SCM 309 quiz 7
________________________ is process of managing interactions with existing as well as past and potential customers. It is one of many different approaches that allow a company to manage and analyze its own interactions with its past, current and potential customers. It's about investing time in your current customer base and prospects with the aim of retaining their custom as long as possible and increasing their spend. by delivering great customer service.
Customer Relationship Management
_____________________ is based on whether a product or service meets or exceeds the customer's a priori expectations.
Customer Satisfaction
Which of the following customer service elements can be classified as an example of post transaction elements?
Customer complaint resolution
In terms of customer experience, the statements below are characteristics of the perfect order, EXCEPT:
Customer deductions
When an organization attempts to offer the right products and services to customers at the right time through the offer of individual promotions tied to specific events like birthdays and anniversaries, this is referred to as:
Event-based marketing
All of the following are recommended for designing and implementing a successful CRM program EXCEPT:
Expect employees to 'learn on the job' and adapt their way of working
A customer's lifetime value is calculated by:
Finding the NPV of a customer's projected lifetime points for the firm
A Supply Chain value proposition that emphasizes Efficiency has the following characteristics, EXCEPT:
Flexible production
As Customer Services Levels increase, sales revenue ________________.
Increases at a decreasing rate
As Customer Service Levels increase, cost ____________.
Increases at an increasing rate
The use of quick response codes (QR Codes) to retrieve marketing information is a type of:
Relationship marketing
Which of the following is one of the most basic and important activities of CRM?
Segmenting customers
A _________ Is a set of activities that a firm operating in a specific industry preforms in order to deliver a valuable product for the market.
Value Chain
CRM systems allow organizations to identify which customers have stopped purchasing products or services, so that the organization can target those former customers for future promotions and/or perhaps to investigate why they stopped purchasing in the first place. This CRM attribute is called:
customer defection analysis
When evaluating customer segments, when the profit margin is LOW and the sales volume is LOW, the managerial prescription is to _________________.
review the relationship
