CRM Test IMBA 1

Customer Relationship Management (CRM) primarily aims to:

• Improve manufacturing efficiency

• Enhance customer service relationships and retention

• Lower product prices

• Increase product variety

Which of the following is a primary benefit of CRM for a business?

• Lowering production costs

• Increasing customer satisfaction and loyalty

• Eliminating sales personnel

• Focusing only on existing customers

What strategy does ICICI Bank employ to improve customer service through CRM?

• Generic marketing campaigns

• Collecting and analyzing customer data for personalization

• Ignoring transaction history

• Standardizing all customer interactions

In CRM, customer acquisition is focused on:

• Converting prospects into long-term customers

• Reducing product prices

• Limiting interactions with potential customers

• Avoiding digital marketing

Netflix's customer acquisition strategy includes:

• Promoting the same content to all audiences

• Using data analytics to tailor advertisements to specific demographics

• Ignoring customer viewing history

• Offering free subscriptions without conditions

Which of the following is a component of effective customer acquisition?

• Standardizing all communications

• Customer onboarding and tailored engagement

• Ignoring customer feedback

• Randomized messaging strategies

Zomato's CRM strategy focuses on:

• Standardized discounts for all customers

• Using customer data to create targeted offers and discounts

• Ignoring order history and preferences

• Providing only in-store promotions

According to Bain & Company, effective CRM usage can reduce Customer Acquisition Cost (CAC) by:

• 5-10%

• 15-20%

• 25-30%

• 50%

Customer loyalty programs, such as Sephora's Beauty Insider, aim to:

• Reduce customer feedback

• Encourage repeat purchases through rewards

• Limit product availability

• Avoid customer data collection

Tata Sky's CRM strategy to enhance customer loyalty includes:

• A program where customers earn points for specific interactions

• Avoiding personalized communication

• Offering the same promotions to all customers

• Ignoring customer data in marketing