Question 1

Social CRM does not retain any of the tenets of CRM 1.0.

Accepted Answer

A) True 
 B)False  False

Question 2

Discuss the major principles behind Social CRM (CRM 2.0), and contrast it with CRM 1.0.

Accepted Answer

-Social CRM (CRM 2.0) retains all the tenets of CRM 1.0. However, it adds social media technology and customer collaborative conversations to the process.
-Social CRM means that companies must interact with customers on their terms, and not based solely on the company's data, strategy and desire.
-Social CRM extends CRM 1.0, but does not replace it; in CRM 1.0, customers would forward e-mails to friends or talk in business meetings about products.
-Social CRM added more conversation among customers due to social media and gave companies many additional media for building long-term customer relationships and sales.

Question 3

Which of the following is referred to as level one of relationship marketing?

Accepted Answer

A)  Marketers learn the names and needs of customers 
B)  Marketers create solid solutions to customer problems 
C)  Marketers build a financial bond with customers by using pricing strategies 
D)  Marketers stimulate social interaction with customers 
A)  Marketers learn the names and needs of customers 
B)  Marketers create solid solutions to customer problems 
C)  Marketers build a financial bond with customers by using pricing strategies 
D)  Marketers stimulate social interaction with customers C

Question 4

Customer service occurs only post-purchase when customers have questions or complaints.

Accepted Answer

A) True 
 B)False

Question 5

All of the following are metrics used to assess the internet's value in delivering CRM except ________.

Accepted Answer

A)  lifetime value (LTV) 
B)  cost savings 
C)  employee satisfaction 
D)  customer satisfaction 
A)  lifetime value (LTV) 
B)  cost savings 
C)  employee satisfaction 
D)  customer satisfaction

Question 6

Most customers would prefer to be brand disloyal in favor of finding the lowest price for each purchase, so marketers must entice them into loyalty through special offers.

Accepted Answer

A) True 
 B)False

Question 7

In order to keep customers from viewing their communications as spam, the firm should build relationships by ________.

Accepted Answer

A)  offering promotions 
B)  purchasing new consumer lists periodically 
C)  using consumer information to build more precise target profiles 
D)  rewarding customers for giving out their friend's e-mail addresses 
A)  offering promotions 
B)  purchasing new consumer lists periodically 
C)  using consumer information to build more precise target profiles 
D)  rewarding customers for giving out their friend's e-mail addresses

Question 8

Software agents such as shopping agents and search engines ________.

Accepted Answer

A)  scour the internet for terms matching the users' search criteria 
B)  use web portals to access partner information 
C)  are forms of experiential marketing 
D)  match user input to databases and return customized information 
A)  scour the internet for terms matching the users' search criteria 
B)  use web portals to access partner information 
C)  are forms of experiential marketing 
D)  match user input to databases and return customized information

Question 9

Permission marketing dictates that customers will be pleased to receive e-mail for which they have opted-in.

Accepted Answer

A) True 
 B)False

Question 10

Personalization involves ways that marketers individualize in an impersonal, computer networked environment.

Accepted Answer

A) True 
 B)False

Question 11

Important tools that aid firms in customizing products to groups of customers or individuals include ________ strategies that reside on the company's web and e-mail servers, and ________ strategies that are initiated by internet users.

Accepted Answer

A)  push; pull 
B)  pull; push 
C)  marketing; brochureware 
D)  marketing; inquiry 
A)  push; pull 
B)  pull; push 
C)  marketing; brochureware 
D)  marketing; inquiry

Question 12

Using _________ firms can develop customized web pages based on visitor behavior.

Accepted Answer

A)  Web log analysis 
B)  ongoing e-mail 
C)  client-side tools 
D)  agents 
A)  Web log analysis 
B)  ongoing e-mail 
C)  client-side tools 
D)  agents

Question 13

The text notes that relationship marketing is practiced on three levels. Describe each of the three levels from the lowest to the highest.

Accepted Answer

-Level one is financial. Differentiation

Question 14

Which of the following represents a major shift in current marketing practice?

Accepted Answer

A)  From high fixed costs to low fixed costs 
B)  From mass marketing to individualized marketing 
C)  From focusing on a small base of customers to focusing on acquiring many new customers 
D)  All of the above 
A)  From high fixed costs to low fixed costs 
B)  From mass marketing to individualized marketing 
C)  From focusing on a small base of customers to focusing on acquiring many new customers 
D)  All of the above

Question 15

Companies obtain transactional, behavioral, and interaction data about prospects, business customers, and end customers through ________.

Accepted Answer

A)  personal disclosure 
B)  automated tracking of the sales force 
C)  website activity 
D)  all of the above 
A)  personal disclosure 
B)  automated tracking of the sales force 
C)  website activity 
D)  all of the above

Question 16

One important tenet of CRM is that it is better to attract, retain, and grow customers than to focus only on customer acquisition.

Accepted Answer

A) True 
 B)False

Question 17

As more companies integrate customer relationship management (CRM) and supply chain management (SCM) activities ________.

Accepted Answer

A)  they will experience an increase in variable costs 
B)  they will slightly less able to learn how to create value throughout the supply chain 
C)  they will become more responsive to individual customer needs 
D)  all of the above 
A)  they will experience an increase in variable costs 
B)  they will slightly less able to learn how to create value throughout the supply chain 
C)  they will become more responsive to individual customer needs 
D)  all of the above

Question 18

Social CRM means that companies must interact with customers ________.

