CRM Review

Term
1 / 60
Customer Relationship Mgmt is about:
a) acquiring the right customer
b) instituting the best processes
c) motaivating employees
d) all the above
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Terms in this set (60)
Customer Relationship Mgmt is about:
a) acquiring the right customer
b) instituting the best processes
c) motaivating employees
d) all the above
d
CRM technology can help in
a) designing direct marketing efforts
b) developing new pricing models
c) processing transactions faster
d) all of the above
d
A ______ is an organized collection of detailed information about individual customers or prospects that is accessible, actionable, & current for marketing purposes such as lead generation & others
a) customer database
b) customer mailing list
c) business database
d) none of the above
a
_____ uses sophisticated mathematical & statistical techniques such as natural networking and cluster analysis
a) data mining
b) data survey
c) CRM
d) none of the above
a
The main drawback of CRM is
a) implementing CRM before creating a customer strategy
b) roping out CRM before changing the organization to match
c) stalking, not wooing, customers
d) all of the above
d
The marketing messages committed to customer wishes is a part of
a) permission marketing
b) activity marketing
c) supplier marketing
d) none of the above
a
The method used to assess real cost of providing services to an individual customer is
a) cost based accounting
b) activity based accounting
c) turnover based accounting
d) price based accounting
b
________ is any occasion on which the brand or product is used by end customers
a) customer touch point
b) retailers touch point
c) company touch point
d) none of the above
a
________ is the study of how individuals, groups and organization select, buy, use and dispose of goods, services, ideas or experiences to satisfy their needs and wants
a) consumer behavior
b) product cycle
c) purchase behavior
d) none of the above
a
A consumer buying behavior is influenced by
a) cultural and social factors
b) personal factors
c) both a & b
d) none of the above
c
_______ exerts the broadest and deepest influence on buying behavior a) social factors b) international factors c) personal factors d) cultural factorsd______ is the fundamental determinant of a persons wants and behavior a) culture b) attitude c) value d) none of the aboveaIndian marketers use a term called socioeconomic classification, which is based on the _________ of chief wage earner. a) education b) occupation c) both a & b d) none of the abovecSocioeconomic system classifies urban households into _______ broad categories a) 4 b) 8 c) 6 d) none of the abovebFor the rural areas, the socioeconomic systems use ______ of the chief wage earner a) occupation and type of home b) education & occupation c) education and type of home d) none of the aboveaa persons _______ are all the groups that have a direct or indirect influence on their attitudes or behaviors a) inspirational groups b) reference groups c) dissociate groups d) none of the abovebSocial class is indicated by ______ variables a) single b) several c) none d) none of the abovebProcess of manage information about customers to maximize loyalty is said to be a) company relationship management b) supplier management c) retailer management d) customer relationship managementdSocioeconomic system classifies rural households into ____ broad categores a) 8 b) 6 c) 4 d) none of the abovecIn buyer decision process, percentage of potential customers in a given target market is called a) customer funnel b) company funnel c) marketing funnel d) retailers funnecAggregate value of customer base is classified as a) shareholder value b) base value c) retention value d) marketers base valueaRecord which is based on business customers past purchase, sales price and volumes is classified as a) business database b) customer database c) database marketing d) company marketingaWhole cluster of benefits when company promises to deliver through its market offering is called a) value proposition b) customer proposition c) product proposition d) brand propositionaThird step in customer value analysis a) assessing attributes importance b) assessing company performance c) monitoring competitors performance d) both b & cdAll costs customer expects to incur to buy any market offering is called a) total economic cost b) total functional cost c) total customer cost d) total functional costcPercentage of number of customers who move from one level to nest level in buying decision process is called a) conversion rates b) marketing rates c) shopping rates d) loyalty ratesaCustomized products and services for customers and interactions to individual customer are part of a) retailers management b) customer relationship management c) company relationship management d) supplier managementbCompanys customer relationship capital is another name fo a) satisfied customers b) dissatisfied customers c) customer retention d) customer conversionaCompany's monetary, time and energy cost, all are included in a) total customer cost b) psychological cost c) personal benefits d) image benefitsaA person or company that yields a revenue more than incurred cost of selling and serving is called a) dissatisfaction b) superior value c) profitable customer d) satisfied customerccustomer lifetime purchases that generate net present value of future profit streams is called a) customer lifetime value b) customer