...Definitions of CRM “the process of formulating and implementing marketing activities characterized by an offer from a firm to contribute to a designated cause when customers make purchases” (Varadarajan and Menon, 1988: 60). Despite being broadly accepted, this definition has been widened through the years with the contributions of other authors. Specifically, it was in the mid-90’s when Kotler and Andreasen defined CRM as “any effort by a corporation to increase its own sales by contributing to the objectives of one or more nonprofit organizations” (Kotler and Andreasen, 1996: 304). Two years later, Business in the Community, an organization which develops CRM programmes in the UK, stated that CRM programmes were a commercial activity in which companies were linked to social causes for mutual benefit (Business in the Community, 1998). And one year after, in 1999, Pringle and Thompson stated that CRM was “a strategic positioning and marketing tool which links a company or brand to a relevant social cause or issue, for mutual benefit” (Pringle and Thompson, 1999: 3). This statement widened the contributions made until that date, stating for the very first time that CRM was a strategic marketing tool and therefore a long-term strategy. What was more, and according to these authors, “the distinctive characteristic of the true Cause Related Marketing is longevity. Charity promotions are by definition shorttermist both in the actual period during which they...
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...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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...Restaurants Customer Relationship Management (CRM) Analysis Andres Khamis Final Exam 1.- Panera Bread is an American chain of bakery-café fast casual restaurants in the United States and Canada, offerings include soups, salads, pasta, sandwiches, and bakery items. Taking in consideration Panera’s target market, brand image and goals as organization, there are certain steps that must be part of the implementation of a CRM System in order to ensure it success and therefore increasing their customer retention, customer experience and brand identification among other several benefits of the correct execution and use of the available CRM Tools and resources, these steps are listed below and were chosen, vetted and particularly applied for the University Shopping Center Branch. * Define and quantify business goals Panera Bread Manager or CRM Director should define how the CRM initiative will either increase revenues from customers or decrease the cost of acquiring and serving them. Also should define a method for estimating the size of the expected benefit * Formulate CRM strategies and tactics To achieve the defined goals, identifying the actions to be taken for each customer-facing function (transaction/purchase) should be the following step, including marketing tactics, sales methods and service. * Establish appropriate CRM measures Panera should set a standard baseline of quality and performance before starting any CRM initiative, this will be the outline to follow...
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...to Make Social Media Work for Your Business. Enterprise Innovation, 32-33. Allen Bonde is co-founder and Chief Marketing Officer of Offerpo, a new social marketing apps company, and Managing Director of Evoke CRM, his consultancy. How can you make social media work for your business? Social networking and other forums like it give the “biggest bang for your buck as far as measurable benefit. “A strategy should begin with an assessment of business goals…… and customer needs.” Social CRM should be phased in and not just jumped into lightly. 10 steps for creating a social networking business strategy: Create a mission statement, assign owners, outline employee policies, identify existing communities, create a marketing plan, develop individual channel strategies, develop community strategies and programs, develop your platform strategy, create a social business dashboard and publish an action plan. Brandel, M. (2010, July 12). Are You Listening? Computerworld, pp. 12-15. Mary Brandel is a contributing writer for Computerworld. Now that consumers are sharing their experiences through Twitter, Facebook, YouTube and other outlets at the speed of thought it is quickly becoming an essential piece of any company’s risk management and customer engagement management. IT departments and CIOs should get involved to help combine social media analysis with data from other business silos to gain new knowledge about customers. Companies must figure out how to respond to social network chatter...
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...WEBSITE QUALITY EVALUATION FOR paytm.com The aim of this project is to evaluate the quality of Paytm.com. Website quality is how well a website is designed and how well the design meets the user’s satisfaction. Website quality could be measured from two perspectives: programmers and end users. The aspect of website quality from programmers focus on the degree of maintainability, security and functionality etc while the end-users are paying more attention to usability, efficiency, creditability, etc. Paytm.com is an online recharge website. URL WEB ADRESS IS www.paytm.com OFFICIAL PAYTM.COM HOMEPAGE In order to define the efficiency of this website, a set of website quality models is used to quantify it. QUALITY EVALUATION MODELS The characteristics of Paytm.com quality evaluation models include: * Functionality * Reliability * Usability * Efficiency * Maintainability * Portability These models are further sub grouped into accuracy, suitability, interoperability, confidentiality, availability, fault tolerance, security, ease of use, comprehensibility, level of communication, attractiveness, visibility, flexibility etc. as shown in the hierarchy below. Paytm.com was put to test with each factor in the image by specialists and end user’s. The table below shows the results of the test. USABILITY Efficiency | Paytm.com responds to the user in time | User-friendliness | The user interface capabilities of Paytm.com website provide a good supportive experience...
