Unit 2 - Customer Relationship Marketing Initiatives -Part 5

Unit 2 - Customer Relationship Marketing Initiatives -Part 5

Further look at new terms and concepts

•Customer Behaviour Prediction

•Customer Profitability and Value Modelling

•Channel Optimisation

•Personalisation in Marketing

•Event-Based Marketing 

Multiple Select

Customer Behaviour Prediction

It is to predict how customers will behave.

Predictions are done using customer __________ modelling.

• behaviour

• assumption

Multiple Select

Customer Behaviour Prediction

Customer behaviour models are based on data mining of _________.

• customer data

• marketing channels

Multiple Choice

Customer Profitability and Value Modelling.

data-driven representation of the worth, in monetary terms, of what a company is doing or could do for its customers. It is used primarily in ___________ markets.

• B2C

• B2B

• C2B

• C2C

Multiple Choice

The formula for Customer Value is

• Customer Value = Price - Benefits

• Customer Value = Benefits - Price

Multiple Select

2.6.5 Channel Optimisation

Process by which a company use data to manage and improve the channel to enhance customer experiences, increase interactions, and drive an ___________________

• an increase in incremental conversions

• a decrease in incremental conversions

• an increase in incremental price

Channel Optimisation

balance between fulfilling each customer’s desired channel preferences versus achieving the firm’s desire to secure the lowest cost-to-serve channel option for each customer.

2.6.6 Personalisation in Marketing

one-to-one marketing or individual marketing

deliver individualised messages and product offerings

allows a company to segment its consumers and target them

Multiple Choice

Personalisation in Marketing

Can be used for the following

• Email marketing

• Advertisement in printed copy of Straits Times

Multiple Select

2.6.7 Event-Based Marketing

A digital marketing technique where customers receive personalised communications based on their behaviour.

An event is a record of __________ of behaviour taking place on a website or app

• a single instance

• multiple instances

Multiple Select

There are two components:

• managing identity

• recording behaviour

Identity

anonymous identity

until, and if, the user becomes ‘identified

Multiple Select

Identified users are __________ users who already have a record

• known

• unknown

Behaviour

information that describes how the user interacts with the website or app

Multiple Select

An event is a single event in the journey of the customer.

It is

• a single instance

• of measured behaviour

• of unmeasured behaviour

• Example: ‘Clicked on Playlist'