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MNE3701 Discussion class questions and answers

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Describe the categories of information that is very important in building a customer database.

Categories of Customer Profile Information Transactions data Purchase history (price paid, SKU, delivery date) Profile of past responses Sales calls and service requests (customer- and company-initiated contacts) Demographics Background information for segmentation and data analysis Internet information Time spent on the internet, frequency of visits to company website. Personal information Name address, tel number etc. Lifestyle and psychographic data Homeowner versus renter status Complaints Complete history of complaints regarding past purchases

Describe the activities involved in managing credit

Evaluation of Credit Applicants Can the buyer pay as promised? Will the buyer pay? If so, when will the buyer pay? If not, can the buyer be forced to pay? The Traditional Five Cs of Credit Character Capital Capacity Conditions Collateral Sources of credit information Aging of accounts receivable Billing and collection procedures Credit regulation. Evaluation of credit application

In a small business it is often difficult to identify the type of risk, but once identified how can the owner cope with these risks?

In a small business it is often difficult to identify the type of risk, but once identified how ca...

Risk Management Ways of coping with risk that are designed to preserve assets and the earning power of a firm The Process of Risk Management Step1: Identify risks. Step 2: Evaluate risks. Step 3: Select methods to manage risk. Step 4: Implement the decision. Step 5: Evaluate and review.

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Institution
University of South Africa (Unisa)
Course
MNM3709 - Strategic Marketing

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