...IMPLEMENTING CUSTOMER RELATIONSHIP MANAGEMENT AS A CORE BUSINESS STRATEGY Presented to Adrian Lim School of Business Management Nanyang Polytechnic February 13, 2014 EXECUTIVE SUMMARY This report provides an analysis and evaluation of the current customer relationship management of Singapore Café Ptd Ltd. The purpose of this report is to enhance the existing customer’s experience at Singapore Café and to increase our presence in the F&B Industry. Sources of data collection include search engines and websites of the companies. The report finds that it is important for Singapore Café to focus on our one-to-one marketing management and knowing who our customers are, where they are and what they need. However, in order to nurture better relationship with customers and retaining them, Singapore Café needs to keep a consistent system of collating information from returned feedback forms and take a step further in enhancing our programme and activities in engaging with our customers. Recommendations discussed include: * Leveraging on Social Media * Develop a centralised customer database. TABLE OF CONTENTS IMPLEMENTING CUSTOMER 1 RELATIONSHIP MANAGEMENT 1 AS A CORE BUSINESS STRATEGY 1 TABLE OF CONTENTS 3 INTRODUCTION 5 STATEMENT OF PROBLEM 5 STATEMENT OF PURPOSE 5 SCOPE OF REPORT 6 SOURCES AND METHOD 6 FINDINGS AND ANALYSIS 7 CONCLUSION 14 RECOMMENDATION 15 LIST OF FIGURES Figures 1 Costa Coffee Six-Months Sales Projection...
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...GM1114 Relationship Management 2015 Course outline The course is divided into four modules Module 1 - RM Concepts, Module 2 - RM Applications in Consumer and Business Markets, Module 3 - RM Tools, Techniques and Technologies, and Module 4 - RM Implementation Module 1: Sessions 1-4 The Concept of Relationship Management Text: Chapters 1-4 This module focuses on the conceptual and theoretical foundations of RM. A number of theoretical perspectives developed in economics, law and social psychology are being applied in RM. These include transactions cost analysis, agency theory, relational contracting, social exchange theory, network theory, and inter-organizational exchange behavior. Resource allocation and resource dependency perspectives and classical psychological and consumer behavior theories have also been used to explain why organizations and consumers engage in relational behavior. An overview of these theories will help develop insights on RM from multiple perspectives. Session 1 : CRM : The Strategic Imperatives Reading – Chapter 1 Session 2: Conceptual Foundations of CRM Reading – Chapter 2 Session 3: Building Customer Relationships Reading – Chapter 3 Session 4: Economics of CRM Reading – Chapter 4 Additional Recommended Readings Module 1 Brodie, R. J., Hollebeek, L. D., Jurić, B., & Ilić, A. (2011). Customer Engagement: Conceptual Domain, Fundamental Propositions, and Implications for Research. Journal of Service Research, 14(3), 252271. Egol...
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...Indian Institute of Management Bangalore Customer Relationship Management Faculty: Prof. G. Shainesh Term VI PGP (2008-09) 3 Credit Course Background – The primary purpose of any business is to win and keep customers. Its competitors also seek to do the same. Most successful firms have developed capabilities for attracting customers through their marketing programs. But they have shown mixed results when it comes to retaining these customers. Customer Relationship Management helps businesses in successfully implementing strategies aimed at winning and retaining customers profitably. It is also helping businesses shift from a short-term transaction based mode of operation in their interactions with customers to a long-term relationship mode. Objectives – The objective of this course is to help students understand the concept and practice of CRM derived from research and applications across businesses. These concepts and applications from real life case studies will help identify opportunities, which can be successfully implemented for long term profitability. Pedagogy – The teaching methodology will include a mix of lectures, discussions of pre-readings, presentations by practitioners, exercises and case analysis. The cases are integrative in nature but will also help develop an appreciation of specific elements of CRM. Group Project – Option 1 - Identify any organisation which is practicing some form of CRM. Start working with them to understand...
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...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 CRM system. Even if we are successful at implementing a CRM system, there is a strong possibility that it could increase competition among our competitors. This increase in competition from our competitors obtaining their own CRM system could push down profits. The Impact on our business A CRM can have a positive impact on our business, by transforming the way we enter act with our...
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...Bangalore shaineshg@iimb.ernet.in Session Coverage • Explosion of CRM in Marketing and IT • Enablers for the Growth of CRM • Criticality of Customer Relationships • Why Businesses Should Adopt CRM? • Implementing CRM G. Shainesh. IIM Bangalore 2 Explosion of CRM in Marketing & IT • Academics as well as practitioners • Conferences • Journals – Special Issues • Associations & Forums • Centers for CRM • IT Solutions – Siebel, E.piphany, Oracle, SAP, Sage CRM, Microsoft Dynamics, SugarCRM, Salesforce G. Shainesh. IIM Bangalore 3 Enablers for the Growth of CRM • Emergence of service economy, • Emergence of market economy, • Global orientation of businesses, and • Aging population of the economically advanced economies G. Shainesh. IIM Bangalore 4 Enablers for the Growth of CRM ---1 • Emergence of service economy – 60-80% of GDP of developed nations – ~56% in India – greater customer orientation in services due to simultaneity / inseparability – Services early adopters of CRM • hotels, airlines, banking, financial services, telecom and retailing. G. Shainesh. IIM Bangalore 5 Enablers for the Growth of CRM----2 • Emergence of market economy – Deregulation of industries across the world in the 90s • banking, telecommunications, broadcasting and airlines – Market oriented economy necessitated customer focus and boosted the importance of CRM. G. Shainesh. IIM Bangalore 6 Enablers for the Growth of CRM ---3 • Global orientation of...
