Question 1

Which of the following is a customer-touching CRM application?

Accepted Answer

FAQ (Frequently Asked Questions) is a customer-touching CRM application as it directly interacts with customers by providing them with answers to common questions.

Question 2

StellaService entered into a partnership with ___________ to give companies a double "mark of approval" in the eyes of customers.

Accepted Answer

StellaService partnered with Google to provide companies with a double "mark of approval" by integrating StellaService's customer service ratings into Google's seller ratings.

Question 3

The purpose of loyalty programs is to ____________.

Accepted Answer

Loyalty programs are designed to influence future behavior by offering incentives or rewards to customers for their repeat purchases or loyalty to a brand. These programs aim to encourage customers to continue doing business with the company and build a long-term relationship, leading to increased profits for the company. While loyalty programs may indirectly decrease the threat of substitute products or increase buyer power, their primary goal is to influence future behavior and reward past behavior.

Question 4

Amazon's basic CRM strategy has always focused on __________.

Accepted Answer

The answer of Amazon's basic CRM strategy has always focused...

Question 5

______________________ is the percentage of customers that will be lost over time.

Accepted Answer

Customer churn refers to the percentage of customers who stop doing business with a company over a period of time. It is an important metric for businesses to track as it can provide insights into customer satisfaction, switching behavior, and overall business performance.

Question 6

_____________________ offers a 360-degree view of customers.

Accepted Answer

The answer of _____________________ offers a 360-degree view of customers.
...

Question 7

Amazon's CRM systems described in the IT's About Business case are ________.

Accepted Answer

The case states that Amazon's CRM systems are operational and customer-touching, meaning they directly interact with customers during the purchasing process. The case does not mention any analytical CRM systems used by Amazon.

Question 8

__________ is an important technology in analytical CRM systems.

Accepted Answer

OLAP (Online Analytical Processing) is a technology used for processing and analyzing data from multiple sources to provide an overview of the data. It is an important technology in analytical CRM systems as it allows businesses to gain insights into customer behavior and trends. OLTP (Online Transaction Processing) is another technology used for processing transactions in real-time, but it is not as relevant in analytical CRM systems. Auto-responses and customer service/support are important in overall CRM systems, but not specifically in analytical CRM systems.

Question 9

Customer relationship has become _____________ personal with the rapid growth of the Internet and the World Wide Web.

Accepted Answer

The answer of Customer relationship has become _____________ personal with...

Question 10

___________________ track all contacts that have been made with a customer, the purpose of each contact, and any follow-up that might be necessary.

Accepted Answer

Contact management systems are specifically designed to track all interactions with customers, including the purpose of each contact and any necessary follow-up. Configurators help with product customization, sales forecasting systems predict sales performance, and sales lead tracking systems focus on identifying potential customers.

Question 11

Online feedback typically captures roughly ___ percent of customer interactions.

Accepted Answer

Online feedback typically captures roughly 5 percent of customer interactions, as most customers do not leave feedback after their interactions.

Question 12

CRM helps address which of Porter's Five Forces?

Accepted Answer

CRM (Customer Relationship Management) helps address Buyer power, which is one of Porter's Five Forces. By improving customer satisfaction and loyalty, CRM can reduce the bargaining power of buyers and increase a company's competitiveness.

Question 13

CRM is most essential for ____________ businesses.

Accepted Answer

CRM is essential for all types of businesses regardless of their size. It helps in maintaining proper customer relations, tracking customer behavior, and ensuring customer satisfaction. However, larger businesses may benefit more from CRM due to their large-scale operations and customer base. Small and medium businesses can also benefit from CRM as it helps in understanding customer needs and increasing customer loyalty.

Question 14

StellaService's business is ___________.

Accepted Answer

StellaService's business is primarily B2B (Business-to-Business), as they provide customer service and experience metrics to other companies to help them improve their own customer service.

Question 15

For Organic and Beyond Corporation, ____ operations were more complex than _____ operations because of the number of orders.

Accepted Answer

B2C (Business to Consumer) operations are typically more complex than B2B (Business to Business) operations due to the higher volume of individual orders and the need to manage a larger customer base.

Question 16

You decide it's finally time to get a new TV. You go to Best Buy to check out your options. One of the Best Buy sales representatives points out that the largest TV they have also has the most amazing picture quality. Even though you didn't want a TV that big, you decide it's worth it for the better picture quality. The sales representative's technique is called ______________________.

Accepted Answer

The sales representative is using up-selling technique by convincing the customer to buy a bigger TV with better picture quality even though it was not their original intention.

Question 17

____________________ is a customer-focused and customer-driven organizational strategy.

Accepted Answer

CRM (Customer Relationship Management) is a strategy that focuses on developing and maintaining long-lasting relationships with customers. It emphasizes understanding customer needs and preferences, providing excellent customer service, and tailoring products and services to meet individual customer needs. CRM is a customer-driven approach to business that helps organizations build customer loyalty and retention, increase customer satisfaction, and drive revenue growth. ERP (Enterprise Resource Planning), FAIS (Financial Accounting Information System), and SCM (Supply Chain Management) are other organizational strategies that may be customer-focused to some extent, but they do not have the same level of customer-centricity as CRM.

Question 18

The "Amazon Effect" has NOT impacted ___________.

Accepted Answer

Dell primarily sells computers and servers directly to businesses, which puts it in a different market segment from Amazon's consumer-focused retail business. Therefore, the "Amazon Effect" has not impacted Dell as significantly as it has impacted other retailers that directly compete with Amazon's core business. The other choices, BestBuy, RadioShack, and Staples, all sell consumer electronics or office supplies that are in direct competition with Amazon, and have all faced significant challenges due to the "Amazon Effect".

Question 19

Which of the following is NOT a benefit of Organic and Beyond Corporation's CRM system?

Accepted Answer

Reduced sales is not a benefit of Organic and Beyond Corporation's CRM system. The other three options, meeting demand, operating costs, and tracking sales performance, are all benefits of a CRM system.

Question 20

Which of the following is a customer-facing CRM application?

Accepted Answer

The answer of Which of the following is a customer-facing...

Quiz 11: Customer Relationship Management and Supply Chain Management