Unit 3 Business Management I

One action that an ethical business can take to help build the long-term trust and loyalty of its customers is to:

• send daily opt-in e-mail messages to customers.

• implement a comprehensive customer privacy policy.

• sell its customer list to third parties without permission.

• maintain detailed information about customers’ transactions.

Kemper Corporation continually updates the firewalls on its website to protect its customers’ personal information from theft. Kemper’s actions help build trust with its customers in relation to:

• online security.

• physical safety.

• calculation errors.

• product tampering.

In the modern business world, a growing number of interactions between businesses and customers are taking place:

• in stores.

• on the phone.

• through the mail.

• over the Internet.

Which statement is true about customer relationship management (CRM)?

• A business has implemented a CRM program if it is providing good customer service.

• A primary goal of CRM is to maximize the long-term value of customer relationships.

• Price is the most important factor in building a long-term buyer-seller relationship.

• Organizational culture has little effect on a customer’s experiences with a business.

Which type of customer relationship management software would be most appropriate for a company that is looking for a more efficient way to track leads, prospects, and customers?

• personalization technology

• matching engine technology

• campaign prediction software

• sales force automation technology

After a sales call, Carlos inputted a summary of the discussion in the company’s customer relationship management system. What aspect of customer relationship management is he using?

• automated

• Collaborative

• Developing

• Operational

An important aspect of using technology in customer relationship management involves:

• providing customers with product information.

• posting customer information on the business’s website.

• updating customer information in the computer database.

• allowing employees to have complete access to customer information.

The MSB Company provides its customers with critical or time-sensitive product information by sending them alerts or messages through their cellular phones. What form of technology is MSB using as an element of customer relationship management?

• dial-up

• wireless

• traditional

• global positioning

What is a benefit of using analytical customer relationship management (CRM) software?

• It can lead to discounts for the customer.

• It aids management in developing financial forecasts.

• It allows management to communicate with clients through various channels.

• It prevents customers from having to repeat themselves when they have multiple interactions with the company.

Salespeople who are well informed about the brands, sizes, and styles of goods that their business offers can easily answer which customer question?

• "What time does the business open?"

• "What is the business’s return policy?"

• "What type of credit does the business offer?"

• "What type of merchandise does the business carry?"