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Crm Full Paper

Crm Full Paper

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Published by Mohammad RIzwan

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Published by: Mohammad RIzwan on Sep 21, 2010
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11/02/2012

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Customer Relationship Management (CRM)National Seminar Sponsored byAndhra Pradesh State Council of Higher Education(APSCHE) on 8-9, Oct., 2010
 
TITLE : Emerging Concepts of Customer Relationship Management
 
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Customer relationship management
 
is a broadly recognized, widely-implemented strategy for managingand nurturing a company’s interactions with customers and sales prospects. It involves using technologyto organize, automate, and synchronize business processes-principally sales related activities, but alsothose for marketing, customer services, and technical support The overall goals are to find, attract, andwin new customers, nurture and retain those the company already has, entice former customers back intothe fold, and reduce the costs of marketing and customer service.
Emergence of Customer Relationship management
In today’s business world, with the increase in the numbers of players, market is becomingmore complex. It compel the businessman to give extra focus on customers and hence concept of customer relationship management evolved. The strategy which helps in developing building effective business relationships with the customers is termed as customer relationship management. The principalobjective of the customer relationship management strategy is on solving customer grievances.In order to achieve success and sustain the leadership in the market, an organization should have goodcustomer base. One who wins the customer trust is a frontrunner. Customer relationship management is a process to organize the business activities around customer. Organization started to realize that customersare company’s assets and hence need to manage effectively so as to derive continues and sustainable profit over their lifetime.
 
Customer relation management not only helps to retain customers but also keeps the avenues open for introduction of new brands. By keeping customers happy, organization are assured of the customer’sloyalty and by maintaining overall relationship, organization can maximize their benefits of their  business. The organization can enjoy the benefit of increase sales revenue, increase in number of customers, customer satisfaction margin and reduction in marketing and administrative cost.However it is a long term approach. The success of customer relationship management dependsupon the competency to deliver customer benefits and proper understanding of consumer behavior.To know who the best customers are, organization need to keep constant track of customers.That’s how an organization can hold on to them. But due to fierce competition in the market, their loyaltycannot be assured. Hence, customers have to be rewarded for their loyalty. Companies like banks, petrol bunk, airlines do it by offering credit cards, smart cards etc.
My study of customer privacy as a issue impacting CRM
As my study on customer privacy as a one of the potentially devastating consequence of CRM, I wish tosolve the problems associated with it.There are many customer privacy violations in an commercial organizations and many customers feeltheir confidential data has been shared with someone or third party or stolen by someone. It automaticallyeffects the relationship between the company and the customer and organization lastly looses and fail toretain the customer. As customer is always God and wish to do things with his intention, do changes hismindset with his interest, tastes and preference and shifts to other company if he feel the organization it is being working or associated with is not an privacy maintaining one.
Privacy Issue in Service Sectors
In service organizations like a website or online shopping websites like www.homeshop18.com (say)ask customer’s details and personal information in several ways such as your first and last name, mailingaddress (including zip code), e-mail address, employer, job title and department, telephone number andother personal information. When ordering products or services on the Site, you may be asked to providea credit card number. Depending upon the activity, some of the information that it ask you to provide is
 
identified as mandatory and some as voluntary. If you do not provide the mandatory data with respect to a particular activity, you will not be able to engage in that activity.Some other websites or third parties authorized by that website may also collect certain technical androuting information about your computer to facilitate your use of the Site and its services. For example,they may log environmental variables, such as browser type, operating system, CPU speed, and theInternet Protocol ("IP") address of your computer. They use these environmental variables to facilitateand track your use of the Site and its services. The website will also uses such environmental variables tomeasure traffic patterns on the Site. Without expressly informing you in each particular circumstance,they do not match such information with any of your personal information.
How Customer’s Personal Information is Used In Service sector
In service sectors like a website, your personal information for several purposes including:
To ensure their service is relevant to your needs.
To deliver services, such as newsletters, events, training or software, that you request or purchasein case of visiting websites.
To help themselves creating and publish content most relevant to you.
To alert you to product upgrades, special offers, updated information and other new services fromthe company of the website.
To allow you access to limited-entry areas of their Site as appropriate.
Some Examples of Customer Privacy Issues :Example # 1
People’s bank in New England, Connecticut state have revealed few years ago that that a storage tapeholding confidential data of 90,000 people’s customers lost while being transported to a credit reporting bureau.The tape contained customers' and bank employees' personal information -- including names, addresses,Social Security and checking account numbers -- belonging to those who have a People's Bank personal

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