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Driven by rapidly changing business environments and increasingly demanding consumers, many organizations are searching for new ways to achieve and retain a competitive advantage via customer intimacy and CRM. This book presents a new strategic framework that has been tested successfully with various global companies. New management concepts such as Collaborative Forecasting and Replenishment, CRM, Category Management, and Mass Customization are integrated into one holistic approach. Experts from companies like McKinsey and Procter&Gamble, as well as authors from renowned academic institutions, offer valuable insights on how to redesign organizations for the future.
CUSTOMER RELATIONSHIP MANAGEMENTOPERATIONAL CRMANALYTICAL CRMCOLLABORATIVE CRMRELATIONSHIP MANAGEMENTTHE CRM MODELSELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT (E-CRM)CRM IMPLEMENTATIONAPPLICATIONS OF CRM IN HEALTH SECTORFINANCIAL SYSTEM OVERVIEWAPPLICATIONS OF CRM IN THE MANUFACTURING SECTORAPPLICATION OF CRM IN RETAIL SECTORAPPLICATION OF CRM INTELECOM SECTORFUTURE OF CRMConclusionReferenceIndex
Customer Relationship Management is of a great use to the multi-level business arrangement. Its use can be dated back to the era of pre-industrialisation when its need was found for keeping track about the needs and demands of the customer. Many advancements were made since the time but the term ‘CRM’ was finally identified in 2005. Till date the CRM continuously gets updated with the recent technological advancements made in the software department. This makes the CRM to be endowed with best of the features till date. The CRM even keeps a database consisting of information about its customers personal details as well as the details about the purchasing interests of the customer such as like and dislikes for the item, purchasing history etc. Apart from this, the company also tries to maintain communication through social media platforms to keep themselves updated with the experiences of the customers about the use of their product. It is also essential for maintaining relationship with their customers (new or old) which reflects upon the organisation’s final output value. There is a wide application of Customer Relationship Management in certain fields and its scope remains wide.
Scientific Essay from the year 2010 in the subject Business economics - Customer Relationship Management, CRM, grade: 1,0, University of St Andrews, course: Business Marketing, language: English, abstract: The business-to-business (B2B) landscape is rapidly changing due to a variety of trends: The evolving end-customer expectations drive companies to be more responsive and provide a better value-proposition to their customers. This has translated into business markets, demanding greater responsiveness, reliability, and quality consciousness from supplying firms (Sheth & Shainesh, 2001: 274). Market consolidation as a result of a wave of mergers and acquisitions in many industries during the past two decades forces many companies to focus on the few large customers that survived (Narayandas, 2003: 1). Globalization, hyper-competition, the rapid rise of information technology, and the commoditization of many products through e-commerce have resulted in better visibility of demand and supply and lower switching costs. Logistics and communication advances have made buying from across the globe as easy as buying locally (Schäfer, 2007: 10). All this has lead to an erosion of customer loyalty and the ability to seek lower priced, better quality options from a wide variety of suppliers instantaneously. Therefore, building customer loyalty through relationship management is not a choice anymore for most businesses; it is crucial for the achievement of sustainable competitive advantage (Sheth & Shainesh, 2001). This report to the head of marketing of an imaginary business-to-business supplier aims to discuss the implementation of a customer relationship management (CRM) system. More specifically, the author will define the relevant terms, outline the suggested CRM techniques, and highlight their potential benefits and limitations. At the end, some final conclusions and recommendations will be presented.
Essay from the year 2011 in the subject Business economics - Customer Relationship Management, CRM, grade: 80, De Montfort University Leicester (-), course: E Business, language: English, abstract: Introduction With the dynamic nature of the global business environment and increasing competitive pressure, organizations are shifting from product-focused strategy to consumer-focused strategy. With the advent of internet, consumers are becoming more knowledgeable and more aware of the various opportunities available to them. The internet has provided easy access to new products and access to more options leading to an expanded competitive advantage for the consumers, greatly enhancing their choices, value and pricing flexibilities in many cases. Customer retention and loyalty has become a nightmare to many organizations, and organizations are now involved in what can be termed “a relationship competition” between organizations and their clients, as customers can switch from one product to the other at the click of the computer mouse. In order to counter this phenomenon organizations are investing heavily in technologies enabling a customer-focused relationship marketing strategy. With tremendous growth in e-business and web-based services, organizations are therefore shifting to an internet based customer relationship management, hence the birth of electronic customer relationship management (E-CRM). In this report a comprehensive analysis of how IBM uses electronic customer relationship management (ECRM) to gain insight and understanding of their customer’s needs and want is carried out and also how to improve customer’s relationship by satisfying those needs. [...]
This work offers a state-of-the art survey of information systems research on electronic customer relationship management (eCRM). It provides important new frameworks derived from current cases and applications in this emerging field. Each chapter takes a collaborative approach to eCRM that goes beyond the analytical and operational perspectives most often taken by researchers in the field. Chapters also stress integration with other enterprise information systems. The book is organized in four parts: Part I presents an overview of the role of CRM and eCRM in marketing and supply chain management; Part II focuses on the organizational success factors behind eCRM implementation; Part III presents cases of eCRM performance enhancement; and Part IV addresses eCRM issues in business-to-consumer commerce.
Inhaltsangabe:Introduction: In order to stay ahead of the competition companies are more and more forced to turn their attention to their real assets: their customers. Both, the value of the individual customer and the development of personalized relationships with them have made customer relationship management as one of the emerging topics in the last years. Faced with the increased knowledge of the customers about existing product- and service offerings on the market, companies are more than ever required to develop specific customer knowledge in order to adapt their products and services according to the requirements of the customer. Customer relationship management is no longer something that only huge leading enterprises use in order to gain a competitive advantage. In the increased competitive landscape, it is now a necessity for survival even for small and medium-sized enterprises. Customer relationship management is a complex and difficult way of doing business. CRM means more than just installing a software or automating customer touch points. It is about the reinvention of a customer-oriented organization. According to the special requirements of small and medium-sized businesses, the degree of difficulty of the CRM approach even increased. The following Bachelor s Thesis reveals the overall importance of a customer relationship management system especially for small and medium-sized enterprises. In addition to the topic of CRM, the increasing importance and possibilities of open source software is revealed. The main research question consists of the idea if open source customer relationship management systems are able to fulfill the requirements of a CRM software. In order to be able to answer this question, the following Bachelor s Thesis made use of the literature available on the topics CRM, special requirements of small and medium-sized enterprises, and the topic of open source software. By revealing what a CRM have to fulfill in order to be classified as customer relationship management system according to the findings in the literature, various requirements are identified. In the next step, the three most popular open source CRM software systems Sugar CRM, vTiger, and OpenCRX are scrutinized under the criteria if they are able to fulfill the requirements defined in the previous steps. The conclusion discusses the previous findings and outlines the chances and limits of open source customer relationship management [...]