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MIS final > 11 > Flashcards

11 Flashcards

1
Q

Taste Profiling

A

ads targeted directly at users, suggesting products and contents they may like.

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2
Q

Persuasion Profiling

A

figures out how users think. Different pitches persuade different audiences.

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3
Q

Customer Relationship Management CRM

A

customer focused, customer driven organizational strategy. Organizations concentrate on assessing customers’ requirements for products and services and then providing high-quality responsive service.

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4
Q

Customer Churn

A

when an organization inevitably loses a percentage of its repeat customers.

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5
Q

CRM strategy

A

how organization implements customer relations

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6
Q

CRM systems

A

information systems designed to support an organizations CRM strategy.

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7
Q

customer touch points

A

the organizations various interactions with customers. Email, websites, comm

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8
Q

360 degree view of customer

A

complete data set of each customer via Data consolidation.

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9
Q

Data Consolidation

A

providing concrete data and info about customers.

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10
Q

Collaborative CRM

A

provides efficient interactive communication with the customer throughout the entire the organization. Integrates comm between organization and customers through all aspects (mktg, sales, customer support, etc).

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11
Q

Two Components of CRM systems

A

operational CRM and analytical CRM.

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12
Q

Operational CRM systems

A

support front-office business processes (processes that directly interact with customers ie sales, mktg, service.)

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13
Q

analytical CRM systems

A

provide business intelligence by analyzing customer behavior and perceptions.

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14
Q

front office business processes

A

processes that directly interact with customers ie sales, mktg, service

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15
Q

customer facing CRM applications

A

an organizations sales, field service, and customer interaction center reps interact directly with customers.

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16
Q

customer service and report

A

automate service requests, complaints, returns, info requests

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17
Q

Customer interaction centers

A

organizational reps use multiple channels to communicate with customers

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18
Q

Call centers

A

centralized office that receives and transmits large volumes of requests by telephone.

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19
Q

Outbound telesales

A

the sales team uses a call list to collaborate with customers in discussing products and services that can satisfy customers’ needs and generate sales.

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20
Q

inbound teleservice

A

customers call company to inquire about products, place orders, etc.

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21
Q

Contact Management System

A

tracks all contacts that have been made with a customer, purpose of each contact, and follow up if necessary. Eliminates any duplicates.

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22
Q

Sales lead tracking system

A

lists potential customers who have purchased related products.

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23
Q

Sales forecasting system

A

estimating future sales

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24
Q

Product Knowledge System

A

source of info regarding products and services.

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25
configurators
online product-building. Enable customers to model the product to meet their needs.
26
purchasing profile
snapshot of consumers buying habits.
27
cross selling
marketing additional related products based on previous purchases
28
up selling
business person provides customer opportunity to purchase higher-value related products or services in place of or alongside their initial purpose.
29
bundling
form of cross selling. A group of products/service are sold at a lower price than their combined individual prices.
30
campaign management applications
send the right messages to the right people through the right channels.
31
loyalty programs
recognizes customers who repeatedly use a vendors products or services.
32
on premise systems
purchased systems from a vendor then installed the systems on site. Expensive and time consuming.
33
on demand systems
hosted by an external vendor in the vendors data center. Utility computing or software-as-service.
34
mobile CRM
mobile medium for companys sales, marketing, and customer service
35
open source CRM systems
CRM systems whose source code is available to developers and users.
36
supply chain
flow of materials information, money, and services from raw material suppliers, through factories and warehouses to the end customers.
37
supply chain visibility
the ability for all organizations in a supply chain to access relevant data on purchased materials as these materials move through their supplier’s production processes to their receiving docks.
38
inventory velocity
time range in which a company can deliver products and services after receiving the required materials.
39
three segments of supply chain
1) Upstream- sourcing or procurement from external suppliers occurs. 2) Internal- packaging, assembly, and manufacturing 3) Downstream- external distributors distribute materials
40
reverse logistics
returning damaged or unwanted goods.
41
material flows
physical products, raw materials, supplies, etc
42
reverse flows
reverse logistics
43
product life cycle
from dirt to dust.
44
information flows
data related to demand, shipments, orders, returns, and schedules and any changes in the data.
45
financial flows
money transfers, payments, credit card info and authorization, payment schedules, etc.
46
supply chain management (SCM)
plans, organizes, and optimizes various activities performed alongside the supply chain.
47
interorganization information systems (IOS)
information flows among two or more organizations.
48
push model (make to stock)
production begins with forecast, produces what was forecasted, then sells “pushes” it on to consumers.
49
pull model (make to order)
production begins with customer order
50
demand forecast
demand for a product is influenced by a number of factors
51
bullwhip effect
erratic shifts in orders up and down the supply chain.
52
vertical integration
business strategy in which a company purchases its upstream suppliers to ensure that its supplies are available as soon as they are needed.
53
just-in-time inventory system
attempts to minimize inventories. Delivers precise number of parts that will be used in work-in-process.
54
vendor managed inventory
when the supplier (instead of the retailer) manages the entire inventory process for a particular product or group of products.
55
electronic data interchange
communication standard that enables business partners to exchange routine documents (such as purchasing orders) electronically. Implies standards when communicating with business partners.
56
procurement portals
automate the business process involved in purchasing products between a single buyer and multiple suppliers.
57
distribution portals
automate the business processes involved in selling from a single supplier to multiple buyers.
58
CRM Process
1) Customer Acquisition: the organization solicits prospects from a target population of potential customers. 2) Support and resell: to repeat customers 3) Segment: Customers are then segmented into low-value, and high-value repeat customers.
59
types of CRM systems
o On premise- purchased systems from a vendor then installed the systems on site. Expensive and time consuming. o On demand- hosted by an external vendor in the vendors data center. Utility computing or software-as-service.
60
problems with supply chain
Poor customer service, poor quality, high inventory costs, and loss of revenues. Bullwhip effect.
61
solutions to supply chain problems
Using/building inventories via Just-In-Time inventory system, and information sharing via Vendor Managed Inventory.

MIS final (4 decks)

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