CHSE Odisha Vocational CRM flashcards

34 cards. Read the term and the definition here. The deck at the top of this page is optional.

Customer Relationship Management

A business strategy supported by systems that builds, maintains and profits from long-term customer relationships by using customer knowledge to improve service, sales and retention.

Analytical CRM

The CRM component that mines customer data for segmentation, lifetime value estimation, churn prediction and campaign evaluation, supporting management decisions rather than handling live transactions.

Customer Lifetime Value

The total contribution margin a customer is expected to generate over the whole relationship, usually discounted to present value; used to rank customers and justify retention spending.

Relationship Marketing

Marketing that aims at repeat purchase, loyalty and referral from existing customers rather than at single transactions, because retaining a customer usually costs less than acquiring a new one.

SERVQUAL Reliability

The service quality dimension meaning consistent, dependable delivery of the promised service without error; customers typically rate it as the most important of the five dimensions.

Active Listening

A structured listening technique in which the receiver attends fully, paraphrases the message, asks open questions and summarises to confirm understanding before responding.

Service Quality Gaps

Differences between customer expectations and delivered service, arising from provider gaps in knowledge, service standards, delivery and external communication.

Empathy Statement

A service response that acknowledges the customer's feeling, states the factual problem, names the action to be taken and gives a specific time commitment.

Conversion Rate

The percentage of entrants at one funnel stage who proceed to the next stage, calculated as those proceeding divided by those entering, multiplied by one hundred.

Customer Acquisition Cost

Total spending on acquisition in a period divided by the number of new customers acquired in that same period, showing the average cost of winning one customer.

Retention Rate

Customers at end of period minus new customers gained during the period, divided by customers at the start, multiplied by one hundred.

Net Promoter Score

The percentage of customers scoring 9 or 10 on likelihood to recommend minus the percentage scoring 0 to 6, giving an advocacy measure between minus one hundred and plus one hundred.

RFM Segmentation

A method that scores each customer on recency of last purchase, purchase frequency and monetary value, then groups customers by combined score to prioritise marketing effort.

Primary Key

A column or set of columns that uniquely identifies each row in a database table and cannot contain duplicate or null values.

Foreign Key

A column in one table that holds the primary key value of another table, creating a link between the two tables and enforcing referential integrity.

SaaS CRM

A CRM delivered over the internet by a vendor on shared infrastructure, paid by subscription, with the vendor responsible for hosting, upgrades and backups.

Data Warehouse

A consolidated store of historical data drawn from several operational systems, structured for query and analysis rather than for day-to-day transaction processing.

Lead Qualification

The process of assessing whether a captured lead has real potential, commonly checked against budget, authority, need and timeline before it is passed to sales.

Sales Pipeline

The set of open sales opportunities arranged by stage, used to forecast revenue by multiplying each opportunity's value by its stage probability.

Cross-Selling

Offering an existing customer an additional, related product or service different from the one already purchased, in order to increase relationship value.

Cost Per Lead

Total campaign cost divided by the number of leads the campaign generated, used to compare the efficiency of different acquisition activities.

Data Quality Dimensions

The measurable attributes of data fitness: accuracy, completeness, consistency, timeliness, uniqueness and validity, each of which can be monitored and reported.

Purpose Limitation

The privacy principle that personal data collected for a stated purpose may not be reused for a different, incompatible purpose without a lawful basis or fresh consent.

Data Subject Rights

Entitlements of the individual whose data is held, commonly including access, correction, erasure, restriction of processing, portability and objection to processing.

Data Breach Notification

The duty to contain a confirmed breach, assess the risk to individuals, record it, and inform the regulator and affected people where the applicable law requires.

Service Recovery Paradox

The finding that customers whose complaint is resolved quickly and fairly may become more satisfied and loyal than customers who never experienced a failure.

Interactional Justice

The recovery fairness dimension concerning how the customer was treated: honesty, respect, politeness, explanation and empathy during complaint handling.

First-Contact Resolution

Complaints or queries resolved during the first interaction divided by total complaints or queries handled, multiplied by one hundred.

Root Cause Analysis

A structured investigation, using techniques such as the five whys or a fishbone diagram, that identifies the underlying process failure rather than the visible symptom.

Leading Indicator

A metric such as pipeline coverage or first-response time that changes before the outcome and therefore helps predict future revenue, churn or satisfaction results.

Customer Effort Score

A survey measure of how much effort a customer had to expend to get an issue resolved, where lower effort is associated with higher loyalty and repeat purchase.

Cohort Analysis

Grouping customers by a shared start period or event and tracking each group's behaviour separately, so retention and churn rates are not distorted by mixing groups.

Break-Even Quantity

Fixed costs divided by the difference between selling price per unit and variable cost per unit, giving the unit sales volume at which total revenue equals total cost.

STAR Method

An interview answering structure that describes the situation, the task required, the action the candidate personally took, and the measurable result achieved.