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...STRATEGY PROCESS MODELS 1.0 STRATEGIC ANALYSIS Business Process And Operation Air Asia has fostered a dependency on Internet technology for its operational and strategic management, and provides an online ticket booking services to traveler online. The following shows the home page of Air Asia.com as the company key channel of marketing and sales. Exhibit 1 – Air Asia.com Home Page To book a flight with Air Asia, customers can either choose the following channels or simply visit the Air Asia.com home page and follow the below 5 steps. 1. Call centre 2. Sales office and airport sales counter 3. Authorized travel agents 4. Mobile booking via mobile.Air Asia.com or 5. Online (http://www.Air Asia.com) in 5 easy steps as shown below. Step 1 - Search Step 2 - Select Step 3 - Guest & Contact Step 4 - Payment Step 5 – Itinerary The Product Life Cycle (PLC) Air Asia, Airlines Company with 58 flight destination is in the growth phase position of Product Life Cycle (PLC) stage. The growth phase is when loyalty begins to be built up. Some products or services can be taken up by the customer base very quickly and achieve rapid growth. Sales of Air Asia Airlines grew tremendously in every country in which they were available. It is during the growth phase that the product will begin to recover its development and launch costs and slowly move through the break – even mark to begin to make a profit for the organization. During the growth stage of a new...
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...Social Media in Business: Recent and Future Trends Social Media in Business: Recent and Future Trends Taylor M. Smith Eastern New Mexico University Social Media in Business: Recent and Future Trends In today’s world, technology surrounds us. Our society is constantly evolving, and is ruled by technology. One of these technologies is social networking through social media. Social networking is becoming a part of everyday life for many people around the world. Social media sites such as Facebook, Twitter, and Linkdin are completely free and allow users to interact with other people across the globe in a matter of seconds. Although these sites may have been originally intended for personal use, individuals are not the only ones using social media sites to communicate with one another. Business, small and large, are also implementing social networking strategies and professional networking to access more potential customers. Social media allows businesses to reach out to their customers – for free. This interaction with customers via the Internet is known as social customer relationship management. Effective social CRM and social media use can be an indispensible marketing tool to a firm by helping to build customer relationships and loyalty, engage customers in conversations, and offer promos and discounts. These are just a few of the many benefits that social networking has to offer businesses and companies. To understand how social media can be beneficial for a...
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...CONTENT PAGES 1.0 INTRODUCTION…………………………………………………………………2 About the product…………………………………………………….………….2 2.1 Company background…………………………….………………….....7 2.2 Business process and operation…………………..………………….9 2.3 Low cost carrier (lcc) business model……………….………………11 2.4.1 Business model……………………………………………...11 2.4 Competitive Advantages …………………………..…………………..12 2.5 Historical Performance………………………………..……………….13 2.0 ANALYTICAL SWOT ANALYSIS……………………………….……………..18 3.0 PRODUCT ANALYSIS…………………………………………….……………21 4.6 The product Life Cycle (PLC)………………………………....………21 4.0 STRATEGIS AND TACTICS………………………………………..………….24 5.0 SEGMENTATION, TARGETING AND POSITIONING ANALYSIS 6.7 Market Segmentation………………………………………..………….26 6.8 Target Market Profile……………………………………………………30 6.9 Positioning………………………………………………………….…….32 6.0 MARKETING STRATEGIES AND EVALUATION OF MARKET PROGRAM ELEMENTS………………………………………………………………………..33 Refferences…………………………………………………………………………………………………………….36 1.0 INTRODUCTION AND HISTORY a. Introduction of the product Name of the company: Air Asia Berhad ABOUT THE PRODUCT Air Asia is a low cost airline based in Kuala Lumpur, Malaysia. It operates scheduled domestic and international flights and is Asia’s largest low fare, no frills airlines. Air Asia pioneered low cost travelling in Asia. It is also the first airline in the region to implement fully ticketless travel and unassigned seats. Its main base...
