What is the objective of customer retention in CRM?Question 50Answera.Building better relationships with existing customersb.Increasing the range of products bought by the customerc.Understanding customer needs for future developmentd.Convincing potential customers to make the first purchase

What is the primary focus of customer acquisition in CRM?Question 49Answera.Understanding customer needs for future developmentb.Convincing current customers to make repeat purchasesc.Building better relationships with existing customersd.Converting potential customers into actual customers

Customer relationship management (CRM) focuses on the net present value of a customer’s business over the span of its expected relationship with the selling organization.Group of answer choicesfalsetrue

What is the primary purpose of Customer Relationship Management (CRM)?Question 12Answera.To manage detailed information about individual customers and all customer “touch points” to maximize loyaltyb.To design marketing campaignsc.To develop new products

The difference between the marketing concept and customer relationship management is thatMultiple choice question.CRM is the process of learning about existing customers and exceeding their expectationsCRM is the process of focusing on the goods and services that will make the most profitCRM recognizes that the product features are most important in making the saleCRM focuses on persuading customers that your products are better than competitors' products

The implementation of customer relationship management (CRM) is a method ofMultiple Choicemanaging inventory.rearranging the facility layout.changing the organizational structure.getting close to customers and understanding their needs.improving an organization’s product development plan.