Business School 101: CRM Quiz

What is the primary goal of Customer Relationship Management (CRM)?

• To enhance supply chain efficiency

• To improve customer service and loyalty

• To increase product variety

• To reduce employee turnover

Which of the following is a key component of CRM that involves organizing customer data?

• Product development

• Customer data management

• Financial analysis

• Sales forecasting

How does CRM automation benefit sales and marketing teams?

• By eliminating customer feedback

• By automating routine tasks

• By reducing product prices

• By increasing employee salaries

In the example of Green Tech Solutions, what is one way CRM helps with customer interactions?

• By hiring more staff

• By centralizing customer data

• By providing free products

• By reducing marketing efforts

What is a benefit of CRM in terms of marketing effectiveness?

• It reduces the need for marketing

• It allows for highly targeted campaigns

• It limits customer reach

• It increases the cost of marketing

How does CRM improve team collaboration?

• By ensuring all teams work with the same data

• By providing separate data for each team

• By isolating departments

• By reducing communication between teams

What role does CRM play in decision-making?

• It eliminates the need for decisions

• It provides real-time insights for better decisions

• It only supports financial decisions

• It complicates decision-making

What is a key benefit of CRM in terms of customer service?

• It limits customer interactions

• It provides a 360° view for personalized service

• It reduces the need for customer service

• It increases service response time

Which of the following is a challenge businesses might face when implementing CRM?

• Reduced market share

• Decreased customer satisfaction

• Increased product defects

• Cost and complexity

What is a potential issue with data management in CRM systems?

• Data management is irrelevant

• Data is always outdated

• Inaccurate data can lead to poor insights

• Data is never collected