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...1. What is CRM? Define CRM is concerned with the creation, development and enhancement of individualized customer relationships with carefully targeted customers and customer groups resulting in maximizing their total customer life-time value. Example of CRM Telemarketing teams CRM software can be particularly valuable for businesses that sell over the phone. A specialist business magazine has found that its current practice of keeping leads in different central databases makes it difficult for sales people to systematically call prospective subscribers. The publisher implement a CRM solution with a single, central database connect to a telesales software package. Now the publisher's sales force has an automated system that brings up the details of a lead whilst dialing the number at the same time. 2. How CRM is important to brand management? -Able to segment markets more efficiency -Follow trends of mass customization -Identify customer needs with right product -Extend brand equity as a total corporation Example Luxury brands have so far been reluctant to adopt any of the classical tools of mass marketing. One of these is customer relationship management (CRM). Prestigious brands are, however, now starting to examine the benefits of the ‘lifelong customer value’ approach, beyond building the social prestige of their names. This paper develops ‘why’ luxury brands need to apply CRM systems and ‘what’ they could achieve by doing so, and addresses ‘how’ this could...
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...its team turnover. How would you respond to Apted’s request to keep the best people in the Syngenta team? How would you deal with this issue from Syngenta’s perspective? 4. How should Sanjay deal with the challenges and tensions that have arisen with the use of the RSC? Could you help Sanjay design an action plan to improve the RSC? Should Infosys make it a priority for EMs to get their clients to embrace RSCs? Should Sanjay suggest using the RSC earlier in the relationship with a client? Is there any change that you would introduce to the content of the RSC? 2. Chantale and Clinton 1. What were Chantale and Clinton’s service expectations? How did they develop? 2. What is your evaluation of the Canadian’s provision of repair service? 3. Should The Canadian or other stores be concerned about incidents of this type? Why or Why not? 4. What do you believe were the underlying causes of The Canadian’s perceived performance? Why did these develop? 5. What service recovery alternatives were available to The Canadian? 6. Could Chantale and Clinton have done anything differently? If yes, what? If no, why not? 7. The case ends on July 5, 2007. Should they take any further action at this time? 3....
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...Customer Relationship Management (CRM) Services, Support, Sales, Marketing Jasim January 2016 Table of Contents Section 1 What is CRM Section 2 CRM in Telecom Business Section 3 Table of Content CRM within IT Landscape Section 4 CRM Data Source Section 5 CRM and Business Strategy Section 6 CRM and Organization Section 7 CRM as A Differentiator Section 8 Current Telecom Challenges Section 9 Current and Decision Making What is CRM ? “(CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth.” “Customer Relationship Management – in short CRM - is a customer-oriented strategy. The company and its processes are customeroriented. The aim is to increase customer satisfaction and long-term customer loyalty to the company. This can be achieved by an individual customer care.” Source: SearchCRM Source: SmartCRM A management philosophy according to which a company’s goals can be best achieved through identification and satisfaction of the customers' stated and unstated needs and wants. Source: BusinessDictionary What is CRM ? Customer Service Sales Marketing Customer Support CRM in Telecom Business Telecom operators are considering ...
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...Customer Relationship and Corporate Governance in Sustainability of Business Vinod Krishna U. Makkimane Sr.Faculty Institute of Business Management & Technology Banashankari 3rd Stage, Bengaluru. Sustainability is a dynamic concept born out of the environmental debate of the last quarter century. There is growing concern nationally and internationally about biodiversity and protection of plants and animals and community based activity. It is important to view sustainable efforts from global perspective that addresses socio-economic and environmental issues. Sustainable Development as a norm has been accepted in the literature ever since the publication of the Brundtland Commission report in 1987.The Brundtland Commission defined Sustainable Development as that which "meets the needs of the present without compromising the ability of the future generations to meet their own needs". A primary goal of sustainable development is to achieve a reasonable and equitably distributed level of economic well being that can be perpetuated continually for many human generations. It also implies using renewable natural resources in a manner that does not eliminate or degrade them, or otherwise diminish their usefulness for future generations. Sustainable development also requires depleting non-renewable energy resources at a slow enough rate so as to ensure the high probability of an orderly society transition to renewable energy sources. Mahatma Gandhi has observed long back that...
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...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.[1] 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.[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] Benefits of CRM A CRM system may be chosen because it is thought to provide the following advantages:[citation needed] Quality and efficiency Decrease in overall costs Decision support Enterprise agility Customer Attention [edit] Challenges Successful development, implementation, use and support of customer relationship management systems can provide a significant advantage to the user, but often, there are obstacles that obstruct the user from using the system to its full potential. Instances of a CRM attempting to contain a large, complex group of data can become cumbersome and difficult to understand for an ill-trained user. Additionally, an interface...
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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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...------------------------------------------------- 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 issues * 6.2 Adoption...
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