Page 339 - DMGT308_CUSTOMER_RELATIONSHIP_MANAGEMENT

Customer Relationship Management

Notes Customer Experience: The behaviour the customers show on consuming a product or service.
Encryption: The activity of converting data or information into code.
Internet Access: Internet access refers to the means by which users connect to the Internet.
LTV: Life Time Value is calculated by multiplying Average Revenue Per User (ARPU) by the
average length of the company’s relationship with a customer. You figure out the length by
dividing 1 by the churn rate for the period.

Strategy: A plan of action or policy designed to achieve a major or overall aim.

12.6 Review Questions

1. What do you understand by internet?
2. What is meant to intranet and LAN?
3. What is your idea of online privacy?

4. IS India crucial on the significance of privacy?
5. What is importance of privacy worldwide?
6. What are meant by CRM strategy?

7. What are components of CRM strategy?
8. How will you formulate a strategy for your business in terms of CRM?
9. What is CLV?
10. Explain the need of a CRM strategy for a business?

Answers: Self Assessment

1. Privacy 2. Decentralized

3. defect 4. No
5. 81 (d)(e)(j) 6. True
7. False 8. False
9. True 10. False

11. CRM strategy 12. 3 step
rd
13. Data 14. CRM strategy
15. Advanced data analysis techniques

12.7 Further Readings

Books Currie, C., Gabhainn, S, N., Godeau, E., Roberts, C., Smith, R., Currie, D., Picket,
W., Richter, M., Morgan, A., & Barnekow, V. (Eds.). (2008). Inequalities in young
people’s health: Health behaviour in school-aged children
Goodman R., Meltzer H., Bailey V. (1998) The Strengths and Difficulties
Questionnaire: A pilot study on the validity of the self-report version, European
Child and Adolescent Psychiatry, 7, 125-130. doi:10.1007/s007870050057

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