CGS
According to Hubspot, .....% of sales professionals rated sales prospecting as the most difficult stages in the sales process. CRM systems can assist with prospecting sales targets. Please enter a number for your answer.
42
Select all the true statements about B2C transactions.
Business-to-Consumer (B2C) e-commerce is the selling of products and services to individual consumers. B2C e-commerce transactions occur entirely online. The Internet serves as the "physical location" and the e-commerce site serves as the portal between the consumer and the business where purchases can be made.
Which of the following statements about how CRM systems assist businesses in targeting a market segment are true?
CRM systems are used to collect data from customer transactions. This data is used for target market identification. CRM systems provide a variety of analytical tools, including those used to identify and understand the target market.* Organizations must precisely identify their target markets so they best utilize resources when marketing to potential and existing customers.*
Which of the following are popular CRM options that are used to assist with sales prospecting?
Clearbit Prospector LinkedIn Sales Navigator Zoominfo
Select the sources of information that a CRM system uses to collect data about current customers.
Customer Surveys
It is important to create and follow a well-designed e-commerce strategy, especially for start-up companies. Match each of the following terms to the correct phase in which they occur.
Phase 1: matches Choice, Web Planning Web Planning Phase 2: matches Choice, Web Development Web Development Phase 3: matches Choice, Web Implementation Web Implementation Phase 4: matches Choice, Social Media Planning Social Media Planning Phase 5: matches Choice, Social Media Implementation Social Media Implementation Phase 6: matches Choice, Mobile Platform Planning and Implementation Mobile Platform Planning and Implementation
E-commerce has created a lot of opportunities for both consumers and organizations. While there are many positive benefits to e-commerce, there are some issues that arise as a result of e-commerce. Which of the following are common issues that are experienced by e-commerce businesses?
Threats to customer data Customer loyalty
Business-to-Government (B2G), also commonly referred to as Business-to-
administration
According to Statista, .... has revenue of over revenue of over $280 billion dollars, sells over 120 million different products, and has over 150 million customers access their mobile app every month.
amazon
A cost- ... analysis is a useful tool used to analyze the costs associated with implementing a project or set of activities and the benefits that can be achieved as a result of the implementation.
benefit
The practice of selling used, old, or obsolete products via the Internet in exchange for a new product or a cash payout is called re-
commerce
The term _____ was first used in 1997 by Kevin Duffy and refers to e-commerce transactions (buying and selling goods and services) that are executed using wireless mobile devices including smartphones and tablet computers.
m-commerce
M-commerce is emerging as one of the most important areas in today's e-commerce landscape. M-commerce relies heavily on progressive web applications (PWAs) and Accelerated ... pages (AMPs). AMPs are a creation of Google and Twitter and are designed using a scaled down version Hyper-text markup language (HTML) to create fast loading web pages.
mobile
The ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell the products and services they offer is called e-commerce
ubiquity
Many e-commerce sites now host areas where users can post ratings, questions, or comments about a product or service. The content that is posted in these areas is referred to as
user
The Great PNW, an Internet-based lifestyle clothing company based in Spokane, WA spends $50,000 in one month on advertising and marketing. In that same month, they receive 5,000 orders from new customers. The result is a CAC of _____.
$10
According to the FTC Section ..... the government has the authority to prevent unfair or deceptive trade practices. The FTC has the authority to take legal action against organizations that fail to implement and maintain reasonable data security measures, fail to publish and follow a privacy policy, and fail to provide sufficient security for personal data stored by the organization.
5
Customer acquisition costs associated with e-commerce activities include all of the sales and marketing costs associated with reaching and engaging potential customers and encouraging these customers to make an initial purchase. Which of the following are considered sales and marketing customer acquisition costs (CAC)?
Advertising and marketing expense Marketing salaries Overhead costs associated with marketing
Match the market share as a percentage of e-commerce sales to the correct company.
Amazon matches Choice, 47% 47% eBay matches Choice, 6.1% 6.1% Apple matches Choice, 3.8% 3.8% The Home Depot matches Choice, 1.7% 1.7% Costco matches Choice, 1.3% 1.3%
Which of the following statements about how CRM systems assist businesses in targeting a market segment are true?
An organization's target market shares common characteristics including geographic location, demographic and psychographic backgrounds, and income level Analysis of customer characteristics is an important part of the target market identification process. CRM software is often used to identify an organization's target market and to provide critical insights into the profiles of these customers.
Which of the following statements about how CRM systems assist businesses in targeting a market segment are true?
Analysis of customer characteristics is an important part of the target market identification process. CRM software is often used to identify an organization's target market and to provide critical insights into the profiles of these customers. An organization's target market shares common characteristics including geographic location, demographic and psychographic backgrounds, and income level
Which of the following are types of qualitative data?
