Question 1

What are the objectives of any CRM system?

Accepted Answer

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

Question 2

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

Accepted Answer

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.

Question 3

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

Accepted Answer

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

Question 4

360 degree view of the customer means:

Accepted Answer

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 
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

Question 5

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

Accepted Answer

answer. Consumers are more willing to en

Question 6

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."

Accepted Answer

Contrary to the mechanics underlying the

Question 7

How do dissatisfied customers drain company resources?

Accepted Answer

• They are more likely to "chu

Question 8

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

Accepted Answer

• Customers should be managed as importa

Question 9

What is de-marketing?

Accepted Answer

De-marketing is marketers' attempts to l

Question 10

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

Accepted Answer

1. Data Warehouse
2. Analytica

What are the objectives of any CRM system?

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

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

360 degree view of the customer means:

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

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."

How do dissatisfied customers drain company resources?

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

What is de-marketing?

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

History and Development of CRM

Relationship Marketing and Customer Relationship Management

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Database and Customer Data Development

Sales Strategy and CRM

CRM, Technology, and Sales

Marketing Strategy and CRM

CRM, Marketing Automation, and Communication

CRM Program Measurement and Tools

Privacy and Ethics Considerations

The Future of CRM

Filters

Exam 1: Principles of CRM

What are the objectives of any CRM system?

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

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

360 degree view of the customer means:

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

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."

How do dissatisfied customers drain company resources?

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

What is de-marketing?

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

History and Development of CRM

Relationship Marketing and Customer Relationship Management

Organization and CRM

CRM and Data Management

Technology and Data Platforms

Database and Customer Data Development

Sales Strategy and CRM

CRM, Technology, and Sales

Marketing Strategy and CRM

CRM, Marketing Automation, and Communication

CRM Program Measurement and Tools

Privacy and Ethics Considerations

The Future of CRM

Filters