Question 1

Customer relationship management requires that organizations be organized around customer segments.

Accepted Answer

A) True 
 B)False

Question 2

Les Ailes de la Mode,a Quebec retail store that promotes the highest quality of customer service,has not only established itself as a top retailer in the province but also has a credit card and point program company,a cataloger and Internet seller,and even a publisher.Through gathering customer information for its credit cards and point program,through catalog and Internet orders,and through subscriptions to its publications,Les Ailes de la Mode has created several different:

Accepted Answer

A) focus areas. 
B) touch points. 
C) interrelationship promotions. 
D) distribution channels. 
E) sources of distribution information. 
A) focus areas. 
B) touch points. 
C) interrelationship promotions. 
D) distribution channels. 
E) sources of distribution information.

Question 3

_____ is a company-wide business strategy designed to optimize profitability,revenue,and customer satisfaction by focusing on highly defined and precise customer groups.

Accepted Answer

A) Organizational optimization 
B) Consumer relationship marketing (CRM) 
C) Total quality management (TQM) 
D) Customer relationship management (CRM) 
E) Market aggregation 
A) Organizational optimization 
B) Consumer relationship marketing (CRM) 
C) Total quality management (TQM) 
D) Customer relationship management (CRM) 
E) Market aggregation

Question 4

Customer relationship management is accomplished by all of the following EXCEPT:

Accepted Answer

A) offering the lowest prices of all major competitors. 
B) organizing the company around customer segments. 
C) establishing and tracking customer interactions with the company. 
D) fostering customer-satisfying behaviors. 
E) linking all processes of the company from its customers through its suppliers. 
A) offering the lowest prices of all major competitors. 
B) organizing the company around customer segments. 
C) establishing and tracking customer interactions with the company. 
D) fostering customer-satisfying behaviors. 
E) linking all processes of the company from its customers through its suppliers.

Question 5

Los Angeles Sparks
The WMBA's Los Angeles Sparks is an example of a sports franchise adopting a CRM approach to grow its fan base.The Sparks CRM system,provided by software vendor "Smart Button" manages all e-mail promotions sent to fans.Additionally,the Sparks's online fan site keeps fans informed of upcoming games,practices open to the public,team events,and more.The Sparks also instituted their new Home Court Advantage program that awards season ticket holders points for each seat they purchased for the season and ticket holders can give these points to others.The ticket holders can earn extra points by telling Sparks at ticket renewal time who is getting the seats.At the end of the season,the top three point-givers receive cash prizes.The Sparks organization is gathering information on the ticket holder as well as the people who attend games with the free tickets.As a result,the Sparks have seen a sharp rise in late-season ticket sales this year.
-Refer to Los Angeles Sparks.The information gathered from ticket holders will probably become part of the organization's _____ list.

Accepted Answer

A) compiled 
B) cookies 
C) response 
D) electronic cash 
E) Internet research 
A) compiled 
B) cookies 
C) response 
D) electronic cash 
E) Internet research

Question 6

What is RFID technology? Explain why it is used and how it works,and describe the main implication of this technology.

Accepted Answer

Companies use radio-frequency identifica

Question 7

Which of the following is an example of a channel through which customer data are traditionally gathered?

Accepted Answer

A) Store visits 
B) Conversations with salespeople 
C) Interactions via the Web 
D) Phone conversations 
E) All of these 
A) Store visits 
B) Conversations with salespeople 
C) Interactions via the Web 
D) Phone conversations 
E) All of these

Question 8

The core of the data warehouse is:

Accepted Answer

A) empowered employees. 
B) transaction channels of communication. 
C) point-of-sale interactions. 
D) the database. 
E) a compiled list. 
A) empowered employees. 
B) transaction channels of communication. 
C) point-of-sale interactions. 
D) the database. 
E) a compiled list.

Question 9

A(n)_____ is a collection of data,especially one that can be accessed and manipulated by computer software.

Accepted Answer

A) database 
B) data profile 
C) algorithm 
D) byte 
E) interaction profile 
A) database 
B) data profile 
C) algorithm 
D) byte 
E) interaction profile

Question 10

L.L.Bean has been reducing the number of catalogs it sends out while increasing its sales and profits.With _____,L.L.Bean now identifies customers who have purchased recently and often have spent considerable money.Such customers are most likely to purchase again.

