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WorksheetsCRM REVIEW QUIZ - MIDTERM
Total questions: 30
Worksheet time: 30mins
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
Which of the following is not a type of defection?
Communication
Technological
Service
Organizational
Which of the following is not a strategy used to prevent defection?
diversify the product line
address key churn driver
increase switching costs
analyze customer defection
the components of IDIC model are:
Identify, Differentiate, Interact, Customize
Identify, Dependable, Interact, Communicate
Identify, Differentiate, Interact, Communicate
Identify, Dependable, Interact, Customize
This CRM model assist blue chip businesses in managing customers.
IDIC
Value chain
Quality competitiveness index
Forrester
This is the fuel of the Fourth Industrial Revolution.
Business
Money
Data
Coins
This is the next step in CRM process once you’ve successfully introduced your brand to the market
Generating Brand Awareness
Converting Leads to Customers
Drive upsells
Acquiring Leads
The is the core of any marketing database and an invaluable asset for any firm.
Customer databases
Prospect databases
Cluster databases
Enhancement databases
This customer value are the result of a program initiated and incentivized by the company.
CLV
CIV
CRV
CKV
The objective of these projects is to build an infrastructure that meets the technical and functional requirements of CRM.
Operational CRM projects
Analytical CRM projects
Application projects
Strategic CRM Projects
It is the perception of what a product or service is worth to a customer versus the possible alternatives.
Customer Value
Customer Concept
Customer Data
Customer Analysis
This CRM model built with a strong theoretical principles and practical requirements of the business.
Value chain
IDIC
Quality competitiveness index
Forrester
Which choice is part of establishing a customer retention program?
Examine who the customers are and their specific needs
Begin work without identifying specific objectives to be accomplished by the program.
Create the most complicated program possible
Create a culture that does not stimulate customer interest.
If marketers raise customer expectations too high, the buyer is likely to be disappointed. However, if the company sets expectations too low, it ___
will not attract more buyers
will raise the value proposition
will create customer loyalty
will lower total customer cost
Which of the following does NOT indicate a need to improve customer service (to improve your customer retention program)?
Customer satisfaction is your primary management objective
The company has employee turnover problems
The company does not care about lost customers
The company is not consistent about keeping its promises to customers
Touch Points are the exact moment the firm can (a) gather and disseminate information
(a) cost is the one-fifth to one-third of total CRM cost
(a) projects are also called Data Analytics
Once the elements of CRM are identified it is important to calculate the
(a)
The customer (a) is the conduct of all marketing activities with the belief that the individual customer is the central unit of analysis and action
The Fifth generation of CRM is also known as (a) CRM.
