Question 1

Training managers and users in the key customer contact areas can help the firm decide what customizations to the CRM applications are required.

Accepted Answer

A) True 
 B)False

Question 2

A practical independent measure firms can take to improve information security is:

Accepted Answer

A) ​Eliminate employee internet use at work 
B) ​Do not collect information about their customers 
C) ​Continuously monitor employee desktop applications,e-mails and phone calls 
D) ​None of these 
A) ​Eliminate employee internet use at work 
B) ​Do not collect information about their customers 
C) ​Continuously monitor employee desktop applications,e-mails and phone calls 
D) ​None of these

Question 3

Only employees who will enter CRM data should be involved in the CRM implementation plan.

Accepted Answer

A) True 
 B)False

Question 4

Segmenting customers on the basis of things like products purchased,sales history,demographic information,and desired product features can dilute the results of a CRM program;segmenting customers should be avoided.

Accepted Answer

A) True 
 B)False

Question 5

Companies work very hard to reduce the number of their present customers which never return.This customer defection is often referred to as:​

Accepted Answer

A) ​Customer churn 
B) ​Clickstream defection 
C) ​Balking 
D) ​Revenue Exodus 
A) ​Customer churn 
B) ​Clickstream defection 
C) ​Balking 
D) ​Revenue Exodus

Question 6

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

Accepted Answer

A) ​Segmenting customers 
B) ​Cross-selling customers 
C) ​Increasing churn 
D) ​Finding customers 
A) ​Segmenting customers 
B) ​Cross-selling customers 
C) ​Increasing churn 
D) ​Finding customers

Question 7

While a company's Internet presence may be desirable for finding information or conducting product transfers,touching products and talking face-to-face with company representatives remains an integral part of the supplier-customer interface.

Accepted Answer

A) True 
 B)False

Question 8

All of the following are recommended for designing and implementing a successful CRM program EXCEPT:

Accepted Answer

A) ​Support from the firm's top executive 
B) ​Expect employees to 'learn on the job' and adapt their way of working 
C) ​Knowledge of the tools available to aid in CRM 
D) ​Continuous awareness of customers' changing requirements 
A) ​Support from the firm's top executive 
B) ​Expect employees to 'learn on the job' and adapt their way of working 
C) ​Knowledge of the tools available to aid in CRM 
D) ​Continuous awareness of customers' changing requirements

Question 9

Tire manufacturer Firebridge sells tires to retail firm A.Average annual sales for firm A is $55,000.Average profit margin is 15%.The expected lifetime is 10 years.Using a discount rate of 10 percent,calculate the Customer Lifetime Value of firm A and choose the closest answer below:

Accepted Answer

A) ​$5,500 
B) ​$50,693 
C) ​$38,590 
D) ​$25,675 
A) ​$5,500 
B) ​$50,693 
C) ​$38,590 
D) ​$25,675

Question 10

Your company's marketing efforts allow customers to "opt-out" of receiving email advertisers.This is referred to as:

Accepted Answer

A) ​Event-based marketing 
B) ​Permission marketing 
C) ​Customer churn 
D) ​Customer preference marketing 
A) ​Event-based marketing 
B) ​Permission marketing 
C) ​Customer churn 
D) ​Customer preference marketing

Question 11

CRM can allow organizations to identify which customers have stopped purchasing products or services from the organization so that the organization can target those former customers for future promotions and/or perhaps to investigate why they stopped purchasing in the first place.The CRM attribute is called:

Accepted Answer

A) ​Customer profitability determination 
B) ​Customer-base retention initiative 
C) ​Customer defection analysis 
D) ​Customer clickstream analysis 
A) ​Customer profitability determination 
B) ​Customer-base retention initiative 
C) ​Customer defection analysis 
D) ​Customer clickstream analysis

Question 12

In general,companies avoid social media sites since they rarely are able to find useful information about customer opinions via blogs and social networking sites.

Accepted Answer

A) True 
 B)False

Question 13

According to the text,poor planning is typically the cause for most unsuccessful CRM initiatives.

Accepted Answer

A) True 
 B)False

Question 14

You are a manager at Sunnydale Appliances.A customer who recently purchased a dishwasher contacts you with a problem and requests warranty information.According to the text,this is an example of:

Accepted Answer

A) ​Customer churn 
B) ​Posttransaction customer service 
C) ​Customer management 
D) ​Pretransaction customer service 
A) ​Customer churn 
B) ​Posttransaction customer service 
C) ​Customer management 
D) ​Pretransaction customer service

Question 15

Firms can safeguard customer information by doing which of the following?:

Accepted Answer

A) ​Allow customers to opt-in and out of mailing lists 
B) Allow customers to access their accounts online to view information collected about themselves​ 
C) Both A & B​ 
D) None of these​ 
A) ​Allow customers to opt-in and out of mailing lists 
B) Allow customers to access their accounts online to view information collected about themselves​ 
C) Both A & B​ 
D) None of these​

Question 16

According to the text,firms are using social media for all of the following EXCEPT:

Accepted Answer

A) ​To create user forums where customer questions are answered by other customers 
B) To listen to their customers​ 
C) To communicate to their customers​ 
D) To obtain leads for hiring new employees​ 
A) ​To create user forums where customer questions are answered by other customers 
B) To listen to their customers​ 
C) To communicate to their customers​ 
D) To obtain leads for hiring new employees​

