“Role of Crm in Telecom Sector”

Marketing – The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and develop and maintain favorable relationships with stakeholders in a dynamic environment.

An effective Customer Relationship Management (CRM) program can be used to identify, retain, satisfy and obtain customers by using technology to optimize strategies for understanding customers’ needs to manage business interactions with current, former, and prospective customers. Additionally, CRM also enables companies to maximize internal, external, marketing and customer service operations to better address the needs of the customer building a better relationship with customers that a more profitable. (Ahmad & Buttle, 2001)

Every company depends on an efficient marketing program to fulfill customers' needs. Marketing is a process of finding out what the customer wants and meeting those requirements. Within the company, the marketing group has to consider customer values and customer satisfaction before considering offering a product. Marketing is part of our everyday world, and can be perceived everywhere and every time. At any time, everyone has been exposed to different kinds of marketing or advertising depending upon personal necessities such as T.V commercials, radio, internet, etc.

In the context of relationship marketing, customer satisfaction is often viewed as a central determinant of customer retention (Henning-Thurau, 1998).” Customer satisfaction is one piece of the puzzle to and overall well-executed advertisement and essentially product. Advertising is important to the customer, who is the one who purchases the product after they have been made aware of the product’s availability. Advertising helps find the best fit for customers via product. Advertising is important to society because it helps to educate the masses. Advertisements go beyond the products and they address social standards and current issues, as well. There are many elements that make up a successful advertisement and or campaign.

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

There are several objectives that the customer relationship management is being implemented, such as customer identification, customer differentiation, customer interaction and personalization (Peppers, 1998). First, it is very important for a company if it able to identify its customers. Different companies offer different products and services which may not satisfy all customers. The costs and efforts of acquiring new customers can be reduced and focused when the company finds out the customers who are its potential customers. For example, e-mail distribution or mailing services can be used if the company has the customers’ profile. Next, the company can use the services to differentiate its products with others. The company may sell or provide the similar products with the other

Definition marketing in the business context: a process by which companies create value for customers and build strong customer relationships in order to capture value from the customer in return.

From the evidence above all the differences listed between business and consumer marketing are deemed important. Customer relationship management I feel is a key factor that needs to be acknowledged. Business-to-business companies are relationship driven, whereby a business will offer another organisation their product or service – in order for repeat business to occur relationship management is vital, hence the need for

In the past two decades, huge marketing and mass marketing have been changed competitive landscape due to growing goods available for consumers. Proliferation of business activities would focus on customer relationship management, which is to achieve competitiveness (Chen et al., 2003). As the concept of customer relationship management has a significant change, there are a variety of CRM definitions depending on the angle of view. An important concept in customer relationship management is customer value. Customer value is the customer relationship to the enterprise 's financial value. It can be reflected in the contribution margin or net profit. Customer value is widely used by enterprises to evaluate their marketing efforts.

Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return ( satisfying customer needs

Marketing is the process in which goods and services moves from concept to customer and in which wants changes into needs. Lots of people thinks marketing is just about advertise and sales but marketing are something that connects with customer and maintain a good relationship.

Most people believe that CRM is just a system that will run their business without making any efforts which is totally wrong. The CRM is a strategy that is run by people to acquire, manage, select, grow and retain a strong relationship with the right customers with the best long-term profit potential. This cannot be done with a CRM system without a good strategy that puts the employees on the right track.

For many reasons, customer’s relationship management in marketing financial services gives a whole host of suggestions as to how companies can improve their Customer Relationship Management and achieve their anticipated returns on investment. It shows how to avoid the main problems and challenges some of the conventional wisdom about what is happening in the financial services market.

The marketing process has gained more and more significance within the modern day business setting. As competition intensifies and the demands of customers exponentially increase, the economic agents are forced to devise and implement new strategies that attract and retain customers. In other words, it is no longer sufficient for a company to provide its customers with high quality products and services, but it has to also make use of complementary solutions, such as marketing strategies.

There are several aspects of Customer Relationship Management (CRM). The key aspects include the following. Business to business relationship, this includes relationship with suppliers, distributers and partners or retail channels. This is an external network which works as a support system for the internal networks. The second aspect is data analysis, this is the backbone of CRM system. The customer data that should be analyzed is constantly added and then combined with predictive analytics to plan and strategize the targeted marketing campaigns, conceive new strategies and new product models, and finally analyze the success of CRM model. The third aspect is the customer interaction channels. These channels are direct indicators of the