3.01 Discuss the nature of customer relationship management

Multiple Choice

Which of the following is no longer a consideration in customers’ buying decisions for many products:

• Store location

• Price

• Quality

• Customer service

Multiple Choice

Our economy has shifted from a service economy to a(n) __________ economy.

• experience

• entertainment

• manufacturing

• agricultural

Multiple Choice

Which of the following types of information does a company need customer input to obtain:

• Dates of store visits

• Suggestions for new products

• Types of products purchased

• Amount of money spent

Multiple Choice

Customer relationship management increases sales and profits by increasing

• prices.

• product quality.

• customer loyalty.

• competition.

Multiple Choice

What component of customer relationship management often “makes or breaks” a business’s program?

• Processes

• People

• Technology

• Strategies

Multiple Choice

When a business evaluates its business processes to make them more efficient and effective, it can improve its relationships with customers. This process is called

• employee training.

• organizational structuring.

• continuous improvement.

• business process management.

Multiple Choice

All the opportunities that businesses have to connect with customers and reinforce their brand value

• word of mouth promotion

• promotions

• customer phone calls

• touchpoints

Multiple Choice

The belief that providing customers with excellent service should be a business's top priority

• customer service

• customer- service mindset

• scope of customers

• customer service policy

Multiple Choice

Which of the following is an example of a customer relationship management initiative:

• A “frequent-shopper” program

• New accounting software

• Expansion of the product-development budget

• A new bonus system for the sales staff

Multiple Choice

A business’s organizational structure can sometimes have a negative effect on customer relationship management because

• the marketing department has the most power.

• CEOs don’t like dealing with customers.

• customers will only deal with one department.

• different departments have different methods.