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Most agree that a comprehensive CRM system should contain four major technology components. What are these four technology components?

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1. Data Warehouse
2. Analytica...

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Please comment on the correctness or incorrectness of the following statement:"Companies should make it their goal to attract the greatest number of customers. After all, every customer counts; and growing market share is an important measure of success."

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Contrary to the mechanics underlying the...

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What is de-marketing?

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De-marketing is marketers' attempts to l...

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With respect to web sites, what do the terms "customization" and "personalization" refer to?

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With customization, the company modifies the web site to suit the needs of thecustomer. With personalization, the customer modifies the web site to suit his/herown purposes.

CRM enables companies to have one-to-one dialogues with their customers. What are some of the benefits of having dialogues with your customers?

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Dialogues enable a company to: • Maintain continuous connections with customers • Provide customers with customized products and services • Involve the customer as a partner in development and production of products and services • Avoid customer dissatisfaction

How do dissatisfied customers drain company resources?

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• They are more likely to "chu...

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360 degree view of the customer means:


A) A consistent view of the customer from beginning to end of the relationship
B) Customer data from all business areas
C) Customer data from all touch points
D) A hierarchy of effects of customer behavior
E) A,B and C are all aspects of a 360 degree view

F) D) and E)
G) A) and E)

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Why have CRM systems been adopted and developed so quickly by financialinstitutions and readily accepted by their customers?

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answer. Consumers are more willing to en...

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What are the objectives of any CRM system?

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The objectives of CRM systems include: • Identification of potential customers • Understanding of customer needs, both current and latent • Differentiating profitable from unprofitable customers and segments • Decreasing attrition by increasing value and satisfaction • Increasing usage of current products and services • Increasing usage of a greater number of a company's products and services • Increasing usage of more prestige items produced by a company (trading-up) • Increasing customer service and satisfaction • Improving campaign management • Increasing referrals • Winning back lost customers • Moving customers up the relationship hierarchy from strangers to acquaintances to friends to partners • Integrating marketing and sales efforts throughout the various channels used by the company

According to Kutner and Cripps, CRM is founded on four tenets: What are these four tenets?

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• Customers should be managed as importa...

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