Week 8 – Chapter 19 Review & Application: 1.1, 4.1

1.1) The six components of Customer Relationship Management (CRM): 1.) Identify Customer Relationships with the company, which means identifying who the customers are and what they are buying; 2.) Understand the Interactions with Current Customers, which means collecting data on the contact that the customers have with the company; 3.) Capture Customer Data based on Interaction, which means after identifying the customer contacts that they then devise some qualifiers to distinguish what information groups they want to analyze; 4.) Store & Integrate Date, which means using information technology to record and store the interaction data; 5.) Identify the Best Customers by analyzing the integrated data. Analyzing the integrated data helps to determine what customers like, don’t like and what benefits and features are most sought after in your product or service; and 6.) Leverage the Information by disseminating the analyzed data through out all areas of the company. This allows each department the opportunity to add value to the product or service at every level.

4.1) www.hardrockcafe.com