10.1 Customer relationship management (CRM), Exam Questions and answ| Questions with 100% Correct Answers | Verified | Latest Update. ers/
15 views 0 purchase
Course
Customer Relationship Management
Institution
Customer Relationship Management
10.1 Customer relationship management
(CRM), Exam Questions and answers/
LO 10.1 Describe customer relationship management (CRM) and its role in supporting business
operations. - -Customer relationship management (CRM) a means of managing all aspects of a
customer's relationship with an orga...
10.1 Customer relationship management (CRM) , Exam Questions and answers/ LO 10.1 Describe customer relationship management (CRM) and its role in supporting business operations. - ✅✅ -Customer relationship management (CRM) a means of managing all aspects of a customer's relationship with an organisation t o endeavour to increase customer loyalty and retention, and the organisation's profitability LO 10.2 Describe the three phases of CRM. - ✅✅ -1. Reporting helps organisations identify their customers across other applications 2. Analysis helps organisations segment their customers into categories, such as best and worst customers 3. Predicting helps organisations make predictions regarding customer behaviour LO 10.3 Describe, with examples, the types of CRM systems. - ✅✅ -1. Operational CRM supports traditional transactional processing for day -to-day front -office operations or systems that deal directly with the customers 2. Analytical CRM supports back -office operations and strategic analysis and includes all systems that do not deal directly with the customers 3. Collaborative CRM systems incorporate external contacts such a vendors, suppliers and distributors LO 10.4 Identify the benefits of CRM. - ✅✅ -1. helps companies to understand their customers better 2. helps compani es to operate more efficiently and effectively in supporting customer needs. 3. enables companies to treat their customers as individuals, gaining important insights into their buying preferances and shopping behaviours.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Terryl. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
