...Customer Relationship Marketing ------------------------------------------------- Customer Relationship Marketing The Importance Of CRM in Business-to-Business Practices The Importance Of CRM in Business-to-Business Practices Contents 1. Introduction 2 2. The Importance of Customer Relationship Marketing 3 2.1 Business Buyer Characteristics 4 2.2 Collaborative Relationships 5 3. Customer Relationship Marketing Strategies 6 3.1 Acquiring the right Customers 6 3.2 Crafting the right value proposition 7 3.3 Instituting the best process 8 3.4 Motivating employees 8 3.5 Learning to retain customers 9 4. Conclusion 9 5. Reference List 10 1. Introduction According to Gordon, customer relationship marketing is defined as ‘…the on-going process of identifying and creating new value with individual customers and then sharing the benefits from this over a lifetime of association’ (Weinstein, 1999). It is very important to note the evolution of Customer Relationship Marketing in the business world. Communicating a generic message to a large group of people was the norm in the past (Belch and Belch, 2007). This proved to be a very expensive method to keep as this non-specific message did not serve well to understand and deliver each and every one of the individual needs of the customer (Belch and Belch, 2007). The 1980’s saw the advent of database marketing which was the first stage in the journey to efficient Customer Relationship Marketing. The database...
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...qwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmqwertyuiopasdfghjklzxcvbnmrtyuiopasdfghjklzxcvbnmqwer...
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...INTRODUCTION Marketing is about identifying and meeting human and social needs. One of the shorter goods definitions of marketing is “meeting needs profitably.” People were unable to locate some of the items they desired most, it created an online auction clearinghouse. When IKEA noticed that people wanted good furniture at a substantially lower price, it created knockdown furniture. These two firms demonstrated marketing savvy and turned a private or social need into a profitable business opportunity. Definition of Marketing “Marketing is defined as a social and managerial process by which individual and groups obtained what they need and what through creating and executing products and values with others” -PHILIP KOTLER “Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and it stakeholders.” Coping with these exchange processes calls for a considerable amount of work and exchange thinks about the means of achieving desired responses from other parties. Thus we see marketing management as the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value” -A.M.A (American Marketing Association) “The market include both places and region in which buyers...
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...Implementation Issues | For: Research Methods: Literature Review | Words: 1016 | Abstract The war between companies for customers is getting tougher every day. Companies need to find other ways and methods in order not only to attract new customers but more importantly to retain the existing ones. In order to do so, companies are always looking for the best alternatives than can be offered to their customers; thus trying to engage customers to long-term relationships through offering them products and services that they need the most. One of the best ways to achieve that is by starting to implement the Customer Relationship Management (CRM) strategy. Through this strategy companies will be able to acquire long term benefits, bigger customer base and a safe business future and this is exactly what this paper will show us. Here we are going to talk about CRM issues (barriers) and its implementation ways in banking industry. Many banks try to implement it; some of them fail to do it because they fail to execute its process correctly or lack management cooperation. The others that succeed construct a clear plan and train their employees effectively in order to execute it. More details about this research topic, how it works and how it fails, will be discussed. Table of Contents Abstract 2 Table of Contents 3 Introduction 3 Literature Review 4 CRM in Banking Industry 4 Implementation Barriers of CRM 4 How CRM can succeed 5 Conclusion 6 Works Cited...
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...A Report On CRM Comparison of APPLE and SAMSUNG Submitted By : Kunal Choudhary 11BSP0479 INDEX Executive Summary: 2 Introduction: 3 Objective of the Study: 6 Scope of the Study: 7 Research Methodology: 8 Limitations of the Study: 9 CRM and E-CRM implementation: 10 Major Findings: 14 Conclusion: 15 Recommendations: 16 Bibliography: 17 Executive Summary: The report studies the comparison between the Customer Relationship Management (CRM) strategies performed by Apple and Samsung with respect mainly to the Indian market and Indian Scenario. However, both the companies are big giants so they practice CRM strategies for entire world. The report clearly shows how CRM is being practiced by the companies and how e-CRM has taken over the simple CRM. Today, without technology no company can survive and so is the case with Apple and Samsung. The report studies the major findings and recommendations also. Introduction: About CRM: Customer relationship management is a broadly recognized, widely-implemented strategy for managing and nurturing a company’s interactions with 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. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the...
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...conception disseminated through this report. Sincerely Yours .…………………… Nayeemur Rahman Mia Id # 0210034 Contact: Mobile: 01711503442 E-mail: nayeemur@grameenphone.com Acknowledgement I would like to convey my respect to my course supervisor Mr. Shubhankar Shil, Lecturer, School of Business, Independent University, Bangladesh for his eager, helpful and enthusiastic guidance which encouraged me to accomplish this report on “The effects of customer service management on business performance in Bangladesh cell phone industry”. Without his incessant support this work would not have found the right track which I believe it did. Enough cannot be said to pay a proper attribute to Ms. Farzana Rahman, my manager in Trade Marketing Division. Her patience to answer my on and off-hour questions should, never be undermined to appraise its contribution to the success of this report. Customer managers of GrameenPhone, Aktel, Citycell and Banglalink enthusiastically supported the entire project. I will be happy to call them...
