CIB 4203 - Chapter 4 exam questions with verified answers

CIB 4203 - Chapter 4 exam questions with verified answers *______ rely on customer-related data* A. Strategic CRM only B. All forms of CRM - ANSWERS All forms of *______ CRM focuses on keeping profitable customers.* A. Strategic B. Operational C. Analytical D. Collaborative - ANSWERS Strategic *______ CRM focuses on processes automation.* A. Strategic B. Operational C. Analytical D. Collaborative - ANSWERS Operational *______ CRM applies data mining for tactical and strategic purposes.* A. Strategic B. Operational C. Analytical D. Collaborative - ANSWERS Analytical *______ CRM sharing data with partners.* A. Strategic B. Operational C. Analytical D. Collaborative - ANSWERS Collaborative *______ databases are the foundation for the execution of CRM strategy.* A. Process-related B. Customer-related - ANSWERS Customer-related What are customer-related data? - ANSWERS Customer-related data is anything pertinent to the development and maintenance of customer relationships. *Customer-related data can have a current, past or future perspective focussing upon ______ .* A. Current opportunities, historic sales, or potential opportunities B. Current sales, historic opportunities, or possible opportunities - ANSWERS Current opportunities, historic sales, or potential opportunities Customer-related data might be about ______. List 5 items. - ANSWERS 1- Individual customers 2- Customer cohorts 3- Customer segments 4- Market segments 5- Entire markets Customer-related data might contain ______. List 3 items. - ANSWERS 1- Product information 2- Competitor information 3- Regulatory data Where can you find customer-related data? List 3 places. - ANSWERS 1- In functional areas 2- In channel silos 3- In product silos *Sales, marketing, service, logistics and accounts.* A. In functional areas B. In channel silos C. In product silos - ANSWERS In functional areas *Each serving different operational purposes.* A. In functional areas B. In channel silos C. In product silos - ANSWERS In functional areas *Each recording different customer-related data such as opportunities, campaigns, enquiries, deliveries, and billing.* A. In functional areas B. In channel silos C. In product silos - ANSWERS In functional areas *Company-owned retail stores, third-party retail outlets and online retail* A. In functional areas B. In channel silos C. In product silos - ANSWERS In channel silos *Different product managers might maintain their own customer-related data.* A. In functional areas B. In channel silos C. In product silos - ANSWERS In product silos Most databases share a common structure. List 3 components of it. - ANSWERS 1- Files (tables) 2- Records (rows) 3- Fields (columns) *______ hold information on a single topic such as customers, products, transactions or service requests.* A. Files (tables) B. Records (rows) C. Fields (columns) - ANSWERS Files (tables) *Each ______ contains a number of records (rows).* A. File (table) B. Record (row) C. Field (column) - ANSWERS File (table) *Each ______ contains a number of elements of data.* A. File (table) B. Record (row) C. Field (column) - ANSWERS Record (row) *Elements of data are arranged in common set of ______ across the table.* A. Files (tables) B. Records (rows) C. Fields (columns) - ANSWERS Fields (columns) Building a customer-related database consists of 6 phases. List them. - ANSWERS 1- Define the database functions 2- Define the information requirements 3- Identify the information sources 4- Select the database technology and hardware platform 5- Populate the database 6- Maintain the database *______ are defined by the CRM-related purposes for which data is acquired, enhanced, stored, distributed and used.* A. Database functions B. Information requirements - ANSWERS Database functions *______ CRM uses data to identify target customers* A. Strategic B. Operational C. Analytical D. Collaborative - ANSWERS Strategic *______ CRM uses data to help in the everyday running of the business.*