...Page 1 Introduction…………………………………………………… Page 2 Literature Review…………………………………………….. Page 3 – 4 History and Development of CRM………………………..... Page 4 – 5 CRM in Action………………………………………………... Page 6 – 7 CRM and Competitive Advantage…………………………. Page 7 – 9 Implementations Considerations and Recommendations. Page 9 Conclusion……………………………………………………. Page 10 References…………………………………………………… Page 11 – 13 Abstract For our research paper, we’re going to focus on customer relationship management and how it plays a role in a company’s consumer base and profits. The cycle of CRM is primarily divided into four parts which are marketing, sales, support, and feedback. We’re going to look into detail at all four of these components and how they correlate with one another from an organizational aspect. We’re going to be looking at CRM through the eyes of the seller, the person behind the counter. We want to know how this information technology helps the organization and in what ways does its performance project competitive advantage. There are many different systems of CRM such as operational CRM which focuses primarily on the marketing, sales, products, and services of the company. Another system is analytical CRM which focuses primarily on the database and how the management uses it to make important decisions for the company. According to scholars, “Analytical CRM involves using firms’ data on its customers to design longitudinal models of choice over the breadth of the firm’s products...
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...dit project? * Hoe zou u het management van Hilton adviseren ten aanzien van verdere investeringen in Customer Relationship Management (CRM)? Is het noodzakelijk om verdere investeringen te doen of is het simpelweg voldoende om de status quo te handhaven? Welke aspecten van Hiltons CRM toepassing zou u willen verbeteren, en hoe zou u dat doen? Diversificatie, groei, verschil in klantenwaardering; maar toch dezelfde treatment. Wat ze goed doen is aansluiten bij de strategie. CRM systeem is geen doel op zich, maar een hulpmiddel. ‘relentless focus on measurement, executive championship, employee training and empowerment’ is de aanpak geweest om CRM in het Hilton DNA te krijgen. Doelen voor de best guests waren: 1. Recognition, 2. Personalisation, 3. Service recovery, 4. Customer analytics. Daarvan afgeleid: speed up reservation process, increase service quality en enable cross selling. Probleem is dat rigide wordt als company groeit. Voorbeeld: 50% gasten met pre-assignment kost flexibiliteit. Daarnaast is een probleem met pre-assignments dat reguliere gast-voorkeuren niet persé te allen tijde hetzelfde hoeven te zijn. Lastig: meten van resultaten. Vraag van mijn kant: SALT surveys handmatig of geïntegreerd? Is belangrijkste stuurindicator. Backbone OnQ is USP van het bedrijf. Daar stap je niet vanaf, dus ook niet van de CRM applicatie lijkt me (wordt ook niet outsourced). Key is dan om definities van best guests aan te passen in een groeiende omgeving, om zo rigiditeit...
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...CRM Business Report Should We Adopt a CRM System? Prepared for Western Governor’s University Course: RWT1 Prepared by Charles Carr August 10, 2009 Table of Contents Executive Summary ……….…………………………..………..……………..iv Introduction …..…….…………………………………………..….……………1 Benefits or advantages…………………………………………………………2 Cost or Possible Disadvantages……………………………………...………..3 Impact on our Business……………………………………………………….…4 What Is the estimated cost……………………………………………………….5 Conclusion & Recommendations……………………………………………….6 References…………………………………………………………………………8 List of Illustrations Marketing Effectives Table…………………………………………………………5 The options of Demand for CRM………………………………………………….6 iii Executive Summary This report analyzes the benefits and costs of implementing a customer relationship management system (CRM), and to determine the impact it will have on our business if we decide to adopt a CRM system. Benefits or Advantages Our firm has a great opportunity to benefit for implementing a CRM system, which could increase our customer service, increase our productivity, and increase our operational functionality. These benefits can be achieved by turning our raw data into competitive intelligences, which in turn will lead to increases in revenue. Costs or Possible Disadvantages If we do not plan the implementation process carefully, there is a 55 percent chance that our firm will not receive the full benefits of the...
