Customer Relationship Management Concepts Applications And Technologies 5th Edition Daniel D Prior ,Francis Buttle ,Stan Maklan - Solutions

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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 profits.
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 of loyalty?
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. What types of relationships can exist between customers and a company?
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 partners.
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 control be used?
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 think may have occurred.
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 marketing activity. Refer to Table 6.1.
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., Robrt instead of Robert), and then submit the request. Examine this linkage information when the
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 the dealers and the end users. Define an approach that the manufacturer can take to build a CRM
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 marketing. The brand managers are comfortable in their current mode of operation and are resisting this
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.

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Customer Relationship Management Concepts Applications And Technologies 5th Edition Daniel D Prior ,Francis Buttle ,Stan Maklan - Solutions

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