Customer Relationship Management

Question 0

4 activities of CRM

Answer 0

Customer selection
Customer acquisition
Customer retention
Customer extension

Question 1

CRM

Answer 1

An approach to building and sustaining long-term business with customers.

Question 2

C. Selection

Answer 2

Identifying different group of customers to develop offerings and to target during next step

Question 3

C. Aqusition

Answer 3

Forming new relationships with customers while minimizing cost and targeting high value customers.

Question 4

Customer retention

Answer 4

Keep existing customers. Identifying relevant offering and detailed position in the customer lifecycle.

Question 5

Customer extension

Answer 5

Refers to increasing the depth or range of products that a customer purchases from a company.

Question 6

E-crm

Answer 6

Using digital communications tech to maximize sales to existing customers and encourage continued usage of online services.

Question 7

Benefit of E-CRN

Answer 7

Targeting more cost-effectively.
Achieve mass customization of the marketing message.
Increase depth, breadth and nature of relationship.
A learning relationship
Lower cost

Question 8

Permission marketing

Answer 8

Customers agree to be involved in an organization’s marketing activities, usually as a result of an incentive.