CRM

Ranjith P Ajaykumar
 Course Evaluation
Class Participation: 10%
Surprise test: 10%
Class test (announced): 20%
Group Assignment: 10%
Individual Assignment: 10%
End term exam: 40%
 Reference book

Customer Relationship Management, Concepts

and Application
– Alok Kumar, Chhabi Sinha and Rakesh Sharma
• What is a relationship?
• Why should companies build relationships
with their customers?
• Why is it difficult for companies to build
relationships with their customers?
 What is a relationship?
• It’s a inter personal bond of
– Trust
– Respect
– Empathy
– Loyalty
– Respect
• Each relationship is unique and 1:1
– Celebrities have 1:1 relationships with their fans
 Why should companies build
relationships?
• Costs less to retain a customer and to acquire a
new one
• Customer loyalty is very sticky and stands the
test of time
– Loyal customers become ambassadors for the
company
• Customer relationship is more important in
service industry as compared to product industry
• Product companies cannot afford not to listen to
customers
– Lays flavor contest
Its difficult to build relationship with customers

• Customers are always skeptical about

intentions of companies
• Difficult for companies to build 1:1
relationships with a large group of customers
– Personalization is a challenge
• Difficult for service companies to guarantee
service quality
• Indian scenario
 Technology provides help
• Interactive voice response (IVR)
• Self service kiosks
• Support portals
• Customer information database
• Voice recognition
 CRM is
• About corporate strategy
• About retaining customers for life
• About acquiring new customers
• No longer an option