CRM REVIEW QUIZ - MIDTERM

The first step in the CRM Process

• Generating Brand Awareness

• Acquiring Leads

• Converting Leads to Customers

• Drive upsells

Which of the following is not an element of CRM?

• Sales Force Automation

• Relationship strategy

• Campaign Management

• none of the above

Which of the following is not the steps of CRM Process?

• Customization

• Acquisition

• Customer Interaction Management

• Customer Retention

This refers to activity that selling organization undertakes in order to reduce customer defection.

• Customer Retention

• Acquisition

• Advocacy

• Customization

RBC wants to understand what value propositions make sense to which customers. When the bank discovered that it sometimes makes sense to tell a customer her or she is not using the right service, even if that services generates less revenue in the short term, it was acting on a

• Customer lifetime value

• Competitive advantage

• Customer profitability

• Return on quality

It is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

• Customer perceived value

• Value proposition

• customer cost

• Value delivery system

Companies can build interest and enthusiasm by using databases to remember customer preferences. This strategy helps to

• deepen customer loyalty

• Identify prospects

• Reactivate dormant customers

• avoid serious customer mistakes

Customer churn refers to

• Customer defection

• Customer anxiety

• customer loyalty

• customer value

If a company increases customer satisfaction by lowering its price or increasing its services, the result may be

• lower profits

• customer defection

• unsatisfied experience

• loyalty programs

Which of the following is an example of customer retention program?

• Customization

• Community building

• Frequency/loyalty programs

• all of the above