REPORT ON

CRM (Customer relation management)

Submitted to,

Prof. DAVINDER SURI

INTRODUCTION 
The consumer durable white goods industry is operating in a highly
competitive, complex and rapidly changing business environment. Business
leaders of consumer durable white goods organizations know their importance
of having ready to access timely, accurate, consistent information and data for
the purpose of establishing, nurturing and managing customer relationships
across divisions.

CONCEPTS OF CRM
Customer Relationship Management (CRM) describes the technology
and methods used by organizations to document, analyze and build strategies
aimed at improving the relationship between the firm and its customer.CRM is
an essential part of modern business management that focuses on customer
retention through increased customer satisfaction and enhanced loyalty.
Modern companies realize that it is far more expensive to find new customers
than keep existing ones and so put sufficient investment into looking after and
growing existing accounts.CRM is about introducing the right product to the
right customer at the right time through the right channel to satisfy the
customer’s evolving demands. Ideally, it should follow the development of
each individual customer and develop integrated multi-segment, multi-stage
and multi-channel CRM decisions in order to maximize the total customer life
time profit. However, most existing CRM practice and academic research
focuses on methods to select the most profitable customer for a scheduled
CRM intervention. This campaign-centric approach deviates from the goal of
customer-centric approach of CRM.
PROCESS OF CRM
The CRM process is the most influential customer oriented strategy of the
decade. Despite its humble origins it has evolved into a relatively complex strategy.
The essentials of a CRM program include focus, commitment to CRM goals and
above all a desire to be customer focused. Here's how the CRM process actually
works in an organization is shown in the figure

THE CRM PROCESS

Establishing CRM
goals
Assembling customer
information
Designing the
model
Selecting the CRM
solution
Establishing authority and
responsibility
Communication with customer through direct mail, electronic mail
etc
Customer
surveys
Customer satisfaction
program
Collection of customer information

Provision of customer information to

employees
Usage of customer information in the business activities

Documenting a new
process
IMPORTANCE OF TECHNOLOGY IN CRM

Over the last decades, there has been a remarkable change in the consumer behavioral
patterns in selecting the goods and purchase behavior. Inthe development of new
technology, the global world products are available at ease. Now a day’s purchase
behavior becomes more on making consumer durable white goods purchase by
telephone or over the internet.The CRM concept and technology is more than just
identifying who our customer are, providing them with quality service and analyzing
their preferences. The true value of CRM is to transform strategy, operational
processes and business functions in order to increase customer loyalty and
profitability, which ultimately leads to customer retention management.

CRM CLASSIFICATION
Operational CRM systems improve the efficiency of CRM business
processes and comprise solutions for sales force automation, marketing
automation and call center/customer interaction center management.

Analytical CRM systems manage and evaluate knowledge on

customers for a better understanding of each customer and his or her behavior.
Data warehousing and data mining solutions are typical analytical CRM
systems.

Collaborative CRM systems manage and synchronize customer interaction points

and communication channels (For example telephone, electronic mail and web sites)