Attitude , Choice, Opinion Opinion , Choice, Motivation Motivation
Select all of the true statements about B2B transactions.
B2B purchases often occur in large quantities and are directly shipped from one business to another. Business-to-Business (B2B) e-commerce is the selling of good and services between businesses. B2B transactions often involve orders placed on a recurring basis.
The selling of products and services to individual consumers is considered a ..... -to-Consumer transaction. This transactional model mimics in-store purchasing at brick and mortar locations, but instead of consumers having to physically visiting a store to purchases goods or services, transactions occur entirely online. Listen to the complete question
Business
Select the true statements about how CRM market analytics improve the quality of customer data collection.
CRM relies heavily on data that is collected from a variety of sources including point of sale, e-commerce, social media, and email marketing. Analytics provided by CRM help to improve business processes and efficiencies. The quality of this data collected from various sources including point of sale and social media impacts the overall effectiveness of a CRM system.
Which of the following statements about CRM systems use in customer acquisition are true?
CRM software systems track prospective customers (and current customers) through the various stages of the funnel Customers can be acquired using a number of approaches including social media, search, affiliate, referral, and email marketing. * Organizations often track customer acquisition using a lead generation funnel
Select what's true about how businesses use CRM systems to analyze customer information.
Customer relationship management (CRM) analytics provides insights into customer behavior that can be used to make informed business decisions. Information is gathered from point of sale and e-commerce technology as well as through customer interactions. Often CRM systems use data mining to extract information from a customer database.*
E-commerce has an increasing global reach. Which of the following statements about the global reach of e-commerce are true?
E-commerce allows organizations to reach consumers across the globe. Using e-commerce, organizations can reach the largest number of potential and existing customers thus increasing their global influence. E-commerce technology creates a global marketplace across cultural and national boundaries far more effectively than traditional commerce options.
Select all of the true statements about B2G transactions.
In B2G transactions. governmental organizations often issue a request for proposal (RFP) that outlines the goods or services needed. Business-to-Government (B2G), also commonly referred to as Business-to-Administration (B2A), is e-commerce where the selling of goods and services from a business to a governmental organization takes place via online platforms. B2G often includes pre-negotiated contracts between a business and governmental organization.
Information density is the total amount of information as well as the quality of information available to all individuals in a market including customers and stakeholders. E-commerce technologies help to reduce the costs associated with which of following?
Information selection Communication
Key considerations of today's e-commerce landscape include which of the following? More than one answer may be selected.
Integrated shopping experiences M-commerce Internet of Things (IoT)
According to Salesforce.com, which of the following are factors to consider when selecting a customer segmentation tool? More than one answer can be selected.
Integration Cost Data collection tools
Select the true statements about CRM systems and how they assist businesses in qualifying potential customers.
Many CRM software programs offer the opportunity to create customized sales funnels based on specific organizational needs and sales characteristics. Qualifying a potential customer occurs when an organization determines whether or not an individual or business makes sense to pursue as a potential customer. Pursuing unqualified leads can be costly to a company because spending marketing dollars to pursue them often does not succeed
Which of the following are considered customer interaction metrics? More than one answer can be selected.
Marketing Sales Service
Select all the correct answer responses about personalization and customization in e-commerce.
Personalization is the ability of organizations to craft marketing messages directed and product/service offerings toward specific target markets. Customization is the adjustment of an organization's product or service offerings based on an individual's preferences or past buying behavior.
Which of the following would be classified as a Business-to-Business transaction? More than one answer may be selected.
Purchasing office supplies for a university Buying medical equipment for a pediatrician's office Purchasing food service items for a restaurant
Which of the following statements about re-commerce are true? More than one answer may be selected.
Re-commerce is the practice of selling used, old, or obsolete products via the Internet in exchange for a new product or a cash payout The practice of re-commerce has seen an increase in the marketplace and is offered by companies such as thredUp, Yerdle Re-commerce, and The RealReal. According to Yerdle Re-commerce, this segment is expected to grow from $21 billion to over $52 billion over the next five years.
M-commerce continues to see expansion into a variety of different business sectors. The business sectors m-commerce has had the biggest impact on include which of the following?
Retail Sales Financial Services Healthcare
Customer interaction encompasses all the communication that takes place between a customer and an organization. This includes which of the following:
Social media Traditional mail Email
Which of the following explain the importance of CRM to businesses? More than one answer can be selected.
Systems assist organizations to help synchronize customer interactions CRM systems provide insights into customer satisfaction metrics CRM is used to manage critical relationships
According to Salesforce.com, segmented marketing campaigns have been shown to generate an average of a 760% increase in revenue. When selecting a customer segmentation tool Salesforce.com has identified four factors to consider. One of these factors is integration. Integration is:
The ability to efficiently link data from various sources and platforms.
