1
What is gamification, and what are the benefits associated with it?
Answer:
Feedback:
Gamification is approaching other tasks and turning them into a videogame-like platform. It
is becoming popular all across the fields of education and training. It is useful because it
can enhance training and can also enhance the buyer-seller relationship by presenting
product simulations, allowing the buyer to test the product before purchase.
2
Skype and WebEx are examples of:
(A)
Mapping tools
(B)
Social media
(C)
Management tools
(D)
Communication tools
Answer:
(D)
3
The making, usage, and knowledge of tools, techniques, crafts, systems, or methods of
organization to solve a problem or serve some purpose is:
(A)
Intangibility
(B)
Technology is only accepted by the salesperson if they like it
(C)
CRM
(D)
Space variance
Answer:
(B)
Technology is only accepted by the salesperson if they like it
4
Answers to key CRM questions guide all of the following except:
(A)
The evolution of a company’s relationship with customers
(B)
Creation of a companywide management game plan
(C)
The selection of solutions with the most appropriate combination and application of supporting
technology
(D)
All of the above
Answer:
(D)
All of the above
5
Which of the following is NOT associated with knowledge discovery:
(A)
Call center files
(B)
Contacting customers directly
(C)
Data warehouse
(D)
Data mining
Answer:
(B)
Contacting customers directly
6
The concept of a customer’s lifetime value is important to companies because:
(A)
It lets the company know how many products they have sold over time
(B)
It forces the company to invest money into things they don’t need
(C)
It helps decide what customers need and what amount of resources allocated to them
(D)
All of the above
Answer:
(C)
It helps decide what customers need and what amount of resources allocated to them
7
Which of the following is an advantage CRM has over traditional mass marketing:
(A)
Makes it easier to target specific customers by focusing on their needs
(B)
Creates a better way in which to fire the customer
(C)
Allows the customer to be tracked
(D)
All of the above
Answer:
(A)
Makes it easier to target specific customers by focusing on their needs
8
Which of the following are goals of CRM?
(A)
To build relationships with customers
(B)
To focus on attributes of the company that represent value to the customer
(C)
To build customer loyalty
(D)
All of the above
Answer:
(D)
All of the above
9
Acquisition of the right customers, based on known or learned characteristics which drive
growth and increase margins is known as:
(A)
Customer profitability
(B)
Customer buy-in
(C)
Customer loyalty
(D)
Customer profitability
Answer:
(A)
Customer profitability
(D)
Customer profitability
10
Serena’s company has CRM, but can’t seem to keep customers coming back. Serena’s
company is likely missing which aspect of CRM?
(A)
Product quality
(B)
Customer acquisition
(C)
Customer profitability
(D)
Customer retention
Answer:
(D)
Customer retention
11
Ashley has about a dozen highly profitable customers in her sales territory, but her
marketing department is not efficient in communicating value to customers. One strategy
she should consider is increasing utilizing ____________ for those customers.
(A)
Targeted marketing
(B)
Customer marketing
(C)
Mass marketing
(D)
One–to-one marketing
Answer:
(A)
Targeted marketing
12
Kendall is a fashion director at a magazine company. Lately, Kendall has noticed that
customers are not buying as many clothes featured in ads as they have previously. Kendall
needs to figure out a way to get reader feedback. Kendall may want to utilize:
(A)
Company researchers
(B)
Sales calls
(C)
Data mining
(D)
Touchpoints
Answer:
(D)
Touchpoints
13
Hunter senses a disconnect between the firm’s culture and their market-oriented policies.
Hunter’s firm needs:
(A)
Customer relationship management
(B)
A learning seminar
(C)
Formalization
(D)
Target marketing
Answer:
(C)
Formalization
14
If your boss says, “Our ad strategy is to send email blasts to everyone in our local area,”
what is he or she referring to?
(A)
Mass marketing
(B)
Target marketing
(C)
Customer marketing
(D)
Mail spamming
Answer:
(A)
Mass marketing
15
A long standing customer has decided that the monetary value they pay for a good or
service is no longer worth it; they are not benefitting any longer by buying the product.
Thus, the_____ has diminished.
(A)
Customer value
(B)
Customer benefits
(C)
Customer tangibility
(D)
Customer loyalty
Answer:
(A)
Customer value
16
Which of the following are reasons for employees to resist CRM technology:
(A)
Generational gap
(B)
Lack of training
(C)
Desire to keep things status quo
(D)
All of the above
Answer:
(D)
All of the above
17
Why is target marketing more effective than mass marketing?
Answer:
Feedback:
Target marketing is more effective than mass marketing because it targets specific market
segments allowing for more effective marketing than a mass marketing scheme that
targets a broad general audience. The specialization that comes with target marketing
increases the odds that the sales campaign will be successful towards the target market
versus all markets within a general area.
18
Give examples of communication tools, and explain how they are useful in boosting sales
for a salesperson.
