Question

Which of the following is NOT an element of customer relationship management?
1. Relationship management
2. Sales force automation
3. Collective value proposition
4. Communication

Answer 1

Correct Answer - Option 3 : Collective value proposition

The collective value proposition is NOT an element of customer relationship management.

Elements of Customer Relationship Management:

1. People Management- Customer relationship management implies the efficient use of correct people at the correct time. Assigning job roles for the employees according to the skills and roles defined. 
2. Lead Management- Customer Relationship Management also involves keeping a track of the sales. There are many activities included in the tracking of the sales like call center employees contacting prospective customers, conducting market campaigns to monitor sales, etc.
3. SalesForce Automation- It is a tool used in the process of Customer Relationship Management to forecast and track potential customers. It includes activity management, document management, order management, sales analysis, and product configuration.
4. Customer Service/ communication- Communicating with the customers are an essential part of Customer Relationship Management. Generating customer loyalty is important for the retention of customers and communication is the only way out. 
5. Workflow Automation- Workflow automation is the process of streamlining all the sub-processes which leads to a reduction of costs. It includes the integration of processes and people across the organization. This process helps in saving time, energy, and money.
6. Business Reporting- Business reporting simply means the ability to identify the exact position of your company at any given point in time. Business reporting as a component of CRM serves the benefit of instant access to information at any given point in time.
7. Analytics- Analytics is an essential and pivotal part of CRM because it enables the study of data that can be used further to make an estimate of the business conditions at any given point in time.​

• A collective value proposition refers to a business or marketing statement that summarizes why a consumer should buy a product or use a service. Thus it is is not an element of Customer Relationship Management.