purchase value c) customer cost incurred d) customer relationshipatotal customer benefits include a) product benefits b) services benefits c) image benfits d) all of abovedprograms designed for customer which is limited to any affinity group are classified as a) club membership programs b) royalty programs c) loyalty programs d) group membership programsaFirst step in analysis of customer value is to a) identify customer values attributes b) assessing attributes importance c) assessing company performance d) assessing competitors performanceaDifference between customer evaluation including all costs incurred and benefits is called: a) customer perceived value b) company market value c) customer affordability d) customer reliabilityaProcess of building, organizing and using databases of customers to build customer relationship is classified as a) database marketing b) customer database c) detailed database d) company databaseaPerceived monetary value of all benefits which customers expect from a given product b/c of brand image is called a) total customer benefit b) total customer cost c) total economic cost d) total functional costaSystem includes all experiences while using market offering is classified as a) customer proposition b) value delivery system c) product proposition d) distinctive propositionbNumber of customers or potential customers who will help in companies growth is classified as a) customer base b) retailer base c) distributor base d) marketers baseaany occasion on which brand or product is encountered by end customers is called a) customer touch point b) company touch point c) retailer touch point d) relationship touch pointaTechnique which tries to identify real cost of serving an individual customer is called a) activity based accounting b) cost base accounting c) price based accounting d) turnover based accountingaPorcess of manage information about customers to maximize loyalty is said to be a) company relationship management b) supplier management c) retailer mangement d) customer relationship managementdIn buyer decision process, percentage of potential customers in a given target market is called a) customer funnel b) company funnel c) marketing funnel d) retailer funnelcAggregate value of customer base is classified as a) shareholder value b) base value c) retention value d) marketers base valueaRecord which is based on business customers past purchases, sales price and volumes is classified as a) business database b) customer database C) database marketing d) company marketingaWhole cluster of benefits when company promises to deliver through its market offering is called a) value proposition b) customer proposition c) product proposition d) brand propositionaThis is an approach to selling goods and services in which a prospect explicitly agrees in a dance to receive marketing information a) customer managed relationship b) data mining c) permission marketing d) one-to-one marketingcIn an internet context, this is the practice of tailoring web pages to individual users characteristic or preferences a) web services b) customer - facing c) client/server d) personalizationdThis is the processing of data about customer and their relationship with the enterprise in order to improve the enterprises furture sales and services and lower costs a) clickstream analysis b) database marketing c) customer relationship management d) CRM analysisdThis is abroad category of applications and technologies for gathering, storing, analyzing, a nd providing access to data to help enterprise users make better business decisions a) best practice b) data mart c) business information warehouse d) business intelligencedCustomers lifetime purchases that generate net present value of future profit streams is called a) customer lifetime value b) customer purchase value c) customer cost incurred d) customer relationshipaTotal customer benefits include. a) product benefits b) services benefit c) image benefits d) all of abovedPrograms designed for customers which is limited to any affinity group are classified as a) club membership programs b) royalty programs c) loyalty programs d) group membership programsaFirst step in analysis of customer value is to a) identify customers value attributes b) assessing attributes importance c) assessing company performance d) assessing competitors performanceaDifference between customers evaluation including all costs incurred and benefits is called a) customer perceived value b) company market value c) customer affordability d) customer reliabilityaProcess of building, organizing and using databases of customers to build customer relationship is classified as a) database marketing b) customer database c) detailed database d) company databaseaPerceived monetary value of all benefits which customer expect from a given product because of brand image is called a) total customer benefit b) total customer cost c) total economic cost d) total functional costaSystem includes all experiences while using market offering is classified as a) customer proposition b) value delivery system c) product proposition d) distinctive propositionbNumber of customer or potential customers who will help in company's growth is classified as a) customer base b) retailer base c) distributors base d) marketers baseaAny occasion on which brand or product is encountered by end customer is called a) customer touch point b) company touch c) retailers touch point d) relationship touch pointa