Answer:
Feedback:
WebEx and Skype are communication tools that enhance sales. They do this by allowing
the seller to reach and communicate with a wider variety of potential customers. They also
allow salespeople to make sales calls while simultaneously showcasing a presentation
during the call. This enhances the customer view of the product, and allows the potential
for a customer to buy from the salesperson to increase.
19
Name the four stages of the CRM Process Cycle.
Answer:
Feedback:
Knowledge discovery, market planning, customer interaction, and analysis and refinement
20
Explain the definition of technology, and give an example of a piece of technology.
Answer:
Feedback:
Technology is the making, usage and knowledge of tools, techniques, crafts, systems, or
methods of organization in order to solve a problem or serve some purpose. An example of
technology can be something as basic as a spoon, or something as complex as a laptop
computer.
21
Explain why the knowledge discovery stage of effective CRM can cause ethical difficulties.
How can these difficulties be prevented?
Answer:
Feedback:
The knowledge discovery stage provides touchy issues with ethics because employees are
able to access personal customer information that can potentially lead to fraud, or to them
selling the information to competitors. Proper training, ethical workshops, and an ethical
corporate culture can all prevent ethical missteps by employees.
22
Name several advantages to CRM, and give examples of them.
Answer:
Feedback:
The main advantages of CRM are as follows: reduces advertising costs, makes it easier to
target specific customers by focusing on their needs, makes it easier to track the
effectiveness of a given promotional (marketing communications) campaign, allows
organizations to compete for customers based on service, not prices, prevents
overspending on low value clients on underspending on high ones, speeds the time it takes
to develop and market a product(the marketing cycle), and improves use of customer
channel, thus making the most of each contact with a customer.
23
What are the main goals of CRM?
Answer:
Feedback:
The main goals of CRM include customer retention, customer acquisition, and customer
profitability.
24
How can a salesperson increase customer value?
Answer:
Feedback:
The value of the customer offering can be increased by: raising benefits, reducing costs,
raising benefits and reducing costs, raising benefits more than the increase in costs, and
lowering benefits by less than the reduction in costs.
25
Name the four elements involved in a company’s marketing mix.
Answer:
Feedback:
The four elements are product, price, distribution, and promotion.
26
Personal selling fits into a company’s:
(A)
CRM initiatives
(B)
Management productivity
(C)
Market communications mix
(D)
Technology
Answer:
(C)
Market communications mix
27
Access to databases by the sales force can create problems concerning:
(A)
Ethics
(B)
Company security
(C)
Job security
(D)
Both A and B
Answer:
(D)
Both A and B
28
Combining another term with “technology” refers to the:
(A)
Type of technology that exists
(B)
State of the respective field’s knowledge and tools
(C)
The perceived value of technology
(D)
The technological environment at hand
Answer:
(B)
State of the respective field’s knowledge and tools
29
______________ is the customer weighing the costs and benefits of a relationship with a
seller; the benefits outweigh the costs.
(A)
Customer value
(B)
Customer purchasing
(C)
Customer arithmetic
(D)
All of the above
Answer:
(A)
Customer value
30
The present decade represents a______ in selling.
(A)
Stronghold
(B)
Technological change
(C)
Revolution
(D)
War
Answer:
(C)
Revolution
31
Which of the following is part of the definition of the technology acceptance model?
(A)
Salesperson is more likely to use technology the easier it is
(B)
Technology is only accepted by the salesperson if they like it
(C)
Technology must be fun if the salesperson is to use it
(D)
Salespersons born after the 1970s will not use technology unless bribed with a bonus
Answer:
(A)
Salesperson is more likely to use technology the easier it is
32
Gaming, a CRM technology, is useful for all of the following reasons EXCEPT:
(A)
Helps make salespeople more engaging
(B)
Allows the customer to experience services or products before buying them
(C)
Separates the sales process from other competitors
(D)
Enhances the customer experience by having them play video games
Answer:
(D)
Enhances the customer experience by having them play video games
33
The following are examples of touchpoints for a customer:
(A)
Feedback forms
(B)
Sales calls
(C)
Website
(D)
All of the above
Answer:
(D)
All of the above
34
Aligning the structure, processes, tools, managerial knowledge, and managerial
commitment with the company’s culture is called:
(A)
Employee alignment
(B)
Cultural orientation
(C)
Formalization
(D)
Integrated corporate philosophy
Answer:
(C)
Formalization
35
Jenna’s customers have recently been complaining about the products she has sold them,
but she is unsure exactly why. Jenna wants to gather data in order to hone in on the
customer needs. This is an example of:
(A)
Marketing orientation
(B)
The marketing mix
(C)
Customer relationship management
(D)
Data mining
Answer:
(A)
Marketing orientation
36
Which of the following is an element of the marketing mix?
(A)
Value
(B)
Advertising
(C)
Blended marketing
(D)
Promotion
Answer:
(D)
Promotion
37
When benefits realized by a customer are less than the cost of the relationship with the
seller, the customer value is high.
(A)
True
(B)
False
Answer:
(B)
False
38
A firm must be market oriented in order to be profitable.