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...PROPOSAL FOR CRM IMPLEMENTATION AT WeCare HOSPITAL Contents Introduction 3 What is CRM? 3 Bibliography 4 Abstract Customer Relationship Management (CRM) systems helps businesses to manage customer interactions more effectively and efficiently. CRM enables businesses to understand their customer’s needs and formulate the businesses strategies with careful analysis. This paper outlines a proposal for the management in implementing a successful CRM model in WeCare Hospital, firstly giving an insight in to why businesses needs to move from business centric to customer centric way of doing business and secondly, identifying the importance to shift from the traditional CRM systems to the technologically driven CRM system. Section I- Introduction Customer Relationship Management is a system for managing a company’s interactions with the current and future customers. It involves using technology to organize, automate and synchronize sales, marketing, customer service and technical support. It can also be considered as a strategic process merging businesses strategy and system to integrate information from different functional areas of the company (sales, marketing, finance, accounting, logistic etc.) to offer a comprehensive understanding of the customer and develop stronger relationships with them through out the customer life cycle. According to (Lin & Yen, 2001: Ngai 2005), Swift (2001, p.12) CRM is an “enterprise approach to understanding and influencing...
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...CRM - Customer Relationship Management System www.xincrm.com Customer relationship management (CRM) is a widely-implemented strategy 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. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments. phases The three phases in which CRM support the relationship between a business and its customers are to: Acquire: CRM can help a business acquire new customers through contact management, selling, and fulfillment. Enhance: web-enabled CRM combined with customer service tools offers customers service from a team of sales and service specialists, which offers customers the convenience of one-stop shopping. Retain: CRM software and databases enable a business to identify and reward its loyal customers and further develop its targeted marketing and relationship marketing initiatives. Benefits of CRM The use of a CRM system will confer several advantages to a company: Quality and efficiency Decreased costs Decision support Enterprise...
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...implementation of a one-to-one programme within an emerging economy is the focus of this paper, specifically in the financial services environment. The steps in the implementation of CRM as proposed by Peppers, Rogers and Dorf (1999b) are examined and the effect on customer service in an emerging market is investigated. The findings indicate that there are positive associations with these steps and customer service. INTRODUCTION Changes in customer expectations can be identified throughout the world. Customer relationship management (CRM) strategies have become increasingly important worldwide due to these changes in expectations from customers as well as changes in the nature of markets. Changes have been noted across the world, but opportunities present themselves in South Africa and other developing countries for CRM strategies. Customer Relationship Management (CRM) is a managerial philosophy that seeks to build long term relationships with customers. CRM can be defined as “the development and maintenance of mutually beneficial long-term relationships with strategically significant customers” (Buttle, 2000). Under certain circumstances it may result in the termination of relationships (du Plessis, Jooste & Strydom, 2001). It can also Adele Berndt is currently an Associate Professor in Marketing at the University of Johannesburg. Her areas of specialisation...
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...Classic Airlines Marketing Concepts Marketing MKT/571 Classic Airlines, an airline organization who faces competition is seen in its reduction of customers’ confidence resulting in lower sales. “Classic Airlines saw a decrease in their share prices and a decrease in the number of customers enrolled in their Classic Rewards Program” (University of Phoenix, 2012). The reward program is recording reduction in the number of members and the increase of fuel and labor costs is pushing the organization to the possibility of going bankrupt. Classic Airlines has had declining profits and their stock prices have fallen which has affected the organization. This has forced the company to restructure based on extreme competition and the declining metrics disclosed from their customer loyalty report. The paper is meant to identify the products or services and its challenges plus discussing the marketing concepts that the organization uses to guide its marketing efforts. Current Situation Classic Airlines is a company with an extensive history of success however, the company has encountered difficulties in their advancement toward an effective customer service and marketing campaign. Over the years the cost of fuel and labor has been increasing and the top executives at Classic Airlines have a hard time figuring out how to cut costs, so that they can afford increases. There is a need for the airline to keep up with providing the best services...
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...Abstract In the last few years, the Iranian banking system has consistently ignored customer-orientation and its fundamental. Therefore, the banking system has not been able to use recent modern marketing very well, because of various economic and social problems such as the governmental banking system and the excess of the demand rate over supply. People do not have any incentive to use Iranian banking system, because banking system do not pay attention to their priority values and needs and just present similar services in all branches of country’s banks. Therefore, the customers refer to the banks inevitably to satisfy their elementary needs, in other words it should said that, in the current situation the people serve the banks, not the banks serve people. Regarding the environmental changes that are front of us, the banks should emphasize on its equipping, recognizing the customer’s need and expectations and regard to market situation. Because every bank can recognize and secure these needs before rivals will success in the competition field. This study attempted to analysis the role of customer communication management in Iranian banks and its weakness, strengths and goals, in addition, its executing 2 effects and the basic role of customer as a basic and critical element for remaining the banking system. Finally, some suggestions present for reforming and improving the quality of services in the banking system. Keywords: Customer Relationship...