Accepted Answer

A) predictive data 
B) trending 
C) correlation analysis 
D) recency-frequency-monetary analysis 
E) hypothesis testing 
A) predictive data 
B) trending 
C) correlation analysis 
D) recency-frequency-monetary analysis 
E) hypothesis testing

Question 11

Petco executive John Lazarchic says that critical reviews from the Web site instigate changes.This suggests that Petco is a customer-centric organization.

Accepted Answer

A) True 
 B)False

Question 12

Channel interactions are the relationships a manufacturer has with its distributors.

Accepted Answer

A) True 
 B)False

Question 13

Jan Riddle has limited money to invest in a mailing to people who might be interested in subscribing to a new magazine about raising children on the autism spectrum.She wants to reach those prospects with the highest probability of becoming subscribers.Riddle should use a:

Accepted Answer

A) compiled list. 
B) data mine. 
C) response list. 
D) management database. 
E) data warehouse activation. 
A) compiled list. 
B) data mine. 
C) response list. 
D) management database. 
E) data warehouse activation.

Question 14

"Lots of organizations have customer data,but not in a way that's useful," said a speaker at a recent retail marketing conference."Retailers have all kinds of data in different places--they don't have a single view of the customer." The speaker is saying that retailers do NOT use:

Accepted Answer

A) information distribution centers. 
B) data warehouses. 
C) information extraction mines. 
D) data intermediaries. 
E) marketing information systems. 
A) information distribution centers. 
B) data warehouses. 
C) information extraction mines. 
D) data intermediaries. 
E) marketing information systems.

Question 15

Que Rica VidaGeneral Mills has created Que Rica Vida magazine,which seeks to build relationships with newly acculturated Latina moms by providing them with culturally relevant lifestyle information and expert advice on the topics of education,holiday occasions,health and wellness,and family-issues of great importance to Hispanic families in America.Each issue normally contains 6-10 General Mills coupons.In addition to the magazine,General Mills also has a Web site of the same name: QueRicaVida.com,as well as a Spanish-language iPad application that provides Spanish-speaking consumers with instant access to more than 900 Latin-inspired recipes.
-Refer to Que Rica Vida.To be useful to the whole organization,the data collected by Kraft Foods through their food & family magazine initiative must be centralized.This process of centralizing data for a CRM system is termed:

Accepted Answer

A) data packing. 
B) data pooling. 
C) data cleaning. 
D) data mining. 
E) data warehousing. 
A) data packing. 
B) data pooling. 
C) data cleaning. 
D) data mining. 
E) data warehousing.

Question 16

A _____ is a central repository for data from various functional areas of the organization that are stored and inventoried on a centralized computer system so that information can be shared across all functional departments of the business.

Accepted Answer

A) data mart 
B) customer information system 
C) data warehouse 
D) decision support system 
E) data cluster 
A) data mart 
B) customer information system 
C) data warehouse 
D) decision support system 
E) data cluster

Question 17

The cable industry needs to identify current and future traffic patterns so it can manage the growth of cable systems.Because of high costs,it is undesirable to buy bandwidth before it is needed.It is also time-consuming to upgrade a cable system.Furthermore,consumers hate to wait for capacity increases.Therefore,the industry should use _____ to determine when and where new systems should be implemented.

Accepted Answer

A) lifetime analysis 
B) recency-frequency-monetary analysis 
C) cross-selling 
D) speed of data communications 
E) predictive modeling 
A) lifetime analysis 
B) recency-frequency-monetary analysis 
C) cross-selling 
D) speed of data communications 
E) predictive modeling

Question 18

Los Angeles Sparks
The WMBA's Los Angeles Sparks is an example of a sports franchise adopting a CRM approach to grow its fan base.The Sparks CRM system,provided by software vendor "Smart Button" manages all e-mail promotions sent to fans.Additionally,the Sparks's online fan site keeps fans informed of upcoming games,practices open to the public,team events,and more.The Sparks also instituted their new Home Court Advantage program that awards season ticket holders points for each seat they purchased for the season and ticket holders can give these points to others.The ticket holders can earn extra points by telling Sparks at ticket renewal time who is getting the seats.At the end of the season,the top three point-givers receive cash prizes.The Sparks organization is gathering information on the ticket holder as well as the people who attend games with the free tickets.As a result,the Sparks have seen a sharp rise in late-season ticket sales this year.
-Refer to Los Angeles Sparks.Home Court Advantage is an example of a _____ program.

