Term
ISCR and ISW represent a firm’s share of
__ _________ __________. |
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Definition
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Term
ASCR and ASW represent a firm’s share of
__ _____ _____________. |
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Definition
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Term
MS(units) and MS($) represent a firm’s share of _________________________________
in the market. |
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Definition
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Term
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Definition
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Term
| Which order of terms best represents the evolution of CRM? |
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Definition
| functional → customer facing → strategic |
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Term
T/F
Customer databases typically have more “columns” than do prospect databases. |
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Definition
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Term
T/F
Cluster data can be used to enhance a customer or prospect database. |
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Definition
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Term
T/F
Enhancement data is typically appended to a customer database by matching transactional data. |
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Definition
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Term
| What types of costs are associated with a CRM implementation? |
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Definition
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Term
| Name the 4 possible options for CRM implementation: |
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Definition
Outsourcing
In-House
Software
Cloud-based |
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Term
T/F
According to the textbook authors, the objective of CRM is to “maximize the lifetime
value of each individual customer to the firm”. |
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Definition
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Term
| What 4 strategy factors result in a successful/unsuccesful CRM implementation? |
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Definition
1) Everyone is on board
2) All processes are integrated
3) Data Technology is successful
4) Data Usage is successful |
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Term
| Why is it difficult to measure the profits that come as a result of a CRM implementation? |
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Definition
It is difficult to calculate the ROI for investments in
1) IT
2)People
3) Processes |
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Term
T/F
Analytical projects related to a CRM implementation consist primarily of constructing
the infrastructure to meet the technical and functional requirements or CRM. |
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Definition
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Term
Firms must consider:
What the customers values are,
What the company will offer the customers,and
What the company actually offers the customers,
When developing...
1) ERP
2) the value proposition
3) operational projects |
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Definition
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Term
T/F
CRM is typically considered a short-term investment. |
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Definition
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Term
We use data to drive decisions on customer...
___________, ___________, and ___________. |
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Definition
| Acquisition, retention and development. |
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Term
| Advantages/Disadvantages of Outsourcing |
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Definition
Advantages: cheaper, no up-front cost
Disadvantages: riskier, less control |
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Term
| Advantages/Disadvantages of In-house CRM implementation: |
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Definition
Advantages: High control, customizable
Disadvantages: costly, long process |
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Term
| Advantages/Disadvantages of Software CRM implementation: |
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Definition
Advantages: one-stop-shop, faster development
Disadvantages: sometimes difficult to integrate processes, Costly |
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Term
| Advantages/Disadvantages of Cloud-bsed CRM implementation: |
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Definition
Advantages: Everywhere access to data, quicker
Disadvantages: more risk, less secure |
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Term
Using Odds Against to calculate probability:
ex/ Odds are 3 to 1 |
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Definition
1
probability = ________
1+x
==> 3 to 1 = 1/(1+3)= .25 |
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Term
Calculating odds using probability:
ex/ probability equals .25 |
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Definition
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Term
Explain what the various nodes represent:
SQUARE-
CIRCLE-
TRIANGLE- |
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Definition
SQUARE = DECISION
CIRCLE = EVENT
TRIANGLE = OUTCOME |
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Term
Event Nodes (CIRCLE) must meet 3 criteria.
Events must be... |
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Definition
1) mutually exclusive
2) collectively exhaustive
3) probabilities add to 1 |
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Term
| What are the 4 types of databases? |
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Definition
Customer
Cluster
Process
Enhancement |
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Term
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Definition
| Contact information, dmeographics, psychographics, transactional data |
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Term
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Definition
| Less transactional data than customer databases |
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Term
| ________ and _______ databases contain purchased data |
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Definition
| Cluster and Enhancement Databases |
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Term
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Definition
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Term
| Enhancement databases have: |
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Definition
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Term
Breifly describe:
CPC CPM CTR
TCR WOM ER
BR TR ROAS |
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Definition
Cost-per-Click
Transaction Conversion Rate
Bounce Rate
Cost-per-Mille(1,000 views)
Word-of-Mouth
Take Rate
Click-Through-Rate
Exit Rate
Return on Ad Spend |
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