Exam 20: Customer Relationship Management

Response lists are especially important in database creation because past behavior is a strong predictor of future behavior.

Explain the importance of interaction in a customer relationship system.Most colleges and universities have some form of CRM system.Describe an interaction that occurs at your institution.

Through campaign management,the organization's marketing department controls outbound communications to customers concerning product offerings.

Describe the actions of a company that is referred to as having a customer-centric focus.

Fingerhut,the catalog retailer,used _____ to determine that customers who change residences are three more likely as customers who have not moved to buy tables,fax machines,and decorative products but no more likely to buy jewelry or footwear.As a result,Fingerhut created a catalog for people who have changed residences.

_____ interactions occur when a customer buys a product with his or her credit card.

Transactions do not provide any information beyond the customer's name,address,and phone number.

Data mining in a CRM environment is normally an informal process of collecting customer information through customers' feedback on products.

Les Ailes de la Mode is a Quebec retail store that promotes the highest quality customer service by maintaining the importance of each _____,the point at which customer and store personnel exchange information and develop learning relationships.

What is a data warehouse? How does it differ from a database?

Briefly describe how and why an organization uses data mining.When is it used?

A company that has a(n)_____ customizes its product offerings based on data generated through interaction between the customer and the company.

A(n)_____ is the point at which a customer and a company representative exchange information and develop learning relationships.

In the CRM environment,all customer data collected through customer interactions are stored in a data warehouse.These data are structured and categorized and made available to all internal touch points within the organization.How does the data warehouse accomplish this task?

European-based companies are much more likely to have adopted campaign management and other CRM techniques than U.S.-based organizations.

SCENARIOS Butterball Turkey In 1981,the producers of Butterball Turkey opened the Butterball Turkey Talk-Line opened.Created to assist struggling chefs with preparing the holiday bird,the Butterball Turkey Talk-Line was initially staffed with six home economists who responded to 11,000 phone calls in its first year.The Butterball Turkey Talk-Line is known as "the granddaddy of all help lines." Today the staff of 45 home economists and nutritionists responds to over 100,000 questions each November and December.In keeping with its history of technological advances,Butterball launched butterball.com in 1995,one of the first consumer Web sites,complete with turkey preparation tips and favorite recipes from the Butterball kitchens.Butterball Turkey's commitment to providing premium products and renowned customer service has prevailed as a long-standing tradition to call on,not just at the holidays,but all year long.Butterball has maintained a prominent position on America's holiday tables,a position it is designed to hold for,undoubtedly,many years to come. -Refer to Blood Services.The organization's decision to use CRM marketing means it will:

Volvo has a concept car Web site that caters to car enthusiasts who might want to see concept cars evolve into real life products.A Forum Section allows people who really care about the cars they drive to submit opinions and questions--enabling Volvo to gauge consumer reaction to new ideas.CRM gives Volvo the opportunity to:

The traditional approach for acquiring data from customers is through:

Which of the following is an example of a channel through which customer data is traditionally gathered?

Data enhancement is a file compression technique that allows companies to make more efficient use of their data warehouses.