(A)
True
(B)
False
Answer:
(B)
False
39
New technology is sometimes resisted by employees.
(A)
True
(B)
False
Answer:
(A)
True
40
A company should never fire a customer.
(A)
True
(B)
False
Answer:
(B)
False
41
When identifying value-added services, a company should look inward and rely on a
thorough evaluation of internal processes.
(A)
True
(B)
False
Answer:
(B)
False
42
The lifetime value of a customer is the sum of the estimated stream of future profits.
(A)
True
(B)
False
Answer:
(B)
False
43
Firing a customer is bad for business, and decreases profitability
(A)
True
(B)
False
Answer:
(B)
False
44
Getting customers to commit to your products in the long run is customer loyalty.
(A)
True
(B)
False
Answer:
(A)
True
45
CRM data warehouses can sometimes cause problems with employee ethics.
(A)
True
(B)
False
Answer:
(A)
True
46
Ariana is the marketing manager for a clothing company. Ariana has decided that she needs
to garner higher revenue from the 20–24 female age group throughout all stores company
wide. Ariana needs a_______ strategy.
(A)
Mass marketing
(B)
One–on-one marketing
(C)
Customer marketing
(D)
Target marketing
Answer:
(D)
Target marketing
47
All of the following are objectives of CRM EXCEPT:
(A)
Customer retention
(B)
Customer acquisition
(C)
Customer numbers
(D)
Customer profitability
Answer:
(C)
Customer numbers
48
_____focuses on developing relationships with customers.
(A)
Mass marketing
(B)
Target marketing
(C)
One–on-one marketing
(D)
Customer marketing
Answer:
(D)
Customer marketing
49
A customer-centric culture includes:
(A)
Adopting a partnership business model
(B)
Investing money into customer service
(C)
Defining the selling role in terms of increasing revenue rapidly
(D)
Selling the customer more than what they initially asked for
Answer:
(A)
Adopting a partnership business model
50
Doug is a new salesperson for an IT company. He noticed recently that his boss seems to
be short a few salespeople. Doug could use utilize which piece of technology to help his
boss:
(A)
Social media sites
(B)
Time management tools
(C)
Recruiting sites
(D)
Communication tools
Answer:
(C)
Recruiting sites
51
Time management tools allow salespeople to do all of the following EXCEPT:
(A)
Track customer schedules
(B)
Make “”to-do”” lists
(C)
Create more efficiency in time usage throughout the day
(D)
Track appointments and daily schedules
Answer:
(A)
Track customer schedules
52
To a customer, _____ is a touchpoint that links them to the company.
(A)
Facebook
(B)
Social media
(C)
Website feedback
(D)
All of the above
Answer:
(D)
All of the above
53
Lisa is the branch manager of a sewage cleaning company. Recently, Lisa has encountered
some issues with sewage cleaning techniques and would like to ask her employees, who
are scattered throughout the Southwest, advice on how to handle the problem. Lisa should
utilize which kind of technology?
(A)
Communication tools
(B)
Social media
(C)
Presentation tools
(D)
Mapping software
Answer:
(A)
Communication tools
54
Technology:
(A)
Is bad
(B)
Changes how human beings control and adapt to their environments
(C)
Is stagnant and will never change
(D)
All of the above
Answer:
(B)
Changes how human beings control and adapt to their environments
55
The three categories that pertain to crucial CRM questions include:
(A)
Customers, management, and managerial decision making
(B)
Customers, managers, and employees
(C)
Customers, the relationship, and managerial decision making
(D)
Customers, sales, and product mix
Answer:
(C)
Customers, the relationship, and managerial decision making
56
___________ is something that can be maximized via the CRM Process Cycle.
(A)
Customer relationships
(B)
Return on customer investment
(C)
Customer data
(D)
None of the above
Answer:
(B)
Return on customer investment
57
Market planning is only effective if:
(A)
Knowledge discovery is accurate
(B)
Companies have at least four customer databases
(C)
Neither
(D)
Both A and B
Answer:
(A)
Knowledge discovery is accurate
58
A data warehouse:
(A)
Aids in knowledge discovery
(B)
Can include point of sale systems
(C)
Neither
(D)
Both A and B
Answer:
(D)
Both A and B
59
Johnny is a service employee at a utility company. Recently, a customer with a small
account has been pestering Johnny each day for service, resulting in a lack of time given to
other, more profitable customers. Johnny’s manager suggests minimizing how much time is
spent on this customer, and slowly weaning him off service calls. Johnny is:
(A)
Being unethical
(B)
Minimizing customer investment
(C)
Firing the customer
(D)
Utilizing CRM timetables
Answer:
(C)
Firing the customer
60
CRM has the following effects on a company:
(A)
Reduces advertising costs
(B)
Improves the use of the customer channel
(C)
Helps make it easier to target specific customers
(D)
All of the above
Answer:
(D)
All of the above
61
Sometimes the use of old technology in sales is more effective than new technology.
(A)
True
(B)
False
Answer:
(A)
True