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...market to identify opportunities to gain competitive advantage through marketing activities. 3013.1.2: Customer Relationship Management - The graduate recommends customer relationship management practices for maximizing customer satisfaction and loyalty. 3013.1.3: Evaluating Feasibility and Profitability - The graduate evaluates the feasibility and profitability of new products and services within the organization. 3013.1.4: Marketing Strategy - The graduate designs a strategic marketing plan for a new product or service. 3013.1.5: Entrepreneurial Enterprise - The graduate identifies risks and opportunities for an entrepreneurial enterprise. Introduction: Marketing managers for global organizations are often asked to evaluate the feasibility of new products and services and predict their profitability for the organization. For this task, you will select a business that would like to develop new products and services in order to attain a competitive advantage in the global market. You will first consider the products and services the company currently offers and recommend new products and services that have the most potential for profitability based on your evaluation. You will then identify the target market and consider how you would reach that market using traditional mass media and social media for the launch and beyond. For example, a natural foods company may need to begin offering an online ordering system to remain competitive. If you discover a market exists for...
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...3page 5. Describe the IT infrastructure needed for MM to expend to Asia or Eastern Europe.( see ch 5) 3 page 6. Discuss IT outsourcing options for MM.( see ch 7) 3 page 7. Develop conclusions and recommendations 1page 8. References(APA) 9. Appendices (if needed) * Check the format of writing(APA) This is the example of other case- you can follow the format 1. Executive Summary Canyon Ranch is deciding whether or not to pursue a more IT oriented strategy. The value of customer information to them is provide access to timely, and accurate customer information, find sponsorships, strategic alliances, and other hidden opportunities and to offer customizable and effective services. If we were CIO we would make the case for a CRM and BI system by clearly laying out the benefits these two systems would provide to Canyon Ranch and show how they would help us build a sustainable competitive advantage. We would anticipate these systems to have an effect on business strategy by providing better decision making and more effective customer relationship management. Our advice to Canyon Ranch executives...
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...implementation of customer relationship management (CRM) systems. What is the most effective way to realize all of the benefits from CRM system implementation? Research for this report included a review of current literature on effective implementation of CRM systems and the market data on popular CRM systems on the market available on Gartner, the leading information technology research website. Major findings indicate that just simply buying into a CRM system would not bring the promised benefits associated with the system. That is only possible if the implementations of the system is backed by appropriate strategies, supplemented by the aid of high tech IT solutions and it is the most important to know how to use the integrated information system to the best advantage. For the new CRM system being implemented in the company to be a success, the company has to evolve and implement a strategy that will iron out the kinks from the existing system to the new. The success of this endeavor depends greatly on the top management, who has to showcase their commitment and, most importantly, lead the way, guiding the rest of the employees to a new direction, which, when supplemented by the new IT infrastructure, can help give the company the competitive edge it so desires. At the end of the day CRM is only a tool, which can bring tremendous success to the company only if it is implemented and utilized properly. Introduction CRM is a more than just technology, it is a business focus...
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...Milestone 1 Abstract The problem to be solved within this business is how to implement business strategies supported by information technology. Implementing CRM (customer relationship management), to improve the businesses’ customer relationship and chances of success in today’s competitive business market, an ERP (enterprise resource planning) system, to integrate and automate the businesses’ process and information systems, a BPR(business process reengineering) system, being a key management strategy in collaboration with implementing ERP. Also needed would be a MES (Manufacturing Execution System) is a multi-task software systems used in application of monitoring and tracking all aspects of the manufacturing process In order for Kelly‘s Machining Company to survive in today‘s business environment, it has to be customer focused and technologically functional. Company Background Kelly’s Machining is an industrial machine manufacturing and fabrication company, once very successful. It offered a large variety of services which included manufacturing of industrial machines and parts, machine repairs and/or machine fabrications, now they are unable to compete in today’s growing market and larger technological savvy companies. The machines are outdated and are manually operated. The Kelly’s have been in business for over 50 years, but had not decided to bring their business into the modern technological world, leaving them unable to compete in today’s technical, fast paced...
