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Describe how to identify the best customers. Customer relationship management, as a process strategy, attempts to manage the interactions between a company and its customers.
To be successful, organizations must identify customers who yield high profitability or high potential profitability. To accomplish this task, significant amounts of information must be gathered from customers, stored and integrated in the data warehouse, and then analyzed for commonalities that can produce segments that are highly similar, yet different from other customer segments.
A useful approach to identifying the best customers is recency-frequency-monetary (RFM) analysis. Data mining uses RFM, predictive modeling, and other approaches to identify significant relationships among several customer dimensions within vast data warehouses. These significant relationships enable marketers to better define the most profitable customers and prospects.
1. Explain the concept of data mining. Provide five examples of companies that are currently using data mining and explain why each is using it.
Review the case study entitled "Evaluating Vision and Mission Statements at Harley Davidson." Alternatively, you may choose an organization of your choice.
Interviewing unqualified applicants can be a frustrating experience and a waste of time for managers, peers, or whoever is responsible for interviewing. How can the HR department minimize or eliminate this problem?
Pretend you are a Supervisor as well as have been given a mission to implement two logistical process improvements.
evaluate the skill-based pay system of compensationskill-based pay refers to a pay system in which pay increases are
Explain what you will do when conflicts arise, as they inevitably do, especially during the storming stage. Include the circumstances that would lead you to ask for faculty intervention and the method to be employed should this be necessary.
Prepare an example to show appropriate use of power by the employer and by the employee and what would be inappropriate use of power?
1) Please watch "Managing Risk and Cash Flow in International Trade" produced by Export Development Canada ( https://www.youtube.com/watch?v=XRNxSZ7Ry7Y ) .
main reason that diversified shareholders might NOT want their corporate managers to purchase insurance against firm specific losses is that:
Explain what role a company's culture plays in executing these managerial tasks. Discuss what is involved in performing the eight key managerial tasks that shape the process of implementing and executing strategy.
Based on the concern that we may be running out of oil, describe at least two renewable alternatives to oil that are currently available and discuss the barriers that keep these alternatives from replacing oil as our primary means of energy.
Students must make an effort to develop perspectives also provide supporting analyses, also incorporate some OB (Organizational Behavior) concepts in the analyses.
1. The specifications from the manufacturer of a particular type of metal coating call from temperature of the drying oven to be 370 F. The company that is considering using this coat has run tests by taking a large number of temperature readings fro..
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