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Customer Relationship Manmagement

Customer Relationship Manmagement

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Published by muneerpp

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Published by: muneerpp on Aug 13, 2009
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03/04/2013

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CUSTOMER RELATIONSHIP MANMAGEMENTUNIT - 1
1.
 
INTRODUCTION2.
 
CUSTOMER LOYALTY3.
 
SUCCESS FACTORS4.
 
THREE LEVELS OF SERVICE5.
 
SERVICE – LEVEL AGREEMENTS
CUSTOMER RELATIONSHIP MANMAGEMENTLEARNING ASPECTSEvaluation of CRMSchools of thought in CRMBenefits of CRMCustomer loyaltySuccess factorsService levelsService level agreements
 
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1. INTRODUCTIONEVALUATION OF CUSTOMER RELATIONSHIP MANAGEMENT
Customer Relationship Management (CRM) is to create a competitive advantage by beingthe best at understanding, communicating, delivering, and developing existing customerrelationships, in addition to creating and keeping new customers. It has emerged as one of the largest management buzzword. Popularised by the business press and marketed by theaggressive CRM vendors as a panacea for all the ills facing the firms and managers, itmeans different things to different people. CRM, for some, means one to one marketingwhile for others a call centre. Some call database marketing as CRM. There are manyothers who refer to technology solutions as CRM. If so, what is CRM?Merchants and traders have been practicing customer relationship for centuries. Theirbusiness was built on trust. They could customize the products and all aspects of deliveryand payment to suit the requirements of their customers. They paid personal attention totheir customers, knew details regarding their customers tastes and preferences, and had apersonal rapport with most of them. In many cases, the interaction transcended thecommercial transaction and involved social interactions. Even today, this kind of arelationship exists between customers and retailers, craftsmen, artisans – essentially inmarkets that are traditional, small and classified as pre-industries markets.These relationship oriented practices have changed due to industrial revolution.. Businessesadopted mass production, mass communication and mass distribution to achieve economicsof scale. Manufactures started focusing on manufacturing and efficient operations to cutcosts. Intermediaries like distributors, wholesalers and retailers took on the responsibilitiesof warehousing, transportation, distribution and sale to final customers. This resulted in
 
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greater efficiencies and lower costs to manufacturers but brought in many layers betweenthem and the customers. The resulting gap reduced direct contacts and had a negativeimpact on their relationships.The post-industrial era saw the re-emergence of relationship practices. Marketingacademicians.(a)
 
Rapid advances in technology,(b)
 
Intensive competition in most markets,HighRelationshipOrientationLowPre-Industrial Era Industrial Era Information era(Relationship (Product Centric) (RelationshipCentric-Small Scale) Centric-Large Scale)
Figure 1.1
The Evolution of Relationship Orientation(c)
 
Growing importance of the service sector, and(d)
 
Adoption of total quality management programs
Technological Advancement

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