CRM Quiz

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Questions and Answers

Which of the following best describes customer relationship management (CRM)?

A strategy for maximizing total customer life-time value
A model for managing a company's interactions with current and future customers (correct)
A method for reducing customer complaints
A technology for organizing sales and marketing activities

What is the purpose of CRM?

To understand what it needs to do to get more customers
To reduce costs by managing complaints
To help a company figure out what services are useless for customers
To help a business keep customers (correct)

Which of the following is NOT a component of CRM?

Customer service
Sales
Marketing
Inventory management (correct)

What does CRM aim to do?

<p>Understand, predict, and manage the needs of current and potential customers (A)</p> Signup and view all the answers

How does CRM help a business?

<p>By reducing costs through complaint management (B)</p> Signup and view all the answers

Study Notes

Customer Relationship Management (CRM)

CRM is a business strategy that enables companies to manage and analyze customer interactions and data throughout the customer lifecycle.

Purpose of CRM

The primary purpose of CRM is to improve customer relationships, enhance customer satisfaction, and drive business growth.

Components of CRM

CRM typically consists of three main components: sales force automation, marketing automation, and customer service and support.
It does NOT include accounting and financial management.

Goals of CRM

CRM aims to provide a unified customer view, enhance customer experiences, and drive business growth through increased sales and revenue.

Benefits of CRM

CRM helps businesses by providing a centralized customer database, automating sales and marketing processes, and enabling data-driven decision-making.
It also helps businesses to identify new business opportunities, improve customer retention, and enhance customer loyalty.

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Description

Test your knowledge on CRM and learn about customer relationship management, a model for managing a company's interactions with customers. Explore the use of technology in organizing, automating, and synchronizing sales, marketing, customer service, and technical support.