Question

Question 26 

 Which of the following systems help to create a total view of customers to maximize share-of-wallet and profitability? 

Customer relationship management (CRM) system 

Supply chain management (SCM) System 

Enterprise resource planning (ERP) system 

Financial planning wallet (FPW) System

Question 18 

The predominant language of the Internet is which of the following: 

JavaScript 

HTML 

Flash Player 

XML

Answer 1

Ans. 1. Customer Relationship Management (CRM) System

The Customer Relationship Management (CRM) approach uses various data analysis tools and software for analyzing customer history and strives to have better relationships with both current and potential customers. The focus is on generating more sales (profitability) and customer retention, as acquiring a new customer maybe 5 times more costly when compared to retaining an old one. Customer data may be derived from many different communication channels and sources and these may include live chat, email, telephone, website, social media, and others. While the earlier approaches towards CRM used annual surveys and frontline questionnaires, the first open CRM system was developed in the year 2004.

The CRM software uses data warehouse technology and may also measure and track the marketing campaigns over many different networks. It is now also available as a SaaS (Software as A Service) model. The use of CRM software helps firms in resource allocation following customer value and creates a better fit between a customer desired value or his characteristics/behavior and the offering of the firm. CRM approach may not focus on extracting maximum revenues and value from a single transaction, but will have a more long-term approach and will dedicate its efforts towards maximizing the profits over prolonged duration through a series of transactions. Therefore, the emphasis shifts towards maintaining customer relationships and maximizing customer equity. CRM software’s new measures like the share of wallet and the lifetime value of a customer replace the traditional concepts like market share. Companies aim to develop loyal customers and to have a greater share of their wallet over a long period of time. They also aim to gain more profitable customers more. Through the CRM approach, a company can keep its high-value customers and obtain a greater share of their wallets by providing to them offerings and allied services that match their aspirations and desires to the best possible extent.

Ans.2. HTML

HTML (Hypertext Markup Language) can be considered to be an evergreen language. More advanced features including CSS, XML, XHTML, VB Script, JavaScript, and DHTML have also been added to it over the past years. It is imperative to know HTML to create a website. HTML is the language of all the documents that are designed to be shown in web browsers. A web browser will receive the HTML documents from local storage or from the web server and display it in the form of a multimedia web page. All the web pages we see on the internet are written in HTML. Hence it can be said that HTML is the language of the internet. However, HTML cannot be said to be a computer programming language, as it can be used for writing programs.