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Terms in this set (23)
CRM is a technology based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantage in the future.
False
The business world is shifting from customer focus to product focus.
False
The Internet can completely replace the phone and face-to-face communications with customers.
False
Customer service and support (CSS) is a part of operational CRM that automates service requests, complaints, product returns, and information requests.
True
Opportunity management CRM systems target sales opportunities by finding new customers or companies for future sales.
True
Opportunity management CRM occurs when a website has stored enough data about a person's likes and dislikes to fashion offers more likely to appeal to that person.
False
Call scripting occurs when a customer service representative answers customer inquiries and solves problems by email and IMing.
False
Back-office operations deal directly with the customer.
False
CRM allows an organization to accomplish all of the following except:
Complicate marketing and sales processes.
Which of the following represents operational CRM?
All of these.
-Supports traditional transactional processing.
-Supports day-to-day front-office operations.
-Supports operations that deal directly with the customers.
What supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers?
Analytical CRM
What can analytical CRM modeling tools discover?
All of these.
-Identify opportunities for expanding customer relationships.
-Identify opportunities for cross-selling.
-Identify opportunities for up-selling.
What occurs when a website can know enough about a person's likes and dislikes that it can fashion offers that are more likely to appeal to that person?
Website personalization
What helps an organization identify its customers across applications?
CRM reporting tech
Which of the following operational CRM technologies does the marketing department typically use?
List generator, campaign management, cross-selling and up-selling
What compiles customer information from a variety of sources and segments the information for different marketing campaigns?
List generator
What is McDonald's performing when it asks its customers if they would like to super-size their meals?
Up-selling
What automates each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts?
Sales management CRM systems
What targets sales opportunities by finding new customers or companies for future sales?
Opportunity management system
What allows customers to use the web to find answers to their questions or solutions to their problems?
Web based self service
What is automatic call distribution?
a phone switch routes inbound calls to available agents
What is predictive dialing?
automatically dials outbound calls and when someone answers, the call is forwarded to an available agent
What is web-based self-service?
A system that allows customers to use the web to find answers to their questions or solutions to their problems.
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Verified questions
psychology
Differentiate between the various types of professionals within the field of psychology.
Verified answer
algebra
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Verified answer
economics
The director of marketing at Reeves Wholesale Products is studying monthly sales. Three independent variables were selected as estimators of sales: regional population, per capita income, and regional unemployment rate. The regression equation was computed to be Ŷ= $$ 64,100 + 0.394X_1 + 9.6X_2 - 11,600 X_3 $$ a. What is the full name of the equation? b. Interpret the number 64,100.c.What are the estimated monthly sales for a particular region with a population of 796,000, per capita income of $6,940, and an unemployment rate of 6.0 percent?
Verified answer
question
The MBA program at a large university is facing a pleasant problem—too many applicants. The current admissions policy requires students to have completed at least 3 years of work experience and an undergraduate degree with a B-average or better. Until 3 years ago, the school admitted any applicant who met these requirements. However, because the program recently converted from a 2-year program (four semesters) to a 1-year program (three semesters), the number of applicants has increased substantially. The dean, who teaches statistics courses, wants to raise the admissions standards by developing a method that more accurately predicts how well an applicant will perform in the MBA program. She believes that the primary determinants of success are the following: Undergraduate grade point average (GPA) Graduate Management Admissions Test (GMAT) score Number of years of work experience She randomly sampled students who completed the MBA and recorded their MBA program GPA, as well as the three variables listed here. Test to determine which of the independent variables is linearly related to MBA GPA.
Verified answer
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