MRKT 486 EXAM 2 UPDATED ACTUAL
Exam Questions and CORRECT Answers
operational CRM - CORRECT ANSWER - Involves the application of technologies to
support customer-facing processes in selling, marketing and customer service operations.
Operations exposes the real differences between the traditional company view of CRM(eCRM)
and the emerging social customer view
eCRM characteristics - CORRECT ANSWER - company-defined process and control of
dialogue
-business focus on products/services that meet customer needs
-process centric
-company defined business hours
-personalization driven by central, marketing database and transactional event
-sales/transaction focus
-marketing focused on highly targeted, specific, personalized (push) communications
-business constrained, inside out design process
-contact management focus
-well defined and stable
-simple transactional outcomes
-technology focused on operational/delivery dimensions of sales, marketing and service
-technology automates brand to consumer (B2C) interactions
-data rich
-private, closed loop interaction
-resides in a customer focused business ecosystem
social CRM characteristics - CORRECT ANSWER - customer-defined process and control
of dialogue
-business focus on environments and experiences that engage and empower the customer
,-conversation centric/on going engagement
-interaction /conversation focus
-marketing focused on facilitating on going conversations and redirecting to meet customer
needs
-genuinely customer centric, outside in design process
-community management focus
-dynamic and evolving
-complex relationship outcomes
-primarily 'pull' communications
-technology focused on operational/delivery and social dimensions of sales, marketing and
service
-technology enables customer to customer (C2C) interactions, content sharing, peer communities
and conversations
-content rich
-mix of public and private interactions
-resides in a customer ecosystem
operational CRM makes customer facing activities more efficient - CORRECT
ANSWER - -formalized and standardized
-generates operational cost savings
This requires investment in building a single view of the customer (SVOC)
SVOC - CORRECT ANSWER - an aggregated, consistent and holistic representation of
the data known by an organization about its customers
CRM strategy limited by operational capabilities - CORRECT ANSWER - -SVOC
integrates all customer data from sales, marketing and service accounts
-operational CRM uses SVOC to improve customer experience
-operational CRM capabilities are enhanced by investment in sales force automation, marketing
automation and/or service automation
, CRM in the B2B context - CORRECT ANSWER - B2B CRM is the strategic process of
strengthening relationships with business customers, especially important clients, beyond
transactional relationships to increase the value of these buyer-seller relationships
B2B CRM and the sales force - CORRECT ANSWER - Sales force is entrusted with the
seller's most important asset: the customers. Task is to effectively and efficiently manage
relationships with customer organization's buyers-to win over and maintain satisfied customers
while keeping costs down. Made possible through sales force automation (SFA)
Sales force automation (SFA) functionality - CORRECT ANSWER - *account
management, activity management, contact management, contract management, document
management, event management, incentive management, lead management, opportunity
management, order management, pipeline management, product encyclopedias, product
configuration, product visualization, proposal generation, quotation management, sales
forecasting, sales management reporting, territory management, workflow development
*primarily for sales representatives and managers
*not all functionality in all SFA products
account management (SFA) - CORRECT ANSWER - provides a complete view of the
customer relationship including contacts, contact history, completed transactions, current orders,
shipments, enquiries, service history, opportunities and quotations
-allows tracking of all obligations in every account, whether this is an opportunity to be closed,
an order or a service enquiry
activity management (SFA) - CORRECT ANSWER - keeps sales team aware of all
activities, whether complete or pending, related to an account, contact or opportunity, by
establishing to-do lists, setting priorities, monitoring progress and programming alerts.
-includes things like preparation of quotations, scheduling of sales calls and following up
enquiries
contact management (SFA) - CORRECT ANSWER - includes tools for building, sharing,
and updating contact lists, making appointments, time setting, and task, event and contact
tracking.
Exam Questions and CORRECT Answers
operational CRM - CORRECT ANSWER - Involves the application of technologies to
support customer-facing processes in selling, marketing and customer service operations.
Operations exposes the real differences between the traditional company view of CRM(eCRM)
and the emerging social customer view
eCRM characteristics - CORRECT ANSWER - company-defined process and control of
dialogue
-business focus on products/services that meet customer needs
-process centric
-company defined business hours
-personalization driven by central, marketing database and transactional event
-sales/transaction focus
-marketing focused on highly targeted, specific, personalized (push) communications
-business constrained, inside out design process
-contact management focus
-well defined and stable
-simple transactional outcomes
-technology focused on operational/delivery dimensions of sales, marketing and service
-technology automates brand to consumer (B2C) interactions
-data rich
-private, closed loop interaction
-resides in a customer focused business ecosystem
social CRM characteristics - CORRECT ANSWER - customer-defined process and control
of dialogue
-business focus on environments and experiences that engage and empower the customer
,-conversation centric/on going engagement
-interaction /conversation focus
-marketing focused on facilitating on going conversations and redirecting to meet customer
needs
-genuinely customer centric, outside in design process
-community management focus
-dynamic and evolving
-complex relationship outcomes
-primarily 'pull' communications
-technology focused on operational/delivery and social dimensions of sales, marketing and
service
-technology enables customer to customer (C2C) interactions, content sharing, peer communities
and conversations
-content rich
-mix of public and private interactions
-resides in a customer ecosystem
operational CRM makes customer facing activities more efficient - CORRECT
ANSWER - -formalized and standardized
-generates operational cost savings
This requires investment in building a single view of the customer (SVOC)
SVOC - CORRECT ANSWER - an aggregated, consistent and holistic representation of
the data known by an organization about its customers
CRM strategy limited by operational capabilities - CORRECT ANSWER - -SVOC
integrates all customer data from sales, marketing and service accounts
-operational CRM uses SVOC to improve customer experience
-operational CRM capabilities are enhanced by investment in sales force automation, marketing
automation and/or service automation
, CRM in the B2B context - CORRECT ANSWER - B2B CRM is the strategic process of
strengthening relationships with business customers, especially important clients, beyond
transactional relationships to increase the value of these buyer-seller relationships
B2B CRM and the sales force - CORRECT ANSWER - Sales force is entrusted with the
seller's most important asset: the customers. Task is to effectively and efficiently manage
relationships with customer organization's buyers-to win over and maintain satisfied customers
while keeping costs down. Made possible through sales force automation (SFA)
Sales force automation (SFA) functionality - CORRECT ANSWER - *account
management, activity management, contact management, contract management, document
management, event management, incentive management, lead management, opportunity
management, order management, pipeline management, product encyclopedias, product
configuration, product visualization, proposal generation, quotation management, sales
forecasting, sales management reporting, territory management, workflow development
*primarily for sales representatives and managers
*not all functionality in all SFA products
account management (SFA) - CORRECT ANSWER - provides a complete view of the
customer relationship including contacts, contact history, completed transactions, current orders,
shipments, enquiries, service history, opportunities and quotations
-allows tracking of all obligations in every account, whether this is an opportunity to be closed,
an order or a service enquiry
activity management (SFA) - CORRECT ANSWER - keeps sales team aware of all
activities, whether complete or pending, related to an account, contact or opportunity, by
establishing to-do lists, setting priorities, monitoring progress and programming alerts.
-includes things like preparation of quotations, scheduling of sales calls and following up
enquiries
contact management (SFA) - CORRECT ANSWER - includes tools for building, sharing,
and updating contact lists, making appointments, time setting, and task, event and contact
tracking.
