MIS Final chapter 11
analytical CRM systems analyze customer data for a variety of purposes, including:
-designing and executing targeted marketing campaigns -increasing customer acquisition, cross selling, and up selling -providing input into decision relating to products and services (pricing and product development) -provding financial forecasting and customer profitability analysis
inter-organizational information systems (IOS) enables the partners to perform the following:
-reduce the costs of routine business transactions -improve the quality of the information flow by reducing or eliminating errors -compress the cycle time involved in fulfilling business transactions -eliminate paper processing and its associated inefficiencies and costs -make the transfer and processing of info easier for users
two MAIN SOURCES of problems along the Supply Chain:
-uncertainties & -the need to coordinate multiple activities, internal units, and business partners
Who wants to improve efficiency in the manufacturing of its major products?
3M
how does a push model begin?
Begins with a forecast, which is a simply and educated guess as to customer demand
Data consolidation also is critical to an organization's ___ efforts.
CRM
Bob has been having problems with his supply chain management. His routine business transactions cost more than his competition; he still uses paper and has noticed a problem of an increase in errors in the information flow amongst partners. What could eliminate these problems and make his supply chain management more efficient?
IOS
A system in which a supplier delivers the precise number of parts to be assembled into a finished product at precisely the right time
Just In Time inventory system
what is customer churn
a certain percent of lost customers that an organization will inevitably lose
Nike Id in an example of:
a configurator
Epicor is an example of"
a customer interaction center
customer interaction centers (CIC)
a customer service and support center. that consists of call center, outbound telesales, and inbound teleservice
what is a customers lifetime value
a customer's potential revenue stream over a number of years
A great example of a company with a low-end system that uses CRM to recommend a specific item to their customer is ______.
amazon
high end CRM system is _____
an enterprise with few large customers
low end CRM system is ______
an enterprise with many small customers
Caterpillar Inc is an example of
an operational CRM system
analytical CRM systems
analyze customer data for a variety of purposes
What does customer-touching mean?
applications and technologies interact with customers and they usually help themselves
Which of the following is a major challenge that managers face in setting accurate inventory levels throughout the supply chain?
bullwhip effect
If Johnny were to be selling his desktop, monitor, and speakers as an all in one for a lower price instead of separately it would be considered?
bundling
a cable company would most likely use what sales strategy?
bundling
Due to marketing through technology, customer relationship is more impersonal, in order to return to personal marketing companies should?
business market to each customner individually by using the CRM approach
The most well-known CIC is ___, which allows companies to respond to compliants.
call center
_______ provide effective and efficient interactive communication with the customer throughout the entire organization.
collaborative CRM systems
what systems are included in the Sales Force Automation?
contact management system sales lead tracking system sales forecasting system product knowledge system configurators
Josh purchased products for his company a few weeks ago. He turned around and sold them to another company by marketing the product out. What is this called?
cross selling
The practice of marketing additional related products to customers based on a previous purchase.
cross selling
three factors of marketing:
cross selling, up-selling, and bundling
The optimal result of the organization's CRM efforts is to maximize the number of high-value repeat customers while minimizing _____?
customer churn
analytical CRM consist of:
customer data warehouse data mining decision support business intelligence OLAP
areas where customers directly interact with the organization:
customer facing applications
two major components of operational CRM systems
customer facing applications customer touching applications
the crm approach is design to achieve:
customer intimacy
CRM stands for
customer relationship management
At Netflix _____ occurs only when customers deal with Netflix employees.
customer service
customer facing applications consist of:
customer service and support sales force automation (sfa) marketing campaign management
Any interaction between a customer and an organization:
customer touch point
a check-in kiosk at a hotel would be what type of CRM application?
customer touching application
Important technologies in analytical CRM systems include data warehouse, ___________, decision support, and other business intelligence technologies
data mining
all of the Supply Chain Problems include:
demand forecast bullwhip effect poor customer service poor quality product high inventory costs loss of revenues
two basic types of corporate portals:
distribution and procurement
operational CRM systems provide what benefits?
