CRM 2

Question 1

1/70

CRM is database marketing

TRUE

FALSE

Question 2

2/70

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 3

3/70

Expansion is the phase in which there is decreasing interdependence

true

false

Question 4

4/70

Channels partners only distribute the ERP product

true

false

Question 5

5/70

CRM is marketing process

TRUE

FALSE

Question 6

6/70

Comanies collect data from number of sources

true

false

Question 7

7/70

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

true

false

Question 8

8/70

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 9

9/70

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

True

False

Question 10

10/70

Customization has both cost and revenue implications

true

false

Question 11

11/70

CRM can be implemented by any company.

TRUE

FALSE

Question 12

12/70

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

true

false

Question 13

13/70

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

TRUE

FALSE

Question 14

14/70

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 15

15/70

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

true

false

Question 16

16/70

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

true

false

Question 17

17/70

CRM is about loyalty schemes.

TRUE

FALSE

Question 18

18/70

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

true

fasle

Question 19

19/70

CRM is an IT issue.

TRUE

FALSE

Question 20

20/70

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 21

21/70

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

true

false

Question 22

22/70

Customization has both cost and revenue implications

true

false

Question 23

23/70

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

true

false

Question 24

24/70

All relationships reach the commitment phase.

true

false

Question 25

25/70

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

true

false

Question 26

26/70

CSFs are attributes and variables that can significantly impact business outcomes

true

false

Question 27

27/70

Stability – the process has identified weaknesses which are being addressed

True

False

Question 28

28/70

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 29

29/70

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

true

false

Question 30

30/70

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

true

false

Question 31

31/70

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 32

32/70

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

true

false

Question 33

33/70

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 34

34/70

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

true

false

Question 35

35/70

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 36

36/70

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

true

false

Question 37

37/70

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

true

false

Question 38

38/70

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

true

false

Question 39

39/70

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

true

false

Question 40

40/70

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 41

41/70

Are customers willing to pay a premium for customization?

true

false

Question 42

42/70

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

true

false

Question 43

43/70

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 44

44/70

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

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

All CRM initiatives involve IT investments

True

False

Question 47

47/70

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

true

false

Question 48

48/70

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 49

49/70

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

true

false

Question 50

50/70

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

true

false

Question 51

51/70

TCO looks only at the costs of acquiring products

true

false

Question 52

52/70

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

TRUE

FALSE

Question 53

53/70

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

true

false

Question 54

54/70

22. Relationship satisfaction is the same as commitment.

true

false

Question 55

55/70

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

true

false

Question 56

56/70

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

True

False

Question 57

57/70

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

true

false

Question 58

58/70

Primary data are data that have already been collected

True

False

Question 59

59/70

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 60

60/70

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

TRUE

FALSE

Question 61

61/70

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

true

false

Question 62

62/70

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 63

63/70

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

true

false

Question 64

64/70

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

true

false

CRM is database marketing

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

Expansion is the phase in which there is decreasing interdependence

Channels partners only distribute the ERP product

CRM is marketing process

Comanies collect data from number of sources

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

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.

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

Customization has both cost and revenue implications

CRM can be implemented by any company.

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

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

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

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

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

CRM is about loyalty schemes.

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

CRM is an IT issue.

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.

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

Customization has both cost and revenue implications

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

All relationships reach the commitment phase.

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

CSFs are attributes and variables that can significantly impact business outcomes

Stability – the process has identified weaknesses which are being addressed

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

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

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

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.

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

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

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

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

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

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

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

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

Are customers willing to pay a premium for customization?

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

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

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

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

All CRM initiatives involve IT investments

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

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

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

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

TCO looks only at the costs of acquiring products

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

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

22. Relationship satisfaction is the same as commitment.

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

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

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

Primary data are data that have already been collected

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.

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

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

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

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

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

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

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

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

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

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

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

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: