...CUSTOMER RELATIONSHIP MANAGEMENT (CRM) EVALUATION: DIFFUSING CRM BENEFITS INTO BUSINESS PROCESSES Sigala, Marianna, University of the Aegean, Michalon 8, 82100 Chios, Greece, m.sigala@aegean.gr Abstract Although CRM is one of the fastest growing management approaches being adopted across many organizations and particularly tourism and hospitality firms, the deployment of CRM applications has not always delivered the expected results while many CRM initiatives have failed. Consequently, the inability of CRM applications to deliver expected benefits has not only intensified the validity of previous findings and claims regarding the ICT productivity paradox, but it has also boosted current research. However, although the latter provides anecdotal evidence of the impact of ICT management practices on CRM effectiveness, there is a lack of empirical studies examining the relationship between CRM management and performance aspects. This study aims to fill in this gap by investigating the relation between firms’ CRM applications and exploitation with their ICT management practices and CRM benefits. The investigation and validation of the former are valuable, since it would enable managers to maximize CRM benefits by identifying and allocating the appropriate resources, time and efforts to CRM implementation. Relations are tested by gathering data from Greek tourism and hospitality companies. Findings provide useful practical suggestions for CRM evaluation and implementation strategies...
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...product towards customer orienta-tion, they still need practical holistic concepts enabling efficient sales management and customer approaches. According to PEPELS reporting systems are essential in today’s sales. This incorpo-rates appropriate goal setting and documentation of achievements to monitor progress and success. He further goes saying that reports need to be aligned with customer demands/needs so information gathered and retrieved is useful providing insight in customer satisfaction, reactions to offers, personal information, current status and overall buying habits. Over time this type of reporting and monitoring has become more and more computer-aided – including ERP-systems, CRM-systems,...
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...the Customer Relationship Management (CRM) system at a global recruitment firm. How it affects to operational management process. Mohd Faisal MOHD HAMA Abstract The present paper document on a study of implementing Customer Relationship Management System (CRM) at one global recruitment company headquartered in Manchester United Kingdom, as a way of operation process improvement. This paper will highlight on the company condition before implementing the CRM system, the transition and how it affects the company operational management. The result has indicates that the use of CRM system has significantly improves in terms of client and candidates management system, invoicing and management functions in the organization. In addition, the implementation of the CRM system has allowed the company to centralized it operation, in terms of recording and sharing information on a global scale which enhance the company data efficiency and data management. However, due to lack in the software capabilities and end user knowledge, few problems are identified and how it affect in the system efficiency. Note: The company name used in this paper is a pseudo in which due to privacy and confidential reason practice by the company interviewed, the real name of the company has been agreed to be disclosed to respect the company wishes. Keywords Data Management - Process Innovation - Recruitment - Operation Management Introduction Peter Drucker, a writer and a management consultant...
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...on how the Global Recession has impacted on Customer Relations Management and how more and more businesses worldwide have begun to adopt CRM systems in a bid to improve their business in the current economic climate ------------------------------------------------- The impact of the global recession within business The following is a report on how the Global Recession has impacted on Customer Relations Management and how more and more businesses worldwide have begun to adopt CRM systems in a bid to improve their business in the current economic climate Report by: Elaine McGrath Student K00121928 Limerick Institute of Technology Report by: Elaine McGrath Student K00121928 Limerick Institute of Technology Business Report The Impact of the Global Recession on CRM within business Elaine McGrath K00121928 (CRM) Customer relationship management is a business strategy for managing organisations interactions with their customers, their clients and their future sales prospects .It uses technology to organise and automate their business processes such as sales and marketing activities, customer service and technical support. According to a Goldman Sachs Study CRM is considered the second most important initiative after security for business. The overall goals of CRM are to seek out, find and win new clients and to implement strategies to retain existing customers therefore reducing customer churn levels. Another goal of CRM is to encourage true lifetime loyalty and optimise...
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... Abstract—The SAP-CRM is short for Customer Relationship Management in SAP system. It is a fully functional, customercentric, e-commerce solution. This solution is designed to provide customers with satisfaction, and loyalty services. It helps to improve the competitive advantage, leading to higher profits. Through implementing SAP-CRM, it will help the enterprise to establish the formidable information sharing platform and to optimize processing flows, so the marketing department can get the marketing information accurately, providing the support directly to the marketing decisionmaking. At the same time, the SAP-CRM system will establish the relationship between marketing department and production department, research department, etc, promoting to form the sales program closed loop, market feedback processing closed loop as well as the new products researches closed loop. By SAP-CRM system, the staff will maintain with the channel customers and the terminal customers steady, assisting to plan and to carry out the sales. Moreover, the SAPCRM system provides the tools for the administrators to manage and monitor the sales persons. Through the SAPCRM’s implementation, it will help to create the more valuable customers relations for the enterprise, such as: innovating the products and services, making the top level marketing processes and maintaining the lasting customers relations. Keywords-SAP-CRM; process;; sales plan Figure 1 Function overview of SAP-CRM II. THE CIGARETTE...
