CRM and Relationship Knowledge Quiz

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Questions and Answers

According to the text, what are the attributes of successful relationships?

  • Effective communication
  • Trust and commitment (correct)
  • Mutual respect
  • Shared values and goals

What is the meaning and importance of customer lifetime value?

  • The total revenue a customer generates over their lifetime (correct)
  • The number of years a customer remains loyal
  • The cost of acquiring a new customer
  • The profit margin per customer

What are the five different schools of thought that contribute to our understanding of relationships and relationship management?

  • Behavioral school, Structural school, Strategic school, Humanistic school, Cognitive school (correct)
  • Functional school, Organizational school, Marketing school, Financial school, Legal school
  • Transactional school, Transformational school, Collaborative school, Analytical school, Ethical school
  • Psychological school, Sociological school, Economic school, Cultural school, Technological school

What is meant by an 'interactive episode' in a relationship?

<p>A time-bound and identifiable interaction between parties (D)</p> Signup and view all the answers

What does the 'R' in CRM stand for?

<p>Relationship (D)</p> Signup and view all the answers

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