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ISQS 2340 Exam 3, TTU Questions and Answers Verified by Expert |
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ISQS 2340 Exam 3, TTU Questions and Answers Verified by Expert |
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ISQS 2340 Exam 3, TTU Questions and AnswersVerified by Expert | 2024-2025
Customer Relationship Management (CRM) - ANSWER provides and
organization with a single complete view of every customer, and provides the
customer with a single complete view of the organization and its extended
channels.
Components of CRM System: Contact and Account Management - ANSWER
captures and tracks relevant data about past and planned contacts.
Components of CRM System: Sales - ANSWER provides software tools and data
sources to manage sales activities, and optimizes cross-selling and up-selling.
Cross-selling - ANSWER selling related products to current customers.
Up-selling - ANSWER selling better products than the one currently being used.
Components of a CRM System: Marketing and Fulfillment - ANSWER
automates direct marketing, scheduling, and tracking, assists in scheduling
responses and requests while capturing relevant info for the marketing database.
Components of a CRM System: Customer Service and Support - ANSWER
provides customer service software tools, and real-time access to the customer
database.
Call Center Software - ANSWER routes calls to customer support agents.
, Help Desk Software - ANSWER provides assistance to customer service agents
having problems with a product or service.
"Help for the help"
Components of a CRM System: Retention and Loyalty Programs - ANSWER
enhancing and optimizing customer retention and loyalty is a major business
strategy because:
• costs 6 times more to sell to a new customer.
•dissatisfied customers will tell 8-10 people about bad experience.
•a firm can boost sales by 85% by increasing customer retention by 5%.
•odds of selling to a new customer are 15%, odds of selling to an existing
customer are 50%.
•if a firm resolves a service problem quickly, 70% of complaining customers will do
business with them again.
Three Phases of CRM - ANSWER Acquire- CRM helps a new customer perceive
value of a superior product or service.
Enhance- CRM supports superior customer service using cross-selling and up-
selling.
Retain- CRM helps identify and reward the most loyal and profitable customers.
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