Question 1

____________ is most likely not considered a customer touchpoint.

Accepted Answer

A)   Point-of-sale systems
B)   Follow-up calls
C)   Records from direct selling
D)   Customer complaints to call centers
E)   Managerial assessment of customer loyaltyF) None of the above
G) B) and D)

Question 2

CRM has passed through the "new idea" stage of marketing to the __________ stage.

Accepted Answer

A)   Mission critical
B)   Fad
C)   Business as usual
D)   Implementation
E)   DeclineF) A) and D)
G) A) and E)

Question 3

What are the four elements in the CRM process cycle?

Accepted Answer

(1)knowledge discovery, (2)mar...

Question 4

Companies that use CRM are most likely to practice _______________.

Accepted Answer

A)   Mass marketing, given the economics of scale created by CRM
B)   Consumer marketing, due to being able to identify like-minded audiences
C)   Shotgun marketing, given the ability to reach large numbers of people
D)   Customer marketing, due to trying to establish one-to-one relationships
E)   Holistic marketing, to reach many different audiencesF) B) and E)
G) C) and E)

Question 5

To use CRM, companies are ____________.

Accepted Answer

A)   Redesigning the internal structures
B)   Renegotiating contracts with suppliers to cut price
C)   Focusing on internal and external relationships
D)   A and C
E)   All of the aboveF) C) and E)
G) B) and D)

Question 6

Why is the concept of the lifetime value of a customer important?

Accepted Answer

Investment in CRM yields more successful...

Question 7

Greg and Mark, CRM consultants, have been hired by Devon to guide her company through the CRM implementation process.All employees are on cross-functional teams to focus transforming the firm into a relationship-based enterprise.One team meeting is designed to focus on three important categories that revolve around _______________________.

Accepted Answer

A)   Customers, suppliers, prospects
B)   Customers, the relationship, and managerial decision making
C)   Customer relationships, marketing, and product offering
D)   Customer, managers, and suppliers
E)   Customer relationships, employee relationships, and managerial relationshipsF) All of the above
G) C) and E)

Question 8

CRM essentially is computer software.

Accepted Answer

A) True 
 B)False

Question 9

Pedigree Puppy Club is a CRM program in the UK that has captured ______ of the puppy market.

Accepted Answer

A)   25%
B)   40%
C)   50%
D)   75%
E)   80%F) A) and E)
G) C) and D)

Question 10

Customer loyalty is defined as ______________.

Accepted Answer

A)   Repeat purchases
B)   The degree to which an individual will resist switching from one offering to another
C)   The level of liking an individual harbors for an offering
D)   Customer laziness in trying new products
E)   The likelihood that a customer become a buzz marketerF) B) and C)
G) A) and B)

Question 11

Define customer loyalty.

Accepted Answer

Customer loyalty means the deg...

Question 12

A key element that makes CRM possible is the degree to which a customer trusts the firm with his or her information.

Accepted Answer

A) True 
 B)False

Question 13

The main focus of CRM is on ____________.

Accepted Answer

A)   Internal processes
B)   Efficiency
C)   Marketing metrics
D)   Profitability though customer focus
E)   Gross revenueF) A) and C)
G) B) and C)

Question 14

Miguel has eight traditional Cuban restaurants in South Florida and he wants to track his customers by building a database.He would do this in the ___________ element of the process cycle.

Accepted Answer

A)   Data mining
B)   Knowledge discovery
C)   Marketing planning
D)   Customer interaction
E)   Analysis and refinementF) B) and D)
G) B) and C)

Question 15

What is database marketing and in which stage of the CRM process cycle is it used?

Accepted Answer

The knowledge discovery phase of the CRM...

Question 16

Fred Reichheld, a customer loyalty expert, has demonstrated that _______.

Accepted Answer

A)   Investment in CRM yields more powerful long-term relationships
B)   Long-term customers are more demanding and expect higher levels of service than new customers
C)   Loyalty and profitability are not always linked
D)   Loyal customers are significant contributors to revenue growth, profitability, and referrals
E)   A and DF) A) and E)
G) B) and D)

Question 17

What are the four things a firm must do in order use touchpoints successfully?

Accepted Answer

To maximize a firm's ability to successf...

Question 18

The assets of Chick-fil-A include all except ________________.

Accepted Answer

A)   Cows
B)   Food
C)   People
D)   Influence
E)   PricingF) C) and D)
G) A) and B)

Question 19

Customer satisfaction is defined as ________________.

Accepted Answer

A)   The degree to which an individual will resist switching from one offering to another
B)   The level of liking an individual harbors for an offering
C)   Customer laziness in trying new products
D)   The likelihood that a customer become a buzz marketer
E)   The number of purchases in a defined period of timeF) None of the above
G) A) and E)

Question 20

USAA customers and employees have face-to-face interaction that leads to high levels of satisfaction.

