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CRM Unit 1 PT 2

The document discusses key concepts in customer relationship management (CRM) including definitions of transactional marketing, relationship marketing, and mass marketing. It addresses how CRM helps with strategic planning, selecting customers based on lifetime value, and anticipating problems. The primary goal of CRM is to establish, develop, and maintain long-term relationships through marketing activities. CRM aims to maximize customer value and satisfaction over the customer lifecycle.

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Nihal Anshu
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637 views

CRM Unit 1 PT 2

The document discusses key concepts in customer relationship management (CRM) including definitions of transactional marketing, relationship marketing, and mass marketing. It addresses how CRM helps with strategic planning, selecting customers based on lifetime value, and anticipating problems. The primary goal of CRM is to establish, develop, and maintain long-term relationships through marketing activities. CRM aims to maximize customer value and satisfaction over the customer lifecycle.

Uploaded by

Nihal Anshu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

Transactional marketing is also referred to as ______________


a) Direct marketing
b) Mass marketing
c) Indirect Marketing
d) Relationship Marketing
Ans. B
2. _____________ focuses on continuous multiple transactions.
a) Relationship marketing
b) Transactional marketing
c) Mass Marketing
d) Direct Marketing
Ans. A

3. Relationship marketing is the practice of using marketing activities to ____________


a) To establish Long term relationships
b) To develop long term relationships
c) To maintain long term relationships
d) All the above
Ans. D

4. CRM helps in ____________


a) Goal setting
b) Achieving Targets
c) Strategic Planning
d) None of the above
Ans. C

5. Which of the following is not included under mass marketing ____________


a) Discrete transactions
b) Share of market
c) Product differentiation
d) Retention focus
Ans. D

6. CRM helps with selecting customers based on ____________


a) Lifetime value
b) Follow up
c) Customer interest
d) Customization
Ans. A
7. The primary goal of crm is to _____________
a) To provide updated information
b) To customize strategy
c) To anticipate the problems
d) All the above
Ans. D

8. _____________ has numerous implications for market planning and employee training.
a) Direct marketing
b) Mass marketing
c) Indirect Marketing
d) Relationship Marketing
Ans. D

9. The main drawback of CRM is ___________


a) Implementing CRM before creating a customer strategy
b) Rolling out CRM before changing the organization to match
c) Stocking
d) All the above
Ans. D

10. CRM is a business philosophy which aims at maximizing _______________ in the


longrun.
a) Customer value
b) Customer database
c) Customer lifecycle
d) Customer satisfaction

Ans. A

11. A successful CRM increases production and profit throughout the ____________
a) Customer value
b) Customer database
c) Customer lifecycle
d) Customer satisfaction

Ans. C

12. The main goal of ____________ is to enable two –way continuous interactivity between
the customer and the company .
a) Direct marketing
b) Mass marketing
c) Indirect Marketing
d) Relationship Marketing

Ans. D

13. Transactional marketing focuses on ____________


a) Individual transaction
b) Group transaction
c) Both a & b
d) None of the above
Ans. A

14. Characteristics of CRM ____________


a) Share of customer
b) Customer equity
c) Use of technology
d) All the above
Ans. D

15. Understanding what motivates customer is __________


a) Significance of CRM
b) Key principles of CRM
c) Characteristics of CRM
d) None of the above
Ans. B

16. Goals of CRM consists of _____________


a) To provide updated information
b) To customize strategy
c) To anticipate the problems
d) All the above
Ans. D

17. _______________ is a core customer centric business strategy aims at winning and
keeping profitable customers.
a) Strategic CRM
b) Strategic Planning
c) Both a & b
d) None of the above
Ans. A

18. Limitations of CRM includes __________


a) Confusion in attributes
b) Requires top management support
c) Frontline staff
d) All the above
Ans. A

19. CRM is a database marketing.


a) True
b) False

Ans. B

20. CRM can be implemented by any company.


a) True
b) False

Ans. B

21. Why companies want relationships with customers ___________


a) Reduce marketing costs
b) Better customer insight
c) Lifetime value.
d) All the above
Ans. D

22. Mass marketing is a Two-way communication process.


a) False
b) True

Ans. A

23. The goal of maintaining customer database is to _____________


a) Retain existing customer
b) Recruit new customers.
c) Both A & B
d) None of the above

Ans. C

24. Transition from traditional marketing to relationship marketing consists of ________


a) Customer retention
b) Customer acquisition
c) Both a & b
d) None of the above.

Ans. C

25. CRM helps with


a) Increased customer satisfaction
b) Decreased customer satisfaction
c) Decreased sales revenue
d) None of the above

Ans. A

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