[Q.1] Which is not a parameter used to measure customer lifetime value in CRM applications?
(a) Recency (b) Frequency (c) Net worth (d) Monetization
Ans: (c) Net worth
[Q.2] There are different techniques to both initiate and build relationships with customers by using a combination of online and offline techniques. What is the 'customer life cycle' though?
(a) Techniques to encourage customers to increase their involvement with an organization
(b) The stages each customer will go through in a long-term relationship with a supplier
(c) An approach to building and sustaining long-term business with a customer
(d) It is a cyclical process to manipulate customers to purchase goods / services repeatedly
Ans: (b) The stages each customer will go through in a long-term relationship with a supplier
[Q.3] The four marketing activities within the customer relationship management include customer selection, customer acquisition, customer retention, plus:
(a) Customer cross-sell (b) Customer extension
(c) Customer Up-sell (d) Customer referrals
(e) Customer re-sell
Ans: (b) Customer extension
[Q.4] Using the Internet for relationship marketing involves integrating the customer database with websites to make the relationship targeted and personalized. Through doing this there are many benefits to be gained but which of the below is not an advantage?
(a) Targeting more effectively
(b) Lower costs
(c) Achieve mass customization of the marketing messages
(d) Minimizes breadth, depth and nature of relationship
Ans: (d) Minimizes breadth, depth and nature of relationship
[Q.5] Which module is not part of the CRM ecosystem/ architecture?
a) Operational b) Collaborative c) Analytical d) Strategic
Ans: (d) Strategic