...Manage Strong Customer Relationships (CRM) with the Help of Social Media Thesis 2014 1 Abstract Shahzaib Malik How to build and manage strong customer relationships (CRM) with the help of Social Media, 49 pages, 3 appendices Saimaa University of Applied Sciences Faculty of Business Administration, Lappeenranta Degree Programme in International Business Bachelor’s Thesis 2014 Instructors: Senior Lecturer Riku Hytönen Managing Director Heli Korpinen The purpose of the study was to provide useful information and guidelines for companies about how to apply social media to managing customer relationships in the way which will help to build long-term profitable relationships with clients to increase customer knowledge, customer support, involvement in the company and loyalty to the brand to raise sales and increase the profits of the company. The first step of the research was to analyze articles and studies of other authors written about the topic, in order to create a sufficient understanding and to reveal the current stage of development. These observations resulted in creation of the theory part of the thesis and determine the actual research questions. The next step was to choose a company which would be interested in the study and help with providing relevant information and data for practical research. The data for empirical research was collected by interviewing the personnel of Company X, by studying the opinions of the customers and by several...
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...Customer Relationship Management Sarina White Ashja Thompson DSIM 518: Competing through Innovation and Information Technology Instructor: Vikas Agrawal Spring 2016 Table of Contents Abstract……………………………………………………….. 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...
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...Abstract The decision for Howard Holdings to take their business to the internet is primarily to reach more customers. Today, most consumers do online research before they make any decisions to make a big purchase. We will also make some improvements in our marketing strategy by performing Search Engine optimization making sure HH is quickly and easily found on the internet. As with online research, consumers go to social media sites to read what others have posted about businesses and the relationships or lack of a business and consumer have. Another reason for HH to go online is that there are no area competitors with a website. Building a site is a great way to keep a jump on the competition, by getting our name and business out in the public. HH will build the website to be as user friendly as possible. We will do this by allowing renters to create accounts to pay their rent online by using Google’s shopping cart method. HH will also build relationships with area plants that have contractors staying in the area for short term work. By building this relationship, we will be able to branch into the international market with referrals from the plants and designing our website to be internationally friendly. Of course having a business website does cost money but, in order to the HH name out there, we have to be willing to spend money to make money. Howard Holdings Online Expansion Viability Howard Holdings is a family business in Southern Ohio that started in...
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...------------------------------------------------- Customer relationship management From Wikipedia, the free encyclopedia Customer relationship management (CRM) is a widely implemented model for managing a company’s interactions with customers, clients, and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support.[1] The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients to return, and reduce the costs of marketing and client service.[2] Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments.[3] Measuring and valuing customer relationships is critical to implementing this strategy.[4] Contents [hide] * 1 Benefits of Customer Relationship Management * 2 Challenges * 2.1 Complexity * 2.2 Poor usability * 3 Fragmentation * 3.1 Business reputation * 3.2 Security, privacy and data security concerns * 4 Types/variations * 4.1 Sales force automation * 4.2 Marketing * 4.3 Customer service and support * 4.4 Appointment * 4.5 Analytics * 4.6 Integrated/collaborative * 4.7 Small business * 4.8 Social media * 4.9 Non-profit and membership-based * 5 Strategy * 6 Implementation * 6.1 Implementation...
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...to dictate a message to the mass market. With changes in time, requirements, technology and expectations of the customers, the field of marketing itself has experienced significant changes. It is noteworthy to mention that marketing dynamics shifted from ‘‘farm centric’’ to ‘‘consumer centric’’ perspectives. With evolution in the market dynamics, it is becoming a difficult issue to choose the correct channel to reach the consumer within a specific target group. The ‘‘dotcom era’’ in the history of marketing will probably be remembered exclusively for its contribution towards innovation based marketing. The development of internet technology has impacted us by changing our behavior, decision making process, relation with one another and the way of doing business. The internet has decreased the distance between places, crossing geographical borders and allowing us to build and bring all the necessary things we require, and discarding all the old communication techniques. Highly intense information based market is forcing marketers to look at the world with new perspectives at the new opportunities. Diverse culture, social restrictions are no longer able to hinder the information flow. At this transitional phase as the world is moving towards ‘‘super globalization’’, it is better to be ready to market our products in the best possible ways to reach the maximum target customers. A new era-new demand-exclusive marketing strategy It would have been easy for marketers if and only if, there...
