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Assignment 1: Customer Relationship Marketing

Topic 1: Is your manager ready for one-to-one marketing Topic 2: Do you want to keep your customer forever Section A

Presented By: 33- Ritika Rochlani 34- Rohin Verma 35- Sajal Singhal 36- Sakshi Tondon

37- Majid Khan 38- Shivangi Raj Singh 39- Sonali Agrawal 40- Sudeep Karmakar

ONE-TO-ONE Marketing (Article: Is your manager ready for one to one marketing)
This concept revolves around few important questions
How well can your company identify its end customers? Can your company differentiate its customer based on their value to you and their needs from you? How well do you interact with your customers? How well does your company customize its products?

Why ONE to ONE?

Increased Cross Selling Reduced Customer Attrition Higher level of customer satisfaction Reduced Transactional Cost and faster Cycle Time

Steps for putting ONE to ONE Marketing

Identify your customers
Locate and contact customers Add to database as much as possible Gathering details like name, address, preferences, habits etc. Recognize customer at every contact point.

Differentiate on the basis of value and needs Using previous data find out the best customers(Top 5%) Isolate the bottom 20% Find high value customers and treat their complaints well. Look for last years large customer who have ordered less this year Rank customers into A,B and C categories.

Call the top customers and make sure they are happy Call your own company as customer and record the feedback Compare it with other companies Use incoming call from customers to sell the products Improve complaint handling Conversation should pick up from the last point

Company must adapt some aspects of its behavior to meet the customers need individually. It involves: Mass Customization, Tailoring certain aspects of the product. Treat the customer differently based on the learning of marketing, sales and any other department.

Launching a One to One Initiative

Assessing your situation
Assessing the gap where you are currently and where you want to be

Setting priorities
Considering the customer base assess what kind of channel you use to build one to one relationship. Ex: reminding readers about a new book from favorite author.

Foundation for the long term

Various issues should be tackled to sustain for long time EX: Website and call center to work together, different sales force for different division, whether to implement a particular strategy

One to One GAP Tool

This tool gives a good idea about the current position of the company in terms of relationship marketing It consist of several elements:
Process(Quality assurance, customer centric) Technology(Customer needs and employees) Knowledge Strategy (Knowledge about the customers) Partnerships Customer relationships Employee Management (Empowerment and Rewards) Competitive Strategy

Article 2:Do you want to keep your customers forever?

It talks about moving from mass production to mass customization with the use of IT and technology. Companies that aspires to give customers what they want must concentrate on MASS CUSTOMIZER and ONE TO ONE MARKETER. Both of these strategies bind consumer and producer to form a LEARNING RELATIONSHIP. Learning relationship model will enable companies to design services that differentiate their offerings.

Transactional Marketing
Variety of goods and services Targeting finer markets Advertising and promotion Mass Marketing and mass communication Moderate customer contact Low involvement product

Customer Relationship Marketing Mass customization One-to-one marketer Both of these strategies bind consumer and producer to form a LEARNING RELATIONSHIP Use of IT and technology Direct Marketing R-F-M model to identify right customers(recency, frequency and monetory)

Employ Marketing ees Automation E.g.

Sales force Automation e.g. Hallmark and American greetings E-commerce store Peapod- virtual supermarket

Service Automation E.g. Ritzcarlton Hotel chain Web/e-mail self service Anderson co.multimedia Training Warranty Renault and Bose

Custo mers

Corporate Website Burlington Inc.

Partner Partner Portals Lead s Ross controls with Management general motors Hero cycles,

Target Market for Learning relationships

Big ticket size Digitizable products and services On-line services Luxury and specialty goods Retailing services

Building Learning Relationship

Information strategy Interactive media, electronic kiosks, fax response e.g. internet, POS data etc Modules -components or processes that can be assembled in variety of ways e.g. Individual incs SMART

Production/delivery strategy

Organizational strategy

Product Managers to customer manager and capability manager

Value of learning relationship to company Customer life time value, cost of acquisition etc.

Assessment Strategy

Thank You