Looking at how and where CRM can help an organization

Type :

Term papers

Pages :

26 pages

Format :

.doc

Published date :

04/02/2009

Category :

Business & market

Sub category :

Business strategy

Oboulo.com selection criteria

$ 19.95 Add to cart

Summary :

Introduction
Understanding and knowing the customers
Five new approaches to customer value
Customer relationship management (CRM)
1. How it works?
2. CRM's evolution
Key principles of CRM
Benefits for organization
Status of CRM
1. Introduction
2. A peep into the past
3. The present
4. The future
5. Future holds of CRM
Evolution of e-CRM
1. The six E's of e-CRM
E-CRM Vs CRM
The new face of marketing
Integration of IT and management for implementing successful CRM
Major areas of CRM
Implementation of CRM
Information platform for CRM
CRM interaction cycle
Looking beyond: The internet era model
Myths of CRM- The 4 deadly sins
CRM in banking sector
Conclusion
Recommendations
Bibliography

Abstract

crm is an integrated effort to identify, maintain, and build up a network with individual consumers and to continuously strengthen the network for mutual benefit of both sides, through interactive, individualized and value-added contacts over a period of time. The core theme of all crm is its focus on co-operative and collaborative relationships between the firm and its customers, and/or other marketing actors.

crm is based on the premise that, by having a better understanding of the customers' needs and desires we can keep them longer and sell more to them.

An important facet of crm is "customer selectivity". Several research studies have shown not all customers are equally profitable. The company must therefore be selective and tailor its program and marketing efforts by segmenting and selecting appropriate customers for individual marketing programs. In some cases, it could even lead to "outsourcing of some customers" so that a company better utilize its resources on those customers it can serve better and create mutual value. however, the objective of a company is not to really prune its customer base but to identify appropriate customer programs and methods that would be profitable and create value for the firm and the customer.

Banking is changing we are seeing technology being introduced in the sector. A greater amount of dis-intermediation is taking place in the higher segment of the corporate sector and there is a need for providing better quality customer service. The market is becoming more & more buyer dominated. In Banking, the final result as to who will actually be able to woo customers will depend on their ability to react and respond to the customer requirement. The customer is going to be the real decider of fate of Banks.