Final Assessment
IFSM 300 – Assessment
INCLUDE YOUR NAME IN THE FILE NAME!!!
Each Assessment Question is worth five (5) points, maximum. Remember, this is a 300-level course, so I consider grammatical/syntactical areas as well (refer to your Syllabus for effective writing tips). Do NOT change the content(s) of any of the Questions; in so doing, you will forfeit the entire grade of this Assessment.
You will need to use both textbook and Internet resources for your responses. Please cite the source of your response.
1. Many companies (just like the scenario in the class) rely on the use of knowledge as part of their products and services. With respect to this fact, succinctly define the two (2) premiere forms of knowledge used by firms (explicit knowledge, and tacit knowledge).
ANSWER: Knowledge that can be documented, archived, codified is known as explicit knowledge. This consists of assets held by a company that include patents, trademarks, marketing research, customer lists and business plans. Knowledge that is contained in a person’s head is known as tacit knowledge. This knowledge is difficult to recognize, generate, share and manage. (Baltzan, 2014)
2. Describe the three (3) primary operational Customer Relationship Management (CRM) technologies a marketing department can use to increase customer satisfaction (List generation; Campaign management, and Cross-/Up-selling).
ANSWER: The three primary operational Customer Relationship Management (CRM) technologies a marketing department can use to increase customer satisfaction are list generation, campaign management and cross-/up-selling. List generation takes customer information from several different sources and separate them for various marketing campaigns. This customer information is farmed from customer’s visits to websites, questionnaires or surveys they’ve completed and marketing mailers that they respond to. Once this information is compiled into a list, it can then be filtered by demographic
INCLUDE YOUR NAME IN THE FILE NAME!!!
Each Assessment Question is worth five (5) points, maximum. Remember, this is a 300-level course, so I consider grammatical/syntactical areas as well (refer to your Syllabus for effective writing tips). Do NOT change the content(s) of any of the Questions; in so doing, you will forfeit the entire grade of this Assessment.
You will need to use both textbook and Internet resources for your responses. Please cite the source of your response.
1. Many companies (just like the scenario in the class) rely on the use of knowledge as part of their products and services. With respect to this fact, succinctly define the two (2) premiere forms of knowledge used by firms (explicit knowledge, and tacit knowledge).
ANSWER: Knowledge that can be documented, archived, codified is known as explicit knowledge. This consists of assets held by a company that include patents, trademarks, marketing research, customer lists and business plans. Knowledge that is contained in a person’s head is known as tacit knowledge. This knowledge is difficult to recognize, generate, share and manage. (Baltzan, 2014)
2. Describe the three (3) primary operational Customer Relationship Management (CRM) technologies a marketing department can use to increase customer satisfaction (List generation; Campaign management, and Cross-/Up-selling).
ANSWER: The three primary operational Customer Relationship Management (CRM) technologies a marketing department can use to increase customer satisfaction are list generation, campaign management and cross-/up-selling. List generation takes customer information from several different sources and separate them for various marketing campaigns. This customer information is farmed from customer’s visits to websites, questionnaires or surveys they’ve completed and marketing mailers that they respond to. Once this information is compiled into a list, it can then be filtered by demographic