Exam 21: Customer Relationship Management (CRM)

Which of the following would be an example of "social" CRM?

At its most fundamental level,a CRM approach is no more than:

Which type of list includes names and addresses of individuals who have responded to an offer of some kind?

When Amazon.com asks visitors to its Internet site to create wish lists and then invites them to send the lists to people who may be planning on buying them a present soon,it is relying on Web-based interactions to help it learn about its customers.

Data mining is used to find hidden patterns and relationships in the customer data stored in the data warehouse.

Which technique was likely used to suggest that a customer who wanted to buy a $29 shirt would also be a likely prospect for a cigar humidor?

Database elaboration is the addition of information to customer or prospect records for the purpose of better describing or better determining the responsiveness of those customers or prospects.

Outdoor gear retailer Recreational Equipment,Inc.(REI)in Washington collects a vast amount of data through its Web site,direct mailings,and retail stores.When REI considers new store locations,it examines order data to find places with high concentrations of customers buying online and through the company's catalogs.REI would be using _____ to identify potential store locations.

Customer relationship management is accomplished by all of the following EXCEPT:

The traditional approach for acquiring data from customers is through:

According to the CEO of Allied Office Products,"We're a head-count business: I know that if you have a 60-person office,you should buy $300 worth of basic office supplies-paper,pens,staples-from us with each order,but if that's all we get,we stagnate.For us to grow,we have to convince the customer,who already likes our products and service,to buy more than just basic supplies;we have to increase the order by 10,20,or 30 times." Allied's salespeople are trained to push the company's less traditional,higher-margin lines such as coffee and refreshments,printing and forms management,and office furniture.Allied's salespeople are engaging in:

Which of the following is a common CRM marketing database application?

All of the following are obstacles faced by multinational companies building worldwide databases EXCEPT:

The interaction between a customer and the organization is the foundation on which a CRM system is built.

Frequent Fliers If you think George Clooney's character in the movie Up in the Air was pure fiction,think again.Clooney portrayed a frequent flier who enjoyed top-of-the-line perks the likes of which even most "elite" fliers don't experience.That's because he was a member of American Airline's invitation-only ConciergeKey recognition program.Most airlines maintain these unpublished super elite frequent-flier plans,such as Continental's Chairman's Circle and Delta's Executive Partner programs.These programs are reserved for the highest-volume customers in terms of miles flown or highest-value in terms of revenue.You'll have to fly upwards of 300,000 miles or spend $50,000 a year to be invited. -Refer to Frequent Fliers.Airlines' commitment to providing premium customer service to its most valuable customers indicates a commitment to:

_____ is the percentage of customers that repeatedly purchase products from a customer.

Multinational companies often face difficult problems when pulling together internal data about their customers.

A common CRM application is cross-selling other products or services to customers.

In a speech,David Poirier,chief information officer of Hudson's Bay Company,a Canadian retailer,said,"We [Hudson's Bay Company] had all kinds of data in different places.We didn't have a single view of the customer until we focused on finding one method to manage relationships with our customers." Hudson's Bay would use a _____ to profile customer segments for better CRM marketing efforts.

Zappos is an online shoe and apparel retailer that promotes the highest quality customer service by maintaining the importance of each _____,the point at which customer and store personnel exchange information and develop learning relationships.