CRM 2

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published on November 27, 20177 responses 0
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1/70

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

true
false
2/70

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
3/70

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

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4/70

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

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5/70

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

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6/70

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

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7/70

CRM is database marketing

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8/70

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

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9/70

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

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10/70

All relationships reach the commitment phase.

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11/70

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

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12/70

TCO looks only at the costs of acquiring products

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13/70

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

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14/70

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

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15/70

CRM is marketing process

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16/70

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

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17/70

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

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18/70

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

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19/70

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.

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20/70

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

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21/70

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

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22/70

22. Relationship satisfaction is the same as commitment.

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23/70

All CRM initiatives involve IT investments

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24/70

Primary data are data that have already been collected

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25/70

Expansion is the phase in which there is decreasing interdependence

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26/70

Customization has both cost and revenue implications

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27/70

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

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fasle
28/70

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

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29/70

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

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30/70

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

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31/70

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

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32/70

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

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33/70

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

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34/70

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

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35/70

Customization has both cost and revenue implications

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36/70

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

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37/70

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

True
False
38/70

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

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39/70

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

True
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40/70

CSFs are attributes and variables that can significantly impact business outcomes

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41/70

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.

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42/70

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

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43/70

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

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44/70

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

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45/70

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

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46/70

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

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47/70

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
48/70

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
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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.

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50/70

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

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51/70

CRM is about loyalty schemes.

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52/70

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

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53/70

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

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54/70

Are customers willing to pay a premium for customization?

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55/70

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

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56/70

Channels partners only distribute the ERP product

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57/70

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:

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58/70

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

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59/70

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

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60/70

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

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61/70

CRM is an IT issue.

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62/70

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

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63/70

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

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64/70

Comanies collect data from number of sources

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65/70

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

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66/70

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

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67/70

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

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68/70

CRM can be implemented by any company.

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69/70

Stability – the process has identified weaknesses which are being addressed

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70/70

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

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false