Business Quiz: CRM (Customer Relationship Management)

Reviewed by Editorial Team
The ProProfs editorial team is comprised of experienced subject matter experts. They've collectively created over 10,000 quizzes and lessons, serving over 100 million users. Our team includes in-house content moderators and subject matter experts, as well as a global network of rigorously trained contributors. All adhere to our comprehensive editorial guidelines, ensuring the delivery of high-quality content.
Learn about Our Editorial Process
| By Daniel
D
Daniel
Community Contributor
Quizzes Created: 2 | Total Attempts: 10,201
| Attempts: 934
SettingsSettings
Please wait...
  • 1/7 Questions

    What is a data warehouse?

    • An older form of a data mart
    • The repository for all relevant customer and prospect information
    • A collection of logistical, analytical, and heuristic models
    • None of the above
Please wait...
About This Quiz

This Business Quiz on CRM focuses on key aspects of customer relationship management, inventory control, and supply chain dynamics. It tests understanding of effective CRM practices, customer service goals, and the impact of supply chains on profitability, enhancing learner's business acumen.

Business Quiz: CRM (Customer Relationship Management) - Quiz

Quiz Preview

  • 2. 

    Customer relationship management (CRM) is best described as:

    • A focus on managing long term supplier relationships

    • A marketing philosophy based on putting the customer first

    • Managing customers to promote your products

    • Transactional guidelines when dealing with customers

    Correct Answer
    A. A marketing philosophy based on putting the customer first
    Explanation
    CRM is best described as a marketing philosophy based on putting the customer first. This means that the main focus of CRM is to prioritize the needs and preferences of the customer in order to build strong and lasting relationships. It involves understanding and anticipating customer needs, providing personalized experiences, and tailoring marketing strategies to meet those needs. By putting the customer first, businesses can enhance customer satisfaction, loyalty, and ultimately drive long-term success.

    Rate this question:

  • 3. 

    A goal of inventory management is:

    • Balance sheet results

    • Customer service

    • Low level of expenses

    • Product-maket synergies

    • Target market goals

    Correct Answer
    A. Customer service
    Explanation
    Inventory management plays a crucial role in ensuring customer satisfaction and meeting their demands. By effectively managing inventory levels, businesses can ensure that products are readily available to customers when they need them. This leads to improved customer service as it reduces the likelihood of stockouts or delays in fulfilling orders. Additionally, inventory management helps in optimizing order fulfillment processes, reducing lead times, and enhancing overall customer experience. Therefore, customer service is a key goal of inventory management.

    Rate this question:

  • 4. 

    Which of the following describes the typical flow of cash in supply chain?

    • Customer to producer to supplier

    • Producer to customer to supplier

    • Supplier to producer to customer

    • Customer to supplier to producer

    Correct Answer
    A. Customer to producer to supplier
    Explanation
    The typical flow of cash in the supply chain starts with the customer, who pays for the goods or services they receive. The cash then flows to the producer, who receives payment for the products they have provided. Finally, the cash flows to the supplier, who receives payment for the materials or components they have supplied to the producer.

    Rate this question:

  • 5. 

    Supply chains create value by:

    • Increasing profitability and return to shareholders

    • Providing multiple variants of products for customers

    • Making transaction processing more efficient

    • Developing more accurate forecasts

    Correct Answer
    A. Increasing profitability and return to shareholders
    Explanation
    Supply chains create value by increasing profitability and return to shareholders. This is because a well-managed supply chain can help reduce costs, improve efficiency, and enhance customer satisfaction, all of which contribute to higher profitability. By optimizing processes, streamlining operations, and ensuring timely delivery of products, supply chains can generate higher revenues and ultimately increase the return to shareholders.

    Rate this question:

  • 6. 

    Which of the following is true about forecasting?

    • It should be done once a year

    • It should be conducted by the supply chain leadership

    • It is more accurate for groups than for individual items

    • It is better to under-forecast rather than over-forecast

    Correct Answer
    A. It is better to under-forecast rather than over-forecast
    Explanation
    Under-forecasting means predicting a lower demand than what actually occurs, while over-forecasting means predicting a higher demand than what actually occurs. It is better to under-forecast because over-forecasting can lead to excess inventory, increased costs, and potential wastage. Under-forecasting, on the other hand, may result in temporary stockouts, but it allows for more flexibility in adapting to changes in demand and prevents unnecessary costs.

    Rate this question:

  • 7. 

    Customer Touchpoints are: (Multiple answers)

    • Phone inquiries

    • E-mail inquiries

    • Merchandise return desks

    • Any point of contact that a customer or prospect has with a company

    Correct Answer(s)
    A. Phone inquiries
    A. E-mail inquiries
    A. Merchandise return desks
    A. Any point of contact that a customer or prospect has with a company
    Explanation
    Customer touchpoints refer to any point of contact that a customer or prospect has with a company. This includes phone inquiries, e-mail inquiries, and merchandise return desks. These touchpoints are crucial for building and maintaining customer relationships, as they provide opportunities for interaction, problem-solving, and gathering feedback. By effectively managing and optimizing these touchpoints, companies can enhance customer satisfaction, loyalty, and overall business performance.

    Rate this question:

Quiz Review Timeline (Updated): Aug 8, 2024 +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

  • Current Version
  • Aug 08, 2024
    Quiz Edited by
    ProProfs Editorial Team
  • May 12, 2015
    Quiz Created by
    Daniel
Back to Top Back to top
Advertisement
×

Wait!
Here's an interesting quiz for you.

We have other quizzes matching your interest.