CRM (MIDTERM)

Question 1

Business Benefits of CRM (CRM enables an organization to:)

Answer 1

*Provide better customer service.
*Make call centers more efficient.
*Cross sell products more effectively.
*Help sales staff close deals faster.
*Simplify marketing and sales processes.
*Discover new customer.
*Increase customer revenues.

Question 2

RFM stands for:

Answer 2

Recency
Frequency
Monetary Value

Question 3

AIDA stands for:

Answer 3

Attention
Interest
Desire
Action

Question 4

Percent that know you are advertising.

Answer 4

Attention

Question 5

Percent that want to know more.

Answer 5

Interest

Question 6

Percent that want the product.

Answer 6

Desire

Question 7

Percent that will buy the product.

Answer 7

Action

Question 8

CRM stands for:

Answer 8

Customer
Relationship
Management

Question 9

The Evolution of CRM

Answer 9

*CRM reporting technology
*CRM analysis technologies
*CRM predicting technologies

Question 10

it helps organizations identify their customers across other applications.

Answer 10

CRM reporting technology

Question 11

it helps organization segment their customers into categories such as best and worst customers.

Answer 11

CRM analysis technologies

Question 12

it helps organizations make predictions regarding customer behavior such as which customers are at risk of leaving.

Answer 12

CRM predicting technologies

Question 13

3 Phases in the Evolution of CRM

Answer 13

Reporting
Analyzing
Predicting

Question 14

Operational & Analytical CRM

Answer 14

*Sales Systems
*Marketing Systems
*Customer Service Systems

Question 15

3 Marketing and Operational CRM Technologies

Answer 15

1.List Generator
2.Campaign Management System
3.Cross-selling and up-selling

Question 16

Complies customer information from a variety of sources and segment the information for different marketing campaigns.

Answer 16

List Generator

Question 17

Guides users through marketing campaigns.

Answer 17

Campaign Management System

Question 18

Selling Additional products or services.

Answer 18

Cross-selling

Question 19

Increasing the value of the sale.

Answer 19

Up-selling

Question 20

A system that automatically tracks all of the steps in the sales process.

Answer 20

Sales and Operation CRM

Question 21

3 Sales and Operation CRM Technologies

Answer 21

1.Sales Management CRM System
2.Contact Management CRM System
3.Opportunity Management CRM System

Question 22

Automates each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts.

Answer 22

Sales Management CRM System

Question 23

Maintains customer contact information and identifies prospective customers for future sales.

Answer 23

Contact Management CRM System

Question 24

Targets sales opportunities by finding new customers or companies for future sales.

Answer 24

Opportunity Management CRM System

Question 25

3 Customer Service and Operational CRM Technologies

Answer 25

1.Contact center (Call Center)
2.Web-based self-service system (Click-to-talk)
3.Call scripting system

Question 26

Common Features Included in Contact Centers

Answer 26

1.Automatic call distribution
2.Interactive voice response(IVR)
3.Predictive Dialing

Question 27

CRM Success Factors

Answer 27

1.Clearly communicate the CRM strategy
2.Define information needs and flows
3.Build an integrated view of the customer
4.Implement in iterations
5.Scalability for organizational growth

Question 28

Current Trends: SRM, PRM, & ERM

Answer 28

Supplier Relationship Management (SRM)
Partner Relationship Management (PRM)
Employee Relationship Management (ERM)