Deck 8: Business-To-Business CRM

Question 1

The way to sustain relationships with current customers is to create a passionate customer-centric environment where everyone in the organization, excluding the value delivery network partners has a "buy-in" to this approach.

Answer 1

False

Question 2

Strong customer relationships are built on trust. However trust cannot be mandated but instead must be built over time.

Answer 2

True

Question 3

Relative to a CRM or PRM strategy, technology is not the solution but only a support function.

Answer 3

True

Question 4

Contracts and relationships are complementary.

Question 5

Relational contracting focuses on a short-term durable exchange particular to relationship marketing management

Question 6

A major reason that buyers use electronic marketplaces or exchanges is to consolidate resources which hopefully would lead to cost reductions.

Question 7

Market orientation and relationship marketing are two distinct marketing strategies which overlap.

Question 8

The difference between how customers think about suppliers and how suppliers think about themselves has been identified as the "market orientation" gap.

Question 9

It is often said "companies do not compete, value chains compete".

Question 10

The sales function is still the most critical component of any B2B CRM strategy.

Question 11

A salesperson's aversion to technology adoption is an SFA perceived benefit.

Question 12

A key reason why a sales person would be reluctant to adopt SFA would be the risk of losing ownership of the customer relationship.

Question 13

Quicker and more inclusive assessment of current and potential increase in overall customer equity is a perceived benefit of SFA.

Question 14

An SFA system is perceived by some to include a Knowledge Management component.

Question 15

Research has shown that less experienced sales representatives benefited four times more than the average for the more experienced, high performance sale representatives.

Question 16

Research by Ahearne, Srinvasan and Weinstein produced results, which imply that while there is a positive payoff to SFA use in CRM initiatives, the enabling effect tapers off, and the relationship between technology usage and performance is curvilinear.

Question 17

SaaS solutions require large initial investments, which is why many organizations are hesitant to adopt these types of solutions.

Question 18

While competitor tracking is not unique to CRM, it should be considered as a viable option and used to monitor the competition's CRM efforts as well as industry trend.

Question 19

PRM attempts to optimize relationships with value delivery network partners as part of the overall CRM strategy.

Question 20

Return on investment, share of wallet, lifetime value and related measurement formulas can be updated automatically with response data by using a campaign management tool.

Question 21

On-demand PRM is becoming less of a requirement due, in part, to demand from mobile devices and system applications

Question 22

Before selecting a PRM solution provider, an organization should decide if it wants to use a solution, which is implemented within their organization environment and subsequently across their channel members, or if a SaaS method is the optimal solution.

Question 23

A VAR may act as a liaison between the manufacturer and the VAR's customer for initial training purposes and ongoing maintenance, including version updates.

Question 24

Before selecting a PRM solution provider, an organization should decide if it wants to use a solution which is implemented within their organization environment and subsequently across their channel members, or if a SaaS method is the optimal solution.

Question 25

An example of Cloud-based Portal would be the ability of having any update made to an Apple iPhone automatically sent to an Apple-supported server elsewhere, such as an iPad.

Question 26

_______ is/are usually not the same for B2B and B2C CRM environments.

A)Data integration steps
B)Utilization of data warehouses
C)General database construction
D)Data variables
E)Data preparation

Question 27

In contrast to a B2C environment, B2B environments usually include all of the following EXCEPT

A)Clear set of documented expectations in B2B
B)Less fragmented customers and prospects
C)More formal relationships
D)Longer sales cycle
E)Lower investments due to lower number of customers

Question 28

According to Seshardi and Mishra, contracts provide an evolving governance structure and incompleteness arises due to costs associated with contracting in the presence of difficulties in all of the following EXCEPT

A)anticipation of contingencies and situations
B)devising and agreeing to courses of action
C)strategic partnership
D)writing of explicit causes and contingent clauses
E)monitoring and enforcement

Question 29

All of the following usually hold true for Internet-based B2B exchanges EXCEPT

A)tend to move organizations to focus more on price than relationships
B)connect buyers and sellers
C)are not very cost effective which is why they are seldom used
D)can create efficiencies
E)used to consolidate resources

Question 30

Market orientation strategies focus on ________.

A)mutually profitable relationship management
B)long-term strategic implications
C)activities related to delivering to the customer
D)social identity research
E)closing the gap between orientation and relationship marketing strategy

Question 31

R. Deshpande and J.U. Farley used _________ to frame hypotheses about market orientation and inter-organizational relationships as viewed simultaneously from the point of view of suppliers and customers. .

A)market orientation methods
B)exchanges
C)relationship marketing tactics
D)disintermediation
E)social identity theory

Question 32

R. Deshpande and J.U. Farley found the marketing orientation gap between suppliers and customers to be _________ between highly collectivist cultures than in individualist cultures.

