CRM 2

Question 1

1/70

CRM is marketing process

TRUE

FALSE

Question 2

2/70

Websites and electronic media offer limited opportunities to create customer experiences.

True

False

Question 3

3/70

High involvement product categories have low personal significance or relevance to customers.

true

false

Question 4

4/70

All CRM initiatives involve IT investments

True

False

Question 5

5/70

Opetaions managment can use customer-related data to produce customized products and services

true

false

Question 6

6/70

Channels partners only distribute the ERP product

true

false

Question 7

7/70

CSFs are attributes and variables that can significantly impact business outcomes

true

false

Question 8

8/70

The B2C customer is the beginning consumer: an individual or a household

True

False

Question 9

9/70

Referrals are generated by existing, satisfied customers through their unpaid advocacy.

true

false

Question 10

10/70

Fundamental reason for companies wanting to build relationships with customers isn't economic.

true

false

Question 11

11/70

23. Payne's five-process model
The strategy development process
The value creation process
The multichannel integration process
The performance assessment process
The information management process:

true

false

Question 12

12/70

The commitment phase is characterized by decreasing adaptation and mutually understood roles and goals.

true

false

Question 13

13/70

CRM is an IT issue.

TRUE

FALSE

Question 14

14/70

Service recovery includes all the actions taken by a company to resolve a service failure.

true

false

Question 15

15/70

Benevolence - a belief that one party acts in the interests of themselves

true

false

Question 16

16/70

Database marketing is more evident in strategic, operational and collaborative CRM.

true

false

Question 17

17/70

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

Question 18

18/70

Calculus-based trust is present in late stages of a relationship and is quite calculative

true

false

Question 19

19/70

Process mapping is a form of blueprinting, a technique popularized by G. Lyn Shostack.

true

false

Question 20

20/70

22. Relationship satisfaction is the same as commitment.

true

false

Question 21

21/70

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

Question 22

22/70

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

Question 23

23/70

Operational CRM focuses on the automation of customer-facing process such as selling, marketing and customer service.

true

false

Question 24

24/70

Primary data are data that have already been collected

True

False

Question 25

25/70

Customer intimacy: companies aligning with this value discipline aim to provide the best products, services or solutions to customers

true

false

Question 26

26/70

Products that offer better solutions to problems create more value for customers

true

false

Question 27

27/70

Many B2B companies classify their customers into groups based on sales revenue.

true

false

Question 28

28/70

Comanies collect data from number of sources

true

false

Question 29

29/70

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

Question 30

30/70

A brand is any name, design, style, word or symbol that distinguishes a product from its competitors.

true

false

Question 31

31/70

Bystanders understand the changes being introduced, but feel no emotional buy-in to the change.

true

false

Question 32

32/70

Automation of selling activities is often linked to efforts to improve and standardize the selling process

true

false

Question 33

33/70

The external audit analyses the macro- and micro-environments in which the customer operates.

true

false

Question 34

34/70

Over time, relationship lighten, trust and commitment between parties is likely to drop.

true

false

Question 35

35/70

All relationships reach the commitment phase.

true

false

Question 36

36/70

Expansion is the phase in which there is decreasing interdependence

true

false

Question 37

37/70

CRM can be implemented by any company.

TRUE

FALSE

Question 38

38/70

Contact management lets users manage their communications programme with the customers.

true

false

Question 39

39/70

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

Question 40

40/70

Customization has both cost and revenue implications

true

false

Question 41

41/70

CRM needs ABC because of its overriding goal of generating profitable relationships with customers.

true

false

Question 42

42/70

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

Question 43

43/70

Intellectual buy in is Where people now what has to be changed and understand the justification for the change

true

false

Question 44

44/70

CRM is grounded on high quality customer-related data and enabled by information technology.

true

false

Question 45

45/70

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

Question 46

46/70

Service guarantees is an explicit promise to the customer that a prescribed level of service will be delivered.

true

false

Question 47

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

Question 48

48/70

Physical evidence includes a company’s premises but excludes their internal and external environments, print materials, websites, corporate uniforms and vehicle livery

true

false

Question 49

49/70

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

Question 50

50/70

A customer or market-oriented company shares a set of beliefs about putting the customer first.

true

fasle

Question 51

51/70

Analytical CRM focuses on the intelligent mining of customer-related data for analytical or tactical purposes

TRUE

FALSE

Question 52

52/70

Are customers willing to pay a premium for customization?

true

false

Question 53

53/70

Production-oriented business believe that customers choose high-price products

TRUE

FALSE

Question 54

54/70

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

Question 55

55/70

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

Question 56

56/70

When customer buys an occasional latte from a coffee shop, is a example of a relationship.

true

false

Question 57

57/70

Mystery shopping involves the recruitment of paid shoppers to report on their customer experience with the company sponsoring the research

true

false

Question 58

58/70

Stability – the process has identified weaknesses which are being addressed

True

False

Question 59

59/70

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

Question 60

60/70

Heterogeneous services can be mechanically reproduced to exact specifications and tolerances.

true

false

Question 61

61/70

Most businesses have a scheme for classifying their customers according to their value

true

false

Question 62

62/70

Communications include company-generated messaging such as advertising, brochures, newsletters and annual reports.

true

false

Question 63

63/70

CRM is about loyalty schemes.

