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CH-21 PPT - Chapter 21 Customer Relationship Marketing(CRM...

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© 2011 Robert H. Smith School of Business University of Maryland Chapter 21: Customer Relationship Marketing (CRM) Professor Whitney Fall 2011
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© 2011 Robert H. Smith School of Business University of Maryland Customer Relationship Management Increasingly Important to Firms Most successfully achieved when done by firms with a customer-centric philosophy that permeates all functional areas. Company-wide business strategy designed to optimize: Profitability Revenue Customer satisfaction Attempt to understand customers to develop better customer acquisition & retention strategies.
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© 2011 Robert H. Smith School of Business University of Maryland Customer Relationship Management Learn, Knowledge Management, Empowerment, Interaction
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© 2011 Robert H. Smith School of Business University of Maryland Customer Databases Only useful if consistent and accurate. Use information technology to capture, store and integrate important information Phone conversations, e-mail communications, website visits, tracking social media, online purchases, etc. Useful information: Satisfaction & Complaints Purchasing habits » Recency » Frequency » Purchase Amount » Market Basket Analysis Transaction methods Demographics
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© 2011 Robert H. Smith School of Business
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