relationships with customers. true false 20/70 CSFs are attributes and variables that can significantly impact business outcomes true false 21/70 The B2C customer is the beginning consumer: an individual or a household True False 22/70 The commitment phase is characterized by decreasing adaptation and mutually understood roles and goals. true false 23/70 High involvement product categories have low personal significance or relevance to customers. true false 24/70 CRM is grounded on high quality customer-related data and enabled by information technology. true false 25/70 Data mining can be thought of as the creation of intelligence from selected quantities of data. true false 26/70 Communications include company-generated messaging such as advertising, brochures, newsletters and annual reports. true false 27/70 Customization has both cost and revenue implications true false 28/70 Production-oriented business believe that customers choose high-price products TRUE FALSE 29/70 All relationships reach the commitment phase. true false 30/70 Process mapping is a form of blueprinting, a technique popularized by G. Lyn Shostack. true false 31/70 Automation of selling activities is often linked to efforts to improve and standardize the selling process true false 32/70 TCO looks only at the costs of acquiring products true false 33/70 Are customers willing to pay a premium for customization? true false 34/70 Heterogeneous services can be mechanically reproduced to exact specifications and tolerances. true false 35/70 Executive sponsor is typically a board level senior executive who commits real time to the project and ensures that resources are made available true false 36/70 CRM is an IT issue. TRUE FALSE 37/70 CRM can be implemented by any company. TRUE FALSE 38/70 Analytical CRM uses customer-related data to support the marketing sales and service decisions that aim to enhance the value created and from customers. true false 39/70 Most businesses have a scheme for classifying their customers according to their value true false 40/70 The external audit analyses the macro- and micro-environments in which the customer operates. true false 41/70 Bystanders understand the changes being introduced, but feel no emotional buy-in to the change. true false 42/70 The customer activity cycle (CAC) aims to depict the processes that customers go through when deciding how to manage their transactions in B2C cycle. true false 43/70 Benevolence - a belief that one party acts in the interests of themselves true false 44/70 Referrals are generated by existing, satisfied customers through their unpaid advocacy. true false 45/70 Database marketing is more evident in strategic, operational and collaborative CRM. true false 46/70 CRM is the core business strategy that integrates external processes and functions and internal networks, to create and deliver value to targeted customers at a profit TRUE FALSE 47/70 If the customer returns repeatedly because she likes the store's atmosphere, the way the coffee is prepared or has taken a shine to the barista, is a example of a relationship. true false 48/70 Analytical CRM focuses on the intelligent mining of customer-related data for analytical or tactical purposes TRUE FALSE 49/70 When customer buys an occasional latte from a coffee shop, is a example of a relationship. true false 50/70 CRM is the core business strategy that integrates internal processes and functions and external networks, to create and deliver value to targeted customers at a profit. true false 51/70 22. Relationship satisfaction is the same as commitment. true false 52/70 Products that offer better solutions to problems create more value for customers true false 53/70 Contact management lets users manage their communications programme with the customers. true false 54/70 23. Payne's five-process modelThe strategy development processThe value creation processThe multichannel integration processThe performance assessment processThe information management process: true false 55/70 Over time, relationship lighten, trust and commitment between parties is likely to drop. true false 56/70 All CRM initiatives involve IT investments True False 57/70 Fundamental reason for companies wanting to build relationships with customers isn't economic. true false 58/70 The term portfolio is often used in the context of investments to describe the collection of assets owned by an individual or institution true false 59/70 Mystery shopping involves the recruitment of paid shoppers to report on their customer experience with the company sponsoring the research true false 60/70 Commitment is shown by an exchange partner believing that an ongoing relationship with another isn't as important as the maximum effort to maintain it. true false 61/70 Many B2B companies classify their customers into groups based on sales revenue. true false 62/70 CRM is the process of managing all aspects of interaction a company has with its customers, excluding prospecting, sales and service. TRUE/FALSE True False 63/70 Expansion is the phase in which there is decreasing interdependence true false 64/70 9. Francis Buttle's model, consists of five primary stages and 3 supporting conditions leading towards the end goal of enhanced customer profitability. TRUE FALSE 65/70 Primary data are data that have already been collected True False 66/70 Organization for Economic Cooperation and Development (OECD) developed a set of principles that has served the foundation for personal data protection legislation around the world. true false 67/70 Service recovery includes all the actions taken by a company to resolve a service failure. true false 68/70 Operational CRM focuses on the automation of customer-facing process such as selling, marketing and customer service. true false 69/70 The main goal of the audit is to get a clear insight into the strengths and weaknesses of the company's customer strategy. true false 70/70 CRM is about loyalty schemes. TRUE FALSE
