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Business Management 1 - Unit 3.01 CRM Flashcards | StudBud
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Business Management 1 - Unit 3.01 CRM
Business Management 1 - Unit 3.01 CRM
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Answers
1
Which of the following is an example of a customer relationship management initiative:
A new bonus system for the sales staff
New accounting software
Expansion of the product-development budget
A “frequent-shopper” program
2
evaluating a business processes to make it more efficient and effective to improve its relationships with customers is.
organizational structuring.
continuous improvement.
employee training.
business process management.
3
A business’s organizational structure can sometimes have a negative effect on customer relationship management because
customers will only deal with one department.
CEOs don’t like dealing with customers.
the marketing department has the most power.
different departments have different methods.
4
A main goal of customer experience management is creating
innovative technology
word-of-mouth promotion
new products
high employee salaries
5
Many people make the mistake of thinking that customer relationship management refers solely to
people
processes
technology
strategies
6
Having clear customer relationship management goals before putting a program into place helps businesses to avoid
having unsatisfied customers
spending any money.
having to lay off employees
purchasing irrelevant technology
7
Which of the following types of information does a company need customer input to obtain?
amount of money spent
dates of store visits
type of products purchased
suggestions for new products
8
Customer relationship management increases sales and profits by increasing
customer loyalty
product quality
prices
competition
9
When a business communicates customer-centric values and ideals to its employees on a consistent basis, it is developing
its technology.
its corporate culture.
its trademarks.
its organizational structure.
10
Which of the following is no longer a consideration in customers’ buying decisions for many products
Customer service
Price
Quality
Store location
11
The main difference between customer relationship management and customer experience management is that CRM focuses on
product development.
investors
the business itself.
customers
12
In the modern business world, a growing number of interactions between businesses and customers are taking place
online.
in stores.
through the mail.
over the phone.
13
In the past, customer relationship management was used mainly as a way to
help employees perform more efficiently.
assist business decision making
increase customer loyalty.
track customer information.
14
Which of the following is a common customer relationship management practice?
training employees
creating a marketing budget
managing sales staff
developing new products
15
What component of customer relationship management often “makes or breaks” a business’s program?
Processes
Strategies
Technology
People
16
Customer relationship management can help a business to identify its
most valuable customers
financial strengths and weaknesses
most talented employees
best-selling products
17
A bus. improves its technology so it can better meet customer wants and needs This results from a bus. activity known as
business process management
amplified improvement
employee training.
organizational structuring
18
Our economy has shifted from a service economy to a(n) __________ economy.
experience
agricultural
manufacturing
entertainment
19
Customers tend to look at a business as a whole despite the number of __________ they experience
feedback surveys
complaints
purchases
touchpoints
20
Which of the following is a benefit of customer relationship management:
The opportunity to create targeted marketing campaigns
A decrease in customer advocacy
A work force that does not commit errors
The ability to double the business's profits