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...and Strategy NAME: Professor: Institution: Course: Date: Introduction Xactly is a software company offering science oriented solutions on incentive compensation programs and performance management. The company develops software that enables other companies survive in this fast changing technological environment by enabling them shift from the old complex paradigm of using sales compensation incentives based on spreadsheets to cloud based sales compensation incentive programs. This helps them manage, design, and optimize sales compensation incentives hence saving on costs, time, reducing risk, and aligning workers behaviors with company goals. Magal and Word (2009) argued that, “business processes are the tasks of activities that companies use to produce goods or services, and these activities are supported by Information and Communication Technology (ICT), such as computers, the internet and information systems." Therefore, it is imperative that the company’s business processes are aligned to its business strategies. Xactly’s business strategy of mass customization lieu industrial standardization calls for targeted focus and stringent campaign co-ordination, which are essential for promoting an enabling environment for continuous growth and improvement. Xactly also recognizes that constant communication is imperative for building profitable relationships. Therefore, the company adopted a proactive social strategy as another business strategy to steer...
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... | | |CRM and CRM in Service Industry |02 | |McDonald’s: | | |Introduction |03 | | |Mcdonald’s in India |04 | | |Values and Principles |05 | | |History |06 | | |Products |09 | | |Background – The McDonald’s Story |11 | | |Organizational structures |13 | | |CRM Strategies used by McDonald’s ...
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...E-MARKETING OPPORTUNITIES AND CHALANGES Topic: E-CRM By, Gowthami Budarapu ABSTRACT: Customer Relationship Management (CRM) is a way to identify, acquire, and retain customers - a business' greatest asset. By providing the means to manage and coordinate customer interactions, CRM helps companies maximize the value of every customer interaction and in turn improve corporate performance. E-CRM, or electronic Customer Relationship Management, is an integrated online sales, marketing and service strategy that is used to identify, attracts and retains an organization’s customers. It describes improved and increased communication between an organization and its clients by creating and enhancing customer interaction through innovative technology. E-CRM software provides profiles and histories of each interaction the organization has with its customers, making it an important tool for all small and medium businesses. Internet-based companies need to remain competitive. One way of improving competitive advantage is to attract more customers and increase customer retention; for example, by developing long-term, secure relationships between the buyers and sellers. Little empirical research has been conducted on the link between customer relationship management and customer loyalty within an Internet, or e-commerce, context. Electronic Customer Relationship Management (ECRM) has become the latest paradigm in the world of Customer Relationship Management. ECRM...
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...Mandvi Co.operative Bank.3. www.crmsurvey.com Secondary Data 1. CRM relating books.2. Economic Times.3. CRM Articles from South Indian Bank.4. CRM in India. Chapter 2. Customer Relationship ManagementIntroduction 1 Customer Relationship Management Customer Relationship Management is all about understanding thecustomer’s needs and leveraging this knowledge to increase salesand improve service. Customer Relationship Management blurs theboundaries between sales and services, and is used to unify acompany’s activities around the customer. The overarching goal isto increase customer share and customer retention throughcustomer satisfaction. True Customer Relationship Managementrequires relentless focus on the customer. That is it in a nutshell.Just as a Roadmap will help you to understand the roads, you willneed to take as well as alternative routes, so CRM helps signcompanies make decision about the best route and objectives for their situation.Many businesses use CRM as a management tool for after theprospect has been given to a customer, but to do this you mustattract the customer. Although CRM is great for managingcustomer relationship, it can also utilized for marketing purposeand you can squeeze out of the most of a system that savesvaluable time and improves relationships significantly. C 2.1. The Evolution Of Customer Relationship Management. CRM must start with a business strategy, which drives changes inthe organization and work processes, which...
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...Phoenix (2012), Classic Airlines has experienced a decrease in stock prices due to limited consumer assurance, rising costs of labor and fuel. In searching for solutions, this paper will employ an aggressive nine step process of defining the problem to achieve the recommended marketing solution that includes the following steps: 1) define the situation or problem; 2) frame the right problem and measure the levels of current performance; 3) describe the end-state goals that will provide direction and vision to help management make the appropriate choice; 4) identification of alternatives that determine root causes and determine the reasons the process is working or not working appropriately; 5) evaluation of alternatives and select the best strategy to solve the problem; 6) identify and assess risks; 7) making a decision; 8) develop and implement solution and appropriate changes in the process; 9) evaluation of results to stay committed on improving the process. Description of the Situation Classic Airlines is the fifth largest airline and has been in the industry for 25 years serving 240 cities with more than 2300 daily flights (University of Phoenix, 2012). Classic Airlines has seen a 10% decrease in stock prices, 19% decrease in rewards members, and of those members there has been a 20% decrease in flights, and...
