CRM and Technology Quiz

What is the purpose of CRM?

• To create value for the customer and the company over the longer term

• To increase costs and reduce customer satisfaction

• To focus on short-term profits

• To ignore customer needs

What does CRM involve?

• Organizations must be customer focused and adapt to customer needs

• Market research is not necessary for CRM

• Organizations must be prepared to ignore customer needs

• Organizations must become less customer focused

Why is CRM important for businesses today?

• To compete with multi-product offerings

• To reduce costs and customer satisfaction

• To focus on short-term relationships with customers

• To ignore customer needs and satisfaction

What are the markers of strategically significant customers in CRM?

• Customers with high life-time values

• Customers with low life-time values

• Customers who do not inspire change in the supplier

• Customers who do not serve as benchmarks for other customers

What is the definition of CRM?

• CRM is concerned with the creation, development, and enhancement of individualized customer relationships

• CRM is only focused on short-term customer value

• CRM is not concerned with customer relationships

• CRM is not important for businesses

What are the benefits of CRM?

• Reduced opportunities and poor operational processes

• Reduced access to market and competitor information

• Reduced costs and increased customer satisfaction

• Increased costs and reduced customer satisfaction

What is the focus of CRM?

• Internal growth in numbers of customers

• Ignoring customer needs

• Reducing customer satisfaction

• External growth in numbers of customers

What is the adoption of CRM being fueled by?

• Recognition that short-term relationships with customers are important

• Recognition that customer satisfaction is not important

• Recognition that long-term relationships with customers are important

• Recognition that customer relationships are not important

What is the purpose of building relationships with strategically significant customers?

• To lose time, staff, and financial resources

• To reduce customer satisfaction

• To gain time, staff, and financial resources

• To maximize opportunities and access to market information