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...The Effect Of Customer Relationship Management (CRM) On Customer Satisfaction In Banking Sector by Abdelmenam Ahmed Deghady Supervisor : Dr. Ashraf Labib Table of Content CHAPTER 1 : INTRODUCTION................................................................................................3 1.1 Introduction..........................................................................................................................................................4 1.2 Research Problem.............................................................................................................................................5 1.3 Study Hypothesis................................................................................................................................................5 1.4 The study variables.............................................................................................................................................6 1.4.1 Independent variables.............................................................................................................................6 1.4.2 Dependent variables................................................................................................................................6 1.5 Research Objectives...........................................................................................................................................6 CHAPTER 2 : Research Methodology...
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...Customer Relationship Management and Key Account Management [Name of writer] [Name of institution] Table of Contents Introduction 1 Customer Relationship Management 1 Customer Relationship Management in Business to Business 1 Customer Relationship Management in Business to Customer 2 Issues related to CRM in B2B and B2C 2 Customer Privacy 3 Technical Immaturity 4 Ownership and Accountability 4 Importance of Customer Loyalty 5 Conclusion 5 References 7 Customer Relationship Management and Key Account Management Introduction This paper intends to focus on the importance and need of customer relationship management for business organizations. The paper will focus the role of customer relationship management in business to business marketplace. In addition to this, the paper will incorporate the role of customer relationship management in business to customer marketplace. The paper will further illustrate the issues which are associated with customer relationship management in business to business marketplace. Issues related to customer relationship management in business to customer marketplace will also be included in the paper. Positive and negative impacts of relations on business dealings will also be discussed in the paper. All of these discussions will help in understanding proper role of customer relationship management in the both B2C and B2B marketplace. Customer Relationship Management CRM i.e. Customer Relationship Management...
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...they must improve on their informational technology capabilities. Ruben and Lisa need to upgrade and improve their information management within the Club. The Club has several ideas, analysis, and planning that the Club needs to improve upon before moving forward. Ruben Keys and Lisa Tejada Club IT is a successful nightclub, but lack the technological character of other clubs in the city. Club IT can grow into the best club with expanding the club’s clientele and reputation by upgrading a few ideas insides the club. This business will need to provide structure in certain areas to reach its full potential. Some of the systems needed are customer relationship management (CRM), supply chain management (SCM), and enterprise resource planning (ERP). Club IT has several issues that need to be addressed to make this an efficient business. One of the issues is that the business does not seek improvements in the hi-tech assets that can amplify transactions, clientele, and general income. The computer system that this business is using does not have an integrated system that combines customer relations, enterprise resources, and supply management. Many of the Club’s clientele use PDAs, Blackberries, camera phones, and other wireless devices to communicate. Electronics are the wave of the future for any business to stay ahead of the competition. The CRM helps Club IT assemble a direct connection with the clientele by mailing advertisement, e-mail, events, concerts, and discount...
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... ON CUSTOMER RELATIONSHIP MANAGEMENT Submitted to: Kamalpreet Kaur JRF Punjabi University, Patiala INTRODUCTION The essence of the information technology revolution and, in particular, the World Wide Web is the opportunity to build better relationships with customers than has been previously possible in the offline world. By combining the abilities to respond directly to customer requests and to provide the customer with a highly interactive, customized experience, companies have a greater ability today to establish, nurture, and sustain long-term customer relationships than ever before. The ultimate goal is to transform these relationships into greater profitability by increasing repeat purchase rates and reducing customer acquisition costs. Indeed, this revolution in customer relationship management or CRM1 as it is called, has been referred to as the new “mantra” of marketing. The need to better understand customer behavior and focus on those customers who can deliver long-term profits has changed how marketers view the world. Customer Relationship Management is an innovative approach undertaken by the marketers in the process of developing lifetime customers and maximizing lifetime value of the customers. CRM approach is still new for the corporate managers, as in India the customers are still at the...
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...submission (ii) Theme area : CRM and 4 P’s of Marketing. : Customer relation ship Management = CRM and 4 P’s. (iii) Name of the author : Prof R Ramakrishnan : Head, Department of Management Studies Muthayammal Engineering College, Rasipuram 637408 (iv) Designation with Department (v) Mailing address: College: Residence: Suri Illam, 10A Swami Sivananda Salai, Rasipuram 637408 (vi) E-mail address (vii) Phone number(s) : ramakrish54@gmail.com College: 04287-220837 and 226837 Residence: 04287-225837 Mobile : +919952669656 : 04287- 226537 (viii) Fax number Presented by me at the National Seminar On Customer Relationship Management Organized by M.O.P. Vaishnav College for Women (Autonomous) Chennai-34. On 25th February 2006 1 of 10 Electronic copy available at: http://ssrn.com/abstract=1751648 Abstract = CRM and 4 P’s of Marketing The concept of CRM has evolved over a period of time through a sequence of initiatives, which have been directed towards improving business performance. In today's highly competitive business world CRM can be considered as the ultimate solution for both customers as well as organizations. CRM considers customers not as outsiders but as insiders to the business and aims to build a long-term relationship with them. A high degree of customer contact, commitment and services are therefore essential features of CRM CRM is an on-going process of identifying and creating new value with individual customers and then sharing the benefits...
