Exam 10: Customer Relationship Management

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

The element of a CRM program involved with the use of data-mining software and customer behavior analytics is:

Companies work very hard to reduce the number of customers who don't return.This customer defection is often referred to as:

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:

Because a large number of CRM applications exist, integrating these in one company can be problematic.Briefly describe the issue and discuss how integration can be achieved.

You work for a company that segments customers by demographic information, and then markets specifically to those customers who are located in the Los Angeles area.This is an example of:

A system which allows sales managers to obtain current information and reporting capabilities regarding each salesperson's activities on each customer's account is referred to as a:

Which of the following is a U.S.law which requires compliance by all firms engaged in handling customer information?

Your top sales executive leaves your company to work for a competitor.Fortunately, all of her notes regarding prior dealings with customers have been captured in a:

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.

A CRM program primarily attempts to monitor and/or manage three things: an organization's customers, sales force, and customer service level. List two different tools or components of CRM for each of three areas: a.Customers b.Sales Force c.Customer Service Level Describe how each tool or component is utilized in the monitoring and/or managing of the customers, sales force, or customer service level.

A customer's lifetime value is calculated by:

The use of small data makes CRM systems less successful.

A good CRM program is only good if it is successfully implemented.Describe three important elements a firm should consider when designing and implementing a CRM program.

Your company allows customers to "opt-out" of receiving email advertisements.This is referred to as:

Continuous connectivity is desired by many users of CRM applications, however this is still something the systems can't deliver yet.

For the information given, rank the two customers in terms of their customer lifetime value. Use a discount rate of 8 percent and treat the average sales figures as annuities.

As customers navigate through a company's website, CRM software can record and analyze the customer's clickstream so website images and ads can be tailored to the needs and desires of that one individual customer.

CRM systems allow organizations to identify which customers have stopped purchasing products or services, 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.This CRM attribute is called:

According to the text, customer relationship management refers to building and maintaining profitable long-term customer relationships.