Ch 12 Customer Relationship Management

question

Analytical CRM System
answer

CRM system that analyzes customer behavior and perceptions in order to provide actionable business intelligence; back-office support – no customer interaction
question

Bundling
answer

A form of cross-selling where an enterprise sells a group of products or services together at a lower price than the combined individual price of the products
question

Campaign management applications
answer

CRM applications that help organizations plan marketing campaigns that send the right messages to the right people through the right channels
question

Collaborative CRM system
answer

a CRM where communications between the organization and its consumers are integrated across all aspects of marketing, sales and consumer support process
question

Cross-selling
answer

the practice of marketing additional related products to customers based on a previous purchase
question

Customer-facing CRM applications
answer

areas where customers directly interact with the organization, including customer service and support, sales force automation, marketing, and campaign management
question

Customer interaction center (CIC)
answer

A CRM operation where organizational representatives use multiple communication channels to interact with customers in functions such as inbound teleservices and outbound telesales
question

Customer relationship management (CRM)
answer

a customer-focused and customer-driven organizational strategy that concentrates on satisfying customers by addressing their requirements for products and services, and then by providing high-quality, responsive service
question

Customer-touching CRM applications (or electronic CRM or e-CRM applications)
answer

applications and technologies with which customers interact and typically help themselves. Includes search & comparison tools, technical & information services, customized products & services, and loyalty programs
question

Customer touch points
answer

any interactions between a customer and an organization
question

Front-office processes
answer

Those processes that directly interact with customers including sales, marketing and services
question

Loyalty programs
answer

programs that offer rewards to customer to influence future behavior
question

Mobile CRM system
answer

an interactive CRM system where communications related to sales, marketing, and customer service activities are conducted through a mobile medium for the purpose of building and maintaining customer relationships between an organization and its customers
question

On-demand CRM system
answer

a CRM system that is hosted by an external vendor in the vendor’s data center which spares the organization the costs associated with purchasing the system, maintenance, and employees need to know only how to access and utilize it. Also known as utility computing or soft ware-as-a-service (SaaS).
question

Open-source CRM system
answer

CRM software whose source code is available to developers and users at no cost
question

Operational CRM systems
answer

components of CRM that support the front-office business processes that directly interact with customers (i.e. sales, marketing, and service) two components: 1. Customer-facing applicaiotions 2. Customer-touching applications
question

Sales force automation
answer

the component of an operational CRM system that automatically record all the aspects in a sales transaction process
question

Social CRM
answer

The use of social media technology and services to enable organizations to engage their customers in collaborative conversations in order to provide mutually beneficial value in a trusted transparent manner
question

Upselling
answer

a sales strategy where by he organizational representative will provide to customers the opportunity to purchase higher-value related products or services as opposed to or along with the customers’ initial product or service selection
question

Data consolidation
answer

the organization’s CRM systems must manage customer data effectively with modern interconnected systems built around a data warehouse to make all customer-related data available to every unit of the business
question

360° Data View Customer
answer

complete data set on each customer that allows a company can enhance its relationship with its customers and ultimately make more productive and profitable decisions
question

Contact Management System
answer

tracks all communications between the company and the customer, the purpose of each communication, and any necessary follow-up which eliminates duplicated contacts and redundancy, which in turn reduces the risk of irritating customers.
question

Sales Lead Tracking System
answer

lists potential customers or customers who have purchased related products; that is, products similar to those that the salesperson is trying to sell to the customer.
question

Sales Forecasting System
answer

a mathematical technique for estimating future sales.
question

Product Knowledge System
answer

a comprehensive source of information regarding products and services
question

Configurator
answer

an online product-building feature that enables customers to model the product to meet their specific needs.
question

Customer Service and Support
answer

systems that automate service requests, complaints, product returns, and requests for information
question

Call Center
answer

a centralized office set up to receive and transmit a large volume of requests by telephone
question

Outbound Telesales
answer

the CIC generates a call list for the sales team, whose members contact sales prospects
question

Inbound Tele-service
answer

customers communicate directly with the CIC to initiate a sales order, inquire about products and services before placing an order, and obtain information about a transaction they have already made
question

Information Help Desk
answer

assists customers with their questions concerning products or services, and it also processes customer complaints. Live Chat: allows customers to connect to a company representative and conduct an instant messaging session enabling the participants to share documents and photos.
question

Marketing
answer

CRM Marketing applications use data mining to sift through volumes of customer data
question

Types of customer service & support:
answer

Customer interaction centers Call centers Outbound/inbound telesales Help desk Online chat – Live and automated
question

Types of sales force automation
answer

Contact management Sales lead tracking Sales forecasting Product knowledge Customizers/configurators
question

Data Mining
answer

develops a purchasing profile or snapshot of a consumer’s buying habits that may lead to additional sales through cross-selling, upselling, and bundling.
question

On-Premise CRM Systems
answer

systems are purchased from a vendor and then installed them on site.

Get instant access to
all materials

Become a Member