Question 1

Marketing modules in CRM systems would provide tools for
A)assigning and managing customer service requests.
B)capturing prospect and customer data.
C)identifying profitable and unprofitable customers.
D)managing sales prospect and contact information.
E)increasing efficiency of call centers.

Accepted Answer

The answer of Marketing modules in CRM systems would provide...

Question 2

________ CRM includes customer-facing applications such as tools for sales force automation,call center and customer service support,and marketing automation.
A)Analytical
B)Employee
C)Operational
D)Partner
E)Next-generation

Accepted Answer

Operational CRM focuses on the automation of customer-facing processes such as sales, customer service, and marketing. This type of CRM includes applications such as sales force automation, call center and customer service support, and marketing automation.

Question 3

Customer service modules in CRM systems provide tools for
A)assigning and managing customer service requests.
B)capturing prospect and customer data.
C)identifying profitable and unprofitable customers.
D)managing sales prospect and contact information.
E)organizing effective marketing campaigns.

Accepted Answer

Customer service modules in CRM systems provide tools to assign and manage customer service requests. Capturing prospect and customer data, identifying profitable and unprofitable customers, managing sales prospect and contact information, and organizing effective marketing campaigns are typically features of other modules within a CRM system.

Question 4

Walmart's continuous replenishment system is an example of a ________ model.
A)push-based
B)pull-based
C)enterprise-based
D)supply chain optimization
E)forecast-based

Accepted Answer

Walmart's continuous replenishment system is an example of a pull-based model because the system is triggered by consumer demand at the point of sale, which signals the need for replenishment within the supply chain. This allows for a more efficient and responsive supply chain that is driven by consumer demand rather than predictions or forecasts.

Question 5

Which of the following is not one of the four types of customers described in the case study on Graybar?
A)core customers
B)opportunistic customers
C)marginal customers
D)service-drain customers
E)niche customers

Accepted Answer

The case study on Graybar describes four types of customers: core customers, opportunistic customers, marginal customers, and service-drain customers. Niche customers are not mentioned as one of the types.

Question 6

All CRM packages contain modules for PRM and ERM.

Accepted Answer

Not all CRM packages contain modules for PRM (Partner Relationship Management) and ERM (Employee Relationship Management). Some CRM packages may have additional modules such as marketing automation, sales forecasting, and customer service management.

Question 7

________ modules in CRM systems help sales staff increase their productivity by focusing sales efforts on the most profitable customers,those who are good candidates for sales and services.
A)Customer
B)SOA
C)Marketing
D)Complex
E)SFA

Accepted Answer

SFA (Sales Force Automation) modules in CRM systems help sales staff increase their productivity by automating tasks, managing customer interactions, and providing insights about the most profitable customers and potential candidates for sales and services.

Question 8

Analyzing customer buying patterns is an example of
A)CLTV.
B)analytical CRM.
C)operational CRM.
D)demand planning.
E)cross-selling.

Accepted Answer

Analyzing customer buying patterns is a key function of analytical CRM, which involves analyzing customer data such as purchase history, demographics, and behavior to gain insights and improve marketing strategies. CLTV (customer lifetime value) is a metric used to measure the total value of a customer over their lifetime and is often calculated using data from analytical CRM. Operational CRM focuses on streamlining customer-facing processes such as sales and customer service, while demand planning and cross-selling are related but separate concepts.

Question 9

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

Accepted Answer

Analytical CRM indeed utilizes various tools and techniques to analyze customer data from different sources to gain insights and improve customer relationships.

Question 10

All of the following service capabilities would be found in major CRM products except
A)customer satisfaction management.
B)returns management.
C)call center & help desk.
D)service analytics.
E)order management.

Accepted Answer

Order management is typically part of supply chain management or enterprise resource planning systems, not a core service capability of CRM products.

Question 11

Which metric is based on the relationship between the revenue produced by a specific customer,the expenses incurred in acquiring and servicing that customer,and the expected life of the relationship between the customer and the company?
A)churn rate
B)customer lifetime value
C)cost per lead
D)cost per sale
E)customer average value

Accepted Answer

The metric based on the relationship between the revenue produced by a specific customer, the expenses incurred in acquiring and servicing that customer, and the expected life of the relationship between the customer and the company is customer lifetime value (CLV). CLV is a key metric for understanding the long-term profitability of a company's customer base.

