Supply Chain Management, Ch. 10

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private clouds

pools of computing resources that reside inside an organization and that can be served up for specific tasks as need arrives

cloud computing (on-demand computing)

refers to Internet-based computing where software and storage is located on the Internet (in the cloud) and accessed via a web browser.

website self-service

self service applications on a company's website

sales territory management systems

software applications that allow sales managers to obtain information of each sales rep's activities

clickstream

the exact pattern of a consumer's navigation through a site

lead management systems

tool that allows sales reps to follow prescribed sales techniques when dealing with prospects

customer churn

turnover in a company's customer base

segment customers

placing customers in a behavioral/demographic class, for better tailored marketing

3 Importances of a CRM

(1) Organizational longevity, (2) information flow across the supply chain (feedback loop - the entire supply chain meets the customer expectations), (3) improve capability to meet customer expectations/needs (successful CRM: 50% people, 30% process, 20% technology)

customer contact centers (call centers)

A central point within an organization from which all customer service contacts are managed by various forms of technology

data warehouse

A central repository for all or significant parts of the data that an enterprise's various business systems collect.

Post-transaction customer service elements

After-sales service, warranty repair, product returns and operating information

application service providers

Company that offers website's services for a fee

What is the challenge a CRM faces as customer base increases?

Customer base gets more diverse, so their needs get more diverse. Our supply chain must get more responsive to this diversity.

Relationship Marketing/Permission Marketing

Customer selects the type and time of communication with organizations (opt-in, opt-out)

Transaction customer service elements

Facilitating order processing, order management (lead-time), and order fulfillment.

Seven Rs Rule

Right (1) product, in the right (2) quantity, in the right (3) condition, at the right (4) place, at the right (5) time, for the right (6) customer, at the right (7) cost (the Perfect Order).

Cross-selling

Selling additional products a the result of an initial purchase

Target Marketing Efforts

Specific market approaches to different segments of the market

knowledge management systems

Supports the capturing, organization, and dissemination of knowledge throughout an organization / experience is captured before someone leaves

Pre-transaction customer service elements

The organizational structures and systems necessary to give the buyer confidence in our capabilities

Customer Relationship Management (CRM)

The overall process of building and maintaining profitable long-term customer relationships

customer lifetime value (CLV)

The present value of all profits expected to be earned from a customer over the lifetime of the customer's relationship with a company. (aka customer value, customer profitability)

data privacy

a growing concern because of the vast amounts of personal data stored in databases today and the many breaches that have occurred in the recent past.

sales force automation (SFA)

a system that automatically tracks all of the steps in the sales process; Sales force being outfitted with notebook computers, Web browsers, and sales contact management software that conned them to marketing Web sites on the Internet, extranets, and their company intranets.

Organizational Longevity

cost of new vs. existing customers | one of the importance's of a CRM

posttransaction

customer service activities that occur after a sale

pretransaction

customer service activities that occure before a sale

perfect order

delivery without failure in any order attribute: complete, on time, damage free, and documentation correct

Customer Defection Analysis (Customer Churn)

finding methods to retain customers (necessary b/c 5% improvement in customer retention = 75% increase in profits)

customer defection analysis

information that analyzes why customers stop using a particular business.

relationship marketing (permission marketing)

letting customers select the type and time of communication with organizations

sales activity management system

management tool to reduce errors improves sale force production and boost customer satisfaction

event-based marketing

offer the right products & services to customers at the right time


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