efficient, personalized marketing, sales, and service a 360 degree view of each customer the ability of sales and service employees to access a complete history of customer interaction with the organization, regardless of the touch point
info technology support for Supply Chain Management include:
electronic data interchange (EDI) extranets portals and exchanges
Which of the following is(are) benefit(s) to Open-Source CRM systems?
favorable pricing wide variety of applications easy to customize
Operational CRM systems support:
front-office business processes
Boing is an example of
high end CRM system
Personal marketing is marketing to each ___________, rather than to a mass of people.
individual
why is data consolidation critical to an organization's CRM efforts?
it must manage customer data effectively
the solutions to supply chain problems involve using what inventories:
just in time (JIT) information sharing vendor-managed inventory (VMI)
customer relationship management consist of:
lifetime value customer churn CRM strategy verses CRM systems low end CRM systems verses high end CRM systems
the pull model is known as
make-to-order (companies _____ supplies from suppliers based on customer orders )
the push model is known as
make-to-stock (business ______ products to customers)
internal structure of supply chain is the
manufacturers
the flows in the supply chain are the
materials, info, financial
Since it is inevitable that all companies will, at some point, experience customer churn what should the results of the the organizations CRM be?
maximize the number of high-value repeat customers while minimizing customer churn
upstream structure of supply chain are the
orders, info, payments, returns
five basic components of supply chain management:
plan source make deliver return
downstream structure of supply chain are the
products, services, info
"getting the customer to come to you" is an example of which model?
pull model
a ________ is a snapshot of a consumer's buying habits that may lead to additional sales through cross selling, up selling, and bundling (look this up to make sure correct)
purchasing profile
______ are the largest generators of revenue
repeat customers
The component of an operational CRM system that automatically records all the aspects in a sales transaction process is known as_____.
sales force automation
_____ is the best known on-demand CRM vendor
salesforce
customer touching applications consist of:
search and comparison capabilities technical and other info and services customized products and services personalized web pages FAQs email and automated response loyalty programs
Before CRM's were commonly used, customer data was stored in places called _____.
silos
Customer relationship management has become almost real time due to what?
social media
open source CRM Systems is also known as
sugarCRM
Which of the following refers to flowing materials and services through warehouses and plants to the final customer?
supply chain
Distributed computing refers to what?
systems in different loctions communicating to complete a task
You're browsing online for a Christmas gift for your little sister who loves to play with dolls. After looking through different options, you decide to take a break and log onto Facebook. To the side of your news feed is an advertisement for the latest Barbie. You click on it and find the perfect gift. How did Facebook know to put this ad on your news feed?
taste profiling
The customer relationship has become even more impersonal with the rapid growth of the what?
the internet and the world wide web
reasons why the customer relationship with vendors has become more interpersonal, over time:
the internet grew quickly ppl move from farms to cities consumers became mobile supermarkets and department stores proliferated
Customer interaction centers (CIC) are where organizational representatives use:
the web, telephone, fax, face to face interactions
On a typical supply chain, which tier supplier produces the most basic product?
tier 3
the components of supply chains consists of
tiers of suppliers flows in the supply chain
Why are supply chains critical to modern organizations?
to manage the organization and processes that create and deliver products, information, and services to end customers.
overall goal of CRM:
to maximize the lifetime value of a customer
A customer walks in to Best Buy to purchase a television. The display of the normal television that the customer intends to buy is right beside the nicer, HD televisions. This is so that the customer may see the HD television and want to buy it despite its more expensive cost. This is an example of:
upselling
the structure of Supply Chain includes
upstream, internal, and downstream
on-demand CRM Systems act as:
utility computing and software as a service
Potential problems with on-demand CRM include all of the following:
vendor could prove unreliable difficult to modify hosted software may be difficult to integrate hosted software with existing software in the organization
extranets include:
virtual private network (VPN) a company and its dealers, customers, or suppliers an industry's extranet joint ventures and other business partnerships
Supply chains are ______ of the overall strategies of many modern organizations.
vital components