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...Marketing Assessment 5 June 29, 2015 Geico: Successful Marketing Case Study Abstract Geico is an insurance company who writes multiple lines of insurance, yet focuses on the auto insurance segment of the industry. They excel in marketing to their target audience which is what makes them an excellent organization for a marketing case study. Their marketing efforts propeled them from the small direct-marketing company they began as to one of the leading auto premium writers in the United States today. By reviewing the marketing system and efforts of Geico, it is easily seen how the right marketing tools and strategies in place can prove successful for any organization. Company Overview Geico is an insurance company founded by Leo Goodwin in 1936 that began as a carrier for the select market of military and government personnel, but later expanded to offer services to everyone (Geico, n.d.a). Goodwin had a vision to create a successful auto insurance business by targeting such a specific group, and he certainly succeeded. Since ending their first year with 3,700 auto policies, they now have more than 13 million policies in force and are still going strong (Geico, n.d.a). In fact, the growth from its meager beginning to now has risen it to the second position of persinal auto insurers in the United States, a nice position in such a competitive market (Das, 2014). They are well-known amongst consumers primarily due to their interesting advertisements which have featured...
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...REPRINT R1407E SPOTLIGHT ON THE NEW MARKETING ORGANIZATION Unlock the Mysteries of Your Customer Relationships Are you connecting with consumers the way they want you to? by Jill Avery, Susan Fournier, and John Wittenbraker This document is authorized for use only by Yin-Hao Chen in MARK-570_CONSUMER BEHAVIOR.SPRING.2015 taught by Rebecca Hamilton, at University of Maryland from December 2014 to June 2015. For the exclusive use of Y. Chen, 2014. SPOTLIGHT ON THE NEW MARKETING ORGANIZATION Spotlight ARTWORK Markus Linnenbrink SAMMYDAVISJRKEEJOO ANDPETERLAWFORD 2010, c-print, epoxy resin on wood, 24" x 31" Unlock the Mysteries of Your Customer Relationships Are you connecting with consumers the way they want you to? by Jill Avery, Susan Fournier, and John Wittenbraker C onsumers have always had relationships with brands, but sophisticated tools for analyzing customer data are finally allowing marketing organizations to personalize and manage those relationships. With this new power comes a new challenge: People now expect companies to understand what type of relationships they want and to respond appropriately—they want firms to hold up their end of the bargain. Unfortunately, many brands don’t meet those expectations. Despite the “R” in CRM and the $11 billion spent on CRM software annually, many companies don’t understand customer relationships at all. They lack 2 Harvard Business Review July–August 2014 COPYRIGHT ©...
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... 3 INTRODUCTION ................................................................................................................................. 4 PART 1: OVERVIEW – INTERNET PROPERTIES & MARKETING IMPLICATIONS .................. 6 Website analysis................................................................................................................................. 6 Web and other online content ............................................................................................................. 7 Website properties (table 1.6) ............................................................................................................. 8 Website design and usability features ................................................................................................. 9 Multimedia and interactive features .................................................................................................. 10 PART 2: BENEFIT, COST AND VALUE CREATION ..................................................................... 13 Customer relationship management .................................................................................................. 13 Benefit, cost and value creation ........................................................................................................ 14 Customer experience ......................................................................................................................... 15 Marketing mix...
