Question 1

Safeguarding customer information is a legal and ethical responsibility for any company collecting,processing,and transmitting sensitive customer data.

Accepted Answer

Safeguarding customer information is indeed a legal and ethical responsibility for any company that handles sensitive customer data. This responsibility is outlined in various regulations and laws such as GDPR, HIPAA, and PCI DSS. Failure to uphold these regulations can result in legal and financial consequences for the company.

Question 2

Customers of companies,using CRM applications,should not be concerned with their personal information becoming compromised or being shared with other companies.​

Accepted Answer

CRM applications store vast amounts of personal information, and without proper security measures and adherence to privacy laws, there is a risk of data breaches or unauthorized sharing, which can compromise customer privacy.

Question 3

While a company's Internet presence may be desirable for finding information or conducting product transfers,touching products and talking face-to-face with company representatives remains an integral part of the supplier-customer interface.​

Accepted Answer

While online interactions with a company can be convenient, physical interactions with products and company representatives are still important for many customers.

Question 4

Companies that provide on-demand applications are often referred to as data warehouses.​

Accepted Answer

Companies that provide on-demand applications are typically referred to as software-as-a-service (SaaS) providers or cloud computing companies, not data warehouses. Data warehouses are more focused on storing and managing large amounts of data for analytics and business intelligence purposes.

Question 5

According to the text,poor planning is typically the cause for most unsuccessful CRM initiatives.​

Accepted Answer

The text suggests that poor planning is the typical cause for most unsuccessful CRM initiatives.

Question 6

Cloud computing is a term used to describe how a customer navigates a website.​

Accepted Answer

Cloud computing refers to the use of remote servers to store, manage, and process data, rather than on a local server or personal computer. It is not related to how a customer navigates a website.

Question 7

According to the text,customer relationship management refers to building and maintaining profitable long-term customer relationships.​

Accepted Answer

The text states that customer relationship management refers to building and maintaining profitable long-term customer relationships.

Question 8

The objectives of any CRM initiative should be focused on what the company can reasonable achieve.​

Accepted Answer

The answer of The objectives of any CRM initiative should...

Question 9

When web sites suggest other items for purchase based on already purchased items,this is an example of Clickstream Selling.​

Accepted Answer

This is an example of cross-selling or recommendation systems, not Clickstream Selling. Clickstream Selling involves analyzing the sequence of clicks a user makes on a website to understand user behavior or preferences.

Question 10

Sales force automation products help salespeople better manage their accounts,their business opportunities,and communications while away from the office.​

Accepted Answer

Sales force automation products are designed to improve the productivity and efficiency of sales teams by providing them with tools to manage their accounts, business opportunities, and communications while on the go. Examples of sales force automation products include customer relationship management (CRM) software, mobile apps, and other digital tools. These products help salespeople stay organized, track their progress, and communicate effectively with prospects and clients, contributing overall to an increase in sales productivity and revenue.

Question 11

The three inputs for calculating Customer Lifetime Value are Average Annual Sales,Expected Lifetime and Forecasted Sales.​

Accepted Answer

The three main inputs for calculating Customer Lifetime Value (CLV) are Average Purchase Value, Purchase Frequency, and Customer Lifespan. Forecasted Sales can be part of the calculation in some models, but it's not one of the primary three inputs universally recognized.

Question 12

Up until now CRM has been very effective for most companies because it has focused on building customers' trust and loyalty,ultimately building a strong relationship with the customer through programs that make it easy for the customer to return products and get information from people inside the organization.​

Accepted Answer

The answer of Up until now CRM has been very...

Question 13

As customers navigate through a website CRM software can record and analyze the customer's clickstream so website images and ads can be tailored to the needs and desires of that individual customer.​

Accepted Answer

CRM software can track a customer's clickstream and use that information to personalize website content for the individual customer.

Question 14

Training managers and users in the key customer contact areas can help the firm decide what customizations to the CRM applications are required.​

Accepted Answer

Training managers and users in key customer contact areas provides valuable feedback that can help the firm decide which customizations to make to CRM applications. This can lead to improved customer satisfaction and better overall performance for the business.

Question 15

Through the use permission marketing programs,customers are allowed to select the type of communications companies can make with them.Actually,customers can even choose to be completly eliminated from both e-mail and traditional mailing lists.​

Accepted Answer

Permission marketing programs allow customers to choose the type of communications they receive and opt-out of mailing lists.

Question 16

While a well-planned and organized CRM plan can be extremely useful in developing effective and efficient marketing programs for retailers,they are not particularly helpful for manufacturing companies like GM since their touches with the customer are few.​

Accepted Answer

CRM can be useful for manufacturing companies like GM to manage their interactions with suppliers, distributors, and dealers, as well as to collect data and insights on customer preferences and behaviors. However, their touches with the end customer may be limited, so the CRM plan may need to be tailored accordingly.

