Term
| Importance of Customer Relationship Management CRM |
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Definition
Organizational Longevity
Information Flow Across the Supply Chain
Improve capability to meet customer expectations/needs |
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Term
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Definition
| Cost of new vs. existing customers |
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Term
| Information Flow Across the Supply Chain |
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Definition
| the entire supply chain must meed end customer expectation |
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Term
| Improve Capability to meed customer expectations/needs |
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Definition
| successful CRM = 50% people, 30% process, 20% technology |
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Term
| Key tools and components of CRM |
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Definition
Segmenting customers
Predicting Customer behaviors |
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Term
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Definition
Target marketing efforts
Relationship Marketing/permission marketing
Cross Selling |
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Term
| Predicting customer behaviors |
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Definition
Customer defection analysis (customer churn)
5% improvement in customer retention = 75% increase in profit |
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Term
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Definition
| specific market approaches to different segments of the market |
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Term
| relationship marketing/permission marketing |
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Definition
| customer selects the type and time of communication with organizations (opt-in, opt-out) |
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Term
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Definition
| selling additional products as the result of an initial purchase |
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Term
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Definition
| reducing customer defections |
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Term
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Definition
| documenting field activities,communicating with the home office, retrieval of sales history and other company-specific documents in the field |
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Term
| Principles of customer service |
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Definition
seven R's Rules
Customer service elements |
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Term
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Definition
| right product, right quantity, right condition, right place, right time, right customer, right cost (the perfect cost) |
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Term
| Customer service elements |
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Definition
pre-transaction
transaction
post-transaction |
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Term
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Definition
| the organizational structures and systems necessary to give the buyer confidence in our capabilities |
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Term
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Definition
| facilitating order processing, order management (lead-time), and order fulfillment |
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Term
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Definition
| after-sales service, warranty repair, product returns, and operating information |
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Term
| what is the typical cause of most unsuccessful CRM initiatives? |
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Definition
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Term
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Definition
Creating the CRM Plan
Involving CRM Users from the Outset
Selecting the Right Application and Provider
Integrating Existing CRM Applications
Establishing Performance Measures
Training for CRM Users |
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Term
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Definition
Customer Data Privacy
Social Media
Cloud Computing |
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