ITM - Chapter 8 CRM

Why is CRM one of the most valuable assets a company can acquire? A. Since organizations have not been successful in implementing SCM systems, they have turned their resources towards CRM B. CRM has proven to increase customer loyalty and retention and an organization's profitability C. It is easy for a company to steal their competitors loyal and devoted customers, therefore companies need a viable process for targeting competitor's customers D. Without CRM it is impossible to effectively manage or cross-sell products to customers

As the business world increasingly shifts from product focus to customer focus, why are most organizations treating existing customers better than in the past? A. Existing customers are the best source of profitable and sustainable revenue growth B. In the age of e-business, an organization is guaranteed a favorable customer base and satisfying them is easier than ever C. Organizations cannot depend on using statistical analysis or value formulas such as Recency, Frequency, and Monetary to gain insight into customer behavior or buying patterns D. Placing customers at the forefront of all thinking and decision making requires very little operational and technology changes

There are three phases in the evolution of CRM: (1) reporting, (2) analyzing, and (3) predicting. What do CRM predicting technologies help organizations accomplish? A. Make predictions regarding customer behavior such as which customers are at risk of leaving B. Segment their customers into categories such as best and worst customers C. Identify their customers across other applications D. All the above

A contact center (or call center) is where customer service representatives answer customer inquiries and respond to problems through a number of different customer touchpoints. A contact center is one of the best assets a customer driven organization can have. Why? A. Contact centers can identify suppliers who are in desperate need of assistance B. Maintaining a high level of customer support is critical to obtaining and retaining customers C. Contact centers are the only place to find answers to questions or solutions to customer problems D. Most contact centers use analytical modeling technologies that provide business intelligence

Which of the following is not a current CRM trend? A. Partner relationship management B. Supplier relationship management C. Employee relationship management D. Distributor relationship management

Which of the following represents operational CRM? A. Supports traditional transactional processing B. Supports day-to-day front-office operations C. Supports operations that deal directly with the customers D. All of the above

What supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers? A. Analytical CRM B. Operational CRM C. Website Personalization D. All of the above

What can analytical CRM modeling tools discover? A. Identify opportunities for expanding customer relationships B. Identify opportunities for cross-selling C. Identify opportunities for up-selling D. All of the above

What occurs when a website can know enough about a person's likes and dislikes that it can fashion offers that are more likely to appeal to that person? A. Operational CRM B. Analytical CRM C. Website personalization D. All of the above

Which of the following is not one of the three phases in the evolution of CRM? A. Reporting B. Analyzing C. Processing D. Predicting

What are the three CRM phases? A. CRM reporting technologies B. CRM analyzing technologies C. CRM predicting technologies D. all the above

What helps an organization identify its customers across applications asking what happened? A. CRM reporting technologies B. CRM analyzing technologies C. CRM processing technologies D. CRM predicting technologies

What is an organization performing when it asks questions such as "why was customer revenue so high"? A. CRM reporting technologies B. CRM analyzing technologies C. CRM processing technologies D. CRM predicting technologies

What segment helps an organization segment their customers into categories such as worst and best customers, asking why it happened? A. CRM reporting technologies B. CRM analyzing technologies C. CRM processing technologies D. CRM predicting technologies

What helps an organization make predictions regarding customer behaviors as which customers are at risk and asking what will happen? A. CRM reporting technologies B. CRM analyzing technologies C. CRM processing technologies D. CRM predicting technologies

What is an organization performing when it asks questions such as "which customers are at risk of leaving"? A. CRM reporting technologies B. CRM analyzing technologies C. CRM processing technologies D. CRM predicting technologies

Which question below represents a CRM reporting technology example? A. Why did sales not meet forecasts? B. What customers are at risk of leaving? C. What is the total revenue by customer? D. All of the above

Which question below represents a CRM analyzing technology question? A. Why did sales not meet forecasts? B. What customers are at risk of leaving? C. What is the total revenue by customer? D. All of the above

Which question below represents a CRM predicting technology question? A. Why did sales not meet forecasts? B. What customers are at risk of leaving? C. What is the total revenue by customer? D. All of the above

Which of the following operational CRM technologies does the sales department typically use? A. Campaign management, contact management, opportunity management B. Sales management, contact management, contact center C. Sales management, call scripting, opportunity management D. Sales management, contact management, opportunity management

