Business Information Systems and CRM

What does CRM coordinate across marketing, sales, and service?

Customer relationships

The process of obtaining new customers through social media, search, and email is called:

Customer acquisition

What moves a prospect from initial attention to purchase?

Lead generation funnel

What is a prospect who shows interest by downloading content called?

Marketing qualified lead

What is a prospect who has been qualified and is ready to buy called?

Sales qualified lead

CRM systems help businesses respond appropriately to different types of leads.

True

What does Salesforce provide for acquisition monitoring?

Tracking and trend analysis

Businesses depend on acquiring and keeping customers, whether called patients, patrons, or...

Regulars

What is the primary purpose of CRM systems?

Coordinate customer relationships

CRM systems only track sales and do not monitor marketing efforts.

False

What divides customers by shared characteristics like interests or location?

Market segmentation

What concentrates marketing resources on the most promising group?

Targeting

What are customers a company believes are likely to buy called?

Target market

Market segmentation can include both demographic and psychographic traits.

True

What does a CRM database support for segmented campaigns?

Targeted promotions

What is one factor to check when selecting a segmentation tool?

Integration with data sources

CRM analytics uses transaction patterns to profile what type of customers?

High-revenue customers

Targeting helps a company avoid wasting marketing resources on unlikely buyers.

True

What stage finds potential customers and plans outreach?

Prospecting

What tool provides business-to-business prospect information?

ZoomInfo

What tool creates filtered contact lists for targeted outreach?

Clearbit Prospector

What determines if a person is worth pursuing as a customer?

Lead qualification

HubSpot survey data suggests prospecting is often considered the hardest stage.

True

What tool supports finding contacts and network connections?

LinkedIn Sales Navigator

Unqualified leads waste what for a business?

Resources

CRM funnels cannot be customized to separate sales opportunities from unqualified leads.

False

What considers customer needs, wants, and expectations?

Customer understanding

What data type includes names and birth dates?

Identity data

What data type includes attitudes and opinions?

Qualitative data

What data type includes measurable purchases?

Quantitative data

What data type includes family and lifestyle information?

Descriptive data

What supports business intelligence and what-if analysis?

OLAP

What finds patterns in collected data?

Data mining

Social media integration brings information from multiple platforms into CRM.

True

What makes information available for business decisions across the organization?

Centralized customer view

Purchase histories support troubleshooting and better customer service.

True

What is the portion of spending in a category captured by one business?

Share of customer

What is expected future lifetime revenue minus costs?

Customer equity

What is revenue minus associated sales costs over a period?

Customer profitability

What guides acquisition and retention decisions based on future spending?

Customer lifetime value

Greater customer equity is linked to higher revenue and company value.

True

The business goal is to gain more purchases from what kind of customers?

Existing customers

What is another term for share of customer?

Share of wallet

CRM analysis identifies customers whose business may be unprofitable.

True

What makes CRM a target for cybercriminals?

Large amounts of customer information

What act covers personal information collected by financial institutions?

Gramm Leach Bliley Act

What act regulates credit reporting information?

Fair Credit Reporting Act

What is a common security measure for on-site servers?

Secure firewalls

Organizations have an ethical responsibility to communicate data collection policies clearly.

True

What controversy illustrates large-scale privacy consequences?

Cambridge Analytica

Organizations may sell legitimately collected information to whom?

Third parties

The textbook states a 72-hour breach notification period for U.S. organizations.

True

What converts physical receipts into digital data?

OCR

What interprets unstructured sources like email?

NLP

What finds and removes duplicate or incorrect data?

Data cleansing

What visualizes steps customers use to reach a purchase?

Journey mapping

What measures the percentage of customers lost in a period?

Churn rate

What scores interaction frequency and responses to offers?

Engagement scoring

AI can help predict future purchases for budgets and sales plans.

True

What is an unsupervised learning method that groups similar customers?

Clustering

What links an individual's nearby devices?

PAN

What connects devices at one office or site?

LAN

What connects devices across geographic locations?

WAN

What is a private organizational network for internal users?

Intranet

What standard covers LAN protocols?

IEEE 802

What standard covers Ethernet hardware?

IEEE 802.3

A network is two or more connected devices sharing information.

True

What is a network of networks?

Internet

What supplies an IP address and gateway to internet resources?

ISP

Wireless access points connect wireless users to a wired LAN.

True

What carries traffic using internet protocols?

Internet backbone

What stores data in a network?

Servers

What moves packets between networks?

Routers

What protocol handles packet assembly and reassembly?

TCP

What protocol addresses and routes packets?

IP

Information travels across the internet in small packets.

True

Network connection points are called:

Nodes

DNS is used to look up the IP address for a domain name.

True

What identifies a device and its location on a network?

IP address

What connects domain names with numeric IP addresses?

DNS

Which IP version supports about 4 billion addresses?

IPv4

Which IP version uses a much larger address space?

IPv6

Static IP addresses remain assigned to a device.

True

Which layer includes user-facing network services?

Application

What handles physical transmission in the four-layer model?

Datalink

Protocols are rules or standards for communication.

True

What governs document transfer between web clients and servers?

HTTP

What publishes web documents?

HTML

What locates a web resource?

URL

What is the broader term for resource names and addresses?

URI

What web version features interactive, dynamic content?

Web 2.0

What web version features improved use of apps and connected devices?

Web 3.0

What is the term for users classifying content with tags?

Folksonomy

What is the term for connected objects like sensors and wearables?

IoT

What means content responds to user input?

Interactivity

Tim Berners-Lee is credited with web architecture work.

True

What is a satellite-based positioning system?

GPS

What stores and analyzes spatial information?

GIS

What do businesses combine to move goods efficiently?

Geographic databases and GPS

GIS can combine data in maps or 3D scenes.

True