a business philosophy and set of strategies, programs, and systems that focuses on identifying and building relationships with a retailer's valued customers

a business philosophy and set of strategies, ________

Ch 11: Customer Relationship Management (CRM)

a business philosophy and set of strategies, programs, and systems that focuses on identifying and building relationships with a retailer&#039;s valued customers

% of the customers&#039; purchases made from the retailer

customers are committed to purchasing merchandise and services from the retailer and will resist the activities of competitors

-transactions
-customer contacts
-customer preference
-descriptive information

-ask customers for identifying information
-connect internet and store purchasing data
-offer frequent-shopper programs
-use biometrics to identify customers
-place RFID chips on merchandise

identify and provide rewards to customers who patronize a retailer

frequent shopper programs / loyalty programs

measure human characteristics such as a person&#039;s hand geometry, fingerprints, iris, or voice

the degree to which consumers feel their privacy has been violated depends on:
-their control over their personal information when engaging in the marketplace
-their knowledge about the collection and use of personal information

customer identification: privacy concerns

the expected contribution from the customer to the retailer&#039;s profits over their entire relationship with the retailer

a method often used in catalog and internet channels to determine customer segments that a retailer should target for a promotion or catalog mailing

Study with Quizlet and memorize flashcards containing terms like customer relationship management (CRM), share of wallet, customer loyalty and more.

Ch 11: Customer Relationship Management (CRM) Flashcards

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