ISOM Quiz III Chpt 11
Terms
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- 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
marketing
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 - RFM
- 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