SALES MANAGEMENT D099 UPDATED TEST PAPER
QUESTIONS AND ANSWERS SET A+
✔✔Process of gaining new customers by persuading them to purchase a company's
products and/or services - ✔✔Customer acquisition
✔✔The ability of a company or product to retain its customers over some specified
period - ✔✔Customer retention
✔✔Seeks to increase the profit margins of a particular customer segment by offering
the desired product and service at the right time through the right channel. -
✔✔Customer profitability
✔✔Operational, analytical, and collaborative - ✔✔Three primary functions of a CRM
system
✔✔Primary activities of CRM that are or result in actual interactions with customers.
Operational CRM relates to integrating sales, marketing, and customer support to
ensure that customer satisfaction is as high as possible - ✔✔Operational
✔✔Data-oriented - ✔✔Analytical
✔✔Involves many parties, including the customer; other internal departments such as
finance, sales, and service; and other interaction points with external vendors -
✔✔Collaborative
✔✔Businesses try to understand their customers when they gather information and
insights about them - ✔✔Knowledge discovery
✔✔Phase focuses on the development of strategies and processes directed by the
knowledge discovery phase - ✔✔Market planning
,✔✔Takes place at the specific customer touchpoints at which all customers interact with
or contact, directly or indirectly, each aspect of the organization - ✔✔Customer
interaction
✔✔Focuses on assessing, measuring, and evaluating the CRM process - ✔✔Analysis
and refinement
✔✔Recreating a core business process with the goal of improving product output,
quality, or reducing costs - ✔✔Re-engineering processes
✔✔Technical and business processes used to combine data from disparate sources
into meaningful and valuable information - ✔✔Integrating data
✔✔The graphical representation of the data generated by a report (or multiple reports)
at a certain point in time - ✔✔Dashboards
✔✔A large store of data accumulated from a wide range of sources within a company
and used to guide management decisions - ✔✔Data warehouse
✔✔A piece of code that is capable of copying itself and typically has a detrimental
effect, such as corrupting the system or destroying data - ✔✔Viruses
✔✔A type of malicious software program whose primary function is to infect other
computers while remaining active on infected systems - ✔✔Worms
✔✔A type of malicious software designed to spy on the victim's computer to access files
or to extract sensitive data - ✔✔Trojan horses
✔✔A CRM, apart from organizing information, records, and reports, can automate,
streamline, and monitor workflows and activities quickly - ✔✔Improved efficiency
✔✔A CRM is one of the established means of increasing favorable customer
experiences and communication, as it is capable of tracking the connection of an
organization with customers on all touchpoints business website, email, mobile, live
chat, tickets, and physical or online store - ✔✔Customer focus
✔✔Highlights information as the most valuable strategic asset, have instruments for
collecting, analyzing, and making sense of customers' and prospects' information, so an
organization can gather ideas to enhance its services and offerings - ✔✔Data
accessibility
, ✔✔Improved workflows and communication between teams and employees, roles can
be defined and employees can understand their responsibilities - ✔✔Enhanced
accountability
✔✔Any way a consumer can interact with a business, whether it be person-to-person,
through a website, an app, or any form of communication - ✔✔Touchpoints
✔✔Country, state, and zip code - ✔✔Geographic
✔✔Age, gender, race, ethnicity, education, and income - ✔✔Demographic
✔✔Country of origin, language, religion, dietary preferences, family structure, and social
roles - ✔✔Cultural
✔✔Values, opinions, attitudes, and lifestyle - ✔✔Psychographic
✔✔How they use products, what benefits they want, how they shop or pay, and their
loyalty status - ✔✔Behavioral
✔✔Creating a unique marketing mix for every customer - ✔✔One-to-one marketing
✔✔A form of direct marketing using databases of customers or potential customers to
generate personalized communications in order to promote a product or service for
marketing purposes - ✔✔Database marketing
✔✔A systematic electronic analysis of customer data to improve decision-making -
✔✔CRM analytics
✔✔Computes the success of recent sales activities and forecasts but also determines
the trends and possible results of future ones. This type of data, the sales department
can relate sales activities to revenue and other performance outcomes, set objectives
for the sales team, and create a sales plan - ✔✔Sales analytics
✔✔Determine the business objective (what you want to measure, what question you
want to answer, or what methods will be used to collect the data) and perform the actual
data collection using the prescribed methods - ✔✔Collection
✔✔Data must be sorted and organized for analysis - ✔✔Processing
✔✔Data is organized into graphs and charts for visualization and analysis. Also, you
may relaize you need more data, the data you extracted is useless, or other data should
be extracted. - ✔✔Analysis
QUESTIONS AND ANSWERS SET A+
✔✔Process of gaining new customers by persuading them to purchase a company's
products and/or services - ✔✔Customer acquisition
✔✔The ability of a company or product to retain its customers over some specified
period - ✔✔Customer retention
✔✔Seeks to increase the profit margins of a particular customer segment by offering
the desired product and service at the right time through the right channel. -
✔✔Customer profitability
✔✔Operational, analytical, and collaborative - ✔✔Three primary functions of a CRM
system
✔✔Primary activities of CRM that are or result in actual interactions with customers.