Which of the following operational CRM technologies does the marketing department typically use? A. Contact center, web-based self-service, call scripting B. Contact center, cross-selling and up-selling, web-based self-service C. List generator, opportunity management, cross-selling and up-selling D. List generator, campaign management, cross-selling and up-selling

Which of the following operational CRM technologies does the customer service department typically use? A. Contact center, web-based self-service, call scripting B. Sales management, contact management, opportunity management C. List generator, opportunity management, cross-selling and up-selling D. List generator, campaign management, cross-selling and up-selling

What compiles customer information from a variety of sources and segments the information for different marketing campaigns? A. Campaign management system B. Cross-selling C. Up-selling D. List generator

What guides users through marketing campaigns performing such tasks as campaign definition, planning, scheduling, segmentation, and success analysis? A. Campaign management system B. Cross-selling C. Up-selling D. List generator

What is McDonald's performing when it asks its customers if they would like to super-size their meals? A. Campaign management B. Cross-selling C. Up-selling D. Down-selling

Which of the following represents sales force automation? A. Helping an organization identify its customers across applications B. Selling additional products or services to a customer C. A system that automatically tracks all of the steps in the sales process D. Selling larger products or services to a customer

Which of the following was one of the first CRM components built to address the issues that sales representatives were struggling with the overwhelming amount of customer account information they were required to maintain and track? A. Sales management system B. Contact management system C. Opportunity management system D. Sales force automation system

What automates each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts? A. Sales management CRM systems B. Contact management CRM systems C. Opportunity management CRM systems D. None of the above

What maintains customer contact information and identifies prospective customers for future sales? A. Sales management CRM system B. Contact management CRM system C. Opportunity management CRM system D. Sales force automation CRM system

What targets sales opportunities by finding new customers or companies for future sales? A. Sales management system B. Contact management system C. Opportunity management system D. Sales force automation system

What is the primary difference between contact management and opportunity management? A. Contact management deals with new customers, opportunity management deals with existing customers B. Contact management deals with existing customers, opportunity management deals with existing customers C. Contact management deals with new customers, opportunity management deals with new customers D. Contact management deals with existing customers, opportunity management deals with new customers

Which of the following is where customer service representatives answer customer inquiries and respond to problems through a number of different customer touchpoints? A. Contact center B. Web-based self-service C. Call scripting D. Website personalization

What allows customers to use the web to find answers to their questions or solutions to their problems? A. Contact center B. Web-based self-service C. Call scripting D. Website personalization

What accesses organizational databases that track similar issues or questions and automatically generate the details to the CSR who can then relay them to the customer? A. Contact center B. Web-based self-service C. Call scripting D. Website personalization

Which of the following is not considered a feature in a contact center? A. Automatic call distribution B. Interactive voice response C. Predictive dialing D. Automatic predictive dialing

What is automatic call distribution? A. Automatically dials outbound calls and when someone answers, the call is forwarded to an available agent B. Directs customers to use touch-tone phones or keywords to navigate or provide information C. A phone switch routes inbound calls to available agents D. None of the above

What is interactive voice response (IVR)? A. Automatically dials outbound calls and when someone answers, the call is forwarded to an available agent B. Directs customers to use touch-tone phones or keywords to navigate or provide information C. A phone switch routes inbound calls to available agents D. None of the above

What is predictive dialing? A. Automatically dials outbound calls and when someone answers, the call is forwarded to an available agent B. Directs customers to use touch-tone phones or keywords to navigate or provide information C. A phone switch routes inbound calls to available agents D. None of the above

What focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different projects? A. Supplier relationship management B. Partner relationship management C. Employee relationship management D. None of the above

What discovers optimal sales channels by selecting the right partners and identifying mutual customers? A. Supplier relationship management B. Partner relationship management C. Employee relationship management D. None of the above

What provides Web-based self-service tools that streamline and automate the human resource department? A. Supplier relationship management B. Partner relationship management C. Employee relationship management D. None of the above

Which industries will want to keep using CRM as a major strategic focus in the future? A. Industries whose products are unique B. Industries whose products are difficult to differentiate C. Industries whose products are exclusive D. Industries whose products are distinctive

Which application's primary business benefits include sales forecasts, sales strategies, and marketing campaigns? A. CRM B. SCM C. ERP D. All of the above

Which application's primary business benefits include market demand, resource and capacity constraints, and real-time scheduling? A. CRM B. SCM C. ERP D. All of the above