8 Key
1.
(p. 309)
CRM systems store customer account data in multiple specialized databases and then make it
available throughout a company via Internet, intranet, or other network links.
2.
(p. 312)
CRM gives sales representatives lagged, but recent, access to a customer’s account status
and history before scheduling sales calls.
3.
(p. 312)
Call center software helps customer service reps assist customers who are having problems
with a product or service by providing relevant service data and suggestions.
4.
(p. 312)
It costs twice as much to sell to a new customer than it does to sell to an existing one.
5.
(p. 312)
A company can boost its profits 85 percent by increasing its annual customer retention by only
5 percent.
6.
(p. 313)
The majority of complaining customers will do business with a company again if it quickly
takes care of the problem.
7.
(p. 315)
CRM can keep track of when a customer contacts a company, if the customer uses a previous
contact point.
8.
(p. 314–
315)
The three steps in the customer life cycle are acquire, balance, and retain.
9.
(p. 316)
Industry research groups report that most CRM projects produce the promised results.
10.
(p. 317)
CRM software is difficult to install because it often touches many different legacy systems.
11.
(p. 320)
ERP systems support many vital human resource processes, from personnel requirements
planning to salary and benefits administration.
12.
(p. 320)
ERP software suites typically consist of integrated modules of manufacturing, distribution,
sales, inventory, and human resource applications.
13.
(p. 325)
Losses from a failed ERP implementation can run into the hundreds of millions of dollars.
14.
(p. 326)
In many cases, ERP failures are due to over-reliance on the claims of ERP software vendors.
15.
(p. 327)
The growth of the Internet and corporate intranets and extranets prompted software
companies to build Web interfaces and networking capabilities into ERP systems.
16.
(p. 327)
Four important trends are shaping the continuing evolution of ERP: improvements in
integration and flexibility, extensions to e-business applications, a broader reach to new users,
and the adoption of Internet technologies.
17.
(p. 328)
Some e-business suites disassemble ERP components and integrate them into other
modules, while other products keep ERP as a distinct module in the software suite.
18.
(p. 329)
According to the textbook case, fragmented internal systems are highly unusual in a company
that experiences rapid growth.
19.
(p. 330)
Many companies today are turning to Internet technologies to Web-enable their supply chain
processes, decision making, and information flows.
20.
(p. 334)
EDI software typically converts a company’s own document formats into standardized EDI
formats.
21.
(p. 334)
EDI automatically tracks inventory changes; triggers orders, invoices, and other documents
related to transactions; and schedules and confirms delivery and payment.
22.
(p. 335)
According to the textbook case, InfoEDI’s forms-based interface lets businesses connect to
InfoEDI via modems and Web browsers.
23.
(p. 339–
340)
Nike’s failed SCM implementation cost the firm over $100 million in lost sales, depressed stock
prices, and caused class action lawsuits.
24.
(p. 341–
342)
Every supply chain application installation requires a hefty up-front investment.
25.
(p. 309)
Managing the full range of the customer relationship involves two related objectives: (1)
providing the organization and all customer-facing employees with a single, complete view of
every customer at every touch and across all channels, and (2) providing
_________________________.
26.
(p. 309)
_______________ systems store customer account data in common databases and then
make it available throughout a company via Internet, intranet, or other network links.
27.
(p. 309)
CRM systems store customer account data in common databases and then make it available
throughout a company via all the following, except: Internet, intranet, or other network links.
28.
(p. 309)
CRM software uses information technology to create an enterprisewide system that integrates
and automates many of the _______________ processes with which customers interact.
29.
(p. 309)
Siebel Systems, Oracle, PeopleSoft, SAP AG, and Epiphany are some of the leading vendors
of __________ software.
30.
(p. 309)
A CRM system provides sales reps with the software tools and company data sources they
need to _______________.
31.
(p. 312)
CRM systems help marketing professionals do all of the following except:
32.
(p. 312)
CRM systems help fulfill prospect and customer responses and requests by doing all of the
following except:
33.
(p. 312)
It costs _______________ to sell to a new customer than it does to sell to an existing one.
34.
(p. 312)
A typical dissatisfied customer will tell _______________ about his or her experience.
35.
(p. 312)
A company can boost its profits _______________ by increasing its annual customer retention
by only _______________.
36.
(p. 312)
The odds of selling a product to a new customer are _______________, whereas the odds of
selling a product to an existing customer are _______________.
37.
(p. 312)
If a company takes care of a service problem quickly, _______________ of complaining
customers will do business with the company again.
38.
(p. 313)
CRM systems help a company identify, reward, and market to their most loyal and profitable
customers through:
39.
(p. 314–
315)
A CRM system should support the organization in which phase of the relationship between a
business and its customers?
40.
(p. 314–
315)
A CRM system includes all the following phases, except:
41.
(p. 314)
The goal of the _______________ phase of a customer relationship is to help customers
perceive the value of a superior product offered by an outstanding company.
42.
(p. 315)
In the _______________ phase of a customer relationship, a business relies on CRM
software tools and databases to proactively identify and reward its most loyal and profitable
customers via targeted marketing programs.
43.
(p. 315)
In the _______________ phase of a customer relationship, CRM account management and
customer service and support tools help keep customers happy by supporting superior service
from a responsive networked team of sales and service specialists and business partners.
44.
(p. 315)
Research shows that the major reason for CRM failure is:
45.
(p. 315)
According to the text, common wisdom holds which of the following as a reason for CRM
failure?
46.
(p. 315)
According to the text, common wisdom holds all of the following as reasons for CRM failure,
except:
47.
(p. 317)
Increasingly, businesses are moving to _______________ CRM systems, to involve business
partners as well as customers in collaborative customer services.
48.
(p. 318)
All of the following are examples of the business value of operational CRM except:
49.
(p. 318)
Which of the following is an example of the business value of collaborative CRM?
50.
(p. 318)
A(n) _______________ CRM provides all users with the tools and information they need to fit
their individual roles and preferences.
51.
(p. 320)
Enterprise resource planning is recognized as a necessary ingredient that many companies
need in order to:
52.
(p. 320)
_______________ is the technological backbone of e-business, an enterprise-wide
transaction framework with links into sales order processing, inventory management and
control, production and distribution planning, and finance.
53.
(p. 320)
Enterprise resource planning software for a manufacturing company will typically process data
from _______________.
54.
(p. 324)
According to the textbook case, it took Colgate U.S. anywhere from one to five days to acquire
an order and another one to two days to process the order. After ERP, order acquisition and
processing combined takes _______________.
55.
(p. 324)
ERP creates a framework for integrating and improving a company’s internal business
processes that results in significant improvements in the quality and efficiency of:
56.
(p. 324)
ERP systems can provide vital cross-functional information on business performance to
managers in a very timely manner. This describes the key business benefit of:
57.
(p. 325)
Of the typical costs associated with implementing a new ERP system, _______________ is
the lowest.
58.
(p. 325)
Although the benefits of ERP are many, the costs and risks can be considerable. Which of the
following make up the bulk of the cost of implementing a new ERP system?