Marketing Chapter 3 Lesson 1

A customer relationship management (CRM) system is a technology system for managing all company interactions with current and potential:

• customers

• pipelines

• products

• analytics

Which stage of the sales pipeline is where a company identifies potential customers?

• qualification

• prospecting

• nuturing

• retention

Which stage of the sales pipeline is where a company determines if a customer has potential or need to purchase?

• qualification

• closure

• nuturing

• retention

During which stage of the sales pipeline does the bulk of selling occur and product demos and/or free trials are offered?

• prospecting

• closure

• nuturing

• retention

Which stage of the sales pipeline is when a company converts the potential customer into an official sale?

• qualification

• closure

• prospecting

• retention

Which stage of the sales pipeline is when a company works to continue its relationship with its customers, keep and maintain repeat customers, and to reduce churn.

• qualification

• prospecting

• nuturing

• retention

The electronic storage of large amounts of company information is:

• sales data

• finance data

• data warehouse

• data mining

The process of finding patterns and anomalies (irregularities) in data to predict outcomes is:

• customer retention

• account management

• data warehouse

• data mining

Which term refers to the actions a company takes to keep, and maintain repeat customers?

• customer retention

• quote management

• sales force automation

• agent performance tracking

Potential customers are also referred to as:

• analytics

• leads

• data

• segmentation