Questions and Answers of Customer Relationship Management

Provide an example, using a recent experience, of information flow between collaborative, operational, and analytical functional areas. Refer to Figure 6.3.
Search a list rental source, select a list, and create a scenario for how the selected list could be used in a customer acquisition effort.
Provide an example of how IoT adoption could contribute to an increase in Customer Equity.
Why is an LDM critical to the creation of an ODS, a DW, or a data mart?
Provide two examples of how a data mart could support a CRM effort.
Give an example of the type of variables a catalog sales organization such as Lands’ End or L. L. Bean would keep in a DW.
Using a real-life experience, define how an ODS can be utilized in support of the organization’s CRM effort.
Define the characteristics and technology used to sustain an organization’s mass-communication activity in support of its CRM effort. Do the same for database marketing activity and integrated
Provide a scenario that demonstrates device, data, and process integration methods.
Fill out a form requesting information from a company. Leave out some address information (e.g., directional, suffix such as boulevard/street/road/avenue), misspell your first name if common (e.g.,
Give an example of how “householding” data can enhance a B2C, B2B, and B2B2C CRM effort.
Select an organization that you purchase products or services from and identify the organization’s touch points. Are they effective? Can they be improved? If so, how?
The larger the organization, the more likely disparate data will occur. What are the implications of disparate data in an organization relative to the CRM effort?
What integration challenges does an organization face with social media interaction?
Why would an organization deploy a data lake?
Why is big data sometimes referred to as the three “V’s”?
Why would an organization maintain data on a customer but suppress that customer from any CRM effort?
Why should organizations enhance their data with secondary information?
What is the purpose of customer linkage data?
Why is it important to understand the extent to which data is “populated”?
Explain how data latency can inhibit an organization’s CRM effort with a customer.
A manufacturer of computer chips has been unable to convince her dealers to give her the names and addresses of the end consumer. She understands CRM and wants to implement a plan that includes both
Select an organization and identify its value chain members, at least by function. Identify the critical CRM requirements each value chain member has in the company’s CRM efforts.
At CRM adoption, a major packaged goods manufacturer has instructed its brand managers to reevaluate their advertising spending in an effort to shift funding from mass advertising to interactive
Select an organization and identify advantages and disadvantages relative to CRM effectiveness based on its size.
Why would firms such as FedEx and UPS be critical to an organization’s CRM efforts?
What challenges must a silo-structured organization overcome when attempting to implement a CRM environment?
What benefits relative to CRM effectiveness might an organization give up if it outsources its telemarketing function?
What are some of the challenges a manufacturer would face with the forward part of its value chain when implementing a CRM strategy with the end consumer?
1. Define the three major forms of CRM. How might each CRM form apply to a pet food retailer?
2. Is social CRM a distinct form of CRM or something else? Explain your answer.
3. Provide a summary of core changes to CRM over time. What are the major differences between CRM 1.0 and CRM 2.0?
4. Name the common misunderstandings about CRM. How might managers overcome these?
5. How would you define CRM? What are the implications of your definition for an organisation that implements CRM with these properties?
6. Who are the major CRM constituencies? Do you foresee any major tensions between CRM constituencies? How might managers overcome such tensions?
7. How might different contexts influence CRM deployments?
8. Outline the three comprehensive models of CRM.
1. What is a customer-supplier relationship? Why are customer-supplier relationships important?
2. What are the characteristics of customer-supplier relationships? How might these apply in the banking industry?
3. What are companies’ motivations to start and develop customer relationships? How might these differ between the IT industry and the retail industry?
4. What are companies’ motivations to avoid or dissolve customer relationships? How might the level of dependency the company has on the customer influence these motivations?
5. What are customers’ motivations to start and develop company relationships? How might these differ between the construction industry and an online store such as Amazon?
6. What are customers’ motivations to avoid or dissolve company relationships?
7. What are the features of five major relationship management theories?
1. What are the core elements of a customer journey? How might a customer journey differ between an individual customer looking to buy a refrigerator versus a company looking to buy a new IT system?
