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