Evolution of Customer Relationship Management

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What is the main purpose of Analytical CRM Systems?

Conducting marketing campaigns through social media

Analyzing customer behavior and perceptions (correct)

Managing on-premise CRM systems

Providing free software solutions to customers

Which type of CRM system provides the source code for its software at no cost?

On-demand CRM

Mobile CRM

Open-source CRM (correct)

Real-Time CRM

How is On-demand CRM typically accessed?

On-premise installation only

Through smartphones or iPads

Through statistical models

Via cloud computing or SaaS (correct)

What is a key advantage of using Mobile CRM?

Conducting communications through mobile devices Signup and view all the answers

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 Signup and view all the answers

What is a primary reason why open-source CRM systems did not gain significant market share?

Complexity in installation and maintenance for organizations Signup and view all the answers

What type of business capital is not typically seen in financial statements?

Intellectual Capital Signup and view all the answers

What is the primary goal of Customer Relationship Management (CRM)?

Develop highly individualized offers Signup and view all the answers

What do collaborative CRM systems primarily aim to achieve?

Provide effective communication with customers Signup and view all the answers

What is the main purpose of customer-facing applications in Operational CRM systems?

Interact directly with customers Signup and view all the answers

What is the key function of Marketing Systems in Operational CRM?

Identify and target best customers Signup and view all the answers

What is the purpose of Loyalty Programs according to the text?

Predict and influence future behavior Signup and view all the answers

What is the main challenge associated with open-source CRM systems?

They lack reliable updates and require significant IT expertise for integration. Signup and view all the answers

What is the primary purpose of Social CRM?

To understand customer sentiment and engage in collaborative conversations. Signup and view all the answers

Which of the following is NOT a key benefit of Operational CRM systems?

Improving supply chain visibility and supplier management. Signup and view all the answers

What is a common reason for CRM implementation failures?

Frontline employees are not consulted during the implementation process. Signup and view all the answers

What is the purpose of supply chain visibility?

To track the flow of materials and information from suppliers to end customers. Signup and view all the answers

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. Signup and view all the answers

What is the primary function of Supply Chain Management (SCM) systems?

To facilitate information sharing along the supply chain Signup and view all the answers

Which of the following is a benefit of Electronic Data Interchange (EDI)?

Minimizes data entry errors and paper usage Signup and view all the answers

What is the primary purpose of Extranets in Supply Chain Management?

To allow external business partners to access data and collaborate securely Signup and view all the answers

Which of the following is an example of a reverse flow in the supply chain?

Returned products for recycling Signup and view all the answers

What is the main advantage of Vendor-Managed Inventory (VMI) in Supply Chain Management?

Reduced inventory carrying costs for the retailer Signup and view all the answers

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 Signup and view all the answers

What is the primary advantage of using Electronic Data Interchange (EDI) over traditional paper-based document exchange?

Faster processing and reduced cycle times Signup and view all the answers