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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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...Some may say it is the use of technology and software to achieve a better relationship with their customers, however the right way to define CRM is that CRM aligns business processes with customer strategies to build customer loyalty and increase profits over time. The difference here with this definition is that the terms technology and software don’t play an important role in defining CRM. Research has shown that many managers stumble upon one or more of the four perils while trying to implement CRM. All these perils are basically caused due to a basic assumption that CRM is a software tool that will manage customer relationship for us. The truth however is that it isn’t all about that CRM is actually the combination of customer strategy and processes, supported by the relevant software, for the purpose of improving customer loyalty and, eventually, corporate profitability. The following are the four perils of CRM. 1. Implementing CRM Before Creating a Customer Strategy 2. Rolling Out CRM Before Changing Your Organization to Match 3. Assuming that More CRM Technology Is Better 4. Stalking, Not Wooing, Customers 1. Implementing CRM Before Creating a Customer Strategy: It is very crucial to create and understand the strategies that the company plans to implement before trying to put a CRM system into practice.CRM will be very effective for an organization only when the traditional customer-acquisition and retention strategy has been conceived of and implemented...
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...cutting the unnecessary costs, achieving maximum efficiency, and implementing operations management strategies is increasing (Shaikh, 2009). To serve the different needs and expectation of various customers effectively, it is necessary to implement effective operational approaches, which enable the organization to meet the standards of particular industry. There are various operational approaches for a service and manufacturing organization, which are necessary for increasing the productivity and efficiency of the organization. I have chosen customer relationship management as an operational approach for service organization and supply chain management for manufacturing organization. Operational Approaches Customer relationship management is used to handle the organizations relationship with customers and also assists the front office business processes such as marketing, sales and service. Each contact with the customer is added to the contact history of the customer, which can be used later by the employees to analyze information from the customer's database. Enterprise service management is the most important approach used by service organization to achieve competitive advantage in the service industry. It aligns the whole organizational goal into business goal. It implements innovative rules of service within the service organization to provide better solutions. Supply chain management refers to planning, implementing and controlling all processes in an effective manner. It is...
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...Stakeholders The role of a stakeholder when implementing a quality management process depends upon the kind of business process that is being implemented. There are different kind of stakeholders like creditors, investors, employees, directors, union, and owners, also the government, suppliers, shareholders, lenders and the community in which the business gets their resources (Webfinace, 2012) are stakeholders as well. Each relationship a company develop with stakeholders has an influence on its quality management process. In this paper one will discuss two specific business were quality management process will be implemented in, the electronic retail and the travel industries. By using Best Buy for example of electronic retail for this industry will show that the stakeholders is consist of directors, employees, shareholders, suppliers, customers, and the communities. When it comes to the director’s role in implementing a quality management process is to take heed from the feedback they get from customers, employees, suppliers, and shareholders so the directors can decide what is best for the business, The role of the employee’s when implementing quality process is to pay attention to the customer’s and trace down the demand of a product or products. Thus; the role of the shareholders in implementing a quality process is to make a profit from goods or services sold, and the role of the supplier’s when implementing quality process is to keep up with the demands for...
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...by managers, administrators, and policy makers in organizations Understanding the Process of Transitioning to Customer Value Management B Muthuraman, Anand Sen, Peeyush Gupta, DVR Seshadri, and James A Narus Executive Summary KEY WORDS Tata Steel Customer Value Management (CVM) Business Markets Commoditization Spiral Value Creation/Sharing Customer Retention Customer Value Management (CVM) has emerged as an important vehicle for customer retention in business markets. Supplier firms under increasing pressure from relentless competitive forces are seeking to retain and grow the share of business from profitable existing customers as a means of finding a way out of downward spiralling price pressures. While a lot has been written in academics about the importance of CVM, several gaps remain on understanding how a large company actually undertakes this journey. Crafting competitive value chains and focusing on streams of competition are also emerging as important agenda for supplier firms since, increasingly, the end customer is no longer willing to pay for inefficiencies in the value chains. In this context, the challenge for a supplier firm in business markets is no longer restricted to getting its own operations in order, but, additionally, it must ensure that multiple interfaces that exist across the entire value chain all the way until the end customer are streamlined so that the value chain is free of value drains and every meaningful opportunity to create value...