Question 17

The online retailer Ecatalog.com has decided to send consumers of the new John Grisham book an e-mail with suggestions for books with similar themes and has also offered them a 20% discount if those suggested books were purchased.This type of marketing/promotion is an example of:

Accepted Answer

A) ​Target marketing 
B) ​Segmented selling 
C) ​Clickstream selling 
D) ​Cross-selling 
A) ​Target marketing 
B) ​Segmented selling 
C) ​Clickstream selling 
D) ​Cross-selling

Question 18

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

Accepted Answer

A) ​Salesperson politeness 
B) ​Customer complaint resolution 
C) ​Customer service policies 
D) ​The company's choice of organizational structure 
A) ​Salesperson politeness 
B) ​Customer complaint resolution 
C) ​Customer service policies 
D) ​The company's choice of organizational structure

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Up until now CRM has been very effective for most companies because it has focused on building customers' trust and loyalty,ultimately building a strong relationship with the customer through programs that make it easy for the customer to return products and get information from people inside the organization.

Accepted Answer

A) True 
 B)False

Training managers and users in the key customer contact areas can help the firm decide what customizations to the CRM applications are required.

A practical independent measure firms can take to improve information security is:

Only employees who will enter CRM data should be involved in the CRM implementation plan.

Segmenting customers on the basis of things like products purchased,sales history,demographic information,and desired product features can dilute the results of a CRM program;segmenting customers should be avoided.

Companies work very hard to reduce the number of their present customers which never return.This customer defection is often referred to as:

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

While a company's Internet presence may be desirable for finding information or conducting product transfers,touching products and talking face-to-face with company representatives remains an integral part of the supplier-customer interface.

All of the following are recommended for designing and implementing a successful CRM program EXCEPT:

Tire manufacturer Firebridge sells tires to retail firm A.Average annual sales for firm A is $55,000.Average profit margin is 15%.The expected lifetime is 10 years.Using a discount rate of 10 percent,calculate the Customer Lifetime Value of firm A and choose the closest answer below:

Your company's marketing efforts allow customers to "opt-out" of receiving email advertisers.This is referred to as:

In general,companies avoid social media sites since they rarely are able to find useful information about customer opinions via blogs and social networking sites.

According to the text,poor planning is typically the cause for most unsuccessful CRM initiatives.

You are a manager at Sunnydale Appliances.A customer who recently purchased a dishwasher contacts you with a problem and requests warranty information.According to the text,this is an example of:

Firms can safeguard customer information by doing which of the following?:

According to the text,firms are using social media for all of the following EXCEPT:

The online retailer Ecatalog.com has decided to send consumers of the new John Grisham book an e-mail with suggestions for books with similar themes and has also offered them a 20% discount if those suggested books were purchased.This type of marketing/promotion is an example of:

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

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

Introduction to Supply Chain Management

Purchasing Management

Creating and Managing Supplier Relationship

Ethical and Sustainable Sourcing

Demand Forecasting

Resource Planning Systems

Inventory Management

Process Management - Lean and Six Sigma in the Supply Chain

Domestic Usand Global Logistics

Global Location Decisions

Service Response Logistics

Supply Chain Process Integration

Performance Measurement Along the Supply Chain

Filters

Exam 10: Customer Relationship Management

Training managers and users in the key customer contact areas can help the firm decide what customizations to the CRM applications are required.

A practical independent measure firms can take to improve information security is:

Only employees who will enter CRM data should be involved in the CRM implementation plan.

Segmenting customers on the basis of things like products purchased,sales history,demographic information,and desired product features can dilute the results of a CRM program;segmenting customers should be avoided.

Companies work very hard to reduce the number of their present customers which never return.This customer defection is often referred to as:​

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

While a company's Internet presence may be desirable for finding information or conducting product transfers,touching products and talking face-to-face with company representatives remains an integral part of the supplier-customer interface.

All of the following are recommended for designing and implementing a successful CRM program EXCEPT:

Tire manufacturer Firebridge sells tires to retail firm A.Average annual sales for firm A is $55,000.Average profit margin is 15%.The expected lifetime is 10 years.Using a discount rate of 10 percent,calculate the Customer Lifetime Value of firm A and choose the closest answer below:

Your company's marketing efforts allow customers to "opt-out" of receiving email advertisers.This is referred to as:

In general,companies avoid social media sites since they rarely are able to find useful information about customer opinions via blogs and social networking sites.

According to the text,poor planning is typically the cause for most unsuccessful CRM initiatives.

You are a manager at Sunnydale Appliances.A customer who recently purchased a dishwasher contacts you with a problem and requests warranty information.According to the text,this is an example of:

Firms can safeguard customer information by doing which of the following?:

According to the text,firms are using social media for all of the following EXCEPT:

The online retailer Ecatalog.com has decided to send consumers of the new John Grisham book an e-mail with suggestions for books with similar themes and has also offered them a 20% discount if those suggested books were purchased.This type of marketing/promotion is an example of:

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

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

Introduction to Supply Chain Management

Purchasing Management

Creating and Managing Supplier Relationship

Ethical and Sustainable Sourcing

Demand Forecasting

Resource Planning Systems

Inventory Management

Process Management - Lean and Six Sigma in the Supply Chain

Domestic Usand Global Logistics

Global Location Decisions

Service Response Logistics

Supply Chain Process Integration

Performance Measurement Along the Supply Chain

Filters

Companies work very hard to reduce the number of their present customers which never return.This customer defection is often referred to as:

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