Deck 1: Principles of CRM

Question 1

360 degree view of the customer means:

A) A consistent view of the customer from beginning to end of the relationship
B) Customer data from all business areas
C) Customer data from all touch points
D) A hierarchy of effects of customer behavior
E) A,B and C are all aspects of a 360 degree view

Answer 1

A,B and C are all aspects of a 360 degree view

Question 2

Most agree that a comprehensive CRM system should contain four major technology components. What are these four technology components?

Answer 2

1. Data Warehouse
2. Analytical Tools
3. Campaign Management Tools
4. Interfaces to maintain the database

Question 3

What is de-marketing?

Answer 3

De-marketing is marketers' attempts to lower demand for their product or servicewhen it is unprofitable for the organization. Often used when companies want toreduce their ranks of non-profitable customers.

Question 4

According to Kutner and Cripps, CRM is founded on four tenets: What are these four tenets?

Question 5

CRM enables companies to have one-to-one dialogues with their customers. What are some of the benefits of having dialogues with your customers?

Question 6

How do dissatisfied customers drain company resources?

Question 7

With respect to web sites, what do the terms "customization" and "personalization" refer to?

Question 8

Why have CRM systems been adopted and developed so quickly by financialinstitutions and readily accepted by their customers?

Question 9

What are the objectives of any CRM system?

Question 10

Please comment on the correctness or incorrectness of the following statement:"Companies should make it their goal to attract the greatest number of customers. After all, every customer counts; and growing market share is an important measure of success."