Which of the following statements about the CRM cycle is true?
As the second step in the CRM cycle a company must:
Best Buy instituted a system in all of its stores that customizes their product offerings for the five keycustomer segments it has identified: affluent professional males, young entertainment enthusiasts,upscale suburban moms, families who are practical technology adopters, and small businesses withless than 20 employees.This focus implies that Best Buy is _____.
_____ refers to the latitude organizations bestow on their representatives to negotiate mutuallysatisfying commitments with customers.a.Consumer learningb.Customerizationc.Empowermentd.Autonomye.Interaction
_____ is the process by which learned information from customers is centralized and shared in order toenhance the relationship between customers and the organization.
When Sony Playstation users want to access amenities on the Sony web site, they are required to log inand supply information such as their name, e-mail address, and birth date. They are also given theopportunity to complete a survey that captures much more information about the person and theirgaming habits. Sony gathers this information and makes it available internally to better serve thecustomer. This is an example of a company using:
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120.All of the following are true about CRM except:a.Customers resent how companies use their informationb.CRM is a huge commitmentc.Marketers often have to completely rethink how they target customers.d.Loyalty programs use CRM to thank customers for their business and reinforce the decision to shopat that store.e.CRM makes purchase decisions more routine for regular customers, which offers time savings.ANS:ACompanies use CRM to make customer experience more pleasant, faster, and more personalized. As long as theinformation is not abused, customers generally appreciate the attention that CRM allows companies to give them.
121.All of the following have been identified as trends that will lead to the continuing growth of CRM EXCEPT:
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Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics
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CH 8122.The Ritz-Carlton hotel chain is renowned for its service and individual treatment of its customers. All servicestaff and employees have note pads and are taught to record every little piece of information they learn about acustomer. If a business traveler ordered soft pillows, only wanted martinis in his mini bar, and needed access to afax machine, he would find all of these amenities in his room when he arrived. The Ritz-Carlton is basing itsCRM on which of the following trends?
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123.Product positioning is the process of:
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124._____ is the development of a specific marketing mix to influence potential customers’ overall perception of abrand, product line, or organization in general and is related to the place a product occupies in consumers’ mindsrelative to competing offerings.a.Market differentiationb.Diversificationc.Combination marketingd.Positioninge.Market aggregationANS:DThis is the definition of positioning.
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Marketing, AACSB Reflective Thinking, CB E Model Strategy, Model Strategy MSC
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Spreadsheet Modeling & Decision Analysis: A Practical Introduction to Business Analytics
Ragsdale
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