TRUE

FALSE

Question 64

64/70

Unilateral termination is when none of the parties move to end the relationship.

true

false

CRM is marketing process

Websites and electronic media offer limited opportunities to create customer experiences.

High involvement product categories have low personal significance or relevance to customers.

All CRM initiatives involve IT investments

Opetaions managment can use customer-related data to produce customized products and services

Channels partners only distribute the ERP product

CSFs are attributes and variables that can significantly impact business outcomes

The B2C customer is the beginning consumer: an individual or a household

Referrals are generated by existing, satisfied customers through their unpaid advocacy.

Fundamental reason for companies wanting to build relationships with customers isn't economic.

23. Payne's five-process modelThe strategy development processThe value creation processThe multichannel integration processThe performance assessment processThe information management process:

The commitment phase is characterized by decreasing adaptation and mutually understood roles and goals.

CRM is an IT issue.

Service recovery includes all the actions taken by a company to resolve a service failure.

Benevolence - a belief that one party acts in the interests of themselves

Database marketing is more evident in strategic, operational and collaborative CRM.

The customer activity cycle (CAC) aims to depict the processes that customers go through when deciding how to manage their transactions in B2C cycle.

Calculus-based trust is present in late stages of a relationship and is quite calculative

Process mapping is a form of blueprinting, a technique popularized by G. Lyn Shostack.

22. Relationship satisfaction is the same as commitment.

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.

CRM is the process of managing all aspects of interaction a company has with its customers, excluding prospecting, sales and service. TRUE/FALSE

Operational CRM focuses on the automation of customer-facing process such as selling, marketing and customer service.

Primary data are data that have already been collected

Customer intimacy: companies aligning with this value discipline aim to provide the best products, services or solutions to customers

Products that offer better solutions to problems create more value for customers

Many B2B companies classify their customers into groups based on sales revenue.

Comanies collect data from number of sources

Analytical CRM uses customer-related data to support the marketing sales and service decisions that aim to enhance the value created and from customers.

A brand is any name, design, style, word or symbol that distinguishes a product from its competitors.

Bystanders understand the changes being introduced, but feel no emotional buy-in to the change.

Automation of selling activities is often linked to efforts to improve and standardize the selling process

The external audit analyses the macro- and micro-environments in which the customer operates.

Over time, relationship lighten, trust and commitment between parties is likely to drop.

All relationships reach the commitment phase.

Expansion is the phase in which there is decreasing interdependence

CRM can be implemented by any company.

Contact management lets users manage their communications programme with the customers.

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.

Customization has both cost and revenue implications

CRM needs ABC because of its overriding goal of generating profitable relationships with customers.

Executive sponsor is typically a board level senior executive who commits real time to the project and ensures that resources are made available

Intellectual buy in is Where people now what has to be changed and understand the justification for the change

CRM is grounded on high quality customer-related data and enabled by information technology.

9. Francis Buttle's model, consists of five primary stages and 3 supporting conditions leading towards the end goal of enhanced customer profitability.

Service guarantees is an explicit promise to the customer that a prescribed level of service will be delivered.

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.

Physical evidence includes a company’s premises but excludes their internal and external environments, print materials, websites, corporate uniforms and vehicle livery

The main goal of the audit is to get a clear insight into the strengths and weaknesses of the company's customer strategy.

A customer or market-oriented company shares a set of beliefs about putting the customer first.

Analytical CRM focuses on the intelligent mining of customer-related data for analytical or tactical purposes

Are customers willing to pay a premium for customization?

Production-oriented business believe that customers choose high-price products

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

The term portfolio is often used in the context of investments to describe the collection of assets owned by an individual or institution

When customer buys an occasional latte from a coffee shop, is a example of a relationship.

Mystery shopping involves the recruitment of paid shoppers to report on their customer experience with the company sponsoring the research

Stability – the process has identified weaknesses which are being addressed

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.

Heterogeneous services can be mechanically reproduced to exact specifications and tolerances.

Most businesses have a scheme for classifying their customers according to their value

Communications include company-generated messaging such as advertising, brochures, newsletters and annual reports.

CRM is about loyalty schemes.

Unilateral termination is when none of the parties move to end the relationship.

TCO looks only at the costs of acquiring products

CRM is database marketing

Data mining can be thought of as the creation of intelligence from selected quantities of data.

Contact management lets users manage their communications programme with the companies.

Relationship is composed of series of interactive episodes between dyadic parties over time.

Customization has both cost and revenue implications

23. Payne's five-process model
The strategy development process
The value creation process
The multichannel integration process
The performance assessment process
The information management process: