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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
Q

configurators

A

online product-building. Enable customers to model the product to meet their needs.

26
Q

purchasing profile

A

snapshot of consumers buying habits.

27
Q

cross selling

A

marketing additional related products based on previous purchases

28
Q

up selling

A

business person provides customer opportunity to purchase higher-value related products or services in place of or alongside their initial purpose.

29
Q

bundling

A

form of cross selling. A group of products/service are sold at a lower price than their combined individual prices.

30
Q

campaign management applications

A

send the right messages to the right people through the right channels.

31
Q

loyalty programs

A

recognizes customers who repeatedly use a vendors products or services.

32
Q

on premise systems

A

purchased systems from a vendor then installed the systems on site. Expensive and time consuming.

33
Q

on demand systems

A

hosted by an external vendor in the vendors data center. Utility computing or software-as-service.

34
Q

mobile CRM

A

mobile medium for companys sales, marketing, and customer service

35
Q

open source CRM systems

A

CRM systems whose source code is available to developers and users.

36
Q

supply chain

A

flow of materials information, money, and services from raw material suppliers, through factories and warehouses to the end customers.

37
Q

supply chain visibility

A

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
Q

inventory velocity

A

time range in which a company can deliver products and services after receiving the required materials.

39
Q

three segments of supply chain

A

1) Upstream- sourcing or procurement from external suppliers occurs.
2) Internal- packaging, assembly, and manufacturing
3) Downstream- external distributors distribute materials

40
Q

reverse logistics

A

returning damaged or unwanted goods.

41
Q

material flows

A

physical products, raw materials, supplies, etc

42
Q

reverse flows

A

reverse logistics

43
Q

product life cycle

A

from dirt to dust.

44
Q

information flows

A

data related to demand, shipments, orders, returns, and schedules and any changes in the data.

45
Q

financial flows

A

money transfers, payments, credit card info and authorization, payment schedules, etc.

46
Q

supply chain management (SCM)

A

plans, organizes, and optimizes various activities performed alongside the supply chain.

47
Q

interorganization information systems (IOS)

A

information flows among two or more organizations.

48
Q

push model (make to stock)

A

production begins with forecast, produces what was forecasted, then sells “pushes” it on to consumers.

49
Q

pull model (make to order)

A

production begins with customer order

50
Q

demand forecast

A

demand for a product is influenced by a number of factors

51
Q

bullwhip effect

A

erratic shifts in orders up and down the supply chain.

52
Q

vertical integration

A

business strategy in which a company purchases its upstream suppliers to ensure that its supplies are available as soon as they are needed.

53
Q

just-in-time inventory system

A

attempts to minimize inventories. Delivers precise number of parts that will be used in work-in-process.

54
Q

vendor managed inventory

A

when the supplier (instead of the retailer) manages the entire inventory process for a particular product or group of products.

55
Q

electronic data interchange

A

communication standard that enables business partners to exchange routine documents (such as purchasing orders) electronically. Implies standards when communicating with business partners.

56
Q

procurement portals

A

automate the business process involved in purchasing products between a single buyer and multiple suppliers.

57
Q

distribution portals

A

automate the business processes involved in selling from a single supplier to multiple buyers.

58
Q

CRM Process

A

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
Q

types of CRM systems

A

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
Q

problems with supply chain

A

Poor customer service, poor quality, high inventory costs, and loss of revenues. Bullwhip effect.

61
Q

solutions to supply chain problems

A

Using/building inventories via Just-In-Time inventory system, and information sharing via Vendor Managed Inventory.

MIS final (4 decks)

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