Customer Relationship Management Review for Test on 2-3

A business uses customer information wisely to build trust by:

• ensuring data privacy and security.

• sharing customer data with third parties.

• ignoring customer feedback.

• using customer data for unsolicited marketing.

Which of the following is an ethical dilemma that can arise when it comes to loyalty?

• Confidentiality vs. honesty

• Profit vs. sustainability

• Efficiency vs. quality

• Innovation vs. tradition

A business has an ethical obligation to treat all of its customers exactly the same.

• True

• False

Which of the following issues might arise when it comes to loyalty and customer relationship management?

• Data privacy concerns

• Increased customer satisfaction

• Improved brand loyalty

• Higher sales revenue

Trust is important in customer relationships because:

• it ensures customer loyalty and repeat business.

• it allows for more flexible pricing strategies.

• it reduces the need for customer feedback.

• it eliminates the need for marketing efforts.

What do customers expect from businesses to be able to trust them?

• Transparency and honesty

• High prices

• Limited customer support

• Complex terms and conditions

How might businesses encounter loyalty issues related to customer relationship management?

• By failing to personalize customer interactions

• By offering too many loyalty programs

• By focusing too much on customer feedback

• By ignoring competitor strategies

Which principle is essential for businesses when creating privacy policies?

• Transparency

• Profit Maximization

• Market Expansion

• Cost Reduction

Which of the following is an ethical issue involved with big data?

• Privacy concerns

• Increased efficiency

• Cost reduction

• Faster data processing

What ethical issues are involved with selling or sharing customer data?

• Privacy concerns

• Increased sales

• Better customer service

• Lower costs