Crm

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Crm

  1. 1. Customer Relationship Management<br />Presented by<br />Mr. Vivek Kumar Varshney<br />Mr Deepak Sahu<br />MrBinit Kumar Patel<br />
  2. 2. Definition…… <br /> “Management of relationship with customers”<br />CRM refers to the methodologies and tools that help businesses manage customer relationships in an organized way.<br />
  3. 3. Definitions contd…………<br />CRM is “the development and maintenance of mutually beneficiallong-term relationships with strategically significant customers”<br />(Buttle, 2000)<br />CRM is “an IT enhanced value process, which identifies, develops, integrates and focuses the various competencies of the firm to the ‘voice’ of the customer in order to deliver long-term superior customer value, at a profit to well identified existing and potential customers”. (Plakoyiannaki and Tzokas, 2001)<br />
  4. 4. CRM..... <br />Term applied to processes implemented by a company to handle its contact with its customers <br />CRM is a software-based approach to handling customer relationships <br />Store information on current and prospective customers<br />
  5. 5. Stages in the development of customer relationship<br />The pre-relation stage <br /> the event that triggers a buyer to seek a new business partner<br />The early stage<br /> experience is accumulated between the buyer and seller although a great degree of uncertainties and distance exists.<br />The development stage<br /> increased level of transactions lead to a higher degree of commitment and the distance is reduced to a social exchange. <br />the long term stage<br /> characterized by the companies’ mutual importance to each other.<br />The final stage<br /> the interactions between the company and customer becomes institutionalized.<br />
  6. 6. Evans and Luskins model of CRM <br />Relationship marketing inputs<br /><ul><li>Understanding customer expectations
  7. 7. Building service partnerships
  8. 8. Empowering employees
  9. 9. Total quality management</li></ul>Relationship marketing outcomes<br /><ul><li>Customer Satisfaction
  10. 10. Customer loyalty
  11. 11. Quality products
  12. 12. Increased profitability</li></ul>Assessment state<br /><ul><li>Customer feedback
  13. 13. Integration</li></li></ul><li>Functions of CRM<br />Value Creation Process<br />Technology delivery process<br /><ul><li>R&D
  14. 14. Technology integration
  15. 15. Efficiency, effectiveness</li></ul> learning<br />Management <br />Decision<br />Process<br />Customer sensitivity<br /><ul><li>Diversity
  16. 16. Information
  17. 17. Differentiated </li></ul> offering<br />Value-based<br />Strategies<br /><ul><li>Pricing
  18. 18. Communication</li></ul>Product delivery process<br /><ul><li>Concept to launch
  19. 19. Manufacturing process</li></ul>Customer delivery process<br /><ul><li>Supply chain
  20. 20. Distribution
  21. 21. Infomediation (distribution</li></ul> of information)<br />
  22. 22. Characterization of CRM maturity<br />
  23. 23. CRM cube<br />
  24. 24. ‘customer’- the center of the value chain<br />
  25. 25. Relationship between CRM and IT<br />
  26. 26. CRM Cycle<br />
  27. 27. CRM tactics and resourceallocation over the product lifecycle<br />
  28. 28. Benefits of CRM<br /><ul><li>Provide better customer service
  29. 29. Make call centers more efficient
  30. 30. Cross-sell products more effectively
  31. 31. Have sales staff close deals faster
  32. 32. Simplify marketing and sales processes
  33. 33. Discover new customers
  34. 34. Increase revenues </li></li></ul><li>Exhibits <br />A survey of more than 1,600 business and IT professionals conducted by The Data Warehousing Institute found that close to 50% had CRM project budgets of less than $500,000. <br />Clearly, CRM doesn't have to be a budget-buster. <br />Forester estimated that CRM revenues will grow from $42.8 billion in 2002 to $73.8 billion in 2007, a compound annual growth rate of 11.5% and it has reached upto $148billion .<br />
  35. 35. Major CRM Players<br />

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