Exam 10: Customer Relationship Management

Through the use of permission marketing programs, customers are allowed to select the type of communications that companies can make with them.Actually, customers can even choose to be completely eliminated from both e-mail and traditional mailing lists.

The textbook describes a perfect order as one in which all of seven of the rules in the "Seven Rs Rule" are satisfied.List five of the seven R's.

The objectives of any CRM initiative should be focused on what the company can reasonably achieve.

When CRM applications are available 24/7 on smartphones, tablets, and desktops, this is referred to as:

Which of the following customer service elements can be classified as an example of posttransaction elements?

Safeguarding customer information is a legal and ethical responsibility for any company collecting, processing, and transmitting sensitive customer data.

All of the following are required elements for the development of an effective CRM initiative EXCEPT:

A firm offers group discount for orders exceeding 15.Two firms are taking advantage of this offer.Sales to Company A averages $15, 000 of annual sales, has a 22% profit margin and an expected lifetime of 8 years.Company B averages $11, 000 of annual sales, has a 25% profit margin and an expected lifetime of 9 years.Which is the more important customer based on the higher expected lifetime value? Assume a 7% discount rate.

Which of the following is one of the most basic and important activities of CRM?

Customer lifetime value is calculated as the net present value of an annuity.

CRM systems today require less training because:

The use of quick response codes (QR Codes) to retrieve marketing information is a type of:

Small data is the data that was around before big data.