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Customer Relationship Management in Hotel Industry

Customer Relationship Management in Hotel Industry

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Published by Jas777
Its a 100 marks project on "Customer Relationship Management in Hotel Industry".
Its based on Hotel TAJ, OBEROI and ITC.
Its a 100 marks project on "Customer Relationship Management in Hotel Industry".
Its based on Hotel TAJ, OBEROI and ITC.

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Published by: Jas777 on Apr 24, 2009
Copyright:Attribution Non-commercial

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08/11/2013

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CRM in Hotel Industry
Chapter # 1. Introduction to the Project Topic
1.1 What is Customer Relationship Management (CRM)?
CRM entails all aspects of interaction a company has with its customer, whether it is sales or service related. It even uses technology to streamlineprocesses that impact customer loyalty, service delivery and qualitmanagement.Today, businesses are facing an aggressive competition and they have tomake Efforts to survive in a competitive and uncertain market place. Peoplehave realized that managing Customer relationships is a very importantfactor for their success. Customer relationship management (CRM) is astrategy that can help them to build long-lasting relationships with theircustomers and increase their profits through the right management systemand the application of customer-focused strategies.
“Customer is the most important person for a business. He is not aninterruption to our work but the purpose of it. He is not an outsider; he isa part of it. We are not doing him a favour; he is doing us a favour bygiving us an opportunity to serve him.” 
By Mahatma Gandhi)It has grown mainstream and is being implemented in a wide range of companies and organizations such as manufacturing, financial services,transportation and distribution, medical services and products, consumerpackage goods and others. This explosive growth of CRM reflects theintersection of genuine market need and enabling technology. And, in thisgrowth period, the impetus for CRM is shifting from an emphasis onefficiency, i.e., doing more things faster with less cost, to effectiveness, i.e.,doing things better for increased revenue with a high "return onrelationships (ROR)". According to Chaudhuri and Shainesh (2001)-A CRM programmer requiresa clear understanding and commitment to the company's customers, vigilant adherence to detailed goals, commitment from both executives andline workers, and a constant awareness of the customer's view point.Customer relationship management is about more than simply managingcustomers and monitoring their behavior or attitude. CRM has thepotential to change a customer’s relations with a company and increaserevenues in the bargain. Furthermore it helps to know the customers well-enough to decide whom to choose and whom to lose.The objective of CRM (customer relationship management) is to recognizeand treat each and every customer as an individual. It is very essential for
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CRM in Hotel Industry
any business to know that how to differentiate customer treatmentaccording to an individual preferences. For differentiate customertreatment, the companies use personalized service and customizedproducts which make some customers feel special and others simply appreciate good behavior. It humanizes their purchase or service request orcomplaint. Personalization and customization doesn’t mean maintainingonly customer loyalty, but also driving purchases higher.Getting closer to customers and effectively responding to their needs is agreat way to boost their loyalty and encourage deeper business relationship.The task of getting and retaining customers requires even greater skill andeffort. The business needs to ensure that the service works as the customeractually wants it to, and the customers want to do business in 'their' way,not to be forced to do it in the enterprise's way. Most companies considerthem customer-focused and believe that in being so they are servicing thecustomer. But eventually, being customer focused means to have aconsistent, dependable and convenient interaction with customers inevery encounter. CRM technologies focus on managing all interactions thatan organization has with its customers, in order to leverage the data in a variety of business applications. Where a profitable relationship already exists, CRM can especially boostsuperior service at a lower cost. In addition to this it helps to servecustomer's unspoken needs.Generally speaking, the five needs of customers are:-(a) Service(b) Price(c) Quality (d) Action and(e) Appreciation. (By Raghunath & Shields 2001) Apart from these, there would be needs, which even the customers have nottaken care of, but which, if would have satisfied will lead to highercustomer loyalty. CRM, if practiced properly might lead to cross-sellingand up selling of products and services. Cross-selling means selling theright product to the right customer. One other relevant and importantattribute of CRM is its ability to help in the ego-mending of customers.This, if practiced efficiently, soothes the customer's negative emotions hecould have, due to the non-attainment of his expectations regarding theproduct or the service.The adoption of CRM in the hospitality industry has been impeded by anumber of factors. These include the persistently fragmented nature of theindustry, the disparate, proprietary and relatively immature nature of ITsystems, and the additional complexity associated with managing aperishable product that is sold through a variety of distribution channels.
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CRM in Hotel Industry
However, more rapid progress is being made due in part to the continuedconsolidation between hospitality companies and hospitality IT vendors.
1.2 Research Questions
a)How will CRM help to retain customers in hotel industry? b)What are the new marketing approaches in hotel industry?c)How CRM can be effectively administered?
1.3 Scope of the Study 
This study will provide an insight into the
hotel industry 
and the steps being taken by them to improve their relationship with theirguests/customers.From the study, one can infer the present scenario of the practices andprograms being followed by the leading players in this sector and the steps being followed by them to enhance customer retention, customersatisfaction and in turn, leading to enhanced profits and brand image in theminds of the customers.
1.4 Objectives of the Study 
The
 primary objective
would be:
To study “Customer Relationship Management in the HotelIndustry”.The
other objectives
would be:
To study the programs and practices of CRM employed by theleading hotels in India.
To study the measures to build a better relationship between thecustomer/guest and the hospitality unit.
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It's a fantastic research

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