3.4 Describe the Renewal Cycle for Software and Services 700-805 Practice Questions (Page 2)

Questions 6–10

1. 6foundation · easy

   In addition to contract expiration dates, which of the following can also trigger the renewal process?

   • AA change in the customer's company name
   • BUsage milestones, such as reaching a license limit
   • CThe vendor's quarterly earnings call
   • DThe customer's annual report publication
   Reveal Solution Discussion Select an answer first
2. 7application · medium

   A renewals manager is preparing for a renewal discussion with a large enterprise customer. The customer's IT team has been using the software heavily, but the procurement department is focused on cost reduction. The renewals manager needs to build a compelling case for renewal. Which stakeholder should the renewals manager engage first to understand the value the software delivers?

   • AThe customer's legal team, to review the contract terms and renewal conditions.
   • BThe customer's IT director, to gather usage data and understand how the software supports business objectives.
   • CThe customer's procurement manager, to discuss pricing and contract terms.
   • DThe customer's end users, to collect feedback on their experience with the software.
   Reveal Solution Discussion Select an answer first
4. 8foundation · easy

   Which activity is a typical task performed during the renewal cycle to understand how the customer is using the product?

   • AProduct development
   • BUsage review
   • CNetwork configuration
   • DInvoice generation
   Reveal Solution Discussion Select an answer first
5. 9foundation · easy

   If a customer decides not to renew their contract, what is an appropriate follow-up action for the renewals team?

   • AOffer a free product upgrade
   • BConduct a win-back analysis to understand the reasons for non-renewal
   • CIgnore the customer and move on
   • DImmediately delete all customer data
   Reveal Solution Discussion Select an answer first
6. 10expert · hard

   A renewals manager is overseeing a portfolio of accounts with varying contract end dates. One account has a contract that expires in 30 days, but the customer has not responded to any renewal communications. The customer's usage has been steady, and there are no outstanding issues. The renewals manager needs to determine the next step. What should the renewals manager do?

   • AEscalate the account to the sales team to pursue a last-minute renewal.
   • BTry alternative communication channels and involve the customer's internal champion to understand the situation.
   • CAutomatically renew the contract based on the customer's steady usage and history.
   • DAccept that the customer will not renew and prepare for non-renewal follow-up.
   Reveal Solution Discussion Select an answer first