Question 1

According to the findings of a TD Canada Trust loyalty poll, almost half of customers ranked reward programs as their number one priority.

Accepted Answer

A) True 
 B)False

Question 2

The reflection of a company's vision and mission statement on a customer-centric sentiment determines the company's state of cultural attitudes.

Accepted Answer

A) True 
 B)False

Question 3

Kretny Inc.collects information from phone centres, Internet sites, and contacts that salespeople have with their customers.These contacts are called touch points.

Accepted Answer

A) True 
 B)False

Question 4

Companies are often tempted to encourage consumers to say positive things about their brand on a social media platform, thus affecting the company's credibility.

Accepted Answer

A) True 
 B)False

Question 5

A _____ is any situation in which a customer comes into contact with a brand or company.

Accepted Answer

A) tangible contact 
B) touch point 
C) stimulus 
D) response centre

Question 6

_____ is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.

Accepted Answer

A) Customer experience management 
B) Customer branding 
C) Customer reward program 
D) Customer relationship management

Question 7

What is data mining?

Accepted Answer

The answer of What is data mining?...

Question 8

When Philip returns for a second stay at The Banff Spring Hotel, the guest executive asks him for his preferences without bothering to refer to the database.Which of the following likely caused the executive to do so?

Accepted Answer

A) The executive had a low morale because of being unappreciated by his supervisors. 
B) It is culturally not right to follow the database. 
C) A CRM software needs to be updated every two weeks. 
D) Asking a second time for individual preferences is an example of attitude change by management, which is an essential aspect of CRM.

Question 9

Philip, who went to pick up his car after servicing, noticed that his tennis racquet, which he had left behind in the car, was missing.When he approached the car dealer, he was given an apology and a cheque for a new racquet.The dealer, although not at fault, took care of the mishap as a favour to the customer.The dealer, thus, was giving importance to customer lifetime _____.

Accepted Answer

A) motive 
B) value 
C) behaviour 
D) attention

Question 10

Which of the following is true about cultural changes that CRM entails?

Accepted Answer

A) The degree to which customers feel appreciated will help a firm assess its state of cultural attitudes. 
B) The cultural attitudes of the organization must not change internally. 
C) The average business executive goes into CRM thinking it's about strategy. 
D) The benefits of implementing CRM software are greater if the company adopts a CRM culture.

Question 11

Buyers palace.ca, an online platform for purchasing books, frequently suggests for members a personalized list of books based on their previous purchases.This is an example of customer relationship management.

Accepted Answer

A) True 
 B)False

Question 12

Investing in CRM software will not alleviate all your customer satisfaction problems.Explain and give an example.

Accepted Answer

The answer of Investing in CRM software will not alleviate...

Question 13

The potential sales that will be generated by a customer if the customer remains loyal to that company for a lifetime are referred to as customer lifetime _____.

Accepted Answer

A) motive 
B) value 
C) behaviour 
D) profits

Question 14

Pluto Inc.wants to evaluate its internal culture and assess how close it is to developing a CRM culture before actually purchasing the CRM software.What questions must Pluto Inc.consider answering?

Accepted Answer

The answer of Pluto Inc.wants to evaluate its internal culture...

Question 15

Companies are beginning to focus on the _____ of a customer if that customer remains loyal to the firm over the customer's lifetime.

Accepted Answer

A) emotional motives 
B) value 
C) behaviour 
D) affordability

Question 16

Along with bringing changes to the store layout, Magnet Inc.has also created rooms that resemble a home to show customers exactly how the products will look when they are installed.This will personalize the customer's experience, which will help Magnet Inc.in building customer relationships.This focus is an example of customer lifetime _____.

Accepted Answer

A) motive 
B) value 
C) behaviour 
D) profits

Question 17

Magnet Inc.was storing all the data about customers in a central place.This central place is referred to as a _____.

Accepted Answer

A) customer hub 
B) data index 
C) data warehouse 
D) data file manager

Question 18

Social media is being increasingly used by the airline industry to the extent that it allows an unhappy passenger waiting in a check-in line to get his complaint resolved in no time by tweeting his dissatisfaction while in queue.

Accepted Answer

A) True 
 B)False

Question 19

Information about customers can be used to create marketing programs that

Accepted Answer

A) Predict customer behaviour 
B) Result in customer satisfaction 
C) Increase the cost of acquiring customers 
D) Lower the lifetime value of a customer

Question 20

Swifttrade.com, an online trading site, makes a special effort to ask customers when and how they would like to be contacted and stores this information in its database.This practice allows Swifttrade.com to channel its brand _____.

Accepted Answer

A) loyalty 
B) image 
C) value 
D) communication

Exam 14: Customer Relationship Management

According to the findings of a TD Canada Trust loyalty poll, almost half of customers ranked reward programs as their number one priority.

The reflection of a company's vision and mission statement on a customer-centric sentiment determines the company's state of cultural attitudes.

Kretny Inc.collects information from phone centres, Internet sites, and contacts that salespeople have with their customers.These contacts are called touch points.

Companies are often tempted to encourage consumers to say positive things about their brand on a social media platform, thus affecting the company's credibility.

A _____ is any situation in which a customer comes into contact with a brand or company.

_____ is the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.

What is data mining?

When Philip returns for a second stay at The Banff Spring Hotel, the guest executive asks him for his preferences without bothering to refer to the database.Which of the following likely caused the executive to do so?

Which of the following is true about cultural changes that CRM entails?

Buyers palace.ca, an online platform for purchasing books, frequently suggests for members a personalized list of books based on their previous purchases.This is an example of customer relationship management.

Investing in CRM software will not alleviate all your customer satisfaction problems.Explain and give an example.

The potential sales that will be generated by a customer if the customer remains loyal to that company for a lifetime are referred to as customer lifetime _____.

Pluto Inc.wants to evaluate its internal culture and assess how close it is to developing a CRM culture before actually purchasing the CRM software.What questions must Pluto Inc.consider answering?

Companies are beginning to focus on the _____ of a customer if that customer remains loyal to the firm over the customer's lifetime.

Magnet Inc.was storing all the data about customers in a central place.This central place is referred to as a _____.

Social media is being increasingly used by the airline industry to the extent that it allows an unhappy passenger waiting in a check-in line to get his complaint resolved in no time by tweeting his dissatisfaction while in queue.

Information about customers can be used to create marketing programs that

Swifttrade.com, an online trading site, makes a special effort to ask customers when and how they would like to be contacted and stores this information in its database.This practice allows Swifttrade.com to channel its brand _____.