CRM PRACTICE EXAM WITH ALL CORRECT & 100%
VERIFIED ANSWERS|ACTUAL COMPLETE EXAM|
ALREADY GRADED A+
The goal of CRM is to _____________________ ✔Correct Answer-optimize the current and future
value of customers
The concept of CRM enables organizations to ______________________ ✔Correct Answer-
leverage databases and communication technologies to interact at the individual customer level
A factor influencing the shape of the satisfaction-retention curve is________________ ✔Correct
Answer-All of the above:
- aggressiveness of the competition
- degree of switching cost
- level of perceived risk
Which of the following observations can be made from the satisfaction-retention nonlinear
relationship? ✔Correct Answer-All of the above are correct:
- dissatisfaction has a greater impact on retention than satisfaction
- even if the level of satisfaction is high, retention is not guaranteed
- if customers are dissatisfied, other products become more enticing
- the link is nonlinear in that the impact of satisfaction on retention is greater at the extremes
Taking customer satisfaction as a proxy measure for customer loyalty or for customer profits is a
___________________ ✔Correct Answer-viable solution
The key components of CRM from a business strategy perspective do NOT include
________________ ✔Correct Answer-focusing on extracting maximum profit from a single
transaction
Strategic CRM is primarily driven by technological solutions ✔Correct Answer-FALSE
Which of these is/are true about the traditional mass-marketing approach: ✔Correct Answer-A
and C:
- in traditional marketing, standardized products were designed and delivered to meet the needs of
customer segments
- traditional marketing was product focused
A change in customers' buying behavior can be measured in: ✔Correct Answer-All of the above:
- price sensitivity
- lifetime duration
- share of wallet
- retention
The customer activity measures do NOT comprise ___________________ ✔Correct Answer-share
of category requirement
VERIFIED ANSWERS|ACTUAL COMPLETE EXAM|
ALREADY GRADED A+
The goal of CRM is to _____________________ ✔Correct Answer-optimize the current and future
value of customers
The concept of CRM enables organizations to ______________________ ✔Correct Answer-
leverage databases and communication technologies to interact at the individual customer level
A factor influencing the shape of the satisfaction-retention curve is________________ ✔Correct
Answer-All of the above:
- aggressiveness of the competition
- degree of switching cost
- level of perceived risk
Which of the following observations can be made from the satisfaction-retention nonlinear
relationship? ✔Correct Answer-All of the above are correct:
- dissatisfaction has a greater impact on retention than satisfaction
- even if the level of satisfaction is high, retention is not guaranteed
- if customers are dissatisfied, other products become more enticing
- the link is nonlinear in that the impact of satisfaction on retention is greater at the extremes
Taking customer satisfaction as a proxy measure for customer loyalty or for customer profits is a
___________________ ✔Correct Answer-viable solution
The key components of CRM from a business strategy perspective do NOT include
________________ ✔Correct Answer-focusing on extracting maximum profit from a single
transaction
Strategic CRM is primarily driven by technological solutions ✔Correct Answer-FALSE
Which of these is/are true about the traditional mass-marketing approach: ✔Correct Answer-A
and C:
- in traditional marketing, standardized products were designed and delivered to meet the needs of
customer segments
- traditional marketing was product focused
A change in customers' buying behavior can be measured in: ✔Correct Answer-All of the above:
- price sensitivity
- lifetime duration
- share of wallet
- retention
The customer activity measures do NOT comprise ___________________ ✔Correct Answer-share
of category requirement
