Questions and Answers of Customer Relationship Management

Most agree that CRM systems must do what three things well?
CRM systems enable organizations to focus on relationships as opposed to transactions. What is meant by this?
Comment on the correctness or incorrectness of the following statement: “Companies should make it their goal to attract the greatest number of customers. After all, every customer counts, and
Comment on the correctness or incorrectness of the following statement: “CRM is concerned with managing one’s current customer base and is not concerned with the process of acquiring new
CRM is said to be the major bulwark used in “defensive marketing.” What is meant by “defensive marketing,” and how does it differ from offensive marketing?
CRM focuses on building relationships. There are actually three types of relationships that exist among acquaintances, friends, and partners. What are the characteristics of each of these types, and
Why are so many companies and organizations developing CRM systems today?
According to Peppers and Rogers, there are four basic steps in CRM to establish learning relationships with your customer. What are these steps? In your answer, be sure to describe what a learning
What is the CRM “ecosystem”?
What is multichannel marketing?
What is the difference between a call center, contact center, customer interaction center and customer engagement center?
What are the characteristics and functions of today’s customer engagement center?
Define the following important CRM terms: touch points, 360-degree view, customer lifetime value, customization, personalization, RFM.
It is said that the companies that will benefit most from CRM systems are those that have a “steep skew” and those whose businesses are characterized by “lost for good” rather than “always
Describe any exceptionally good or bad experiences that you have had with company contact personnel in person, over the phone, or over the Internet.
Are there any companies, stores, or brands that you have contact with that you think are interested in establishing a relationship with you as opposed to merely selling you a product or service in
Do you belong to any point, loyalty, or frequency programs? Are they effective in maintaining or increasing your business? Do they increase your feelings of loyalty toward the company?
Describe any exceptionally good and/or exceptionally bad company websites.
Some say the origins of CRM are in the concept of relationship marketing. Describe the concept of relationship marketing.
What were the forces that drove marketers to begin to focus so intently on customer relationships?
What led to CRM as we know it today—in other words, what are the roots of CRM?
Mass-marketing techniques worked well for nearly three-quarters of a century. What caused current organizations to change their focus to one-to-one or CRM?
Have organizations experienced success or failure with CRM systems?
CRM has changed as it has developed over time. What are the three phases (or types) of CRM?
Define the customer experience.
What is journey mapping and how can it help the customer experience?
What major challenges do companies encounter when trying to implement a CRM system?
Although still very young, the field of CRM is already being extended both in meaning and practice.How so?
Conduct research on the concept of relationship marketing, and discuss how it has changed the focus of marketers and the field of marketing itself. Compare and contrast the differences between
Conduct research on the two major corporate-wide systems of the 1990s: materials resource planning and enterprise resource planning. Compare and contrast them with today’s CRM systems. Which
Research relational databases and determine why they advanced companies’ ability to integrate customer information.
Contact a company you have a relationship with via multichannels. Contact a competitor in the same industry using the same query and decide which has the better CRM system.
Through research, find an example of a company experiencing success in developing and using its CRM system. Find a company experiencing failure. Compare and contrast the differences in implementation
Through research, find a company or companies that have been able to develop close relationships with their customers via CRM systems. Are their experiences applicable to other companies?
Research examples of companies that have successfully extended their CRM systems to include channel members or partners.
What forces drove marketers to begin focusing so intently on customer and partner relationships?
Describe relationship marketing and its domain.
Relationship marketing is applicable on at least 10 different levels. What are some of these levels?
How does relationship marketing benefit consumers? Companies?
Will relationship marketing benefit every company in its dealings with every customer? If not, which companies would benefit most from relationship marketing efforts?
Trust and commitment are central to successful relationship marketing. What is meant by trust and commitment, and why are they so important to long-term relationships?
In order to build trust, many companies are starting to develop Statements of Purpose. What are Purpose Statements and what is their value?
Is there a difference between relationship marketing and customer relationship management?
It can be argued that marketing is becoming so important that its practice must be decentralized throughout all departments, not just the marketing department. What are some of the causes of this?
How will CRM affect traditional company organization?
Research how direct mail and direct marketing helped influence the creation of CRM.
Companies such as Procter & Gamble have started to organize around customers. What other companies have done so, and what have been their experiences?
We have discussed CRM systems with a focus on a company and its customers. Describe the value of CRM systems between a manufacturer and its:a suppliers;b wholesalers;c retailers;d sales force;e
Develop a list of companies (or types of companies) for which CRM systems would be extremely valuable. Develop a list of companies (or types of companies) for which CRM systems would not have much
How can companies develop social bonds with their customers? How can companies develop structural bonds with their customers?
