Question 1

Customization can refer to

Accepted Answer

A) adaptation in SFA. 
B) CRM adapted to a specific company functional area. 
C) all of the above 
D) none of above 
E) cross-selling in a one-to-one situation. 
A) adaptation in SFA. 
B) CRM adapted to a specific company functional area. 
C) all of the above 
D) none of above 
E) cross-selling in a one-to-one situation. D

Question 2

Lifestyle stores such as Pottery Barn bundle products very cleverly. This exemplifies cross-selling.

Accepted Answer

A) True 
 B)False  True

Question 3

Reinartz and Kumar found that loyalty programs simply don't work.

Accepted Answer

A) True 
 B)False  False

Question 4

Customization can refer to

Accepted Answer

A) personalized control of a company website. 
B) company-controlled modifications to a person's Web site. 
C) one-on-one focused mass personalization. 
D) idiosyncratic fit adaptation. 
E) none of the above 
A) personalized control of a company website. 
B) company-controlled modifications to a person's Web site. 
C) one-on-one focused mass personalization. 
D) idiosyncratic fit adaptation. 
E) none of the above

Question 5

Which of the following is false concerning dialogue marketing:

Accepted Answer

A) It involves continuous or streaming technology. 
B) It can be based on each and every customer interaction with the business. 
C) It is very sensitive to the intervals between customer purchases, store visits and contact. 
D) It is more effective in cross-selling when calls are outbound from the company vs. inbound from the customer. 
E) all of the above are true 
A) It involves continuous or streaming technology. 
B) It can be based on each and every customer interaction with the business. 
C) It is very sensitive to the intervals between customer purchases, store visits and contact. 
D) It is more effective in cross-selling when calls are outbound from the company vs. inbound from the customer. 
E) all of the above are true

Question 6

Conversational marketing is identical with dialogue marketing.

Accepted Answer

A) True 
 B)False

Question 7

Personalization refers to

Accepted Answer

A) a company-controlled website that a customer can modify to suit his or her purposes. 
B) idiosyncratic fit. 
C) customization. 
D) one-on-one up-selling. 
E) all of the above 
A) a company-controlled website that a customer can modify to suit his or her purposes. 
B) idiosyncratic fit. 
C) customization. 
D) one-on-one up-selling. 
E) all of the above

Question 8

Frequent flyer programs, customer point programs, and frequency programs are all examples of which type of tactic?

Accepted Answer

A) preferential treatment 
B) rewarding 
C) personalization 
D) up-selling 
E) profit-driving 
A) preferential treatment 
B) rewarding 
C) personalization 
D) up-selling 
E) profit-driving

Question 9

Dialogue marketing send messages based on demographic changes and life events for each and every customer in the database.

Accepted Answer

A) True 
 B)False

Question 10

Migration is perhaps more important than customer retention.

Accepted Answer

A) True 
 B)False

Question 11

Retention strategies work best when

Accepted Answer

A) there is no skew in the company's customer base. 
B) there is no elite segment of high profit customers. 
C) industry retention levels are low. 
D) there is a steep skew in a company's customer base. 
E) A and B 
A) there is no skew in the company's customer base. 
B) there is no elite segment of high profit customers. 
C) industry retention levels are low. 
D) there is a steep skew in a company's customer base. 
E) A and B

Question 12

Which company prepared a "Demon" customer list of those who have been told not to shop there anymore?

Accepted Answer

A) Microsoft 
B) Apple 
C) Home Depot 
D) Best Buy 
E) Barnes and Noble 
A) Microsoft 
B) Apple 
C) Home Depot 
D) Best Buy 
E) Barnes and Noble

Question 13

When customers enjoy a relative advantage in enrolling in a program, this is referred to as

Accepted Answer

A) personalization. 
B) Customization. 
C) idiosyncratic fit. 
D) preferential treatment. 
E) attaining intimacy. 
A) personalization. 
B) Customization. 
C) idiosyncratic fit. 
D) preferential treatment. 
E) attaining intimacy.

Question 14

Lifestyle stores such as Pottery Barn is exemplifying which of the following by bundling products cleverly?

Accepted Answer

A) up-selling 
B) idiosyncratic fit bundling 
C) cross-selling 
D) trading up 
E) customization 
A) up-selling 
B) idiosyncratic fit bundling 
C) cross-selling 
D) trading up 
E) customization

Question 15

Each year, companies lose

Accepted Answer

A) 10-20% of their customers. 
B) 20-40% of their customers. 
C) 40-60% of their customers. 
D) 60-80% of their customers. 
E) 15-25% of their customers. 
A) 10-20% of their customers. 
B) 20-40% of their customers. 
C) 40-60% of their customers. 
D) 60-80% of their customers. 
E) 15-25% of their customers.

