MKT610 Handouts Lectures 1-45

TABLE OF CONTENTS · CUSTOMER SERVICES · HISTORY OF CUSTOMER SERVICE · CUSTOMER COMPLAINTS · IMPLEMENTING CRM

HOW TO CONSTRUCT CRM PROGRAM?

HOW TO CONSTRUCT CRM PROGRAM?

IMPROVING CUSTOMER RELATIONSHIPS · GENERAL TIPS TO KEEP YOUR CUSTOMERS SATISFIED · CUSTOMER SERVICE TRAINING WORKSHOP · CUSTOMER SERVICE TRAINING WORKSHOP · STRATEGIC MANAGEMENT · STRATEGY IMPLEMENTATION INVOLVES

REASONS WHY STRATEGIC PLANS FAIL?

SPECIFIC SKILLS FOR CRM · CUSTOMER RETENTION · CUSTOMER LOYALTY AND ITS TYPES · CUSTOMER LOYALTY

WHY DO CUSTOMERS DEFECT?

PUBLIC RELATIONS · PUBLIC RELATIONS · CRM- ONE- TO-ONE MARKETING TO THE NEXT LEVEL · APPLYING CUSTOMER RELATIONSHIP MANAGEMENT · CRM CONCEPTS · CRM FUNCTIONS · CRM-Based Marketing and Sales · PERSONALIZING WEB SITE · AN INSIGHT INTO CRM AND ECRM · WHAT IS ECRM · CRM APPLICATIONS AND OBJECTIVES · INTRODUCTION AND OBJECTIVES OF A CRM PROCESS · FEATURE OF GOOD CRM · CUSTOMERS' EXPECTATIONS

WHAT DO CUSTOMER WANT AND THE APPEAL THAT WE CAN MAKE?

SPECIFIC APPEALS THAT CAN BE MADE

HOW A CUSTOMER DECIDES OR ACCEPTS

HANDLING A DIFFICULT CLIENT?

COMMUNICATION AND CRM · COMMUNICATION AND CRM · ACHIEVING GOOD CRM · CONCLUSION

Marketing is one of the new discoveries in business management. Of late, marketing has come to occupy significant position in the overall strategic studies. Various challenges are emerging in marketing as well as new approaches are being made in its study to view its different aspects Of the many things it has been recently realized that customer is the most important elements in marketing and its sustenance and retention is far more important than any other marketing functions The approaches in marketing functions are constantly changing in tune to the challenges at the marketing fronts. At one time acquiring new c customers was the challenge before marketers. New markets, new areas, new world was the name of the game. Today, marketers are faced with retaining customers as much as challenging as acquiring. Thus traditional approach is insufficient to achieve marketing goals. New approach to marketing was desired. Hence the focus was shifted to customers from markets. The entire importance is now given to customers rather than other things. Indeed, other things are important but focus shifts to customer as a unit. Hence customer relationship was introduced as a tool to run business profitably and smoothly.

Today, Customer Relationship has evolved as a separate discipline and termed after its name. We must first draw difference between the two: Traditional marketing approach Customer Relationship Marketing approach (CRM)

CRM is different from Traditional marketing approach in the following ways:

The focus of Traditional Marketing approach is on individual transaction and does not concern continuous relationship with customers. The thrust of TM is on gaining new and more customers and not on retaining existing ones. Whereas CRM focuses on continuous multiple transactions, rather than individuals ones. CRM focuses more widely on customers and entire functions connected with value creation and delivery of chain of organization. CRM attracts, maintains and enhances relationship as viewed by various thinkers. CRM is sel ing by using psychology rather than economic inducements to attract and retaining customers.

Defined:

Customer Relationship Management (CRM) acquiring customers by understanding and fulfilling their requirements more than expectations and attracting customers through specific strategic marketing approach --- it is a process of total commitment on the part of organization--- It includes the Methodologies and Strategies and Capabilities that help an enterprise organize and manage Customer Relationships. It is the col ection and distribution of all data to all areas of the business. From above definition, it is clear that CRM is one step ahead of traditional marketing approach. CRM infect, focuses all direction to retention of the customer –once the customer has been acquired

The General Purpose of CRM is to enable:

Organizations to better manage their customers through the introduction of reliable systems and methods. This enables organizations to service their existing customers more emphatically and more forcefully Develop processes and procedures for interacting with those customers. So that the customer is provided services under the framework of systems and regulations. We will study all these systems to ensure a continuous system to keep our customers wel –serviced.

Major Areas of CRM focus on:

Generation and servicing more loyal customers. Expansion of customer base Reduction of advertising costs Increase in profitable customers Ease in introduction of new products Personal Information Gathering and Processing, Self-Service. Let us briefly review each one of the above to get to know on what areas we will concentrate.