Business Management I (3.01) 2019 LAP

Many people make the mistake of thinking that customer relationship management refers solely to

• technology.

• strategies.

• processes.

• people.

Which of the following is an example of a customer relationship management initiative:

• A “frequent-shopper” program

• New accounting software

• Expansion of the product-development budget

• A new bonus system for the sales staff

In the past, customer relationship management was used mainly as a way to

• increase customer loyalty.

• assist business decision making.

• track customer information.

• help employees perform more efficiently.

Customers tend to look at a business as a whole despite the number of __________ they experience.

• complaints

• feedback surveys

• touch points

• purchases

In the modern business world, a growing number of interactions between businesses and customers are taking place

• over the phone.

• online.

• in stores.

• through the mail.

Which of the following is no longer a consideration in customers’ buying decisions for many products:

• Store location

• Price

• Quality

• Customer service

Our economy has shifted from a service economy to a(n) __________ economy.

• experience

• entertainment

• manufacturing

• agricultural

A main goal of customer experience management is creating

• innovative technology.

• higher employee salaries.

• new products.

• word-of-mouth promotion.

The main difference between customer relationship management and customer experience management is that CRM focuses on

• the business itself.

• customers.

• product development.

• investors.

Having clear customer relationship management goals before putting a program into place helps businesses to avoid

• having unsatisfied customers.

• having to lay off employees.

• purchasing irrelevant technology.

• spending any money.