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Customer Relationship Management Quiz

Test your knowledge of Chapter 1-6 in MKT4610 with this quiz on Customer Relationship Management. Explore the transition from the Industrial Age to the Information Age, focusing on customer-centric strategies and competitive advantages.

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@ClearedGyrolite1683
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Questions and Answers

Industrial Age focused on mass production and mass distribution, not on customers

True

Information Age uses interactive technologies like email, text message, and social media to understand a customer's needs

True

Customer Relationship Management (CRM) is solely focused on customer acquisition

False

The root of CRM is to grow the value of the customer base through enterprise-wide strategies

<p>True</p> Signup and view all the answers

CRM aims to improve customer retention and customer acquisition through meaningful analysis and communications

<p>True</p> Signup and view all the answers

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Study Notes

Era of Business Focus

  • The Industrial Age prioritized mass production and mass distribution, neglecting customer needs.

Information Age Characteristics

  • The Information Age utilizes interactive technologies, such as email, text messages, and social media, to comprehend customer needs.

Customer Relationship Management (CRM)

  • CRM is not solely focused on customer acquisition, but rather on growing the value of the customer base.
  • The core objective of CRM is to develop enterprise-wide strategies to enhance customer value.
  • CRM aims to improve customer retention and acquisition through:
    • Meaningful analysis
    • Effective communications

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