Operational CRM relates to integrating sales, marketing, and customer support to
ensure that customer satisfaction is as high as possible - ✔✔Operational
✔✔Data-oriented - ✔✔Analytical
✔✔Involves many parties, including the customer; other internal departments such as
finance, sales, and service; and other interaction points with external vendors -
✔✔Collaborative
✔✔Businesses try to understand their customers when they gather information and
insights about them - ✔✔Knowledge discovery
✔✔Phase focuses on the development of strategies and processes directed by the
knowledge discovery phase - ✔✔Market planning
,✔✔Takes place at the specific customer touchpoints at which all customers interact with
or contact, directly or indirectly, each aspect of the organization - ✔✔Customer
interaction
✔✔Focuses on assessing, measuring, and evaluating the CRM process - ✔✔Analysis
and refinement
✔✔Recreating a core business process with the goal of improving product output,
quality, or reducing costs - ✔✔Re-engineering processes
✔✔Technical and business processes used to combine data from disparate sources
into meaningful and valuable information - ✔✔Integrating data
✔✔The graphical representation of the data generated by a report (or multiple reports)
at a certain point in time - ✔✔Dashboards
✔✔A large store of data accumulated from a wide range of sources within a company
and used to guide management decisions - ✔✔Data warehouse
✔✔A piece of code that is capable of copying itself and typically has a detrimental
effect, such as corrupting the system or destroying data - ✔✔Viruses
✔✔A type of malicious software program whose primary function is to infect other
computers while remaining active on infected systems - ✔✔Worms
✔✔A type of malicious software designed to spy on the victim's computer to access files
or to extract sensitive data - ✔✔Trojan horses
✔✔A CRM, apart from organizing information, records, and reports, can automate,
streamline, and monitor workflows and activities quickly - ✔✔Improved efficiency
✔✔A CRM is one of the established means of increasing favorable customer
experiences and communication, as it is capable of tracking the connection of an
organization with customers on all touchpoints business website, email, mobile, live
chat, tickets, and physical or online store - ✔✔Customer focus
✔✔Highlights information as the most valuable strategic asset, have instruments for
collecting, analyzing, and making sense of customers' and prospects' information, so an
organization can gather ideas to enhance its services and offerings - ✔✔Data
accessibility
, ✔✔Improved workflows and communication between teams and employees, roles can
be defined and employees can understand their responsibilities - ✔✔Enhanced
accountability
✔✔Any way a consumer can interact with a business, whether it be person-to-person,
through a website, an app, or any form of communication - ✔✔Touchpoints
✔✔Country, state, and zip code - ✔✔Geographic
✔✔Age, gender, race, ethnicity, education, and income - ✔✔Demographic
✔✔Country of origin, language, religion, dietary preferences, family structure, and social
roles - ✔✔Cultural
✔✔Values, opinions, attitudes, and lifestyle - ✔✔Psychographic
✔✔How they use products, what benefits they want, how they shop or pay, and their
loyalty status - ✔✔Behavioral
✔✔Creating a unique marketing mix for every customer - ✔✔One-to-one marketing
✔✔A form of direct marketing using databases of customers or potential customers to
generate personalized communications in order to promote a product or service for
marketing purposes - ✔✔Database marketing
✔✔A systematic electronic analysis of customer data to improve decision-making -
✔✔CRM analytics
✔✔Computes the success of recent sales activities and forecasts but also determines
the trends and possible results of future ones. This type of data, the sales department
can relate sales activities to revenue and other performance outcomes, set objectives
for the sales team, and create a sales plan - ✔✔Sales analytics
✔✔Determine the business objective (what you want to measure, what question you
want to answer, or what methods will be used to collect the data) and perform the actual
data collection using the prescribed methods - ✔✔Collection
✔✔Data must be sorted and organized for analysis - ✔✔Processing
✔✔Data is organized into graphs and charts for visualization and analysis. Also, you
may relaize you need more data, the data you extracted is useless, or other data should
be extracted. - ✔✔Analysis