Accepted Answer

A)  on the customer's terms 
B)  based on company data 
C)  based on company strategy 
D)  based on company desires 
A)  on the customer's terms 
B)  based on company data 
C)  based on company strategy 
D)  based on company desires

Question 19

When everyone in the company who touches the customer understands all aspects of the customer's relationship with the company, this is regarded as ________.

Accepted Answer

A)  owning the customer's total experience 
B)  streamlining business processes that impact the customer 
C)  having a 360-degree view of the customer relationship 
D)  fostering community 
A)  owning the customer's total experience 
B)  streamlining business processes that impact the customer 
C)  having a 360-degree view of the customer relationship 
D)  fostering community

Question 20

Which of the following is a facet of customer relationship management (CRM)?

Accepted Answer

A)  customer service 
B)  sales force automation 
C)  marketing automation 
D)  all of the above 
A)  customer service 
B)  sales force automation 
C)  marketing automation 
D)  all of the above

Social CRM does not retain any of the tenets of CRM 1.0.

Discuss the major principles behind Social CRM (CRM 2.0), and contrast it with CRM 1.0.

Which of the following is referred to as level one of relationship marketing?

Customer service occurs only post-purchase when customers have questions or complaints.

All of the following are metrics used to assess the internet's value in delivering CRM except ________.

Most customers would prefer to be brand disloyal in favor of finding the lowest price for each purchase, so marketers must entice them into loyalty through special offers.

In order to keep customers from viewing their communications as spam, the firm should build relationships by ________.

Software agents such as shopping agents and search engines ________.

Permission marketing dictates that customers will be pleased to receive e-mail for which they have opted-in.

Personalization involves ways that marketers individualize in an impersonal, computer networked environment.

Important tools that aid firms in customizing products to groups of customers or individuals include strategies that reside on the company's web and e-mail servers, and strategies that are initiated by internet users.

Using _________ firms can develop customized web pages based on visitor behavior.

The text notes that relationship marketing is practiced on three levels. Describe each of the three levels from the lowest to the highest.

Which of the following represents a major shift in current marketing practice?

Companies obtain transactional, behavioral, and interaction data about prospects, business customers, and end customers through ________.

One important tenet of CRM is that it is better to attract, retain, and grow customers than to focus only on customer acquisition.

As more companies integrate customer relationship management (CRM) and supply chain management (SCM) activities ________.

Social CRM means that companies must interact with customers ________.

When everyone in the company who touches the customer understands all aspects of the customer's relationship with the company, this is regarded as ________.

Which of the following is a facet of customer relationship management (CRM)?

Past, Present, and Future

Strategic E-Marketing and Performance Metrics

The E-Marketing Plan

Global E-Marketing 30

Ethical and Legal Issues

E-Marketing Research

Consumer Behavior Online

Segmentation, Targeting, Differentiation, and Positioning Strategies

Product: the Online Offer

Price: the Online Value

The Internet for Distribution

E-Marketing Communication: Owned Media

E-Marketing Communication: Paid Media

E-Marketing Communication: Earned Media

Filters

Exam 15: Customer Relationship Management

Social CRM does not retain any of the tenets of CRM 1.0.

Discuss the major principles behind Social CRM (CRM 2.0), and contrast it with CRM 1.0.

Which of the following is referred to as level one of relationship marketing?

Customer service occurs only post-purchase when customers have questions or complaints.

All of the following are metrics used to assess the internet's value in delivering CRM except ________.

Most customers would prefer to be brand disloyal in favor of finding the lowest price for each purchase, so marketers must entice them into loyalty through special offers.

In order to keep customers from viewing their communications as spam, the firm should build relationships by ________.

Software agents such as shopping agents and search engines ________.

Permission marketing dictates that customers will be pleased to receive e-mail for which they have opted-in.

Personalization involves ways that marketers individualize in an impersonal, computer networked environment.

Important tools that aid firms in customizing products to groups of customers or individuals include ________ strategies that reside on the company's web and e-mail servers, and ________ strategies that are initiated by internet users.

Using _________ firms can develop customized web pages based on visitor behavior.

The text notes that relationship marketing is practiced on three levels. Describe each of the three levels from the lowest to the highest.

Which of the following represents a major shift in current marketing practice?

Companies obtain transactional, behavioral, and interaction data about prospects, business customers, and end customers through ________.

One important tenet of CRM is that it is better to attract, retain, and grow customers than to focus only on customer acquisition.

As more companies integrate customer relationship management (CRM) and supply chain management (SCM) activities ________.

Social CRM means that companies must interact with customers ________.

When everyone in the company who touches the customer understands all aspects of the customer's relationship with the company, this is regarded as ________.

Which of the following is a facet of customer relationship management (CRM)?

Past, Present, and Future

Strategic E-Marketing and Performance Metrics

The E-Marketing Plan

Global E-Marketing 30

Ethical and Legal Issues

E-Marketing Research

Consumer Behavior Online

Segmentation, Targeting, Differentiation, and Positioning Strategies

Product: the Online Offer

Price: the Online Value

The Internet for Distribution

E-Marketing Communication: Owned Media

E-Marketing Communication: Paid Media

E-Marketing Communication: Earned Media

Filters

Important tools that aid firms in customizing products to groups of customers or individuals include strategies that reside on the company's web and e-mail servers, and strategies that are initiated by internet users.