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CRM HR

CRM HR

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Published by Vinaykumar Singh

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Published by: Vinaykumar Singh on Jul 26, 2010
Copyright:Attribution Non-commercial

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07/30/2013

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Customer Relationship Management
Chapter #Chapter #
1
 NATURE AND SCOPE OF CRM NATURE AND SCOPE OF CRM
“ CUSTOMER IS THE KING ”“ CUSTOMER IS THE KING ”
--
 
TODAY’S SELLER TODAY’S SELLER 
Shruti Kamat TYBMS
1
 
Customer Relationship Management
1.1.NATURE AND SCOPE OF CRMNATURE AND SCOPE OF CRM
The Customer is King! This credo is more powerful, relevant and true today thanever before. In a truly customer driven economy, success depends on a company's abilityto be with the customer on a round the clock basis… satisfying all their product andservice specific needs. Simply stated, Customer Relationship Management (CRM) isabout finding, getting, and retaining customers.Customer Relationship Management is one of the hottest and most talked abouttopics in the industry today and for good reason. Industry analysts recently reported thatCRM expenditures will grow from $2.8 billion in 1999 to $11 billion by 2003.CRM is all about building long term business relationships with your customers.It is best described as the blending of internal business processes:
Sales, Marketing andCustomer support with technology
.CRM solutions empower businesses to moreefficiently and effectively manage the activities that affect their relationship with their customers. The ultimate goal of CRM is to meet and exceed customer expectations,create a positive customer experience and build customer loyalty.CRM changes all of this and represents a continuing evolution in managing frontoffice operations
. With CRM, traditional departmental applications for sales,marketing and customer service are consolidated into a single unified systemcapable of managing the entire customer life cycle.
This approach allows employeesthroughout an organization to have immediate access to a complete profile of importantcustomer information. Organizations who are implementing CRM solutions feelconfident that providing access to this level of information will assist their sales andsupport staff in better understanding the needs and buying patterns of their customers.CRM (customer relationship management) is an information industry term fomethodologies, software, and usually Internet capabilities that help an
managecustomer relationships in an organized way.
Shruti Kamat TYBMS
2
 
Customer Relationship Management
CRM is at the core of any customer-focused business strategy and includes the people, processes, and technology questions associated with marketing, sales, andservice. In today's hyper-competitive world, organizations looking to implementsuccessful CRM strategies need to focus on a common view of the customer usingintegrated information systems and contact center implementations that allow thecustomer to communicate via any desired communication channel.What exactly is the definition of Customer Relationship Management? Ask adozen professionals, get a dozen different definitions. Here's a general overview:
CRM is used to learn more about your key customers needs in order to develop astronger relationship with them.
Customer Relationship Management can be defined as a companies activitiesrelated to increasing the customer base by acquiring new customers and meetingthe needs of the existing customers. CRM is about building partnerships with your customers. It uses internal business processes from Sales, Customer Service andMarketing.
The philosophy of CRM is the recognition that your long-term relationships withyour customers can be one of the most important assets of an organization, providing competitive advantage and improved profitability
The most important part of CRM is the "
customer-focus
".CRM uses technology, strategic planning and personal marketing techniques to build a relationship that increases profit margins and productivity. It uses a businessstrategy that puts the customer at the core of a companies processes and practices. Itrequires this customer focused business philosophy to support effective sales, marketing,customer service and order fulfillment.
Shruti Kamat TYBMS
3

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