Deck 14: The Future of CRM

Question 1

Implementing customer relationship marketing strategy ranks as one of the top 5 corporate objectives in _____ of enterprises worldwide.

A) 30%
B) 40%
C) 50%
D) 60%
E) 70%

Answer 1

A

Question 2

Advancing technology has made possible better ________segmentation and enhanced targeting of customer communication and promotion, while providing better data retrieval than ever before.

A) Consumer
B) Marketing
C) Direct marketing
D) Customer
E) Initial

Answer 2

B

Question 3

If CRM offers such great potential, why are companies failing? What is the number one cause of failure?

A) The systems are too expensive.
B) The systems require extensive IT support.
C) The systems are too time consuming.
D) The systems are too difficult to work with.
E) Senior management does not support the systems.

Answer 3

D

Question 4

What percentage of billion dollar companies report using Customer Relationship Management?

A) 20%
B) 30%
C) 40%
D) 50%
E) 60%

Question 5

The future of CRM is dependent on all but one of the following:

A) Simpler systems
B) Time to learn systems
C) The opportunity to become proficient at CRM
D) More customer support of CRM
E) All the above are reasons for future success.

Question 6

The need to consider alternative territory management models is also undersignificant scrutiny as sales management struggles with _________________ sales recruiting environment and the evolution of its sales force.

A) A less competitive
B) A more competitive
C) An average
D) A relatively static
E) None of the above is a correct way to complete this statement.

Question 7

____ million baby boomers are approaching retirement with ____ million Gen Xers ready to take their place.

A) 30 and 60
B) 70 and 30
C) 50 and 50
D) 80 and 40
E) 40 and 40

Question 8

If baby boomers retire from sales positions without getting involved with CRM, what will be lost?

A) Important customer contact information
B) Specific customer business process data
C) Valuable pipeline considerations
D) Buyer relationship information
E) All of the above apply.

Question 9

Sales departments are having a _________ with sales _______ requiring _________ models to be evaluated.

A) difficult time/coverage/territory coverage
B) no problem/plans/ no new national
C) difficult time/ coverage/ national account
D) a challenging time/ planning/ new national planning
E) None of the above apply.

Question 10

A new generation of software has been developed to evaluate sales forceperformance. This software will help sales managers with the all but one of thefollowing tasks:

A) KPIs
B) Sales coaching
C) Sales training
D) Human resource reviews
E) This new software assists all of the above.

Question 11

Keys to campaign management performance improvement are:

A) Improving program graphics
B) Process tracking
C) Expeditious return of participation data
D) Revision of target lists
E) All of the above apply.

Question 12

When industries consolidate, which of the following is not true?

A) Customers gain leverage
B) Volumes for particular accounts increase
C) Products become commodities
D) Promotion management becomes more difficult
E) None of the above answers are true

Question 13

The problem with CRM forecasting is the result of

A) Lack of input from sales representatives
B) Limitations of the mathematical methods used in interpreting data
C) Improper use of metrics
D) Irregular evaluation cycles
E) All of the above apply.

Question 14

New methodology will provide forecasting accuracy improvements within CRM that will allow forecast accuracy rates approximately ____percent of the time versus the current rate of ____percent.

A) 50 - 50
B) 90 - 10
C) 80 - 60
D) 70 - 30
E) None of the above applies.

Question 15

For CRM to be more effective in the future, which of the following is not true?

A) Technology must improve.
B) Organizational structure changes will be required.
C) Marketing will have to refocus spending.
D) New sales structure will be necessary.
E) All of the above will be required to ensure proper customer service.

Question 16

Which of the following entities within organizations is likely to become moreimportant in the future?

A) Accounting
B) Finance
C) Corporate Planning
D) Customer Service
E) None of the above is likely to become more important.

Question 17

In the market-share war between on-demand and server-based CRM platforms, the real question for organizations to ask themselves is

A) Which system approach will succeed?
B) Which system approach is less costly long term?
C) Which system is most appropriate for your needs?
D) Which system has inherent flaws?
E) None of the above is an appropriate question.

Question 18

Which of the following is not a benefit of sever -based CRM systems?

