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    CRM - PPT Unit 1

    Uploaded by

    RICKY KALITA
    This document discusses customer relationship management (CRM). It defines CRM as strategies used by organizations to improve business relationships with customers. CRM helps companies stay connected to customers, streamline processes, and improve profitability. The document outlines prerequisites for effective CRM implementation, the significance of CRM, strategies for building customer relationships, relationship-based pricing schemes, developing total care programs, and reasons for losing customers.

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    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    CRM - PPT Unit 1

    Uploaded by

    RICKY KALITA
    218 views9 pages
    This document discusses customer relationship management (CRM). It defines CRM as strategies used by organizations to improve business relationships with customers. CRM helps companies stay connected to customers, streamline processes, and improve profitability. The document outlines prerequisites for effective CRM implementation, the significance of CRM, strategies for building customer relationships, relationship-based pricing schemes, developing total care programs, and reasons for losing customers.

    Original Description:

    CRM BCOM

    Original Title

    CRM- PPT Unit 1

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    This document discusses customer relationship management (CRM). It defines CRM as strategies used by organizations to improve business relationships with customers. CRM helps companies stay connected to customers, streamline processes, and improve profitability. The document outlines prerequisites for effective CRM implementation, the significance of CRM, strategies for building customer relationships, relationship-based pricing schemes, developing total care programs, and reasons for losing customers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    218 views9 pages

    CRM - PPT Unit 1

    Uploaded by

    RICKY KALITA
    This document discusses customer relationship management (CRM). It defines CRM as strategies used by organizations to improve business relationships with customers. CRM helps companies stay connected to customers, streamline processes, and improve profitability. The document outlines prerequisites for effective CRM implementation, the significance of CRM, strategies for building customer relationships, relationship-based pricing schemes, developing total care programs, and reasons for losing customers.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 9

    UNIT -1

    CUSTOMER
    RELATIONSHIP
    MANAGEMENT
    Introduction / Meaning of CRM
     CRM stands for customer relationship management.
     CRM is a concept that refers to the strategies used by an
    organization to improve business relationships with
    customers. 
     It helps companies stay connected to customers,
    streamline processes, and improve profitability.
    Definition of CRM

    According to Edward D. John “CRM is the business strategies


    designed to optimize profitability, revenue, retention and customer
    satisfaction”

    According to Greenleaf and Winer “ CRM is a business strategy to


    select and manage customers to optimize long-term value”
    Prerequisites for Sound CRM Installation

    1. Create a customer strategy before implementing CRM

    2. Before CRM technology is installed, create a customer-focused organisation.

    3. Install the right technology

    4. Choose the right customers


    Significance of CRM
     Helps to convert buyers into profitable customers and build enduring relations with them.
     Acts as a radar on all developments on consumer front
     Enables sharper customer selection/ targeting
     Presents a single 360 degree view of the customer across products and channels
     Supports cross-selling and up-selling to existing customers
     Helps customization, personalisation and one to one marketing on mass scale
     Manages customer interaction and customer service
     Helps focus on profit and avoids misalignment between revenue and profit
     Gathers in-depth customer information, tracks customer behaviour and applies the knowledge
    to all marketing efforts
     Serves as a sustainable competitive advantage
    Strategies for building relationship

    1. One-to-one marketing
    2. Delivering high customer value
    3. Total customer satisfaction
    4. Better quality products and services
    5. Attracting and Retaining Customers
    6. Building Loyalty
    7. Personalizing Marketing
    8. Win Backs
    Relationship based pricing schemes

    1. Frequency Programmes Based Pricing


    2. Club Membership Programmes Based Pricing
    3. Institutional Discounts
    4. Value Pricing
    5. One-to-One Pricing
    Developing Total Care Programmes

    1. Constant communication
    2. Concentration on overall aspects of consumption
    3. Maintain high standards
    4. Display organization goodwill
    5. Innovation
    6. Relationship transparency
    Reasons for loosing customers

    1. Pricerelated reasons
    2. Product related reasons
    3. Services related reasons
    4. Benefit related reasons
    5. Competitor related reasons
    6. Personal reasons

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