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For each question, select the most appropriate answer and write the
corresponding letter in the brackets provided.
4 Which are the two frameworks that CRM essentially works on?
( Pg 6)
1
Name: Kuganesh ( 3 ) Class: SQ2104A
5 The key requirements for a CRM role involves all of the following EXCEPT
( Pg 9,10)
6. The customer lifecycle management model can be broken down into several
key steps: (Pg 15 – 1.4)
2
Name: Kuganesh ( 3 ) Class: SQ2104A
3
Name: Kuganesh ( 3 ) Class: SQ2104A
1. Data mining will gain prominence - Data mining techniques in CRM assist businesses in
finding and selecting the relevant information that can then be used to get a holistic
view of the customer lifecycle; this comprises of four stages: customer
identification, attraction, retention, and development.
2. Social CRM will boost relationships - Social CRM is making use of social media services,
techniques, and technology to enable organisations to engage with their customers.
3. Companies will offer amazing customer experience – the company can take customer
experience to the next level will get rewarded with increased customer lifetime value and
transaction size.
4. Response times will be shortened - Despite customers engaging with companies through
various channels – customer support, social media, and stores and so on – they expect
quick responses.
5. CRM adoption will increase - high CRM adoption will see a rise in their productivity.
To provide better customer experience, companies will hire tech-savvier talent who do not
just know how to operate CRM tools but also use them to their benefit.
12 Upon graduation, Chloe is considering a CRM role as her career choice. List 8
key requirements that Chloe should take into consideration. (10 marks)
4
Name: Kuganesh ( 3 ) Class: SQ2104A
13 List and explain FIVE steps of the customer lifecycle management model.
(10 marks)
Acquisition - The leads enter the sales pipeline. As they progress, businesses will need to be
able to continue to demonstrate product value, while also addressing any concerns that may
arise.
Development - Leads that reach the end of the pipeline complete their sales and become
customers. Businesses then focus on further developing that relationship, by following up
with the customer and soliciting feedback.
Retention - As customers provide information, businesses analyse the data collected so that
they can then create a more personalised customer experience. This may lead to further
sales, often in the form of cross selling and up-selling.
Loyalty - The end goal of the customer lifecycle is to create brand advocates who not only
continue to do business with the company but also promote the company on their own social
circles.