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...components of CRM strategy and its effects to competitive advantage achievement. The findings of this article highlight the effects of CRM on competitive advantage and the components of CRM strategies. The findings were synthesized and summarized from few previous researches’ results which studied the topic of CRM. There are few components of CRM such as the components of perception and customers’ separation, attracting and protecting customers being faithful (making loyalty), emphasis on quality, improving and specializing the relations with the customers (customization), complaint investigation, invest in internal people, and relationship-based interfaces (Mehrdad & Hallaj, 2011; Aihie & Az-Eddine,...
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...European Scientific Journal May 2013 edition vol.9, No.13 ISSN: 1857 – 7881 (Print) e - ISSN 1857- 7431 THE STRATEGIC BENEFITS AND CHALLENGES IN THE USE OF CUSTOMER RELATIONSHIP MANAGEMENT SYSTEMS AMONG COMMERCIAL BANKS IN KENYA Maximillah Bitutu Muro, PhD Candidate Department of Management Science, University of Nairobi, Nairobi, Kenya Peterson Obara Magutu Lecturer, Department of Management Science, University of Nairobi, Nairobi, Kenya Kepha Nyankora Getembe, PhD Candidate Department of Management Science, University of Nairobi, Nairobi, Kenya Abstract Nowadays, many businesses such as banks, insurance companies, and other service providers have realized the importance of Customer Relationship Management (CRM) and its potential to help them acquire new customers, retain existing ones and maximize their lifetime value. At this point, close relationship with customers requires strong coordination between IT and marketing departments to provide a long-term retention of their customers. The purpose of this study was to establish the use of CRM systems and further determine the challenges facing the use of CRM systems among the commercial banks in Kenya. The study used descriptive design. The study targeted forty five (45) commercial banks in Kenya. Primary data was obtained using self administered questionnaires. The successfully filled up questionnaires containing responses were first edited for accuracy, consistency and completeness. The data...
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...to build better relationships with customers than has been previously possible in the offline world. By combining the abilities to respond directly to customer requests and to provide the customer with a highly interactive, customized experience, companies have a greater ability today to establish, nurture, and sustain long-term customer relationships than ever before. The ultimate goal is to transform these relationships into greater profitability by increasing repeat purchase rates and reducing customer acquisition costs. Indeed, this revolution in customer relationship management or CRM1 as it is called, has been referred to as the new “mantra” of marketing. The need to better understand customer behavior and focus on those customers who can deliver long-term profits has changed how marketers view the world. Customer Relationship Management is an innovative approach undertaken by the marketers in the process of developing lifetime customers and maximizing lifetime value of the customers. CRM approach is still new for the corporate managers, as in India the customers are still at the receiving end only. The concept of CRM and its implementation creates chaos for the marketers, as they are unable to comprehend the benefits of this approach to enhance their relationships with their customers and ultimately gain the long-term profitability profit. History of CRM Before the introduction of CRM systems, customers would buy from a company and little...
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...CRM at Minitrex Surendra Garapati Wilmington University Customer Relationship Management: Customer Relationship Management is well known for practices and technologies that any organization will use to improve and investigate, for developing business relationships with customers and helping with customer maintenance there by driving to sales growth. This system is used to obtain information about the customers that are involved in the company relationships. That would include the company’s website, telephone, live chat, direct mail, and online networking. CRM network will also give detailed information on customer’s personal information, purchase history, intentions to buy and interests. CRM assists in figuring out and rewarding the most beneficial consumers. CRM is defined as a combination of consumer maintenance along with devotion standards, along with facts foundation programming. Businesses can have preferred to preserve contacts with new clients, maintain these people and create a long-run, loyal human relationships. Before existence of database system, following human relationships together with numerous consumers had been nearly extremely hard. data base today, assists in amassing consumer details, comply them for particular marketing and promotion activities. CRM is much more needed to business in competition with bigger opposition. Diverse companies have got various assumptions on CRM. CRM utilizes recruiting human resources and it also services in organization...
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...FACULTY OF MANAGEMENT STRATEGIC MANAGEMENT CUSTOMER RELATIONSHIP MANAGEMENT (CRM) Abstract Majority of administrations have observed the customer relationship management (CRM) design as a hi-tech explanation for glitches in individual region, convoyed by a great deal of not coordinated enterprises. in any case, customer relationship management have to be conceptualized as a strategy, due to its technological, human, and processes implications, meanwhile an organization decides to carry it out. On this concept, the main aim declared in this research is to propose, vindicate, and legalize a model based on critical success influences that will constitute a lead for companies in the execution and diagnosis of a CRM strategy. The model is match by a set of 13 critical success factors with their 55 analogous metrics, which will perform as a lead for organizations desiring to apply this type of strategy. These rudiments cover the three key aspects of every customer relationship management strategy (processes, human factors and technology); giving a universal focuses and appease success in the performing of a CRM strategy. These critical success factors were measured by a group of internationally experts permitting deciding guidelines for a consumer relationship management employment as well as the plausible causes of the shortages in past projects. Introduction In the early of 1960s, Levitt recommended that the aim of...
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