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Exam 14: Customer Relationship Management

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Question 71

Multiple Choice

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Which of the following is not a requirement necessary to constitute a perfect order?

A) It must be delivered to the right place.
B) It must be billed correctly.
C) It must be delivered on the correct due date.
D) It must be delivered with the right items in the right quantities.
E) It must include return packaging material in case the product is damaged.

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Question 72

Multiple Choice

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A local hair salon is analyzing its customer data to determine the last time each customer visited the salon,if he or she purchased a hair care product,and how much money the customer spends on the salon's services and products.In essence,it is trying to determine its customers' profit potential so it can target them for marketing efforts.What data analysis tool is the salon using?

A) recency-frequency-monetary analysis
B) demographic value analysis
C) customer segmentation analysis
D) predictive modeling
E) lifetime value analysis

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Question 73

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What metric measures the value of goods shipped on time versus the total value of the order?

Predictive modeling allows the company to monitor the actual costs of doing business with customers to ensure that it is focusing on the most profitable customers.

_____ _____ involves the computerized search for meaningful trends in a large amount of data.

A _____ _____ is any point at which a customer and the company come into contact.

Customer value refers to the actual monetary benefits a customer receives from the purchase of a good or service.

Any point at which a customer and the company come into contact is called a

Companies can assess if they are doing a good job servicing their customers by establishing performance measurements,also known as

When it comes to customer focus,a company directs its personal selling efforts on those customers who are most _____.

The corporate culture at Southwest Airlines includes giving employees permission to make decisions and take action on their own to help their customers.This is the idea behind _______.

A company can determine the value of its CRM program by calculating its

The process by which companies get new customers,keep the customers they already have,and grow the business by increasing their share of customers' purchases is referred to as _____ _____ _____.

The data analysis technique that uses sophisticated algorithms to try to determine the future actions of customers is called

Ensuring that customers can depend on receiving a good or service within a stated lead time and that there will be no problems with the order is the notion behind the customer service objective referred to as _______.

Customer relationship management is a(n)_______ process,meaning that the firm repeats the sequence of steps as necessary to reach the desired result.

A firm that uses CRM data to generate coupons for customers based on their past purchases is using the CRM data to

When companies meet the needs and expectations customers have for their goods or services,they have achieved

Which measure of customer service effectiveness focuses on trends in repeat buying from current customers?

By congratulating the buyer on his or her purchase choice and reinforcing the best aspects of the good or service,a firm can use CRM information to combat _____ _____.