Chapter 11 Flashcards
(36 cards)
Customer Relationship Management
customer-focused and customer-driven organizational strategy.
over time, all organizations inevitably lose a certain percentage of customers, a process called
customer churn
what are some examples of customer “touch points”
*Smart phone
*World wide web
*computer
*physical store
*sales representative
*field service technician
*direct mail
*E-mail
*Service center
*Call center
how has the use of personal technology affected the business-customer relationship?
It has created additional customer touchpoints
what is the primary function of a collaborative CRM system?
provide effective and efficient interactive communication with customers
what are the two major components of operational CRM?
Customer-facing applications and customer-touching applications.
What are the benefits of operational CRM
*Efficient, personalized marketing, sales and services
*A 360 view of each customer
*the ability for sales and service employees to access a complete history of a customer’s interaction with the organization, regardless of the touch point.
what objectives are CRM tools often used to accomplish?
*Improve sales and account management.
*Form individualized relationships with customers.
*Identify the most profitable customers and give them the highest level of service
Provide employees with the info and processes necessary to know their customers
*Understand and identify customer needs, and effectively build relationships among the company
Customer-facing CRM applications
an organization’s sales, field service, and customer interaction center representatives interact directly with cutomers.
Sales force automation
component of an operational CRM system that automatically records all of the components in a sales transaction process
what is the primary function of campaign management applications in CRM systems?
To plan campaigns that send the right messages to the right people through the right channels.
what is the primary goal of loyalty programs, according tot he content is to?
influence customers’ future behaviour
what are some of the purposes that analytical CRM systems analyze data
*Designing and executing targeted marketing campaigns
*Increasing customer acquisition, cross-selling, and upselling
*Providing input into decisions relating to products and services (E.g. pricing and product development)
*Providing financial forecasting and customer profitability analysis
which technologies play a significant role in analytical CRM systems?
Data warehouses, data mining, decision support, and business intelligence technologies
On-demand CRM system
a CRM system that is hosted by an external vendor in the vendor’s data centre
which company is best known as an on-demand CRM vendor?
sales force
mobile CRM system
an interactive system that enables an organization to conduct communications related to sales, marketing, and customer services activities through a mobile medium
which social media platforms are commonly used in social CRM systems?
Facebook, Twitter and LinkedIn
what is one the key goals of implementing a real-time CRM system?
To provide a superior level of customer satisfaction.
what are the three different segments of a supply chain
upstream
internal
downstream
what is the meaning of “inventory velocity” in the context of a supply chain?
The speed at which products and services are delivered after the materials are received.
Which segment of the supply chain deals with packaging, assembling, or manufacturing?
Internal
Supply chain management function?
to improve the processes a company uses to acquire the raw materials it needs to produce a product or service and then deliver that product or service to its customers.
what are the five basic components of SCM?
Plan
Source
Make
Deliver
Return
