Customer Relationship Management Concepts

<p>Decline/Recovery stage (B)</p> Signup and view all the answers

<p>Increased affective attachment and commitment (D)</p> Signup and view all the answers

<p>The typical user experience as a product category matures (A)</p> Signup and view all the answers

<p>It captures individual changes related to age and milestones. (C)</p> Signup and view all the answers

<p>Analyzing customer acquisition and attrition patterns. (B)</p> Signup and view all the answers

<p>Acquisition stage (D)</p> Signup and view all the answers

<p>They manage customer dynamics at various levels of aggregation. (B)</p> Signup and view all the answers

<p>It simplifies the process and is easy to use. (B)</p> Signup and view all the answers

<p>To identify groups of customers with similar needs and desires (B)</p> Signup and view all the answers

<p>Customers slowly leave while new ones enter the firm’s portfolio. (C)</p> Signup and view all the answers

<p>Acquisition stage (D)</p> Signup and view all the answers

<p>Cluster analysis (C)</p> Signup and view all the answers

<p>External market characteristics that indicate the value of a segment (D)</p> Signup and view all the answers

<p>Homogeneous within groups and heterogeneous between groups (C)</p> Signup and view all the answers

<p>Segmentation, Targeting, Positioning (C)</p> Signup and view all the answers

<p>Faster response to customer needs and preferences (C)</p> Signup and view all the answers

<p>Factor analysis (D)</p> Signup and view all the answers

<p>Choosing which segments to target based on attractiveness (C)</p> Signup and view all the answers

<p>Using social media for push content to stakeholders (D)</p> Signup and view all the answers

<p>Permeable and open SMM culture (D)</p> Signup and view all the answers

<p>Decentralized control with all employees involved (D)</p> Signup and view all the answers

<p>By taking advantage of interactive technology for collaboration (D)</p> Signup and view all the answers

<p>Increased control against content manipulation (C)</p> Signup and view all the answers

<p>Limited stakeholder engagement and interaction (D)</p> Signup and view all the answers

<p>Enhanced creativity through employee involvement (B)</p> Signup and view all the answers

<p>Limited user engagement and one-way communication (D)</p> Signup and view all the answers

<p>Precise regulations on who can interact on social media (D)</p> Signup and view all the answers

<p>It encompasses cross-functional collaborations across departments. (B)</p> Signup and view all the answers

<p>The intrinsic value of the product or service's performance (B)</p> Signup and view all the answers

<p>Changing the product's visual design (A)</p> Signup and view all the answers

<p>Departments can communicate freely without specific restrictions (B)</p> Signup and view all the answers

<p>It enhances the overall effectiveness of social media interactions. (B)</p> Signup and view all the answers

<p>Early followers often achieve better outcomes than pioneers. (D)</p> Signup and view all the answers

<p>By fostering cross-departmental collaboration (A)</p> Signup and view all the answers

<p>Low consumer demand (A)</p> Signup and view all the answers

<p>Wide availability of substitute products (D)</p> Signup and view all the answers

<p>Proposition 1 (D)</p> Signup and view all the answers

<p>Differentiation advantages (A)</p> Signup and view all the answers

<p>Switching costs (D)</p> Signup and view all the answers

<p>Technological advancements (C)</p> Signup and view all the answers

<p>Communication good effects (C)</p> Signup and view all the answers

<p>Smaller scale-dependent cost advantages (D)</p> Signup and view all the answers

A business structure where each unit focuses on a specific customer segment and further divides into smaller groups for targeted marketing.

A strategy that involves dividing a market into groups based on shared needs and desires, targeting specific groups, and positioning products to appeal to them.

The process of grouping customers based on similar needs and preferences for a particular product or service, ensuring maximum differences between groups.

A data-driven technique that partitions a diverse customer base into homogeneous segments, identifying distinct groups.

A technique for simplifying customer preferences by reducing them into independent factors, eliminating potential biases by combining similar attributes.

A technique for reducing customer preferences into smaller factors by combining related questions, aiming to reduce bias.

The act of selecting specific customer segments to focus marketing efforts on after segmenting them based on purchase preferences.

A measure of the external factors that make a customer segment attractive for business, considering factors like size, growth, and price sensitivity.

Customers feel more grateful when they perceive RM investments as a free will act rather than a contractual obligation.

Benevolent intentions behind RM actions lead to increased gratitude.

Higher risks in RM investments generally result in a higher level of gratitude.

The stage of relationship development where both parties are exploring the potential benefits and trust of the partnership.

The stage of relationship development where both parties have established trust and commitment through reciprocal actions.

The product lifecycle captures changes in customer purchase criteria and marketing efforts as a product category matures.

Analyzing customer dynamics at different stages of a product's life, from introduction to decline.

The customer lifecycle describes how individuals change over time, reaching various age-related milestones.

This approach segment customers based on their dynamic characteristics, such as their needs, behaviors, and values.

This model, also known as the AER model, tracks the flow of customers into and out of a company, representing the customer base as a bathtub.

The initial phase when a customer first interacts with a company, usually before making their first purchase.

The process of guiding new customers into a company's ecosystem to enhance their satisfaction and loyalty.

Early customers and prospects share similar needs during the acquisition stage, suggesting a homogeneity in their requirements.

A company's approach to using social media that focuses solely on pushing content and interacting with customers in a limited way.

A company's approach to using social media that emphasizes two-way communication, collaboration, and authentic relationships with customers.

A traditional, risk-averse approach to social media marketing that prioritizes control and internal focus.

A modern, open, and flexible approach to social media marketing that embraces risk and customer engagement.

A hierarchical structure for social media marketing where a specific team or individual manages all aspects of the strategy.

A decentralized structure for social media marketing where all employees are responsible for contributing to social media efforts.

The practice of focusing on the needs of customers to effectively market products or services.

The governance style where a single department controls all social media communications, setting strict rules for who can interact and what they can say.

The governance style where departments and employees are free to communicate on social media platforms without strict rules or oversight.

The process of creatively changing an existing product or service to provide significant new value to customers and the firm.

The value provided by a product or service itself, without considering brand or relationship aspects.

A strategic tool used to identify and evaluate potential areas for innovation, focusing on changing key aspects of the business.

The idea that early followers who improve upon existing products or services often outperform the original innovators.

The value a customer receives from a product or service, including the impact of brand and relationship factors.

The ability of an organization to maintain a competitive advantage through innovative offerings and effective management of those offerings.

A firm's ability to outcompete rivals by creating a distinct and sustainable advantage through the effective combination of its skills and resources.

A type of positional advantage achieved by offering products or services at a lower cost than competitors.

A type of positional advantage achieved by offering products or services that are perceived as superior or unique by customers.

The strength of a firm's position within the market depends on how well its skills and resources match the requirements of the competitive landscape.

A firm's ability to gain a first-mover advantage by successfully pioneering a new market segment.

The likelihood of sustainable competitive advantage depends on factors like the uniqueness of the offering, difficulty for rivals to imitate, and the customer's ongoing perceived value.

Factors like economies of scale, marketing cost asymmetries, and preemption strategies can create cost advantages.

Factors like switching costs, reputational advantages, and information asymmetry can create differentiation advantages.