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...by managers, administrators, and policy makers in organizations Understanding the Process of Transitioning to Customer Value Management B Muthuraman, Anand Sen, Peeyush Gupta, DVR Seshadri, and James A Narus Executive Summary KEY WORDS Tata Steel Customer Value Management (CVM) Business Markets Commoditization Spiral Value Creation/Sharing Customer Retention Customer Value Management (CVM) has emerged as an important vehicle for customer retention in business markets. Supplier firms under increasing pressure from relentless competitive forces are seeking to retain and grow the share of business from profitable existing customers as a means of finding a way out of downward spiralling price pressures. While a lot has been written in academics about the importance of CVM, several gaps remain on understanding how a large company actually undertakes this journey. Crafting competitive value chains and focusing on streams of competition are also emerging as important agenda for supplier firms since, increasingly, the end customer is no longer willing to pay for inefficiencies in the value chains. In this context, the challenge for a supplier firm in business markets is no longer restricted to getting its own operations in order, but, additionally, it must ensure that multiple interfaces that exist across the entire value chain all the way until the end customer are streamlined so that the value chain is free of value drains and every meaningful opportunity to create value...
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...by managers, administrators, and policy makers in organizations Understanding the Process of Transitioning to Customer Value Management B Muthuraman, Anand Sen, Peeyush Gupta, DVR Seshadri, and James A Narus Executive Summary KEY WORDS Tata Steel Customer Value Management (CVM) Business Markets Commoditization Spiral Value Creation/Sharing Customer Retention Customer Value Management (CVM) has emerged as an important vehicle for customer retention in business markets. Supplier firms under increasing pressure from relentless competitive forces are seeking to retain and grow the share of business from profitable existing customers as a means of finding a way out of downward spiralling price pressures. While a lot has been written in academics about the importance of CVM, several gaps remain on understanding how a large company actually undertakes this journey. Crafting competitive value chains and focusing on streams of competition are also emerging as important agenda for supplier firms since, increasingly, the end customer is no longer willing to pay for inefficiencies in the value chains. In this context, the challenge for a supplier firm in business markets is no longer restricted to getting its own operations in order, but, additionally, it must ensure that multiple interfaces that exist across the entire value chain all the way until the end customer are streamlined so that the value chain is free of value drains and every meaningful opportunity to create value...
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...Indian Institute of Management Bangalore Customer Relationship Management Faculty: Prof. G. Shainesh Room C-103, Tel : 3334 Term IV PGP (2014-15) 3 Credit Course Background – Businesses aim to win and keep customers. Its competitors also seek to do the same. Most successful firms have developed capabilities for attracting customers through their marketing programs. But they have shown mixed results when it comes to retaining these customers. Customer Relationship Management helps businesses in successfully implementing strategies aimed at winning and retaining customers profitably. It is also helping businesses shift from a short-term transaction based mode of operation in their interactions with customers to a long-term relationship mode. Objectives – The objective of this course is to help students understand the concept and practice of CRM derived from research and applications across businesses. These concepts and applications from real life case studies will help identify opportunities, which can be successfully implemented for long term profitability. Pedagogy – The teaching methodology will include a mix of lectures, discussions, presentations by practitioners, videos, exercises and case analysis. The cases are integrative in nature but will also help develop an appreciation of specific elements of CRM. Each session will require preparation of assigned reading / case and active participation by students. A significant portion of the performance...
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...where they are used in the hierarchy of an organization. For example, Transaction Processing System for worker used, Management Information Systems for Middle Managers used, Decisions Support Systems for senior managers used and Executive Information System for executive used. There are some general types of information systems. For example, a database management system (DBMS) is a combination of software and data that makes it possible to organize and analyze data. DBMS software is typically not designed to work with a specific organization or a specific type of analysis. Rather, it is a general-purpose information system. Another example is an electronic spreadsheet. This is a tool for basic data analysis based on formulas that define relationships among the data. For example, we can use a spreadsheet to calculate averages for a set of values or to plot the trend of a value over time. In contrast, there are a number of specialized information systems that have been specifically...
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...Management Implementing a CRM System into the Hospitality Industry By Submitted in Partial Fulfillment of the Course Requirements for: Managerial Applications of Information Technology MIS-535-12777 Professor Flores Table of Contents Abstract 3 Company Information 4 Business Problem 4 High Level Approach 5 Benefits of Solving Problem 6 Business/Technical Approach 7 Business Process Changes 8 Technology Solution 9 Conclusion 10 High-level Implementation Plan 11 Summary 12 References 13 Abstract Diamond Cluster Entertainment is trying to build a solid relationship with their loyal customers. For the past few year customer satisfaction have declined significantly which caused profits and competitiveness to decrease significantly. In order to increase customer satisfaction a customer relationship management (CRM) system must be implemented. Salesforce Platform is an award winning cloud based CRM system that is used in sales and marketing departments throughout the world. With this cloud based platform critical data can be accessed at all times on any device which makes it easier to connect with customers. This system offers lots of features like contact management, social intelligence, and opportunity management which will boost competitiveness and productivity of the organization. An added bonus with this system is the ability to create a custom app that can be downloaded and accessed on any device. This would help the business attract new customers and retain...
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