Accepted Answer

A) True 
 B)False

Exam 4: Perspectives on Customer Relationship Management

Why is the concept of the lifetime value of a customer important?

Correct Answer
verified
Investment in CRM yields more successful...
View Answer

____________ is most likely not considered a customer touchpoint.

Correct Answer
verified

The assets of Chick-fil-A include all except ________________.

Correct Answer
verified

CRM has passed through the "new idea" stage of marketing to the __________ stage.

Correct Answer
verified

Customer satisfaction is defined as ________________.

Correct Answer
verified

USAA customers and employees have face-to-face interaction that leads to high levels of satisfaction.

Correct Answer
verified

What are the four things a firm must do in order use touchpoints successfully?

Correct Answer
verified
To maximize a firm's ability to successf...
View Answer

What are the four elements in the CRM process cycle?

Correct Answer
verified
(1)knowledge discovery, (2)mar...
View Answer

Fred Reichheld, a customer loyalty expert, has demonstrated that _______.

Correct Answer
verified

Define customer loyalty.

Correct Answer
verified
Customer loyalty means the deg...
View Answer

Customer loyalty is defined as ______________.

Correct Answer
verified

What is database marketing and in which stage of the CRM process cycle is it used?

Correct Answer
verified
The knowledge discovery phase of the CRM...
View Answer

To use CRM, companies are ____________.

Correct Answer
verified

The main focus of CRM is on ____________.

Correct Answer
verified

A key element that makes CRM possible is the degree to which a customer trusts the firm with his or her information.

Correct Answer
verified

Miguel has eight traditional Cuban restaurants in South Florida and he wants to track his customers by building a database.He would do this in the ___________ element of the process cycle.

Correct Answer
verified

CRM essentially is computer software.

Correct Answer
verified

Companies that use CRM are most likely to practice _______________.

Correct Answer
verified

Pedigree Puppy Club is a CRM program in the UK that has captured ______ of the puppy market.

Correct Answer
verified

Correct Answer
verified

Exam 4: Perspectives on Customer Relationship Management

Why is the concept of the lifetime value of a customer important?

Correct AnswerverifiedInvestment in CRM yields more successful...View AnswerShow Answer

____________ is most likely not considered a customer touchpoint.

Correct AnswerverifiedShow Answer

The assets of Chick-fil-A include all except ________________.

Correct AnswerverifiedShow Answer

CRM has passed through the "new idea" stage of marketing to the __________ stage.

Correct AnswerverifiedShow Answer

Customer satisfaction is defined as ________________.

Correct AnswerverifiedShow Answer

USAA customers and employees have face-to-face interaction that leads to high levels of satisfaction.

Correct AnswerverifiedShow Answer

What are the four things a firm must do in order use touchpoints successfully?

Correct AnswerverifiedTo maximize a firm's ability to successf...View AnswerShow Answer

What are the four elements in the CRM process cycle?

Correct Answerverified(1)knowledge discovery, (2)mar...View AnswerShow Answer

Fred Reichheld, a customer loyalty expert, has demonstrated that _______.

Correct AnswerverifiedShow Answer

Define customer loyalty.

Correct AnswerverifiedCustomer loyalty means the deg...View AnswerShow Answer

Customer loyalty is defined as ______________.

Correct AnswerverifiedShow Answer

What is database marketing and in which stage of the CRM process cycle is it used?

Correct AnswerverifiedThe knowledge discovery phase of the CRM...View AnswerShow Answer

To use CRM, companies are ____________.

Correct AnswerverifiedShow Answer

The main focus of CRM is on ____________.

Correct AnswerverifiedShow Answer

A key element that makes CRM possible is the degree to which a customer trusts the firm with his or her information.

Correct AnswerverifiedShow Answer

Miguel has eight traditional Cuban restaurants in South Florida and he wants to track his customers by building a database.He would do this in the ___________ element of the process cycle.

Correct AnswerverifiedShow Answer

CRM essentially is computer software.

Correct AnswerverifiedShow Answer

Companies that use CRM are most likely to practice _______________.

Correct AnswerverifiedShow Answer

Pedigree Puppy Club is a CRM program in the UK that has captured ______ of the puppy market.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified
Investment in CRM yields more successful...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
To maximize a firm's ability to successf...
View Answer

Correct Answer
verified
(1)knowledge discovery, (2)mar...
View Answer

Correct Answer
verified

Correct Answer
verified
Customer loyalty means the deg...
View Answer

Correct Answer
verified

Correct Answer
verified
The knowledge discovery phase of the CRM...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified