Podcast
Questions and Answers
The concept of CRM involves the use of customer feedback, documentation, and analysis.
The concept of CRM involves the use of customer feedback, documentation, and analysis.
True (A)
Customer relationship management is not a strategic process involving interactions to shape relations between the customer and working teams.
Customer relationship management is not a strategic process involving interactions to shape relations between the customer and working teams.
False (B)
The presentation does not aim to review the applications of CRM practices in the modern world.
The presentation does not aim to review the applications of CRM practices in the modern world.
False (B)
The concept of Customer Relationship Management (CRM) has remained unchanged over time.
The concept of Customer Relationship Management (CRM) has remained unchanged over time.
Changes in the population needs and diversification with time do not affect CRM.
Changes in the population needs and diversification with time do not affect CRM.
Managing customer is not critical in the conceptual understanding of CRM.
Managing customer is not critical in the conceptual understanding of CRM.
The value of the company is more important than customer value in CRM.
The value of the company is more important than customer value in CRM.
The use of IT has not influenced the development of CRM.
The use of IT has not influenced the development of CRM.
Benefits of customer value management approach do not include helping to create customer value.
Benefits of customer value management approach do not include helping to create customer value.
Sales growth is not a key aspect of CRM.
Sales growth is not a key aspect of CRM.
CRM practices do not contribute to sales growth.
CRM practices do not contribute to sales growth.
Customer feedback is not an important aspect of CRM.
Customer feedback is not an important aspect of CRM.
Individualization is not a factor that affects CRM.
Individualization is not a factor that affects CRM.
CRM only focuses on customer value and ignores company value.
CRM only focuses on customer value and ignores company value.
The evolution of CRM has remained stagnant since its inception.
The evolution of CRM has remained stagnant since its inception.
Relationship management is only focused on customer relationships and not company relationships.
Relationship management is only focused on customer relationships and not company relationships.
Strategic CRM elements include Vision and Data tech.
Strategic CRM elements include Vision and Data tech.
The use of positive tools has reduced value over time.
The use of positive tools has reduced value over time.
The relationship between the company and customer will be negative and pessimistic due to Strategic CRM.
The relationship between the company and customer will be negative and pessimistic due to Strategic CRM.
Strategic management steps include Gain enterprise and Define.
Strategic management steps include Gain enterprise and Define.
Build CRM does not include customer centricity.
Build CRM does not include customer centricity.
The implementation of Strategic CRM leads to a decline in company growth.
The implementation of Strategic CRM leads to a decline in company growth.
Strategic CRM provides more support to the manager but not to the customer.
Strategic CRM provides more support to the manager but not to the customer.
The role of the manager becomes less prominent and professional due to Strategic CRM.
The role of the manager becomes less prominent and professional due to Strategic CRM.
Study Notes
Concept of CRM
- CRM involves customer care, documentation, analysis, databases, customer loyalty, acquisition, and documentation.
- CRM is a strategic process that shapes the relationships between customers and working teams through interactions.
Introduction to CRM
- The concept of CRM has evolved over time due to changes in population needs and diversification.
- Factors contributing to this evolution include an aging population, increased diversity, and individualization.
Managing Customer Relationships
- Managing customers is critical in understanding CRM.
- Changes in customer needs, marketplaces, and market functions require effective customer relationship management.
Benefits of Customer Value Management
- Customer value management helps create and maintain positive relationships with customers.
- Techniques such as database marketing, ERP, and SFA support customer value management.
Evolution of CRM
- CRM has evolved through four generations: mainframe, database marketing, ERP and SFA, and cloud-based setup.
- Each generation built upon the previous one, adapting to changes in the IT industry.
CRM and IT Revolution
- The evolution of CRM is closely tied to the development of IT.
- Generational changes in CRM reflect the growth of the IT industry.
Customer and Company in CRM
- Customer value is essential in CRM and cannot be ignored.
- Customer and company are interlinked, and their relationships are critical in CRM.
Strategic CRM
- Strategic CRM involves a vision, culture, integration, data technology, and implementation.
- Strategic CRM elements include gaining enterprise support, building CRM, analyzing data, defining CRM, and empowering customers.
Benefits of Strategic CRM
- Strategic CRM leads to company growth and positive relationships between companies and customers.
- It provides more support to customers and facilitates tools for managers.
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Description
This quiz covers the basics of Customer Relationship Management, including its concept, importance, and role in marketing. It also explores the process of creating customer value and engagement.
