DIRECTIONS: Read and answer the following questions from the chapter. 1. What ar

Question

DIRECTIONS: Read and answer the following questions from the chapter. 1. What are the key differences between strategic, operational, and analytical CRM? Give an example 2. What makes social CRM different from traditional CRM? 3. What would be the difference between CRM practiced by a retail bank, and CRM as practiced by an industrial goods manufacturer. Explain 4. Select one of the CRM models found on pages 20-22. Research the model and provide a summary of no less than 300 words on the model and its significance. Do not just copy and paste from a website! Paraphase and provide a good summary using Intro, main body, summary? Provide at least two websites as references. 5. You are a consultant for CRM agency. You've been asked to explain CRM to a business that is having customer service problems. How would you explain to business leaders what CRM is and is not? Provide an external source (website, article, that you researched on CRM separate from your textbook.) Criteria: . Minimum Soo word count for the full submission. Each questions should be at least 100 words with question-4 being the required 300 words, question 5 no less than 200 words. Use 5-6 chapter terms used throughout the chapter. Bold our capitalize the terms mmend you work "offline using a word processing program and then copy and "paste (Use Ctrl V on your key board to paste your submission.)

Explanation / Answer

CRM describes the way the companies interact with the customer. An example of CRM is that when you go for a Pizza in Domino’s they ask you your mobile no. That mobile no is very beneficial for them they can send you exclusive offer as per your buying behavior, pattern. They can communicate any new offer etc.

Here are key differences between asked CRM

Strategic CRM- In strategic CRM the company focuses on to retain the existing customers and win them. The company keeps learning about the requirements of customers and work as per their demand.

The Company knows who are their genuine buyers who frequently buy products from them.

Operational CRM- Operational CRM focuses on data which is used to run the operations or let us say every day business. For an example transaction. This is also known as front line CRM.

Other examples like complaint of the customers, sales return, transaction, face to face communication etc.

Analytical CRM- It is somewhat opposite of operational CRM. Operational CRM is frontline CRM and analytical CRM is back line CRM. It is about capturing the data then after interpreting it, segregating, analyzing, storing the data related to customers. It is broad type of CRM. This analyzes the overall customer buying behavior.

As per Chegg policy I can answer only 1 question in 1 GO. Request you to pl ask the question separately. I will feel glad to answer them.

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