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...Part 1: Defining Marketing and the Marketing Process (Chapters 1–2) Part 2: Understanding the Marketplace and Consumers (Chapters 3–6) Part 3: Designing a Customer-Driven Strategy and Mix (Chapters 7–17) Part 4: Extending Marketing (Chapters 18–20) 4 Marketing Information to Gain Managing Customer Insights Chapter Preview In this chapter, we continue our exploration of how marketers gain insights into consumers and the marketplace. We look at how companies develop and manage information about important marketplace elements: customers, competitors, products, and marketing programs. To succeed in today’s marketplace, companies must know how to turn mountains of marketing information into fresh customer insights that will help them deliver greater value to customers. Let’s start with a good story about marketing research and customer insights in action at P&G, one of the world’s largest and most re- spected marketing companies. P&G makes and markets a who’s who list of consumer megabrands, including the likes of Tide, Crest, Bounty, Charmin, Puffs, Pampers, Pringles, Gillette, Dawn, Ivory, Febreze, Swiffer, Olay, Cover Girl, Pantene, Scope, NyQuil, Duracell, and dozens more. The company’s stated purpose is to provide products that “improve the lives of the world’s consumers.” P&G’s brands really do create value for consumers by solving their problems. But to build meaningful relationships with customers, you first have to understand them and how...
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...the question. ____ 1. A new-product strategy: a. | links the new-product development process with the objectives of the marketing department, the business unit, and the corporation | b. | is part of an organization's overall marketing strategy | c. | specifies the roles new products play in the organization's overall plans | d. | describes the characteristics of products the organization wants to offer and the markets it wants to serve | e. | is accurately described by all of these | ____ 2. The first stage of the new-product development process is: a. | screening and concept testing | b. | establishing the new-product strategy | c. | exploring opportunities | d. | developing a business analysis | e. | the building of a prototype | ____ 3. A manufacturer of office furnishings is finding it difficult to compete with cheaper imported merchandise. Which of the following is a potential source of new-product ideas that would allow it to compete more effectively? a. | current retailers who carry the manufacturer's equipment | b. | its foreign competitors | c. | the company's employees | d. | customers who have requested its catalogs | e. | all of these | ____ 4. Which of the following stages of the new-product development process is the first filter in the new-product development process and serves to eliminate new-product ideas that are inconsistent with the organization's new-product strategy or are obviously inappropriate for some other...
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...INT401I/202/0/2013 Tutorial Letter 202/0/2013 Information and Technology Management IV INT401I Year module School of Computing This tutorial letter contains the model answers to assignment 1 & 2, and the Oct/Nov 2013 examination and Jan/Feb 2014 supplementary examination preparation notes. Bar code CONTENTS 1 TUTORIAL MATTER THAT YOU SHOULD HAVE RECEIVED TO DATE .................................. 3 Plagiarism ................................................................................................................................... 3 2 THE MODEL ANSWERS TO ASSIGNMENT 1 ........................................................................... 3 3 THE MODEL ANSWERS TO ASSIGNMENT 2 ........................................................................... 6 4 THE OCT/NOV 2013 EXAMINATION AND JAN/FEB 2014 SUPPLEMENTARY EXAMINATION PREPARATION NOTES ............................................................................................................12 2 INT401I/202 1 TUTORIAL MATTER THAT YOU SHOULD HAVE RECEIVED TO DATE Title Description TUTORIAL LETTER 101/0/2013 Tutorial letter 101 contains important information about your module. VERY important information. TUTORIAL LETTER 201/0/2013 TUTORIAL LETTER 202/0/2013 Tutorial letter 202 contains the model answers to assignment 1 & 2, and the Oct/Nov 2013 examination and Jan/Feb 2014 supplementary examination preparation notes (this tutorial letter). Plagiarism NB: Plagiarism is the act of taking words...
