Page 147 - DMGT308_CUSTOMER_RELATIONSHIP_MANAGEMENT

Customer Relationship Management

Notes 5.6 Review Questions

1. Explain the utilization 360 degree marketing in enhancing sales.
2. What do you understand by marketing strategies?

3. Discuss the advantages of data mining.
4. Differentiate between cross and up selling.
5. How will you use up selling for increasing sales of your product?
6. Assume that each item in supermarket is bought by 1% of transactions. Assume that there
are 10 million transactions and that items are statistically independent. Assume
mid-sup = 10. What is the expected size of a frequent set? What is the expected number of
frequent sets?
7. Suppose that you have data describing the closing prices of the stock you own for the last
1000 days. Suppose you are interested in generating all rules which tell you about chances
of your stock going up on a given day provided you know the pattern (up or down) on K
preceding days, with some minsup and minconf defined. How would you model this
problem as association rule mining problem, is there a way to represent this as transactions
with binary attributes like in the supermarket case?

8. Summaries the data mining technique and its significance in today’s scenario.
9. What are six strategies for increasing cross and up selling?
10. Give live examples used in businesses about up selling.

Answers: Self Assessment

1. Four 2. The external market

3. The internal marketing 4. Reward
5. Stakeholder 6. Realistic
7. Linear 8. Decision tree
9. Segmentation 10. Data mining

11. Six 12. Cross selling
13. Up selling 14. High valued customers
15. Revenue; profits

5.7 Further Readings

Books Alex Berson, Stephen Smith, Kurt Thearling, Building Data Mining Applications,
2004.
Anderson, Paul and Art Rosenberg. The Executive’s Guide to Customer Relationship
Management. Doyle Publishing Company, Houston, 2000.

CGI Group Inc. White Paper, Building Competitive Advantages through Customer
Relationship Management, January 2001.

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