List and explain the three CRM technology components.

[
Winter 2014
PROGRAM
SEMESTER
SUBJECT CODE &
NAME
CREDIT
BK ID
MAX. MARKS
Q.No
] ASSIGNMENT – SCHEME OF EVALUATION
Master of Science in Information Technology(MSc IT)Revised Fall 2011
4
MIT4024– Customer Relationship Management
4
B1635
60
Question and Scheme of Evaluation
1
List and explain the three CRM technology components.
A
There are three CRM technology components. They are”
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[10]
List any ten features of SFA.
The main features of SFA are (list any ten):
(i) Lead management
(ii) Opportunity management
(iii) Global forecasting
(iv) Territory management
(v) Customizable forecasting
(vi) Approvals and workflow
(vii) Account and contact management
(viii)Activity management
(ix) Product catalog
(x) Document management
(xi) Contract management
(xii) Email templates
(xiii)Asset management
(xiv) Partner management
(xv) Reports and dashboards
(xvi) Data quality management
(xvii) Mobile solutions
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Explanation
A
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(i) CRM engine
(ii) Front office solutions
(iii) Enterprise Application Integrations (EAI)
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3
Define Decision Support System (DSS). List the features of DSS.
A
Decision Support System (DSS) is defined as a computer-based
information system that aids the business organizations with their decisionmaking process.
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Features of DSS:
4
List out the business benefits of Response tracking.
A
Business benefits of Response tracking are:
(i) Response tracking using mobile allows the marketers to track message
delivery rate, response rate and sales conversion rate for a campaign
thus, resulting in better ROI.
(ii)
Response tracking using e-mails allows marketers to track responses of
the customers. It tracks mails opened, mails replied to, mails bounced
etc. Thus, it allows marketers to augment Know Your Customer
(KYC) metrics.
(iii)
Response tracking through e-mail results in locating the interested
customers. It further allows marketers to approach those customers via
different touch points, leading to strong customer relationship and
enriched data in CRM.
(iv)
Response tracking via e-mail also helps in strengthening the customer
relationship through personalized communication, which helps the
customer feel that organizations set high KYC standards.
(v)
Response tracking on Web through personalized landing pages and
personalized offers based on strategic customer segmentation allows
organizations to understand customer behavior and their inclination
towards the offer.
(vi)
Once the customer makes an inbound call, he is asked to validate the
call. This is also a technique to track the effectiveness of the response.
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(vii) Response
tracking allows organizations to improve the response rates
greatly by means of customization and tailoring of messages.
(viii)By
using multi-level response tracking organizations can realize multitiered marketing initiatives.
(ix)
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A
Response tracking also helps organizations to reap the benefits of viral
marketing, resulting in customer retention and customer acquisition.
What are the basic steps in project planning?
The following steps are followed in project planning:
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1. Breaking up of the requirement specifications into smaller subtasks or
activities
2. Sequencing of activities and identifying activities that can be
implemented at the same time
3. Framing a resource plan that shows and quantifies the required labour,
equipment and materials for each activity
4. Identifying the time schedule for each activity and parallel running
activities
5. Working out the financial plan which describes the total quantity of
financial resources required during each stage of the project
6. Framing the quality plan that ensures that the project deliverables meet
requirements accurately
7. Formulating the risk plan that identifies all foreseeable risks and rates
them in terms of likelihood of occurrence and their potential impact on
the project
8. Prioritizing the risks and identifying a set of actions to reduce the
likelihood and impact of each risk on the project
9. Formulating the acceptance plan that ensures that the outputs meet the
requirements stated in the quality plan.
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A
[10]
Explain about the RFM Model.
The RFM (Recency Frequency Monetary value) model is used for
evaluation of customers. After analysis of customer data over time it is
found that customers who bought products recently are likely to buy again
compared to the customers who have not purchased anything for a long
time.
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Further Explanation:
*A-Answer
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