Chapter 1 Flashcards
What does CRM stand for?
Customer Relationship Management
True or False: CRM systems are only used by sales teams.
False
Fill in the blank: The primary goal of CRM is to improve __________.
customer relationships
Which of the following is NOT a benefit of CRM? A) Improved customer service B) Increased data security C) Enhanced sales forecasting D) Reduced operational costs
B) Increased data security
What type of software is typically used in CRM systems?
Database software
List two key features of a CRM system.
Contact management and sales tracking
True or False: CRM systems can help automate marketing tasks.
True
What is one common type of data stored in a CRM system?
Customer contact information
Short answer: How can CRM systems help improve customer retention?
By providing personalized communication and support.
What is the difference between operational CRM and analytical CRM?
Operational CRM focuses on automating and improving customer-facing processes, while analytical CRM focuses on analyzing customer data for insights.
What does CRM stand for?
Customer Relationship Management
True or False: Strategic CRM focuses solely on technology.
False
Fill in the blank: Strategic CRM aims to improve _____ with customers.
relationships
What is a primary goal of strategic CRM?
To enhance customer satisfaction and loyalty
Multiple Choice: Which of the following is NOT a component of strategic CRM? A) Customer data analysis B) Transaction processing C) Customer engagement strategies D) Feedback management
B) Transaction processing
What type of data is crucial for effective strategic CRM?
Customer data, including preferences, behaviors, and feedback
True or False: Strategic CRM can help in predicting customer needs.
True
What role does technology play in strategic CRM?
It facilitates data collection, analysis, and customer interactions.
Fill in the blank: Strategic CRM involves aligning business strategies with _____ strategies.
customer
Multiple Choice: Which of the following is a benefit of strategic CRM? A) Increased operational costs B) Improved customer retention C) Reduced customer engagement D) Limited data access
B) Improved customer retention
What is customer segmentation in the context of strategic CRM?
The process of dividing customers into groups based on shared characteristics.
True or False: Strategic CRM is only applicable to large enterprises.
False
What is a customer journey map?
A visual representation of the steps customers take when interacting with a company.
Fill in the blank: Strategic CRM helps organizations to create a _____ experience for customers.
personalized
What is the importance of feedback in strategic CRM?
Feedback helps organizations understand customer needs and improve services.
What does CRM stand for?
Customer Relationship Management
True or False: Operational CRM focuses on the automation of customer-facing processes.
True
Fill in the blank: Operational CRM primarily deals with ________ interactions.
customer
Which of the following is a key function of operational CRM? A) Data warehousing B) Sales force automation C) Business intelligence
B) Sales force automation
What is the main goal of operational CRM?
To improve customer service and increase sales efficiency.
Name one benefit of using operational CRM.
Improved customer service through better communication.
True or False: Operational CRM includes tools for marketing automation.
True
What does sales force automation (SFA) refer to?
The use of software to automate sales tasks and processes.
Multiple choice: Which of the following is NOT a component of operational CRM? A) Customer service management B) Marketing automation C) Data mining
C) Data mining
What role does customer service management play in operational CRM?
It helps to manage customer interactions and support issues.
Fill in the blank: Operational CRM can help organizations to track ________ and manage leads.
sales activities
True or False: Operational CRM is only beneficial for large corporations.
False
What is the significance of integration in operational CRM?
Integration allows different departments to share customer information and improve collaboration.
Name one challenge of implementing operational CRM.
Resistance to change from employees.
What is the relationship between operational CRM and customer satisfaction?
Operational CRM aims to enhance customer satisfaction by streamlining interactions and improving service.
What does CRM stand for?
Customer Relationship Management
True or False: CRM is only a software solution.
False
Fill in the blank: A common misconception about CRM is that it is solely focused on __________.
sales
What is a primary goal of CRM?
To improve customer relationships and enhance customer satisfaction.
Which of the following is NOT a function of CRM? (A) Data Analysis (B) Project Management (C) Customer Support
B
True or False: CRM systems can help with marketing automation.
True
What is one reason businesses misunderstand CRM?
They believe it is just a tool for tracking sales rather than a comprehensive strategy.
Short answer: Name one benefit of implementing a CRM system.
Improved customer retention.
Multiple choice: Which of the following is a key component of CRM? (A) Customer Data (B) Financial Reporting (C) Inventory Management
A
Fill in the blank: CRM systems can integrate with __________ systems to provide a holistic view of customer interactions.
other business
True or False: CRM is only beneficial for large enterprises.
False
What is a common feature of CRM software?
Contact management
Short answer: How can CRM improve customer service?
By providing detailed customer information to support agents.
What does a misunderstanding of CRM often lead to?
Underutilization of the system and missed opportunities for customer engagement.
Multiple choice: Which of the following describes a CRM strategy? (A) A plan to increase sales only (B) A plan to enhance customer interactions across all touchpoints (C) A plan to reduce costs only
B
