25 Questions
What is the main purpose of Analytical CRM Systems?
Analyzing customer behavior and perceptions
Which type of CRM system provides the source code for its software at no cost?
Open-source CRM
How is On-demand CRM typically accessed?
Via cloud computing or SaaS
What is a key advantage of using Mobile CRM?
Conducting communications through mobile devices
Why do some open-source CRM providers offer limited free solutions up to a certain number of users?
To encourage organizations to purchase additional seats
What is a primary reason why open-source CRM systems did not gain significant market share?
Complexity in installation and maintenance for organizations
What type of business capital is not typically seen in financial statements?
Intellectual Capital
What is the primary goal of Customer Relationship Management (CRM)?
Develop highly individualized offers
What do collaborative CRM systems primarily aim to achieve?
Provide effective communication with customers
What is the main purpose of customer-facing applications in Operational CRM systems?
Interact directly with customers
What is the key function of Marketing Systems in Operational CRM?
Identify and target best customers
What is the purpose of Loyalty Programs according to the text?
Predict and influence future behavior
What is the main challenge associated with open-source CRM systems?
They lack reliable updates and require significant IT expertise for integration.
What is the primary purpose of Social CRM?
To understand customer sentiment and engage in collaborative conversations.
Which of the following is NOT a key benefit of Operational CRM systems?
Improving supply chain visibility and supplier management.
What is a common reason for CRM implementation failures?
Frontline employees are not consulted during the implementation process.
What is the purpose of supply chain visibility?
To track the flow of materials and information from suppliers to end customers.
Which of the following best describes the tiers of suppliers in a supply chain?
Tier 1 suppliers produce basic products, Tier 2 suppliers use these inputs to make integrated components, and Tier 3 suppliers produce subassemblies.
What is the primary function of Supply Chain Management (SCM) systems?
To facilitate information sharing along the supply chain
Which of the following is a benefit of Electronic Data Interchange (EDI)?
Minimizes data entry errors and paper usage
What is the primary purpose of Extranets in Supply Chain Management?
To allow external business partners to access data and collaborate securely
Which of the following is an example of a reverse flow in the supply chain?
Returned products for recycling
What is the main advantage of Vendor-Managed Inventory (VMI) in Supply Chain Management?
Reduced inventory carrying costs for the retailer
Which of the following is a key difference between Customer Relationship Management (CRM) systems and Supply Chain Management (SCM) systems, from a systems theory perspective?
CRM systems handle output, while SCM systems handle input
What is the primary advantage of using Electronic Data Interchange (EDI) over traditional paper-based document exchange?
Faster processing and reduced cycle times
Learn about the transition of customer relationships from traditional local stores to modern supermarkets and department stores. Explore the shift from personal interactions to mass marketing strategies in the business world.
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