A)the same
B)smaller
C)slightly bigger
D)largely bigger
E)not relative

Question 33

Within the last decade, value delivery network activity has precipitated the formulation of a/an_______________ by nature of recycling by-products of the various processes.

A)reverse value delivery network
B)trend to long term contract obligations
C)increased focused on relationship marketing
D)environmental friendly marketing strategy
E)new type of storage facilities

Question 34

A paint manufacturer who decides to bypass selling paint to retailers and instead sells it directly to consumers is practicing _________.

A)poor relationship marketing
B)smart business
C)PRM
D)disintermediation
E)creative channel development

Question 35

Key questions that need to be answered when implementing and maintaining a cohesive CRM strategy across the value delivery network (VDN) include all of the following EXCEPT

A)Who owns the customer?
B)What are the software requirements of each VDN member?
C)Who owns what information?
D)Are there conflicts of interest?
E)Who will manage campaign management?

Question 36

___________ has/have been a key CRM enabler adopted by organizations wishng to automate the B2B acquisition process.

A)Read/write operational data stores
B)Dashboards
C)RFID
D)Sales force automation
E)Cloud technology

Question 37

Key reasons for why a salesperson would resist adopting an SFA solution include al of the following EXCEPT

A)technology aversion
B)SFA does not contain relevant information
C)comfort level with their own methods
D)long learning curve
E)risk of losing ownership of the customer relationship

Question 38

___ is not a perceived SFA benefit.

A)Long learning curve
B)Reduction in support costs
C)Ability to integrate information across strategic partners
D)Quicker identification of customer issues
E)Ease of detecting relationship-building trends

Question 39

_____ solutions provide for an accurate, expedient, and cost effective way to provide knowledge to the person who needs it from theperson who is perceived as the expert.

A)SFA
B)PRM
C)KM
D)Lead Management
E)CTI

Question 40

Research performed on the concept of knowledge benefit from SFA systems by D-G. Ko and A.R. Dennis found that SFA system use was directly related to ___________.

A)behavior change
B)cost reduction
C)increased customer calls
D)reduced customer attrition
E)salesperson performance

Question 41

Research conducted on a major consumer packaged goods company by G.K. Hunter and W.D. Perreault Jr. found that the total effect of sales technology orientation on __________.

A)internal role performance was negligible
B)performance with customers was not applicable
C)internal role performance was greater than that on performance with customers
D)performance with customers was greater that that on internal role performance
E)internal role performance was not applicable

Question 42

Some of the basic considerations that must be thought about when looking for an SFA solution incled all of the following EXCEPT.

A)Type of industry
B)Number of users, current and future
C)Potential integration with CRM and PRM
D)Modular capability
E)Mobile device access and synchroniztion

Question 43

Research by Ahearne, Srinvasan and Weinstein on saleperson usage of a SFA system over a three month period found that an SFA system usage rate of ____ hits on the system by a salesperson over this three month period was ideal.

A)488
B)283
C)125
D)771
E)92

Question 44

_________ analyze, score and route potential customers to the appropriate sales personnel.

A)Order Management systems
B)Lead Management systems
C)Customer Contact Centers
D)Contract Management solutions
E)Activity Management solutions

Question 45

_____allow you to design and automate virtually any process, including product or service configurations, customer service, scripts for telesales, sales methods, quotes , sales and contract processes.

A)Workflow Automation tools
B)SFA solutions
C)Channel Management systems
D)Contract Management systems
E)Pipeline Management systems

Question 46

____ provide an organization with the capability to recruit VDN partners.

A)CRM tools
B)PRM methodologies
C)Lead Management solutions
D)Channel Management tools
E)Campaign Management tools

Question 47

Gartner has found that organizations investing in on-demand PRM benefit from more than a _____ increase in capturing new deals through registration processes and more than a ____ increase in visibility of leads managed by partners.

A)25%, 40%
B)20%, 10%
C)35%, 40%
D)25%, 50%
E)18%, 42%

Question 48

_____ take an existing product or service from another organization, add value to the product or service, and then resell that newly formed product or service.

A)Channel partners
B)Affiliate Partners
C)OEMs
D)PRM enablers
E)VARs

Question 49

_____ are created around the needs of the customer.

A)OEMs
B)Core selling teams
C)affiliate partners
D)advertising companies
E)VARs

Question 50

When evaluating levels of trust between a salesperson and the customer versus the manufacturer and the customer, Kennedy, Ferrell and LeClair found that he primary influences of customer satisfaction were, in order of importance:

A)product quality, caring, competence, low-pressure selling tactics
B)caring, Product quality, competence, low-pressure selling tactics
C)product quality, low-pressure selling tactics, competence, caring
D)low pressure selling tactics, competence, caring, product quality
E)privacy issues, privacy issues, privacy issues