A) Customization
B) Full functionality
C) Control of data
D) Low cost
E) All are benefits of server based CRM.

Question 19

Which of the following is not a benefit of on-demand CRM applications?

A) Connectivity
B) Simplicity
C) Little or no IT involvement
D) Data control
E) None of the above

Question 20

In the future, CRM will be expected to directly make a significant contribution in all but one of the following:

A) More precise targeting
B) Superior forecasting
C) Employee productivity
D) Organizational structure
E) Financial staffing decisions

Question 21

In the future CRM system usage will increase for all but one of the following reasons:

A) Easier systems
B) Improved functionality
C) Understanding system benefit
D) System speed
E) All of the above are reasons.

Question 22

The current market for on-demand CRM is

A) Small-office, home-office customers
B) Small companies with sales volume under $100,000,000
C) Medium-sized companies between $100 and $900,000,000,
D) Enterprises 100,000,000,000 plus
E) Answers B and C.

Question 23

The current market for server-based CRM is focused on

A) Small companies with sales volume under $100,000,000
B) Medium-sized companies between $100 and $900,000,000
C) Enterprises 100,000,000,000 plus
D) Answers B and C
E) Answers A and B

Question 24

In the market share war between the on-demand and server-based systems, how much sales volume is at stake?

A) Thousands
B) Hundreds of thousands
C) Millions
D) Hundreds of millions
E) Billions

Question 25

The authors believe that the use of CRM from a managerial and diagnosticperspective will improve significantly in the future. As a result the following is likely to occur:

A) Companies will understand their businesses better and use CRM more effectively.
B) CRM will become personally valuable to sales and marketing professionals.
C) CRM will add significant value in building customer relationships.
D) A new generation of business professional will realize the potential for business improvement through CRM.
E) All of the above are expected to become true.

Question 26

According to industry experts implementing customer relationship marketing strategyranks as one of the top 5 corporate objectives in 60% of enterprises worldwide.

Question 27

At this time, the majority of U.S. companies are still foundering with CRM.

Question 28

CRM's value to employees and in particular salespeople will only be recognized when the value of inputting data into CRM systems becomes personally rewarding.

Question 29

According to industry experts, businesses are only successful in predicting customer purchase behavior 90% of the time, justifying the investment in having a CRM system.

Question 30

The future of CRM technology promises no significant improvement in CRMfunctionality due to the volatility of technology platforms.

Question 31

Sales force composition is expected to remain relatively stable for the foreseeable future.

Question 32

Alternative territory management formats are being explored because of relatively high salesperson turnover.

Question 33

Companies with CRM systems are currently confused regarding new needs foraccount management within sales organizations.

Question 34

Using the CRM system's planning tools, managers can review results with their direct reports and create unique plans for each salesperson's progress.

Question 35

Simplicity or ease of use is the most beneficial feature of on-demand CRM systems.

Question 36

Server-based CRM systems offer customization and functionality as their most beneficial features.

Question 37

Over 60 % of implementing a server-based CRM system may not be the systems price.

Question 38

Data security is a benefit of server-based CRM applications versus on-demand models.

Question 39

Current server-based CRM providers are investing in the development of on-demand CRM systems.

Question 40

In order to compete with server-based applications, for enterprise applications additional functionality will have to be added to current on-demand CRM systems.

Question 41

How is advancing technology affecting CRM?

Question 42

Why are alternative territory management models being explored?

Question 43

What are KPIs?

Question 44

What value does "Sales Force Optimizer" provide to sales managers?

Question 45

What will higher CRM system usage rates mean for salespeople?

Question 46

What impact will Radio Frequency Identification (RFID) tagging and improvedhousehold coding have on marketing's ability to learn more about B2B and B2Cmarketing programs?

Question 47

Technical improvements in CRM will be matched by what technical advancement in what other area to improve company performance?

Question 48

Which organizational groups in a corporation are thought of as gold mines for future sales professionals?

Question 49

Please list three providers of on-demand CRM systems.

Question 50

Please list three providers of server-based CRM systems.

Question 51

Why are the majority of U.S. companies still foundering with CRM?

Question 52

In order to be successful in the future how does corporate culture have to change?