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...Haakon André Elveslett Jensen Social media in business‐to‐business branding How B2B companies can thrive in the new era of digital communication Master’s thesis Trondheim, June 2010 Academic supervisor: Arild Aspelund Norwegian University of Science and Technology Faculty of Social Sciences and Technology Management Department of Industrial Economics and Technology Management Executive summary The objective of this study is to explore the implications of social media for business‐ to‐business brand management. Thought leaders of social media and branding in the online environment are currently doing their work out in the field, whilst the academics are lagging behind. In order to shed some light on issues regarding how B2B companies should manage opportunities and challenges in the social media space, this master thesis seeks to address the topic by conducting an exploratory study on how B2B companies can utilise social media to enhance the brand. The study is conducted using a qualitative approach. The purpose is to give an aerial view of how B2B companies should approach social media, what opportunities and threats exists, and how they should focus their online strategy to enhance the B2B brand. The theoretical part of this study builds upon business‐to‐business brand management due to the growth of B2C brands in social media. The empirical data of this study is interviews with four experts on the topic, which is further illustrated by ...
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...Making the Shift to the Next-Generation Enterprise (a multi-part series) Future of Work Enabler: Virtual Collaboration Cloud-powered social and mobile tools can help break down traditional hierarchies and enable employees across disciplines to easily locate and share business-critical insights with experts inside and outside the organization’s four walls. This report is an installment in our multi-part series that explores the shifts necessary for future-proofing your company. | FUTURE OF WORK ation Executive Summary In today’s knowledge economy, virtual teams are the norm. With expertise distributed around the world, teams “swarm” to complete a task and depart when finished. Knowledge work is not performed in linear, production-line fashion; it involves idea-sharing, iterative discussions and real-time modifications. In traditional business, change was first agreed upon, then planned and executed. But in today’s world, change happens organically, thanks to the interconnectedness afforded by social networks and the Web, otherwise known as “wirearchy.”1 Roles and responsibilities — once carved into the org chart — are fluid and ever-changing. The most valuable contributor to a project may turn out to be someone you don’t even know. Leaders aren’t appointed or anointed by management; they’re recognized by the community based on the perceived strength of their contributions. Leadership is dynamic and changes during the lifetime of a project; the way forward is often...
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...MIS 12th Edition Video Matrix ONLINE EDITION Student Instructions: 1. Go to www.azimuth-interactive.com/MIS12. 2. Enter your school .edu email address. You must have a .edu mail account. 3. Press Submit. 4. Check your email for an activation link. 5. Click on the activation link. 6. Click on the video you want to view. Chapter Videos |Part One: Organizations, | | |Management and the Networked | | |Enterprise | | |Chapter 1: Information Systems in|(1) UPS Global Operations with the DIAD IV | |Global Business Today | | | |How IT drives the UPS operation worldwide. Using smart people and smart technology, UPS delivers over 14 million | | |packages daily to 200 countries and territories, requiring the talents of 70,000 drivers who are wirelessly connected| | |to UPS main databases located...
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...RELATIONSHIP MANAGEMENT | CRM IN BANKING INDUSTRY | Submitted by- Kartikeya Vairagare 046 laxita Chauhan 048 Manvendra Gautam 050 Mohit dave 053 Pranit Bhagat 055 Piyush Shende 057 Shambhavi Singh 078 | Introduction In recent time, we has witnessed that the World Economy is passing through some intricate circumstances as bankruptcy of banking & financial institutions, debt crisis in major economies of the world and euro zone crisis. The scenario has become very uncertain causing recession in major economies like US and Europe. This poses some serious questions about the survival, growth and maintaining the sustainable development. However, amidst all this turmoil India’s Banking Industry has been amongst the few to maintain resilience. The tempo of development for the Indian banking industry has been remarkable over the past decade. It is evident from the higher pace of credit expansion, expanding profitability and productivity similar to banks in developed markets, lower incidence of non- performing assets and focus on financial inclusion have contributed to making Indian banking vibrant and strong. Indian banks have begun to revise their growth approach and re-evaluate the prospects on hand to keep the economy rolling. 1. HISTORICAL BACKGROUND Bank of Hindustan was set up in 1870; it was the earliest Indian Bank. Later, three presidency banks under Presidency...
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