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Directions: Read each statement carefully. In a separate sheet of paper, write TRUE if the statement is correct and FALSE if the statement does not fit the description 1. CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention 2. Customer database information is also used in customer segmentation and profiling 3. An intimate knowledge and understanding of customer needs and wants can lead to ineffective customer service that can result in long-term customer loyalty. 4. Acquiring and keeping customers is the end goal of businesses because customers create demand.

Directions: Read each statement carefully. In a separate sheet of paper, write TRUE if the statement is correct and FALSE if the statement does not fit the description 1. CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention 2. Customer database information is also used in customer segmentation and profiling 3. An intimate knowledge and understanding of customer needs and wants can lead to ineffective customer service that can result in long-term customer loyalty. 4. Acquiring and keeping customers is the end goal of businesses because customers create demand.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Directions: Read each statement carefully. In a separate sheet of paper, write TRUE if the statement is correct and FALSE if the statement does not fit the description 1. CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention 2. Customer database information is also used in customer segmentation and profiling 3. An intimate knowledge and understanding of customer needs and wants can lead to ineffective customer service that can result in long-term customer loyalty. 4. Acquiring and keeping customers is the end goal of businesses because customers create demand. 5. Maintaining high levels of customer service quality may be simple due to variability of services. 6. Customer's lifetime value involves activities designed to enhance customer satisfaction, or the perception that a product has met or exceeded expectations. 7. Customer Relationship Management can take on many forms-salesperson assistance, product delivery, technical advice, help desks, or other means. 8. Organizations must constantly bear in mind that it better to exceed customer service expectations than to simplify fulfil or underachieve them. 9. Store owner is a person that transacts with a business person or business organization to buy goods or services for monetary or other valuable considerations. 10. companies can best manage customer service quality by establishing service objectives with specific and measurable targets.
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