Question 12

Which of the following is an important capability for sales processes that is found in most major CRM software products?
A)returns management
B)lead management
C)channel promotions management
D)events management
E)customer satisfaction management

Accepted Answer

Lead management is an important capability for sales processes that is found in most major CRM software products. It helps to track and manage the leads generated by marketing efforts and convert them into customers. Returns management, channel promotions management, events management, and customer satisfaction management are not necessarily specific to sales processes and may not be found in all CRM software products.

Question 13

Customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance best describes ________ applications.
A)operational CRM
B)analytical CRM
C)operational SCM
D)analytical SFA
E)operational SFA

Accepted Answer

Analytical CRM applications are designed to analyze customer data to provide insights and information for improving business performance. Operational CRM applications, on the other hand, focus on managing customer interactions and transactions, while operational SCM deals with managing the flow of goods and services through the supply chain. Analytical SFA (sales force automation) applications may exist but were not mentioned in the question.

Question 14

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

Accepted Answer

CRM software can track customer behavior, preferences, and purchasing history to identify high-value customers who may be eligible for rewards or special treatment.

Question 15

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

Accepted Answer

Cross-selling involves suggesting and promoting complementary products to customers, with the aim of increasing sales and boosting customer satisfaction.

Question 16

The measurement of the number of customers who stop using or purchasing products or services from a company is called
A)switching costs.
B)churn rate.
C)CLTV.
D)switch rate.
E)turnover percentage.

Accepted Answer

The term for the measurement of the number of customers who stop using or purchasing products or services from a company is churn rate.

Question 17

CRM systems help businesses obtain which business objective?
A)survival
B)operational excellence
C)new products and services
D)improved decision making
E)customer and supplier intimacy

Accepted Answer

CRM systems help businesses build and maintain intimate relationships with their customers and suppliers. They enable businesses to collect and analyze customer data, personalize communication, and respond to customer needs and preferences. This, in turn, can improve customer loyalty, increase sales, and enhance the overall customer experience. Supplier intimacy is also improved by better tracking and managing supplier interactions and collaborations, resulting in more reliable and efficient supply chains.

Question 18

Major CRM application software vendors include Oracle,SAP,and Salesforce.com.

Accepted Answer

These three companies are indeed major players in the CRM application software market.

Question 19

Selling a customer with a checking account a home improvement loan is an example of
A)operational CRM.
B)direct marketing.
C)sales force automation.
D)cross-channel promotions.
E)cross-selling.

Accepted Answer

Cross-selling is the practice of offering additional products or services to existing customers. In this scenario, the bank is offering a home improvement loan to a customer who already has a checking account. The goal is to increase revenue by selling additional products to current customers.

Question 20

Operational CRM applications include tools for
A)identifying buying patterns.
B)calculating CLTV.
C)salesforce automation.
D)pinpointing unprofitable customers.
E)creating segments for targeted marketing.

Accepted Answer

Operational CRM applications focus on automating and improving customer-facing processes such as sales, marketing, and customer service. Salesforce automation is a key component of operational CRM.

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

Marketing modules in CRM systems would provide tools for

________ CRM includes customer-facing applications such as tools for sales force automation,call center and customer service support,and marketing automation.

Customer service modules in CRM systems provide tools for

Walmart's continuous replenishment system is an example of a ________ model.

Which of the following is not one of the four types of customers described in the case study on Graybar?

All CRM packages contain modules for PRM and ERM.

________ modules in CRM systems help sales staff increase their productivity by focusing sales efforts on the most profitable customers,those who are good candidates for sales and services.

Analyzing customer buying patterns is an example of

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

All of the following service capabilities would be found in major CRM products except

Which metric is based on the relationship between the revenue produced by a specific customer,the expenses incurred in acquiring and servicing that customer,and the expected life of the relationship between the customer and the company?

Which of the following is an important capability for sales processes that is found in most major CRM software products?

Customer relationship management applications dealing with the analysis of customer data to provide information for improving business performance best describes ________ applications.

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

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

The measurement of the number of customers who stop using or purchasing products or services from a company is called

CRM systems help businesses obtain which business objective?

Major CRM application software vendors include Oracle,SAP,and Salesforce.com.

Selling a customer with a checking account a home improvement loan is an example of

Operational CRM applications include tools for