Question 16

Retention strategies work best when industry retention levels are high and there is no steep skew in a company's customer base.

Accepted Answer

A) True 
 B)False

Question 17

Companies lose 40-60% of their customers each year.

Accepted Answer

A) True 
 B)False

Question 18

Migration

Accepted Answer

A) is the same as customer "churn" or customer attrition. 
B) can provide five to ten r times more profit than retention control. 
C) is the change in customer value over time. 
D) refers to modifications in many loyalty programs as they reach the maturity stage. 
E) all of the above except D refers to movements in a customer's life-stage 
A) is the same as customer "churn" or customer attrition. 
B) can provide five to ten r times more profit than retention control. 
C) is the change in customer value over time. 
D) refers to modifications in many loyalty programs as they reach the maturity stage. 
E) all of the above except D refers to movements in a customer's life-stage

Question 19

Companies should develop retention strategies based on all EXCEPT which of the following?

Accepted Answer

A) monetary rewards 
B) social bonds 
C) service structure 
D) humanistic bonds 
E) all are relevant 
A) monetary rewards 
B) social bonds 
C) service structure 
D) humanistic bonds 
E) all are relevant

Question 20

Which of the following is NOT true regarding adverse selection?

Accepted Answer

A) It involves avoiding individuals who will have no interest in your offering. 
B) It involves avoiding individuals who will not qualify for your offering. 
C) Adverse selection wastes time and money in company promotional efforts. 
D) Adverse selection can create bad word-of-mouth. 
E) all of the above are true 
A) It involves avoiding individuals who will have no interest in your offering. 
B) It involves avoiding individuals who will not qualify for your offering. 
C) Adverse selection wastes time and money in company promotional efforts. 
D) Adverse selection can create bad word-of-mouth. 
E) all of the above are true

Customization can refer to

Lifestyle stores such as Pottery Barn bundle products very cleverly. This exemplifies cross-selling.

Reinartz and Kumar found that loyalty programs simply don't work.

Customization can refer to

Which of the following is false concerning dialogue marketing:

Conversational marketing is identical with dialogue marketing.

Personalization refers to

Frequent flyer programs, customer point programs, and frequency programs are all examples of which type of tactic?

Dialogue marketing send messages based on demographic changes and life events for each and every customer in the database.

Migration is perhaps more important than customer retention.

Retention strategies work best when

Which company prepared a "Demon" customer list of those who have been told not to shop there anymore?

When customers enjoy a relative advantage in enrolling in a program, this is referred to as

Lifestyle stores such as Pottery Barn is exemplifying which of the following by bundling products cleverly?

Each year, companies lose

Retention strategies work best when industry retention levels are high and there is no steep skew in a company's customer base.

Companies lose 40-60% of their customers each year.

Migration

Companies should develop retention strategies based on all EXCEPT which of the following?

Which of the following is NOT true regarding adverse selection?

Introduction to Customer Relationship Management

The History and Development of CRM

Relationship Marketing and CRM

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Database and Customer Data Development

Business-To-Business CRM

Understanding the Customercompany Profit Chain: Satisfaction, Loyalty, Retention, and Profits

Privacy and Ethics Considerations

CRM Program Measurement and Tools

Social Networking and CRM

CRM Trends, Challenges, and Opportunities

Filters

Exam 10: The CRM Strategy Cycle: Acquisition, Retention

Customization can refer to

Lifestyle stores such as Pottery Barn bundle products very cleverly. This exemplifies cross-selling.

Reinartz and Kumar found that loyalty programs simply don't work.

Customization can refer to

Which of the following is false concerning dialogue marketing:

Conversational marketing is identical with dialogue marketing.

Personalization refers to

Frequent flyer programs, customer point programs, and frequency programs are all examples of which type of tactic?

Dialogue marketing send messages based on demographic changes and life events for each and every customer in the database.

Migration is perhaps more important than customer retention.

Retention strategies work best when

Which company prepared a "Demon" customer list of those who have been told not to shop there anymore?

When customers enjoy a relative advantage in enrolling in a program, this is referred to as

Lifestyle stores such as Pottery Barn is exemplifying which of the following by bundling products cleverly?

Each year, companies lose

Retention strategies work best when industry retention levels are high and there is no steep skew in a company's customer base.

Companies lose 40-60% of their customers each year.

Migration

Companies should develop retention strategies based on all EXCEPT which of the following?

Which of the following is NOT true regarding adverse selection?

Introduction to Customer Relationship Management

The History and Development of CRM

Relationship Marketing and CRM

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Database and Customer Data Development

Business-To-Business CRM

Understanding the Customercompany Profit Chain: Satisfaction, Loyalty, Retention, and Profits

Privacy and Ethics Considerations

CRM Program Measurement and Tools

Social Networking and CRM

CRM Trends, Challenges, and Opportunities

Filters