Define the following terms:

Customer Relationship Management -strategies, processes and policies used by businesses to build,
maintain and maximize the long-term value of customer relationships. Helps businesses to understand
and respond to customers changing needs. Emphasize positive, meaningful and long-term
communication and interaction with customers. Involves the collection of customer information to draw
conclusions about the customers needs and wants as well as predict the customers loyalty and value in
the future.

Customer Experience Management- is the collection of processes a company uses to track, oversee and
organize every interaction between a customer and the organization throughout the customer lifecycle.

Customer-a person or organization that buys goods or services from a store or business.

Centric Strategy-an approach to doing business that focuses on providing a positive customer
experience both at the point of sale and after the sale in order to drive profit and gain competitive
advantage.

Touch Points-interactions between businesses and customers that occur during the customer's journey.

Continuous Improvement- the ongoing improvement of products, services or processes through

incremental and breakthrough improvements.

Business Process Management -is the discipline in which people use various methods to discover,
model, analyze, measure, improve, optimize, and automate business processes.

Information Management System-an information system used for decision-making, and for the
coordination, control, analysis, and visualization of information in an organization.

What are the goals of customer relationship management? To maximize the value and effectiveness of
all customer touch points(touch points-all the opportunities that businesses must connect with
customers and reinforce their brand value), to provide outstanding service to customers, maximize
customer satisfaction, attract and retain loyal customers, to increase business profit, to develop a
competitive advantage

Why is it important to formulate a CRM strategy prior to implementing CRM processes and tools?-

A CRM strategy must include plans for systems and data integration. In order to ensure all your teams
work with the same customer information, you must integrate your platforms and software. ... Proper
integration and data flow makes your software run smoothly and keeps all your data up to date.

What are common CRM processes?

1. Generate brand awareness

2. Acquire leads
3. Convert leads into customers
4. Provide superior customer service
 5. Drive upsells

What is the role of customer experience management in CRM?- Customer experience management is a
strategy used to track, oversee and organise all interactions, in order to help a business focus on the
needs of its customers. This practice is meant to 'close the gap' between the intended customer
experience and the actual customer experience.

How do managers use customer information in CRM?- find new customers, win their business, and keep
them happy by organizing customer and prospect information in a way that helps you build stronger
relationships with them and grow your business faster. CRM systems start by collecting a customer's
website, email, telephone, and social media data — and more — across multiple sources and channels.

What role does corporate culture play in CRM?- A dysfunctional corporate culture can negatively affect
customer service and your business's reputation, but a healthy, positive culture can improve your
relationships with your current customers and might even help you attract new clients.

What is the impact of organizational structure on CRM?- all business connected things have to know the
same answers and goals. The answers and goals cannot conflict with each other.

What is the relationship between CRM and continuous improvement?- An effective CRM program is a
culture of continuous improvement. The CRM implementation gives you the basis, but there are always
ways you can improve the performance of your CRM system. Constant improvement is important to a
successful CRM program because the world never stands still.

How can CRM benefit a business?

1. Enhance better customer service

2. Facilitates discovery of new customers
3. Increases customer revenues
4. Helps the sales team in closing deals faster
5. Enhances effective cross and up-selling of products
6. Simplifies the sales and marketing process

Answer this ethical question: Your employer has a CRM system that includes personal information for all
customers. To protect customers’ privacy, the company has a policy that only allows designated users to
access information. You are one of those users. One day, the creative director, Everett, asks you to look
up some information about a customer. He tells you that it’s for business reasons, but he doesn’t give
you any more details than that. Everett is not a designated user, but he is the head of a department, so
you feel that you should help him. However, you aren’t sure why exactly he needs this customer
information. What should you do? -Don’t give him the information, because if he cant do it himself, then
he probably shouldn’t be doing it at all. Tell him that since he is the head of an apartment he should be
able to access the content himself ,because customer privacy is of the utmost importance.

Define the following terms:

client intelligence-process of gathering and analyzing information regarding customers, and their details
and activities, to build deeper and more effective customer relationships and improve decision-making
by vendors.

cross-selling- when you sell customers offerings that complement or supplement the purchases they've
already made.

up-selling- a sales technique where a seller invites the customer to purchase more expensive items,
upgrades, or other add-ons to generate more revenue.

relationship mapping-a visual representation of a client's organizational chart that gives an idea of the
kind of connections and influences each entity has over another. A relationship mapping is the ideal
business tool in the hands of an expert account manager.

personalization-consists of tailoring a service or a product to accommodate specific individuals,

sometimes tied to groups or segments of individuals.

segmentation- the process of dividing a target market into smaller, more defined categories. It
segments customers and audiences into groups that share similar characteristics such as demographics,
interests, needs, or location.

Clustering- the task of grouping a set of objects in such a way that objects in the same group are more
similar to each other than to those in other groups

Answer the ethical question: Jamie works for a marketing firm who was just hired to conduct a survey to
learn what 20- to 30-year-old women want in a nutrition bar. The research team has written a 20-
minute survey and sent Jamie and his coworker Elisa, to the mall to interview young women. When
Jamie tells shoppers how long the survey will take, they don’t want to participate. Elisa doesn’t seem to
be having trouble getting people to participate in the survey during their lunch break, so Jaime asks how
she does it. Elisa tells Jaime that she tells people the survey will take only five minutes. When the people
realize they have already spent ten minutes with the survey, she tells them they are almost finished. Do
you think Elisa’s behavior is ethical? Why or why not? How should Jaime handle this? You never know
whats ethical and whats not ethical in a business because something that may be illegal in one business
may be legal in another business. Or they may try to validate their unethical behavior by saying that it’s
not illegal. But all in all, her behavior is unethical. Lying to customers, and then the customers finding
out, can result in less customers, and a bad public image. Jamie should just decide to intentionally keep
out the fact that the survey is 20 minutes, that way he’s not lying or being unethical.

EQs /Describe the use of technology in customer relationship management- Technology serves as the
partner of CRM in order to cater the needs of the customers. It makes their relationship meaningful in a
way that the company understands what the customers need. ... It gathers information from the
customers through the use of internet that makes communication faster.

This helps with the wellbeing of all of the other businesses that may hope to succeed the main purpose
being to get more customers through customer relations that way if you build a better relationship with
your customers they will want to come back therefore boosting your customer revenue. Boosted
customer revenue can mean the difference between success or failure in a company . customer
relationship management technology also know as crmt is know as the act of developing software that is
used to do research on the different aspects of your customers to see what your customer likes to see
what you need to but so that whatever your customer wants to buy it is suite to their direct needs. If
something is suited to a customers direct needs the customer will want to come back, which again goes
back to the fact of money. If the customer want you you have that more money that you are going to
make if the company this is why we need customer service because if we have god customer service
then that means that we have good customer relationship whichin turn leads to more money. Money is
an essential asset in a company seein as it’s the whole reason that you get intobsuiness anywao