The design of a CRM system that collects data on customer interaction should include which of the following elements?
Treating customers as individuals Automation Monitoring customer interactions
E-commerce has an increasing global reach. Which of the following statements about the global reach of e-commerce are true?
Using e-commerce, organizations can reach the largest number of potential and existing customers thus increasing their global influence. E-commerce allows organizations to reach consumers across the globe. E-commerce technology creates a global marketplace across cultural and national boundaries far more effectively than traditional commerce options. Need help? Review these concept resources. Feedback Continue ©
The type of e-commerce transaction that allows consumers to interact with government or authoritative bodies for activities such as paying taxes, securing building permits, or paying tuition at a university, is referred to as a
consumer
Customer acquisition .... , (CAC) is a metric that is used by e-commerce companies and other sales-related organizations to assess the costs associated with convincing a potential customer to purchase a service or product.
cost
Customer acquisition costs associated with e-commerce activities include all of the sales and marketing.... associated with reaching and engaging potential customers and encouraging these customers to make an initial purchase.
costs
The adjustment of an organization's product or service offerings based on an individual's preferences or past buying behavior is referred to as e-commerce
customization
Customer .... is the value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs.
equity
One of the benefits of using a CRM system is that data can be analyzed and provided to assist in measuring customer __. It is the value that the future lifetime revenue an organization's customers will generate minus customer acquisition costs and customer retention costs.
equity
In 2015..... faced the Cambridge Analytica scandal in which the firm paid Facebook to acquire its users' personal data. It is estimated that over 87 million people were affected by this activity.
In e-commerce, the total amount of information as well as the quality of information available to all individuals in a market including customers and stakeholders is referred to as
information
Research shows that qualified sales leads result in better close rates and a higher return on .... (ROI). This process can be difficult to execute without the assistance of CRM software.
investment
CRM software assists organizations in identifying marketing qualified
leads
First used in 1997 by Kevin Duffy, ... refers to e-commerce transactions (buying and selling goods and services) that are executed using wireless mobile devices including smartphones and tablet computers.
m-commerce
In an e-commerce presence map, the _ incudes the methods used to reach the stakeholders and customers including desktop and mobile platforms, social media sites such as Instagram or Facebook, blogs, magazines, radio stations, and TV stations.
platform
Analytics can provide insight into how customers and members of the organization interact with the customer relationship management
system
Which of the following are popular re-commerce companies that are operating today? More than one answer may be selected.
thredUp Yerdle Re-commerce RealReal
According to research by Risk Based security, there were 2037 publicly reported data breaches in the first half of 2020.
true
Retail sales have been influenced by m-commerce in many ways. IKEA offers an reality app where customers can take pictures of their rooms, spaces, homes, and the app will superimpose furniture and fixtured into the space. Using this type of m-commerce strategy, IKEA is able to increase customer engagement and sales conversion.
virtual
Share of customer, also known as share of ..., focuses on getting as much business as possible from fewer customers.
wallet
Select what's true about how businesses use CRM systems to develop relationships with customers.
CRM systems provide organizations a clear overview of their customers. Data collected by CRM systems includes customers' likes and dislikes, what content they engage with, and what they post about competitors.* Information from CRM systems can be efficiently and intelligently used to make informed business decisions and to develop relationships with their customers
Information density is the total amount of information as well as the quality of information available to all individuals in a market including customers and stakeholders. E-commerce technologies help to reduce the costs associated with which of following?
Communication Information selection
Which of the following statements about CRM systems use in customer acquisition are true?
Customers can be acquired using a number of approaches including social media, search, affiliate, referral, and email marketing. * Organizations often track customer acquisition using a lead generation funnel CRM software systems track prospective customers (and current customers) through the various stages of the funnel
Identity Data
Name , Choice, Address Address , Choice, Gender Gender , Choice, Date of Birth Date of Birth
Select all of the following characteristics that explain information density.
Organizations benefit from information density because it provides them large data sets from e-commerce activities that can be used to create effective target market strategies. Information density in e-commerce also allows for consumers to more easily find prices for goods or services that are available for sale (price transparency) and the actual costs a seller paid to acquire the goods or service (cost transparency). Information density is the total amount of information as well as the quality of information available to all individuals in a market including customers and stakeholders.
Today's e-commerce landscape is dynamic and ever-changing. Organizations that have some (or all) of their operations involved in e-commerce need to address certain aspects of e-commerce in order to remain relevant. One key consideration in today's e-commerce landscape is M-commerce. One method businesses accomplish m-commerce is through the use of progressive _____ applications.
web
Select the correct statements about how the global e-commerce landscape is differentiated from the e-commerce landscape in the United States.
