IFSM 201 Quiz 4 - The primary financial impact of a robust

University of Maryland IFSM 201 Quiz 4

Question 1 

(True/False). The primary financial impact of a robust CRM system results from retaining current customers versus obtaining new customers.

Question 1 options:

A) True

B) False

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Question 2

A company is more likely to lose current customers if:

Question 2 options:

A) 

the company is unable to resolve issues quickly and fairly.

B) 

the company does not offer a rewards program.

C) 

the company sends many advertising emails.

D) 

the company's service representative does not seem to have all the needed information from all the pertinent departments.

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Question 3

In terms of customer service issues, which of the following is the least likely reason for using a robust CRM?

Question 3 options:

A) 

A CRM can provide a more rapid response to queries and concerns by forwarding the query to the right department.

B) 

A CRM can enable members of pertinent departments to have access to all the relevant information, enabling them to answer queries and resolve problems quickly and easily.

C) 

A CRM can provide a company's marketing department with information needed to identify and target new customers.

D) 

A CRM can optimize the information shared among departments, resulting in better management of existing accounts.

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Question 4 

(True/False). A data warehouse will typically contain the history of all previous interactions with specific users (including product use and transactions), but rarely includes other types of data.

Question 4 options:

A) True

B) False

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Question 5

(True/False). Data warehousing and data mining mean the same thing when applied to CRM.

Question 5 options:

A) True

B) False

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Question 6 

Which of the following would belong to the category of data mining tools:

Question 6 options:

Excel.

Word.

PowerPoint

Open Office.

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Question 7

A data warehouse is:

Question 7 options:

a place where raw data about customers, products, transactions, etc., is stored.

a software program used to retrieve and analyze data stored in a relational database.

a source for big data.

a point of sale system.

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Question 8 

You are frustrated to find that the only way to contact the customer service department is to make a phone call. The number listed would result in long distance charges to your phone bill. Which issue should be addressed by the company to keep its CRM in line with your expectations?

Question 8 options:

A) 

Privacy.

B) 

Cleaning up the data.

C) 

Customers expect more.

D) 

Mining the social media inputs.

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Question 9

You are annoyed by receiving identical marketing messages from an online shopping site you have used. If the company wishes to maintain a good relationship with you, which of the following CRM components needs to be addressed to improve customer satisfaction?

Question 9 options:

A) 

Privacy.

B) 

Mining social media inputs.

C) 

Cleaning up the data.

D) 

Customers expect more.

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Question 10 

(True/False). Whether the focus is acquisition, loyalty, retention, or service, a company's use of CRM results in greater profits for the company.

Question 10 options:

A) True

B) False

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Question 11 

You receive an offer for a credit card that can be use to accrue points that apply to purchase of airline tickets. This comes from a bank that you currently do not use for any banking services. This is a form of CRM that is most typically used for __________.

Question 11 options:

A) 

acquiring new customers.

B) 

promoting loyalty to the company.

C) 

a special service for current customers.

D) 

retention of customers.

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Question 12 

Is the following an example of increasing brand awareness through groups or fans? Select Yes or No

When you sign on to your favorite social media website, a number of sponsored ads appear on your home page.

Question 12 options:

A) 

Yes

B) 

No

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Question 13

Is the following an example of increasing brand awareness through groups or fans? Select Yes or No

You "Friend" or "Like" a page on your favorite social media page that advertises a product you approve.

Question 13 options:

A) 

Yes

B) 

No

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Question 14 

Is the following an example of social media viral marketing? Indicate your response by selecting yes or no.

Each time a user sends a message via Twitter, another message is attached to the end advertising the availability of that tool.

Question 14 options:

A) 

Yes

B) 

No

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Question 15

When you sign on to your favorite social media website, a number of sponsored ads appear on your home page. Which category of social media advertising does this represent?

Question 15 options:

A) 

Direct advertising.

B) 

Sending ads to a person's network of friends.

C) 

Increasing brand awareness through groups or fans.

D) 

Using the company's own social networking site.

E) 

Viral marketing

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Question 16 

Is the following an example of social media viral marketing? Indicate your response by selecting yes or no.

A company with an easily recognized product brand has a Facebook page where fans of the product can "Friend" or "Like" the page and post comments.

Question 16 options:

A) 

Yes

B) 

No

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Question 17 

 

Is the following an example of increasing brand awareness through groups or fans? Select Yes or No.

Your instant messaging service attaches a message to the bottom of each message inviting the recipient to sign up for this same service provider.

Question 17 options:

A) 

Yes

B) 

No

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Question 18 

What function is used to narrow down the data in a Pivot Table?

Question 18 options:

Filters

Sort

Select

Insert

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Question 19

Goal Seek if the only type of What-if Analysis provided by Excel 2013 or 2016.

Question 19 options:

True

False

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Question 20

Every time you select different PivotChart fields

Question 20 options:

The chart changes and the Pivot Table itself changes.

The chart changes but the Pivot Table itself remains the same.

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