Question 17

Only employees who will enter CRM data should be involved in the CRM implementation plan.​

Accepted Answer

While employees who will enter CRM data should be involved in the CRM implementation plan, it is important to involve all relevant stakeholders in the planning process, including IT staff, management, and end-users, in order to ensure a successful and effective implementation.

Question 18

Private clouds allow corporate users to internally manage their data centers.​

Accepted Answer

Private clouds are designed to be managed internally by the organization or company that owns them. Therefore, this statement is true.

Question 19

Segmenting customers on the basis of things like products purchased,sales history,demographic information,and desired product features can dilute the results of a CRM program; segmenting customers should be avoided.​

Accepted Answer

Segmenting customers on the basis of various factors can actually enhance the effectiveness of a CRM program by allowing for personalized communication and targeted marketing efforts.

Question 20

In general,companies avoid social media sites since they rarely are able to find useful information about customer opinions via blogs and social networking sites.​

Accepted Answer

This statement is false. Companies do actively use social media sites to gather customer feedback and opinions. In fact, social media has become a valuable tool for companies to engage with customers, improve brand image, and gather insights about their opinions and preferences.

Quiz 10: Customer Relationship Management

Safeguarding customer information is a legal and ethical responsibility for any company collecting,processing,and transmitting sensitive customer data.

Customers of companies,using CRM applications,should not be concerned with their personal information becoming compromised or being shared with other companies.​

While a company's Internet presence may be desirable for finding information or conducting product transfers,touching products and talking face-to-face with company representatives remains an integral part of the supplier-customer interface.​

Companies that provide on-demand applications are often referred to as data warehouses.​

According to the text,poor planning is typically the cause for most unsuccessful CRM initiatives.​

Cloud computing is a term used to describe how a customer navigates a website.​

According to the text,customer relationship management refers to building and maintaining profitable long-term customer relationships.​

The objectives of any CRM initiative should be focused on what the company can reasonable achieve.​

When web sites suggest other items for purchase based on already purchased items,this is an example of Clickstream Selling.​

Sales force automation products help salespeople better manage their accounts,their business opportunities,and communications while away from the office.​

The three inputs for calculating Customer Lifetime Value are Average Annual Sales,Expected Lifetime and Forecasted Sales.​

As customers navigate through a website CRM software can record and analyze the customer's clickstream so website images and ads can be tailored to the needs and desires of that individual customer.​

Training managers and users in the key customer contact areas can help the firm decide what customizations to the CRM applications are required.​

Through the use permission marketing programs,customers are allowed to select the type of communications companies can make with them.Actually,customers can even choose to be completly eliminated from both e-mail and traditional mailing lists.​

While a well-planned and organized CRM plan can be extremely useful in developing effective and efficient marketing programs for retailers,they are not particularly helpful for manufacturing companies like GM since their touches with the customer are few.​

Only employees who will enter CRM data should be involved in the CRM implementation plan.​

Private clouds allow corporate users to internally manage their data centers.​

Segmenting customers on the basis of things like products purchased,sales history,demographic information,and desired product features can dilute the results of a CRM program; segmenting customers should be avoided.​

In general,companies avoid social media sites since they rarely are able to find useful information about customer opinions via blogs and social networking sites.​

Customers of companies,using CRM applications,should not be concerned with their personal information becoming compromised or being shared with other companies.

While a company's Internet presence may be desirable for finding information or conducting product transfers,touching products and talking face-to-face with company representatives remains an integral part of the supplier-customer interface.

Companies that provide on-demand applications are often referred to as data warehouses.

According to the text,poor planning is typically the cause for most unsuccessful CRM initiatives.

Cloud computing is a term used to describe how a customer navigates a website.

According to the text,customer relationship management refers to building and maintaining profitable long-term customer relationships.

The objectives of any CRM initiative should be focused on what the company can reasonable achieve.

When web sites suggest other items for purchase based on already purchased items,this is an example of Clickstream Selling.

Sales force automation products help salespeople better manage their accounts,their business opportunities,and communications while away from the office.

The three inputs for calculating Customer Lifetime Value are Average Annual Sales,Expected Lifetime and Forecasted Sales.

As customers navigate through a website CRM software can record and analyze the customer's clickstream so website images and ads can be tailored to the needs and desires of that individual customer.

Training managers and users in the key customer contact areas can help the firm decide what customizations to the CRM applications are required.

Through the use permission marketing programs,customers are allowed to select the type of communications companies can make with them.Actually,customers can even choose to be completly eliminated from both e-mail and traditional mailing lists.

While a well-planned and organized CRM plan can be extremely useful in developing effective and efficient marketing programs for retailers,they are not particularly helpful for manufacturing companies like GM since their touches with the customer are few.

Only employees who will enter CRM data should be involved in the CRM implementation plan.

Private clouds allow corporate users to internally manage their data centers.

Segmenting customers on the basis of things like products purchased,sales history,demographic information,and desired product features can dilute the results of a CRM program; segmenting customers should be avoided.

In general,companies avoid social media sites since they rarely are able to find useful information about customer opinions via blogs and social networking sites.