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Research Paper (postgraduate) from the year 2019 in the subject Business economics - Customer Relationship Management, CRM, grade: 1.5, Kwame Nkrumah University of Science and Technology, language: English, abstract: Customer Relationship Management (CRM) practices are business strategies designed to reduce costs and increase profitability by solidifying customer loyalty. With intense competition among insurance companies in Ghana, this study sought to assess Customer Relationship Management practices and Customer Retention in NSIA Insurance. The study was conducted to identify critical factors necessary for customer retention in carrying out customer relationship management practices in the selected insurance company and to develop effective customer relationship management practices to manage customer retention for sustainability within the insurance industry using NSIA Insurance as a case study. Well structured questionnaires and face-to-face interview were the methods adopted for the investigation of the study. A sample size of 40 respondents was considered, they were made up of customers and the staff who are fully involved in customer relationship management of the insurance company. Data collected from the completed questionnaires and the interviews were grouped into frequency tables and expressed in percentages. The researcher relied on the SPSS in interpreting the collected data. The study shows that even though NSIA insurance has policies on customer relationship management practices, these policies are not carried out fully to accomplish the ultimate goal of customer retention. The study recommends that for the insurance company to command an adequate number of loyal customers, NSIA Insurance should consistently improve on its quality of service to address the preference of the customers and consider the five service quality constructs of reliability, assurance, tangibility, empathy and responsiveness.
Statistical Methods in Customer Relationship Management focuses on the quantitative and modeling aspects of customer management strategies that lead to future firm profitability, with emphasis on developing an understanding of Customer Relationship Management (CRM) models as the guiding concept for profitable customer management. To understand and explore the functioning of CRM models, this book traces the management strategies throughout a customer’s tenure with a firm. Furthermore, the book explores in detail CRM models for customer acquisition, customer retention, customer acquisition and retention, customer churn, and customer win back. Statistical Methods in Customer Relationship Management: Provides an overview of a CRM system, introducing key concepts and metrics needed to understand and implement these models. Focuses on five CRM models: customer acquisition, customer retention, customer churn, and customer win back with supporting case studies. Explores each model in detail, from investigating the need for CRM models to looking at the future of the models. Presents models and concepts that span across the introductory, advanced, and specialist levels. Academics and practitioners involved in the area of CRM as well as instructors of applied statistics and quantitative marketing courses will benefit from this book.
This title presents an holistic view of CRM, arguing that its essence concerns basic business strategy - developing and maintaining long-term, mutually beneficial relationships with strategically significant customers - rather than the operational tools which achieve these aims.
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.
A managers, whether brand-new to their postions or well established in the corporate hirearchy, can use a little brushing-up now and then. As customer loyalty increasingly becomes a thing of the past, customer relationship management (CRM) has become one today's hottest topics. Customer relationships management: A strategic approach supplies easy-to-apply sloutions to common CRM problems, including how to maximize impact from CRM technology, which data warehousing techniques are most effective and how to create and manage both short-and long -term relationships.This book acquaints student focuses on the strategic side of customer relationship management.The text provides students with and understanding of customer relationship management and its applications in the business fields of marketing and sales.
Packed with case studies and real-world examples, "loyalty.com" reveals what the latest technology shifts mean to marketers in every field and outlines the fundamentals needed to build customer loyalty that will last.
Relationship marketing is considered by most major corporations to be one of the keys to unlocking the full power of e-commerce in the 21st century. In order that customers and consumers can be targeted effectively, a lasting relationship with each and every one is required. For this to be effectively achieved, there is a need for long-term strategy and technological investment. But where do businesses start? This practical guide is designed to set any organization on the path to planning CRM strategy and offers advice to ensure long-term success. This second edition is revised to take account of research since the first edition, and contains examples.
An ETHS graduate of 1962 provides a blueprint for customer relationship management in business and technical organizations.
The two-volume set CCIS 143 and CCIS 144 constitutes the refereed proceedings of the International Conference on Electronic Commerce, Web Application, and Communication, ECWAC 2011, held in Guangzhou, China, in April 2011. The 148 revised full papers presented in both volumes were carefully reviewed and selected from a large number of submissions. Providing a forum for engineers, scientists, researchers in electronic commerce, Web application, and communication fields, the conference will put special focus also on aspects such as e-business, e-learning, and e-security, intelligent information applications, database and system security, image and video signal processing, pattern recognition, information science, industrial automation, process control, user/machine systems, security, integrity, and protection, as well as mobile and multimedia communications.
This book balances the behavioral and database aspects of customer relationship management, providing students with a comprehensive introduction to an often overlooked, but important aspect of marketing strategy. Baran and Galka deliver a book that helps students understand how an enhanced customer relationship strategy can differentiate an organization in a highly competitive marketplace. This edition has several new features: Updates that take into account the latest research and changes in organizational dynamics, business-to-business relationships, social media, database management, and technology advances that impact CRM New material on big data and the use of mobile technology An overhaul of the social networking chapter, reflecting the true state of this dynamic aspect of customer relationship management today A broader discussion of the relationship between CRM and the marketing function, as well as its implications for the organization as a whole Cutting edge examples and images to keep readers engaged and interested A complete typology of marketing strategies to be used in the CRM strategy cycle: acquisition, retention, and win-back of customers With chapter summaries, key terms, questions, exercises, and cases, this book will truly appeal to upper-level students of customer relationship management. Online resources, including PowerPoint slides, an instructor’s manual, and test bank, provide instructors with everything they need for a comprehensive course in customer relationship management.