Glossary of ISOM Quiz III Chpt 11

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Created by ddeetz

business philosophy based on the premise that those organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantages in the future
CRM (Customer Relations Management)
CRM entails the integration of:
management of sales
customer support

CRM enables an organization to:
-Provide better customer service
-Make call centers more efficient
-Cross sell products more effectively
-Help sales staff close deals faster
-Simplify marketing and sales processes
-Discover new customers
-Increase customer revenues

Recency, Frequency, Monetary Value
help organizations identify their customers across various applications
CRM reporting technology
help organization segment their customers into categories such as best and worst customers
CRM analysis technologies
help organizations make predictions regarding customer behavior such as which customers are at risk of leaving
CRM predicting technologies
supports traditional transactional processing for day-to-day front-office operations or systems that deal directly with the customers
Operational CRM
supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers
Analytical CRM

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