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...need it (Bowman, 2002). Worldwide Chocolate Limited started out as a small chocolate bar manufacturer but knew a rapid expansion in a relatively small period of time. My subsequent report will highlight the fact that only through the implementation of a Knowledge Information System will WCL be able to preserve its core values: maintaining a high quality of product, continuous innovation and good customer service. WCL needs to improve the communication between its various departments, it has to perfect its knowledge on the different sources of supply it uses and it also has to preserve its quick response to customer needs. The linchpin of all these changes is knowledge: WCL will have to leverage knowledge in order to gain a competitive advantage. The firm currently has eight central departments, namely: Accounting, Marketing, Human Resource Management, Research and Design, Sales, Warehousing, Manufacturing and Logistics and Despatch The rich picture that has been drawn, labelled in the Appendix as Figure 1, emphasises the inter-connectivity that exists between the Marketing, R&D, Manufacturing, Warehouse, Logistics and Sales departments. All these departments share different functions and responsibilities within the organization. Only six of the eight departments have been...
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...Customer Relationship Management Holly Smith August 16, 2011 Introduction Customer acquisition and retention have become essential in a highly competitive global market where advanced technological and web-based tools and applications are used to lure new customers as the old marketing strategy of quality goods at low cost has become redundant and the focus is on customer centric marketing and product development. Customer Relationship Management (CRM) has been defined as, “a cross functional, customer-driven and technology-integrated business process management strategy that maximizes relationships” Chen and Popovich (as cited in Parsongsukan,2010, p.17). The successful implementation of a CRM strategy requires organisational transformation, changing business processes and only then can CRM implementation achieve the desired results and CRM vision. CRM implementation cannot be restricted to software and technological upgradation for enhancing customer database management. CRM is an integrated approach that requires organisation and business process transformation for effective implementation. History of CRM The evolution of CRM started from mass marketing when companies’ mass- produced goods and services believing that customers had similar needs and preferences. This trend gave way to target marketing where marketing campaigns were used to target goods and services to different strata’s of consumer segments...
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...$CEO/Americas$ From:$0619$7389$ Date:$February$16th,$2008$ Re:$Future$CRM$direction$and$Strategy$ $ It$is$proposed$that$Hilton$Hotels$Corporation$reinvest$approximately$$2$million$dollars$in$the$OnQ$CRM$ initiative$with$the$focus$on$a$more$targeted$approach$to$better$serve$the$diverse$Hilton$portfolio.$This$ tactic$addresses$the$objective$of$significant$growth$given$the$key$issue$of$achieving$service$ standardization,$a$typical$challenge$of$service$delivery$operations.$$With$Blackstone’s$capital$backing$ (see$Exhibit$A),$the$perfect$opportunity$is$presented$for$Hilton$to$reinvest,$revamp$and$expand$the$OnQ$ CRM$program$to$ensure$excellent$service$in$their$existing$and$upcoming$hotels.$ $ In$evaluating$CRM’s$performance$to$date,$several$measures$were$examined.$Total$calls$have$increased$ by$15.31%$since$the$CRM$strategy$launch$(see$Exhibit$B),$net$revenue$per$call$have$been$steadily$ increasing$(see$Exhibit$C),$and$there$has$been$a$1.12$billion$dollars$increase$of$revenue$through$the$call$ center$(see$Exhibit$D).$$This$can$be$explained$due$to$the$decreased$talk$time$on$the$phone$that$was$ achieved$as$OnQ$allows$agents$to$quickly$have$all$the$needed$information.$Even$if$this$result$was$only$ 0.54%$(see$Exhibit$D)$due$to$the$CRM$initiative$(or$1%$given$new$suggested$spending),$Hilton$would$ breakeven$on$it’s$minimal$annual$maintenance$expense$for$CRM$(see$Exhibit$D).$CRM$has$also$provided$ Hilton$Hotels$with$a$competitive$advantage.$RevPAR$Index$was$used$as$a$brand$competitiveness$ measure...
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