2. What is customer acquisition? What are the types of new customers companies can consider as targets for their customer acquisition activities?
3. What is the Conversion Model? How does it relate to customer acquisition?
4. What prospecting approaches can companies use to recruit new customers? How might these differ between B2C and B2B contexts?
5. What operational CRM functionality can be used for customer acquisition?
6. What are major key performance indicators (KPIs) that companies can use to evaluate their customer acquisition activities?
1. Define customer retention and customer development.
2. Describe how companies can measure customer retention and the issues they need to consider when doing so.
3. Describe the options that companies can use to enhance customer retention by increasing customer engagement.
4. Describe the options that companies can use to enhance customer retention by increasing switching costs.
5. Describe why companies choose to end some customer relationships and the approaches they can use to do so.
6. Describe the role of CRM in customer retention, customer development, and in ending customer relationships.
7. Describe the common KPIs that companies use to assess customer retention, customer development, and customer termination.
1. What is customer retention? What is customer development? What are similarities and differences between both concepts?
2. How can companies measure customer retention? What issues might they need to consider in this regard?
3. What options do companies have to enhance customer retention by increasing customer engagement?
4. What options do companies have to enhance customer retention by increasing switching costs?
5. Why do companies choose to end some customer relationships? What approaches can they use to do so?
6. What is the role of CRM in customer retention, customer development, and in ending customer relationships?
7. What are the common KPIs that companies use to assess customer retention, customer development, and customer termination?
1. Define customer perceived value.
2. Differentiate between value-in-exchange and value-in-use.
3. Describe the nature of the company’s value proposition and its role in creating customer perceived value.
4. Describe how the company can use the marketing mix to convey customer perceived value.
5. Describe how the company’s operations relate to the provision of customer perceived value.
1. What is customer perceived value? What are the two most common ways to conceptualise customer perceived value? Which one of these might be more relevant to a retail outlet? Explain your answer.
2. What is the difference between value-in-exchange and value-in-use? What are the implications of each idea of value for a bank? Explain your answer.
3. How does the company’s value proposition create customer perceived value? Use an example of a company’s value proposition with which you are familiar to illustrate your response.
4. How can a company use the marketing mix to convey customer perceived value?
5. How do the company’s operations relate to the provision of customer perceived value?
1. Define a customer portfolio, a customer segment, and customer portfolio management (CPM).
2. Describe how the company’s vision, mission and objectives relate to CPM.
3. Describe how the company’s risk appetite relates to CPM.
4. Describe the main reasons for analysing the company’s customer portfolio.
5. Describe the common portfolio models useful for CPM.
1. What is a customer portfolio? How does this concept differ from a customer segment?
2. What is customer portfolio management (CPM)? What are the benefits of CPM? What are the costs?
3. How might a company’s vision, mission, and objectives affect CPM? How might a company’s risk appetite influence CPM?
4. What are the main tasks that companies seek to accomplish through analysis of customer-related data?
5. What sorts of customer portfolio analysis models can companies select from?
1. Define marketing automation (MA).
2. Describe the benefits and costs of MA to companies.
3. Describe the types of marketing campaigns possible with MA software.
1. What is marketing automation (MA)? Why might a company choose to adopt MA?
2. Describe the benefits and costs of MA to companies? What recommendations would you make to a company considering MA?
3. How might companies use MA software? What functionality might support a company operating in a B2C setting? How might this differ for a company operating in a B2B setting?
1. Define sales force automation (SFA).
2. Describe the members of an SFA ecosystem.
3. Describe SFA functionality relevant to salespeople.
4. Describe SFA functionality relevant to sales managers.
5. Describe the benefits and costs of SFA.
1. What is SFA? Why might a company choose to adopt SFA? Why might they choose to avoid SFA?
2. Who are the main stakeholders in the SFA ecosystem? What vested interests do they have when considering a company’s decision to implement SFA?
3. What are the main functions of a SFA system most relevant to salespeople?
4. What are the main functions of SFA most relevant to sales managers?
1. Define customer service and explain how it relates to service quality and service standards.

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