MKT 475 Week 4 Quiz – Strayer



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Quiz 3 Chapter 4 and 5

Chapter 04                                      

Strategic Customer Management: Systems, Ethics, and Social Responsibility

True/False Questions
 

1. The metric customer lifetime value incorporates the past profit produced by the customer in its calculation.


 7
 
2. The company-wide level of CRM offers a single view of the customer across all of the organization’s access channels to the customer.


 9

3. In the value creation process, the benefits the customer receives are expressed by the customer strategy.


 3

4.  The integration of CRM into the firm’s operational support systems is important for the successful implementation of CRM. 


 1

5. In order to successfully apply CRM, a firm should first create a customer strategy before implementing CRM.


 1

6. Investing in building relationships with disinterested customers is a major initiative of CRM.


 2

7. The sum of CLV for all the customers of a firm is termed as business case.


 3

8. CRM approaches do not identify less attractive customers.


 4

9. If a firm is essentially defensive in its stance on social responsiveness, then its primary concerns will be the protection of relationships.


  126

10. Companies that have embedded CSR in their strategy usually take a defensive stance in their response to social responsibility.


  126

Multiple Choice Questions


11. _____ is a cross-functional core business process that is specifically concerned with achieving improved shareholder value through the development of effective affiliations with key customers and customer segments.
A. Benchmarking
B. Customer equity
C. Customer relationship management
D. Customer value proposition


 4

12. CRM supports a customer-responsive strategy, which gains competitive advantage when it:
A. demonstrates the customer’s trustworthiness and reliability to the company.
B. delivers superior customer value by personalizing the interaction between the customer and the company.
C. tightens connections with the competitors.
D. achieves the coordination of customer capabilities around the organization.


 5

13. Which of the following information should be present in a database created by CRM technology?
A. Channels of distribution
B. Company contacts with its distributors
C. Response to marketing stimuli
D. Information on supplier quality


 7

14. Which of the following levels of CRM is concerned with coordinating information across all contact channels on a continuing basis?
A. Field level
B. Company-wide level
C. Functional level
D. Customer-facing level


 8-109

15. Which of the following CRM levels provides a strategic focus for CRM?
A. Field level
B. Company-wide level
C. Functional level
D. Customer-facing level


 9

16. Which of the following is the first step of developing a CRM strategy?
A. Form a cross-functional CRM project team for decision analysis and actions.
B. Gain an organization-wide commitment to CRM strategy.
C. Conduct a business needs analysis concerning customer relationships.
D. Develop and define the CRM strategy to guide management process.


 9
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17. The _____ level of CRM considers the implications of knowledge about customers and their preferences across the entire organization. 
A. field
B. customer-facing
C. company-wide
D. functional


 9

18. The _____ perspective of CRM considers the processes that are needed to fulfill required marketing activities.
A. functional
B. field
C. company-wide
D. customer-facing


 8

19. The _____ in a CRM strategy is an assessment that indicates the shareholder value and financial return of delivery of the required customer value.
A. operating agreement
B. enterprise transformation plan
C. value proposition
D. business case


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20. The _____ in the CRM strategy spells out what the organization must provide in order to satisfy customer expectations.
A. value proposition
B. enterprise transformation plan
C. operating agreement
D. business case


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21. The _____ in the CRM strategy indicates the necessary initiatives to launch the strategy.
A. value proposition
B. enterprise transformation plan
C. operating agreement
D. business case


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22. The _____ component in the CRM strategy indicates how different consumer segments will be formed and managed.
A. business case
B. value proposition
C. customer strategy
D. enterprise transformation plan



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