CRM CH2-Conceptual of CRM

What is the objective of understanding customer relationship lifecycle?

• To improve product quality

• To understand customer behavior

• To increase sales revenue

• To enhance customer satisfaction

In the customer relationship life cycle, what stage involves building a good relationship with leads and creating trust?

• Conversion

• Acquisition

• Awareness

• Retention

What are some reasons why customers may leave a business?

• New technology or product innovation of competitors

• Friendly staff

• Effective processes

• High product prices

How can a company ensure long-term customer retention?

• By increasing prices

• By providing excellent customer service

• By reducing product quality

• By ignoring customer feedback

What is the focus of the buyer's viewpoint of customer relationships?

• Psychological consequences

• Relationship judgment

• Corporate input

• Output quality

What is the impact of seller's strategies and instruments on customers?

• Reduce customer retention

• Decrease customer satisfaction

• Lead to profit contribution

• Increase customer complaints

In the context of the text, what is the purpose of Customer Value Analysis?

• To increase advertising costs

• To retain high potential value customers

• To reduce customer satisfaction

• To ignore customer feedback

What is the main factor that influences a buyer's relationship quality perception?

• Customer satisfaction

• Commitment

• Word of mouth

• Perceived value

What is the company's external factor that impacts seller's relationships with customers?

• Corporate output

• Company input

• Company output

• Implementation

In the given scenario, what recommendations would you give to the company to retain its customers?

• Reduce product quality

• Ignore customer complaints

• Provide better service

• Increase prices