Ch.8 CRM

Question 1

A System that
- Gathers Cx Info
to Build Loyalty & Retain Cx
- Improves Relationships
- Involves working w/ Employee & Ext. Cx
- Use Tech to manage ppl & processes

Answer 1

CRM

Cx Relationship Mngt

Question 2

2 Focuses of CRM

Answer 2

1. Identifying Profitable Cx
2. Interact w/ Cx to Maximize Value of Relationship

Question 3

Acquiring necessary system to
Gather & Track Cx Info

Answer 3

Cx Relationship Mktg

the other CRM

Question 4

An Overall Strategy that a company
- Understands Needs of Cx
- Keep Cx Updated
- Satisfy Cx for long time

Answer 4

Cx Relationship Mngt

CRM

Question 5

CRM Cycle

Answer 5

1. Marketing Research
   Create Offering
2. Business Development
3. Cx Feedback

Question 6

Simple Flow Model of CRM system

Answer 6

1. Identify Best Cx
   Data Mining finds Cx that yield high profits/ high potential
2. Identify Cx Relationships
   Customer-centric
3. Understand Interaction w/ Cx
4. Capture Relevant Data on Interaction
5. Store/Integrate Cx Data w/ IT

Question 7

Touch Points including

Answer 7

Registration
Cx Srv Call
QR Code
Email
Web-Based
Point-of-Sale

Question 8

Data Analysis for CRM

Answer 8

1. Cx Segmt
2. RFM Analysis
3. LTV Analysis
4. Predictive Modelling

Question 9

In CRM Cycle stage 3 Cx Feedback

Avoid overrelying on tech but focus on real goal

Question 10

3 situations of how CRM Fails Companies

Answer 10

1. Focus on Transaction but not Cx’s life
2. 3

Question 11

Common CRM Database Applications

Answer 11

1. Campaign Mngt
   interaction monitoring & customizing offering
2. Retaining Loyal Cx
   mutually benefit
3. Cross-Selling other P/S
   profiles matching
4. ↑ Effectiveness of Distribution Channel Mktg
   manufacturer directly in touch w/ Cx
5. ↑ Cx Srv

Question 12

3 Points of the Future of CRM

Answer 12

1. Newest/Best Tech to maintain relevance
   e.g. cloud
2. Time for Data Input & Manage Info Provided
3. Automating Cx Relationship - predictive modelling
   e.g. Amazon