What companies would classify you as a True Friend? Butterfly? Barnacle? Stranger? What could the companies that classify you as a Butterfly, Barnacle, or Stranger do, if anything, to make you a True
Companies used to organize and manage around the 4 Ps: product, place, promotion, and price.Today, some suggest that companies should organize and manage around the 4 Cs: customer value, lower costs,
What are the different types of data? Why is having less data sometimes better than having more data?
What are the variables required to perform an RFM analysis?
Explain the differences in types of data across ODSs, DWs, and DMs.
A consumer buys a computer online from Dell.a. What types of data and information would Dell place in an ODS? How long would it be maintained in the ODS?b. What types of information would Dell place
Explain the difference between predictive analytics and prescriptive analytics. Provide an example of each with the integration of event streaming.
Give an example of how an organization may use household data and individual data as part of its CRM strategy.
Based on your own experience, identify the different touch points that an organization has created for you to interface with it.
Select an organization and attempt to identify aging rules for the data it may have captured on consumers.
Select an organization that you do business with frequently. Based on the data the organization has collected on you, explain what data mining opportunities are available to the organization. Explain
Create 250 rows of data in Excel that represent the RFM variables. Randomize the variables. Run sorts per the RFM discussion and break the results into respective cells.
Create a decision tree scenario for an organization.
Create a scenario in which a customer generates data and the organization captures that data, analyzes that data and interacts with the customer, all in real-time.
Loyalty programs have been around for decades. Some are getting old and tired. What are some of the ways companies can liven up their loyalty programs?
Why have loyalty programs—also referred to as frequency, points, or rewards programs become so popular?
One of the reasons that companies focus on developing loyal customers is that long-term customers are felt to be more profitable. Explain why many propose a strong correlation between loyalty and
What are some of the intervening variables that can exist between satisfaction and the creation of loyalty between a company and its customers?
A customer’s strong feelings of liking and preference toward a brand may be based on one of four levels of meaning the brand has for them. What are these levels of meaning?
Explain what is meant by Figure 9.2.
Researchers today have still not developed a definition of loyalty upon which everyone agrees. There are at least three different definitions of loyalty in use today. What are these three definitions
As a measure of the bond that exists between a customer and a company, satisfaction was previously seen as key. However, some view company–customer relationships based only on satisfaction as weak.
Customer complaints are usually viewed as bad things companies should avoid. What are the benefits complaining customers can provide a company?
Are there any products or brands that you are satisfied with and yet are not predisposed toward loyalty?
What brands can you think of that have a strong personality for college students, young adults, adults in their thirties, and retired seniors?
What brands can you think of that have a strong personality for infants, toddlers, preschool children, children ages 6 to 10, preteens, and teenagers?
Pick a brand or product that you feel strongly toward and describe the benefits that it provides you in functional, emotional, and internal benefit terms.
Describe any products, brands, or companies that you deal with that are best described in terms of true loyalty, spurious loyalty, latent loyalty, and no loyalty.
Describe any products, brands, or companies that you deal with that are best described in terms of behavioral loyalty, affect loyalty, and situation-specific loyalty.
Which products, brands, or companies have you recommended to your friends? Toward which products, brands, or companies have you spread bad word of mouth? In both instances, explain why.
Toward which companies, brands, or products do you have an acquaintance relationship? Friendly relationship? Partner relationship?
Select a specific SFA, VAR, or CRM OEM and identify their affiliate partners. Define the synergies gained from the respective organization of choice, as well as what is gained from its affiliate
Select a VAR and identify its relationships with OEMs.
Define the major partner relationship management (PRM) solution providers. Compare how their offerings are similar and different.
Search the Internet for several SaaS providers and define their value propositions.
Identify two major SFA original equipment manufacturers (OEMs) and compare the differences in their offerings. Which would you choose and why?
Identify members of a value delivery network that you purchase from as a consumer.
Within the context of sales force control, what is the difference between outcome control and behavior control? In what situation would outcome control be used? In what situation would behavior
What is a core selling (CS) team, and what are the advantages of using a CS team?
How does an affiliate partner differ from a value-added reseller (VAR)? Can they be the same?
What are the advantages of using software as a service (SaaS)?
What are some of the reasons why a salesperson would be reluctant to use an SFA system?
What is sales force automation (SFA)? Define the major components of an SFA system.
What is a reverse value delivery network?
What is a value delivery network?
Why would relational contracts be adopted?
What are major characteristics of a B2B environment relative to CRM efforts?
Make an attempt to create a “Business Moment” scenario, identifying organizational (including value chain partners) end points.
A small hardware business owner with approximately 5,000 customers, both business tradespeople and consumers, wants to create an ODS, a DW, and several data marts. Is this feasible? What would you do?
Discuss your most recent experience interfacing with CT. Elaborate on what you think was happening in the organization with respect to an ODS and a DW. If applicable, discuss any dataprep that you

Showing 1100 - 1200 of 1339