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McGraw-Hill/Irwin
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CRM BASICS
Organizations can find their most valuable customers through RFM - Recency, Frequency, and Monetary value
How recently a customer purchased items (Recency) How frequently a customer purchased items (Frequency) How much a customer spends on each purchase (Monetary Value)
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Cross-selling selling additional products or services Up-selling increasing the value of the sale
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SECTION 9.2
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LEARNING OUTCOMES
5. Identify the primary forces driving the explosive growth of customer relationship management
6. Summarize the best practices for implementing a successful customer relationship management system
7. Compare customer relationship management, supplier relationship management, partner relationship management, and employee relationship management
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CUSTOMER RELATIONSHIP MANAGEMENTS EXPLOSIVE GROWTH Forecasts for CRM Spending (in billions)
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