E-commerce sales in the United Kingdom e-commerce sales totaled over $142 billion dollars.Global retail e-commerce sales in 2020 are expected to be over $4.2 trillion dollars.In the United States e-commerce sales are expected to reach $600 billion dollars in 2020.
Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is called user-____ content. These contributors help to promote a brand or image without any direct influence by an organization.
generated
A _____ share of customer or share of wallet means that existing customers are spending more to purchase products or services from one organization than they are from direct or indirect competitors.
high
We Are Social gathers a number of statistics about the proliferation of e-commerce across the globe. They compiled data on the percentage of global Internet users aged 16-64 that participated in e-commerce activities. According to their data, ..
90%
We Are Social gathers a number of statistics about the proliferation of e-commerce across the globe. They compiled data on the percentage of global Internet users aged 16-64 that participated in e-commerce activities. Which of the following statistics about the 16-64 age demographic are true?
90% visited an online store on the world wide web. 74% reported they had purchased a good or service online. 80% searched online for a product or service to buy online.
According to Harvard Business School professor Clayton Christensen, there are over 30,000 new products introduced every year, and
95
Select all of the true statements about B2B transactions.
B2B transactions often involve orders placed on a recurring basis. Business-to-Business (B2B) e-commerce is the selling of good and services between businesses. B2B purchases often occur in large quantities and are directly shipped from one business to another.
A cost-benefit analysis is a useful tool used to analyze the costs associated with implementing a project or set of activities and the benefits that can be achieved as a result of the implementation. Which of the following would be considered benefits when conducting a cost-benefit analysis?
Market/brand exposure Productivity gains Sales increases
Ubiquity is the ability to have a presence in many places simultaneously. E-commerce has the ability to offer products and services in many places at all times. Which of the following statements about e-commerce ubiquity are true?
Refers to the degree an organization has gained access to consumers thus increasing the likelihood of product or service adoption. It is the ability of an organization to create a strong presence among consumers in many places, with minimal time constraints, to sell the products and services they offer. Gives customers the ability to purchase products and services regardless of time or location.
Which of the following are common issues experienced by e-commerce-oriented businesses?
Data theft Competitor analysis Ethical issues
By 2021 customer relationship management systems, as predicted by the Gartner IT Services company, will be the single largest revenue area of spending in ....
enterprise
According to eMarketer, the e-commerce company that ranks second in market share as a percentage of sales is ...... (Amazon is #1).
ebay
Put the steps of the development process for an e-commerce strategy that a start-up company might go through in the correct order. Start with Web Planning first.
1. Web planning2. Web development3. Web implementation4. Social Media planning5. Social media implementation6. Mobile platform planning and implementation
Organizations legitimately collect data from individuals for a variety of purposes including for CRM. While this information is legitimately collected, many organizations go on to sell this data to third parties who often use it for marketing and demographic analysis. Consider your favorite mobile app. Have you ever read the fine print before clicking the "I agree" button? Most people have never taken the time to read the fine print which often includes giving permission to the organization to use your data. In 2015 Facebook faced the Cambridge Analytica scandal in which the firm paid Facebook to acquire their users' personal data. It is estimated that over 87 million people were affected by this activity. As a result, many organizations (due to influence from regulatory agencies) are now more transparent about what kinds (if any) of data may be sold to third parties. Most consumers expect that the organization they share their personal data with will use it in ethical ways. However, data privacy and security are very difficult to control on the individual level. It is up to the organization to determine what types of data they will collect, how they will use this data, and to properly communicate these policies and procedures with the public.
Many organizations sell consumer data to third parties who use the data for marketing and demographic analysis. Organizations legitimately collect data from individuals for a variety of purposes including for CRM.
Match the term regarding sources of customer data to the correct statement.
Customer Surveys matches Choice, Utilized to collect feedback from customers. They can be deployed using a variety of means including paper, smartphones, email, and over the phone. Utilized to collect feedback from customers. They can be deployed using a variety of means including paper, smartphones, email, and over the phone. Social Media matches Choice, Organizations can leverage various of these platforms and integrate them within a CRM platform. These sites include YouTube, Instagram, Facebook, and TikTok. Organizations can leverage various of these platforms and integrate them within a CRM platform. These sites include YouTube, Instagram, Facebook, and TikTok. Monitoring Procurement Methods matches Choice, Anticipating preferred shopping methods, customer motivation, purchase frequency, and spending habits allows businesses to be more profitable. Anticipating preferred shopping methods, customer motivation, purchase frequency, and spending habits allows businesses to be more profitable. Analytics matches Choice, Used to uncover trends in the data that is collected about customers. Used to uncover trends in the data that is collected about customers.
