CRM Exam 2 - Ch. 6,9,10 Pre Course Study Guide Actual Questions And Answers 100% Correct.

three phases of marketing technology development path - correct answers1. mass communication 2. database marketing 3. integrated marketing (MDI) T or F: Organizations usually move through these phases over time and find themselves simultaneously using functions in more than one phase - correct answers true T or F: Budget constraints and technology or services contractual obligations may result in a less than optimal technology migration - correct answers true examples of mass communication - correct answers TV, radio, print, web pages _____________ marketing: - A form of direct marketing that uses customer data to personalize the communication to promote ...sound familiar? - Programs supported by statistical models - Predicting and attempting to change consumer behavior - Complex databases, enhanced data communication, online processing - correct answers database ______________ _____ ______ : - A type of database designed to contain limited amount of information used for current marketing activity - Quick read/write capability - Easy access from multiple touch points - Integrated with data preparation (real-time and batch) and data warehouse - E.g., when telemarketer looks up order info for a customer, when a customer places an order online and looks up the status - correct answers operational data store (ODS) ______ _______________: - A type of database designed as a repository for all customer, prospect, product/service, and related marketing information - When __ __ becomes big and slow, data marts are created - correct answers data warehouse (DW) ____ ______: - Subsets of data warehouse - Designed to work efficiently with specific software for a business function (e.g., campaign management, accounting) - Integrated with one or more ODSs and data marts - Newer technologies (e.g., Snowflake) introduce cloud products that eliminates the need for data marts - correct answers data marts (DM) _____ is a type of database for quick read/write access on demand. - correct answers ODS ______ is a type of database that contains all relevant customer and prospect information over an extended period of time. - correct answers DW ______ is a type of database that is a subset of data warehouse and is usually designed for a specific business function. - correct answersDM __________ _____ ________ is a diagram that defines the entities to be defined in a database. - correct answerslogical data model (LDM) ______________ marketing: - companies are integrating their marketing strategy both throughout their org and with their value chain partners - channel enhancement, service and quality management, inventory/production control, distribution, etc. - optimal marketing efforts with dynamic LTV measurement - increasing ability to change consumer behavior - correct answers integrated what are the three major CRM components of integrated marketing? - correct answerscollaborative, analytical, operational (CAO) component of integrated marketing that includes website, social media, phone, text messaging, email, postal, fax, P.O.S, face to fact, IoT, and mobile - correct answerscollaborative component of integrated marketing that includes analytical methodologies (SPSS,SAS), data mining tools, campaign management, data warehouses, data marts - correct answersanalytical component of integrated marketing that includes order processing, MFG, finance, accounting, outsourced-partner - correct answersoperational delivery of computing services over the internet - correct answerscloud computing technology advantages of cloud computing - correct answersscalable, efficient, and reliable measurement of usage cloud provider manages software and hardware adoption considerations of cloud computing - correct answersbusiness operational disruption, decision on which type of cloud platform, privacy and security issues T or F: every organization needs a complex and expensive data integration environment. - correct answersfalse T or F: Organizations should build CRM technical environments based on:the amount/frequency of data, human/financial resources, CRM strategic objectives - correct answerstrue T or F: Creating an efficient and dynamic marketing and technology environment within respective financial constraints is very difficult in today's enterprise. - correct answerstrue T or F: The organizations that can continuously balance the marketing and business needs with the appropriate financial and technology resources have a good chance of creating a competitive CRM environment. - correct answerstrue uses electronic tags and labels to identify objects wirelessly over short distances - correct answersRadio Frequency Identification (RFID) a very short-range wireless connectivity technology designed for cell phones and credit cards - correct answersNear Field Communication (NFC) Internet of Things (IoT) - correct answersa world where interconnected, Internet-enabled devices or "things" can collect and share data without human intervention the use of scientific knowledge or processes relating to phones or computers used while travelling from place to place, without being connected by wires - correct answersmobile technology the customer-company profit chain - correct answers service quality & other controllable marketing variables --> customer satisfaction (transaction-specific & cumulative) --> customer retention & loyalty --> company profitability (CLV) --> company value *** the consumer's response to and evaluation of the perceived discrepancy between prior expectations (or some other norm of performance) and the actual performance of the product as perceived after its consumption. *** - correct answers customer satisfaction Satisfied customers may not be loyal customers. But research shows a ___________ relationship between satisfaction and profitability. - correct answers positive an evaluation based on the total purchase and consumption experience with a good or service over time →more useful in determining the effectiveness of customer retention efforts - correct answers overall (cumulative) satisfaction an immediate post-purchase evaluation →more useful in determining the effectiveness of training or other quality improvement efforts - correct answers transaction-specific satisfaction It is possible that a customer may experience _____ transaction-specific satisfaction but still have _____ cumulative satisfaction with a company - correct answers low; high Dissatisfied customers share their bad experiences more often than satisfied customers share their positive experiences →______________ impact! - correct answers asymmetric a customer's attachment to a brand, store, manufacturer, service provider, or other entity based on favorable attitudes and behavioral responses such as repeat purchase. - correct answers loyalty ____________ loyalty (purchase) - correct answers behavioral _______ loyalty (strong feelings + purchase) - correct answers affect ___________ - _________ loyalty (promotion, sale, availability, etc.) - correct answers situation-specific __________ loyalty (strong feelings but no purchase) - correct answers latent strong affect, strong repeat purchase - correct answers true loyalty (undivided or divided) strong affect, weak repeat purchase - correct answers latent loyalty weak affect, strong repeat purchase - correct answers spurious loyalty (inertial loyalty) weak affect, weak repeat purchase - correct answers no loyalty database and data warehouse providers examples - correct answersIBM, oracle, SAP, microsoft, Amazon CRM services providers examples - correct answers salesforce, Hubspot, IBM, accenture, Deloitte, capgemini, Infosys sales-force automation (SFA) providers examples - correct answers salesforce, microsoft, Oracle, SAP social media technology providers examples - correct answers microsoft (digital marketing center), IBM, salesforce cloud-based technology providers examples - correct answers AWS, microsoft, google, Vmware internet of things (IoT) providers examples - correct answers microsoft, oracle, SAP, IBM, HP, AT&T The key constructs in the __________-________ profit chain include service quality, customer satisfaction, retention, loyalty, profitability, and company value. - correct answers customer-company Customer satisfaction is one's response to the perceived difference between prior expectations and the actual performance. →______________ confirmation/disconfirmation - correct answersexpectancy Dissatisfied customers share their bad experiences ______ often than satisfied customers share their positive experiences. →asymmetric impact - correct answersmore Customer complaints are ______ for the company only if it's handled efficiently and effectively. - correct answersgood Customer ___________ is one's attachment to the brand/store or other entity based on favorable attitudes and long-term behavior such as repurchase. →multiple types - correct answersloyalty