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...201201753 Workshop 003 Table of Contents Introduction: 2 1st Technology Trend: 2 Benefits to the Marketing Department: 2 Benefits to the Business: 2 Risks & Solutions: 3 Competitors: 3 2nd Technology Trend: 3 Benefits to the Marketing Department: 4 Benefits to the Business: 4 Risks & Solutions: 4 Competitors: 4 Conclusion: 4 References: 5 Introduction: Most individuals that start a new business aim for one thing and one thing only which is success. In order for a business to progress successfully, individuals involved in the business should understand the market’s wants and needs and the many trends that takes in this world. Nowadays, technology trends are becoming a necessity and are applicable to all business needs whether to collect data and information and to attract customers or cutting costs and increasing revenue. This report will mention two technology trends that can benefit a marketing department and the business as a whole, the risks behind those technologies and the competitors that use those technologies. 1st Technology Trend: Saleforce1 ExactTarget, The Marketing Cloud, is a very powerful and useful platform and cloud application made to satisfy the needs of a marketing department in different organizations. It allows marketers to generate huge campaigns that are unique and hardly have been done before. The Marketing Cloud helps in turning consumers into loyal customers by combining various traditional digital channels like...
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...CRM Best Practices: A Case Study of an Indian Private Bank Kallol Das* and Renuka Garg** The current study attempts to conduct a study of deployment of CRM Best Practices in the context of Indian retail banking, specific to an Indian private sector bank, one of the largest banks in the country with presence in 17 other countries.The research objective involves describing how the selected bank is deploying the CRM Best Practices toward building relationships with their retail customers. The case study method is the recommended research method in such situations when we deliberately want to cover the contextual conditions because they may be highly pertinent to the phenomenon of study. The study identifies 29 CRM Best Practices after extensive literature review. There are six sources of evidence that can be used for triangulation of data. The current study uses only two to three sources of evidence and as a result the construct validity of the case study research is affected. Though several research papers have been published in the area of CRM practices, no publication was found, across the countries, in connection to CRM Best Practices. Introduction RM has been a part of marketing literature since more than a decade. Interestingly, there is still much debate over what exactly constitutes CRM (Sin et al., 2005). According to Parvatiyar and Sheth (2001), some of the themes represent a narrow functional marketing perspective while others offer a perspective that is broad and paradigmatic...
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...5)WESTPAC was the first banking corporation to be established in the year 1817.. WESTPAC collection associated with personal company’s models in addition to companies is targeted on a common goal -- delighting your 11. 8 million shoppers in addition to assisting these achieve their personal objectives. Since they daily contain with accruing resources and providing personal loan for the personal folks, marketplace, management and business segment for example. Finance institutions offer various kinds of companies with their clients. This advertising and marketing management philosophy that keeps obtaining organizational goals depends upon figuring out the wants in addition to desires associated with target audience in addition to delivering the sought after satisfactions superior to competitors. At this point it's very crystal in addition to clear that checking in addition to advertising and marketing are a couple various terminologies. Usage of promotion moderate: We have used newspapers as being a promotion moderate with the WESTPAC financial institution. Classifieds have a robust history associated with supplying exact, trusted media, but they are progressively considered out-of-date. Classifieds utilize reporters exactly who realize how to uncover fundamental details of important reports. Online resources, however, are progressively stuffing this kind of position. Some causes of employing newspapers as being a moderate associated with promotion: • Newspapers are classified...
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...Languages PROJECT “Customer relationship managment” Performed by Mikhaylyuk Sergey Marketing Faculty Group 1509 Supervised by Mironova Dina Aleksandrovna Project defended on: ______________ 2010 __ Evaluation: ____________________ Tutor’s signature: ____________________ Moscow 2010 Contents Introduction 3 Contextual Background 4 The difference between CRM and relationship marketing 7 Benefits of Individualisation 8 1.1. to the organisation 8 1.2. to the consumer 8 Application of CRM 10 1.1. Electronic Customer Relationship Management (eCRM) 10 1.2 CRM and Supplier Management 10 1.3 Customer Relationship Management and the Marketing Plan 11 Conclusions 13 Bibliography 14 Introduction The study of marketing is one that has been fixed on an evolving range of marketing segments over the last fifty years or so. A look at the progress of the changing focus of marketing shows a considerable shift in thinking. In the 1950's marketers were mostly focused on consumer goods, while the 1960's saw a shift towards industrial markets. In the 1970's effort was focused on non-profit or societal marketing, while in the 1980's the services sector received increasing attention. This leads us to the 1990's and through to the present where relationship marketing is the new focus of marketing. It has evolved from other forms of marketing and has countless benefits for businesses that use the relationship strategy. It is limitless...
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