Question 1

CRM software can help organizations identify high-value customers for preferential treatments.

Accepted Answer

CRM software can analyze customer data and behavior to identify high-value customers who may be more likely to make repeat purchases or refer others to the company. This allows organizations to tailor their marketing and customer service efforts to these valuable customers, improving their overall experience and potentially increasing revenue.

Question 2

Churn rate is an important indicator of the growth or decline of a company's customer base.

Accepted Answer

Churn rate measures the rate at which customers stop doing business with a company. A high churn rate can indicate customer dissatisfaction or market saturation, while a low churn rate suggests customer loyalty and potential for future growth. Therefore, it is an important indicator for a company to evaluate its customer base's growth or decline.

Question 3

Cross-selling is the marketing of complementary products to customers.

Accepted Answer

Cross-selling involves selling related or complementary products to a customer based on their purchase history or needs.

Question 4

What is a PRM module? How does it differ from an ERM module?

Accepted Answer

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Question 5

Enterprise application vendors are now including ________ features,such as tools for data visualization,flexible reporting,and ad-hoc analysis,as part of the application.
A)social media
B)PRM
C)ERM
D)SOA
E)business intelligence

Accepted Answer

The question asks for features such as tools for data visualization, flexible reporting, and ad-hoc analysis, which are all part of business intelligence (BI) software. BI is commonly integrated into enterprise applications to provide users with insights into their data. Therefore, option E, business intelligence, is the best choice.

Question 6

Which of the following is not an example of next-generation enterprise applications?
A)Openbravo
B)Social CRM
C)Apache Open for Business (OFBiz)
D)Salesforce.com
E)JDA Software

Accepted Answer

JDA Software is a supply chain management and retail solutions provider, not typically categorized as a next-generation enterprise application like the others, which focus on modern, cloud-based, or socially integrated solutions.

Question 7

Next-generation enterprise suites use ________ and SOA to link to systems of customers and suppliers.
A)employee relationship management
B)cross-selling
C)just-in-time strategy
D)web services
E)operational CRM

Accepted Answer

Next-generation enterprise suites use web services and SOA (Service Oriented Architecture) to link to systems of customers and suppliers. Web services allow different applications to communicate with each other over the Internet using open standards such as XML, SOAP, and WSDL. SOA is an architectural approach that enables different software components to work together as a seamlessly integrated system, allowing for greater flexibility and agility in responding to changing business needs.

Question 8

Identify five benefits of customer relationship management systems.

Accepted Answer

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Question 9

Enterprise application vendors have created ________ to make their own customer relationship management,supply chain management,and enterprise systems work closely together with each other.
A)e-business suites
B)ERP systems
C)middleware
D)legacy systems
E)cloud solutions

Accepted Answer

The answer of Enterprise application vendors have created ________ to...

Question 10

Analytical CRM uses tools to analyze customer data collected from the firm's customer touch points and from other sources.

Accepted Answer

Analytical CRM uses data analysis tools to examine customer data obtained through various customer touchpoints as well as other sources.

Question 11

Using social networking tools to converse with customers is called:
A)analytical CRM.
B)social CRM.
C)operational CRM.
D)PRM.
E)ERM.

Accepted Answer

Social CRM involves using social networking tools to communicate with customers and build relationships, which is the specific topic mentioned in the question. The other options (analytical CRM, operational CRM, PRM, ERM) do not necessarily involve social networking tools for customer conversations.

Question 12

Which of the following statements about enterprise applications is not true?
A)Enterprise applications require organizational learning.
B)Enterprise applications introduce "switching costs."
C)Enterprise applications are based on organization-wide definitions of data.
D)Enterprise applications require fundamental changes in the way a business operates.
E)Enterprise applications are best implemented when few changes in business processes are required.

Accepted Answer

Enterprise applications often require significant changes in business processes to fully realize their benefits. Resistance to changing established processes is a common obstacle to successful implementation, but modifying processes to align with the application can lead to greater efficiencies and cost savings in the long term. Therefore, the statement "Enterprise applications are best implemented when few changes in business processes are required" is not true.

Question 13

SCM systems require multiple organizations to share information and business processes.

Accepted Answer

SCM systems involve the coordination of multiple organizations in order to optimize the flow of goods and services. This requires the sharing of information and business processes across these organizations.

Question 14

You have been hired by Croydon Visiting Nurse Services,whose business processes are all manual,paper-based processes.How might a CRM system benefit them?

Accepted Answer

The answer of You have been hired by Croydon Visiting...

Question 15

Enterprise applications introduce switching costs.

Accepted Answer

Enterprise applications typically involve significant investments of time, money, and resources to implement and integrate into an organization's existing systems. This creates a barrier for switching to a different solution, as it would require additional investments and potential disruption to the organization's operations.

Question 16

Identify and describe the two types of customer relationship management applications.

Accepted Answer

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Question 17

Enterprise applications are based on organization-wide definitions of data.

Accepted Answer

Enterprise applications are designed to support organization-wide processes and often involve the integration of various business functions. To achieve this, enterprise applications rely on consistent, standardized definitions of data across the organization.

Question 18

What are four questions that a good CRM system can help answer and how do firms use the answers to those questions?

Accepted Answer

The answer of What are four questions that a good...

Question 19

Enterprise systems require fundamental changes in the way the business operates.

Accepted Answer

Enterprise systems are integrated software applications used to manage and coordinate all the resources, information, and functions of a business from shared data stores. Implementing enterprise systems requires companies to re-engineer and integrate their business processes, which often leads to fundamental changes in the way the business operates.

Question 20

What is social CRM and how is it being used?

Accepted Answer

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Quiz 9: Achieving Operational Excellence and Customer Intimacy: Enterprise Applications