Projects: Customer Relationship Management and Customers

Consumers are the most crucial factor to the environment of the company. They drive the company to profitable ends. And thus it is very essential to meet the needs of the customers at the right time and at the right place.

Nowadays, more and more enterprises, especially hotels, put specific emphasis on the management of customer relationship. They start to notice that today’s market is no longer the enterprise-oriented market, while turns to be customer-oriented. Customer Relationship Management (CRM) is a series of commercial activities that are designed to help a company obtain and maintain the closer and long-term relationship with customers, so as to understand more about each individual, and then create value for them. Thus, customers can be more valuable to the company as well. In order to implement CRM strategies, the company needs to utilize advanced information

1. How can companies deliver customer value, satisfaction, and loyalty? 2. What is the lifetime value of a customer, and why is it important to marketers? 3. How can companies cultivate strong customer relationships? 4. What is the role of database marketing in customer relationship management?

It is imperative to satisfy customers and give them an amazing experience at the company. While it cost less to sell to existing customers and companies can increase profit by selling to the same customers; if customers are satisfied, there is more chance they will come back for more services or products. Satisfied customers are a free marketing for the company. However, it is the opposite if customers are dissatisfied. Dissatisfied customer will tell 8 to 10 people about his or her experience (O’Brien, A & Marakas, G. 2004). If by any reason, representatives see that the customer is not satisfy, they should act fast and fix the problem. Furthermore, there is more chance for sale representatives to sell to an existing customer that to a new customer. A good strategy for customer retention is to reward good customers. Companies can easily do

In a highly competitive market, customers have a wide right of freedom choice and to purchase the commodity. In fact, the customer also can fire anyone in the company, because they can spend money in other places that make customer like a boss. In my opinion, the customer is a consumer of goods and services and is the foundation source of enterprise. The survival and development of enterprises rely on the trust and support of the customer. Therefore, business

The management of organizations can often be improved through systematic attention to the “customer’s needs” that must be satisfied if the organization is to survive. There are two implications deriving from this statement:

Mahadevan (2014) stated that, “The better the business can manage the relationships it has with its customers, the more successful it will become” this shows that organisations today need to understand its customers in order to succeed.

Today, more and more companies find that cultivating customer loyalty is a key factor to achieve success. Customer relationship management (CRM) focuses on the relationship between customer and company. Due to this feature, many companies are trying to establish their own CRM system for helping them to connect new customers and boost old customers’ long-term loyalty. CRM systems include operations and analysis, and relationship marketing strategy and supporting, customer-centric business processes (Buttle 2004). With the development of information technology (IT), using CRM system

Customers – the special requirement of the customer can be the new product of the market

Customers are another vital stakeholder in which the organisation has to keep happy. Without customers the organisation would not

CRM a combination of policies, processes, and through the organize the implementation of the strategy to unify the Customer interactions, and provide tracking apparatus the customer information. This involves the use of technology In attracting new and profitable customers; and Forming contact the existing ones. Customer relations management is an emerging tool allows the seller to maintain its presence Dynamic the marketing environment. Customer Relationship management of is a business imperative Agenda. Latest research conducted BY BUSINESS LINE Intelligence showed that six ten company since it began in the CRM journey.CRM deep understanding customer needs expect a good attitude and behavior Organize and maintain A customer database and Innovation Strategy in for clients. The customer relationship management is the goal Order to ensure levels of customer’s satisfaction and joy with the company (Pahoa and Versa interface, 2008).

This research paper attempts to conduct a study of deployment of Customer Relationship Management (CRM) best practices in the context of retail banking, specific to HDFC private sector retail bank, one of the largest banks in India with presence in 14 other countries. The research objective involves describing how the selected bank is deploying the Customer

The role of customer relationship management is significant to facilitate the customer satisfaction within several industries including banking. Integration of marketing strategy, customer relationship and customer satisfaction processes results into reduced cost and performance improvement. Business allows the optimal use of resources resulting into optimal performance; it is facilitated through several initiatives of customer service and marketing tactics. The assimilation of information systems and customer relationship management processes facilitates effective flow of communication for all the participants of the systems. The increased flow of information allows the organizations to optimize the business processes performance. Cost reduction, shorter lead time, and improved communications are substantial benefits of customer relationship management.

Examination Paper: Customer Relationship Management IIBM Institute of Business Management Examination Paper Customer Relationship Management Section A: Objective Type (30 marks) • • • This section consists of Multiple Choice questions & Short notes type questions. Answer all the questions. Part One questions carry 1 mark each & Part Two questions carry 4 marks each. MM.100

The Indian banking industry is transforming from its traditional transactional concept to Relationship Marketing. The tag “Customer is King” depicts that the customer is the focal point for any business scenario. The CRM concept has been implemented with the intention of better understanding of needs, requirements and trying to maintain a long term relationship with the customer. Maintaining personalized attention approach, managing database, creating customer value and appropriate retention strategies is the