Accepted Answer

A) reward 
B) incentive 
C) co-branding 
D) loyalty 
E) cohort 
A) reward 
B) incentive 
C) co-branding 
D) loyalty 
E) cohort

Question 19

Privacy issues are the primary reason for centralizing data in a CRM.

Accepted Answer

A) True 
 B)False

Question 20

Briefly describe how and why an organization uses data mining.What are some commonly used types of data analysis?

Accepted Answer

Data mining is used to find hidden patte

Customer relationship management requires that organizations be organized around customer segments.

_____ is a company-wide business strategy designed to optimize profitability,revenue,and customer satisfaction by focusing on highly defined and precise customer groups.

Customer relationship management is accomplished by all of the following EXCEPT:

What is RFID technology? Explain why it is used and how it works,and describe the main implication of this technology.

Which of the following is an example of a channel through which customer data are traditionally gathered?

The core of the data warehouse is:

A(n)_____ is a collection of data,especially one that can be accessed and manipulated by computer software.

L.L.Bean has been reducing the number of catalogs it sends out while increasing its sales and profits.With _____,L.L.Bean now identifies customers who have purchased recently and often have spent considerable money.Such customers are most likely to purchase again.

Petco executive John Lazarchic says that critical reviews from the Web site instigate changes.This suggests that Petco is a customer-centric organization.

Channel interactions are the relationships a manufacturer has with its distributors.

Jan Riddle has limited money to invest in a mailing to people who might be interested in subscribing to a new magazine about raising children on the autism spectrum.She wants to reach those prospects with the highest probability of becoming subscribers.Riddle should use a:

"Lots of organizations have customer data,but not in a way that's useful," said a speaker at a recent retail marketing conference."Retailers have all kinds of data in different places--they don't have a single view of the customer." The speaker is saying that retailers do NOT use:

A _____ is a central repository for data from various functional areas of the organization that are stored and inventoried on a centralized computer system so that information can be shared across all functional departments of the business.

Privacy issues are the primary reason for centralizing data in a CRM.

Briefly describe how and why an organization uses data mining.What are some commonly used types of data analysis?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Integrated Marketing Communications

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Social Media and Marketing

Filters

Exam 21: Customer Relationship Management Crm

Customer relationship management requires that organizations be organized around customer segments.

_____ is a company-wide business strategy designed to optimize profitability,revenue,and customer satisfaction by focusing on highly defined and precise customer groups.

Customer relationship management is accomplished by all of the following EXCEPT:

What is RFID technology? Explain why it is used and how it works,and describe the main implication of this technology.

Which of the following is an example of a channel through which customer data are traditionally gathered?

The core of the data warehouse is:

A(n)_____ is a collection of data,especially one that can be accessed and manipulated by computer software.

L.L.Bean has been reducing the number of catalogs it sends out while increasing its sales and profits.With _____,L.L.Bean now identifies customers who have purchased recently and often have spent considerable money.Such customers are most likely to purchase again.

Petco executive John Lazarchic says that critical reviews from the Web site instigate changes.This suggests that Petco is a customer-centric organization.

Channel interactions are the relationships a manufacturer has with its distributors.

Jan Riddle has limited money to invest in a mailing to people who might be interested in subscribing to a new magazine about raising children on the autism spectrum.She wants to reach those prospects with the highest probability of becoming subscribers.Riddle should use a:

"Lots of organizations have customer data,but not in a way that's useful," said a speaker at a recent retail marketing conference."Retailers have all kinds of data in different places--they don't have a single view of the customer." The speaker is saying that retailers do NOT use:

A _____ is a central repository for data from various functional areas of the organization that are stored and inventoried on a centralized computer system so that information can be shared across all functional departments of the business.

Privacy issues are the primary reason for centralizing data in a CRM.

Briefly describe how and why an organization uses data mining.What are some commonly used types of data analysis?

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Integrated Marketing Communications

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Social Media and Marketing

Filters