QUESTION 1

The customer lifecycle represents the stages customers go through in their relationship with a company. The core stages in the customer lifecycle are customer acquisition, customer retention and customer development. Customer acquisition is always the most important goal during new product launches and with new business start-ups while developing prospecting activities will be involved. Explain TWO (2) methods of business prospecting that are being conducted by the companies. (20 marks)

QUESTION 2

Sales Force Automation (SFA) is a specific package that is incorporated into more comprehensive CRM suites that operate over the three front-office areas of marketing, service and sales. SFA software is designed so that companies can collect, store, analyze, distribute and use customer-related data for sales purposes. Discuss THREE(3) components of the SFA ecosystem.

QUESTION 3

Customer relationship management metrics help companies more accurately measure their progress toward achieving their ultimate goals as a business. Properly using CRM software canresult in higher salesand more engagement with customers. Explain THREE (3) categories of CRM metrics.