ACC3200 Study Guide - Final Guide: Customer Relationship Management, Overnight Delivery, Direct Deposit

• School: Monash University
• Department: Business - Accounting
• Course: ACC3200
• Professor: Ahmad Sujan

Document Summary

The management of key business processes that extend across the supply chain. How well these processes are managed can improve costs, quality, time, relationships with suppliers and customers and overall provide a competitive advantage. Each step should add value to the customer. Collecting and analysing data to understand individual customers" behaviour patterns and needs. Assists with the development of strong customer relationships. May improve customer service, customer retention, new customers, more effective marketing, increased sales and customer profitability. Identify the contributions each customer makes (and who to target) Why crm is important: transform unprofitable relationships, strengthen profitable relationships, the 20/80 rule; top 20% of customers generate. 80% of profits, bottom 20% generate losses (work with top 20% so they don"t move to competitors and get bottom 20% to a break-even point. Don"t get rid of customers it"s expensive to get new customers) Reporting, analysing and comparing customer related revenues and customer related costs (use abc to identify costs)