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A REPORT ON
CUSTOMER RELATIONSHIP MANAGEMENT
(CRM) MODEL
For the partial fulfillment of the requirements as stated in the syllabus for
Management Information System, Fifth Semester, B.B.A. T.U.
Report Submitted To:
Mr. Baikuntha Sigdel
IT Department
Nepal Commerce Campus
Report Submitted By:
Mr. Aashish Rai
January, 2014

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Acknowledgement
The preparation of this report lead us to many challenges as well as opportunities.
Customer Relationship Management, being a topic new itself in the Nepalese
Business practices, was a huge challenge when first heard of. But as we found our
way to dig into it, we were able to find the immense source of knowledge about how
the world is transforming each day. Thus, we would like to thank our faculty teacher
Mr. Baikuntha Sigdel for providing us this opportunity to learn things that we could
have not learned otherwise.
Thanking You,
Mr. Aashish Rai

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Contents:
1| Introduction ............................................................................ pg.1
2| Objective of the Study ........................................................... pg. 2
3| Limitations of the Study ......................................................... pg. 2
4| Significance of the Study ........................................................ pg. 3
5| Literature Review ................................................................... pg. 4
6| CRM Model ............................................................................ pg. 6
6.1 Creating a database ................................................... pg. 6
6.2 Analysis of data ........................................................ pg. 6
6.3 Customer Selection .................................................. pg. 8
6.4 Customer Targeting ................................................. pg. 9
6.5 Relationship/Retention Program .............................. pg. 10
6.6 Privacy Issues ...........................................................pg. 13
6.7 Metrics ..................................................................... pg. 13
7| Conclusion ............................................................................. pg. 15
List of Figures ............................................................................ pg. 16
Works Cited ............................................................................... pg. 17

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1| INTRODUCTION
Customer relationship management (CRM) has attracted the expanded attention of
practitioners and scholars. More and more companies are adopting customer-centric
strategies, programs, tools, and technology for efficient and effective customer
relationship management. They are realizing the need for in-depth and integrated
customer knowledge in order to build close cooperative and partnering relationships
with their customers. The emergence of new channels and technologies is
significantly altering how companies interface with their customers, a development
bringing about a greater degree of integration between marketing, sales, and customer
service functions in organizations. (Parvatiyar & Sheth)
CRM has the potential for achieving success and growth for organizations in the
nowadays environment of extensive competition and rapid technological
development. CRM enables organizations to know their customers better and to build
sustainable relationships with them. Knowing your customers better will enable you
to serve them better and keep them loyal forever. (Rababah, Mohd, & Ibrahim, 2011)
But it is more important to understand the key components of CRM, which are
people, technology, and process (Rababah, Mohd, & Ibrahim, 2011), and how they
are integrated into a wholesome management system delivering value to both
customers and the company for greater period of time. Indeed the digital platform is
the one, which has enabled the conception of CRM in the highly competitive business
world, but having the proper knowledge of how CRM should function and the
primary benefits and demerits of using CRM today is more important for managers
these days. Only when there is absolute clarity in the vision and mission of CRM in
our company, we can prepare a preliminary CRM plan, which will lead us in the
formation of successful CRM system. In this report we have tried illustrated a very
basic but important CRM model which will help any organizations to implement
CRM and use it for upgrading their quality of service and competitiveness in the
market.

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2| OBJECTIVE OF THE STUDY
The report will give idea regarding the CRM model which can guide students and
practitioners through the process of preparing a successful CRM plan. As CRM is a
newly devised managerial facet, a lots of work has to be done, however, this report
will be focused to sum up the existing mainstream and most viable way to prepare a
CRM plan which could be implemented for successful use of Customer Relationship
Management System (CRMS)
3| LIMITATIONS OF THE STUDY
The report is generated without the use of any primary data. The study is theoretical
in nature and contains the literary works of academics who are popular in the field of
CRM. The various papers have been cited. Verification of the cited materials are done
with mere logical intervention and without in depth research about its validity as per
the lack of time and resources for conducting such research. Thus, the mainstream and
mostly cited model of CRM is presented in the report.
4| SIGNIFICANCE OF THE STUDY
The course on MIS lacks the introductory approach to understand CRM. But in the
current business trend, CRM is not merely a tool to interact with customers but a
strategic tool to achieve competitiveness in the global-digital world. As the world is
growing digital day by day, the consumer's behavior is also changing rapidly due to
technological intervention in their day-to-day life. In such period, CRM is
continuously developing as one of the most beneficial business tool to satisfy
customers and provide them with the values that they require most.
However, as stated in the beginning, the MIS course lacks the basic foundation for
understanding and implementing CRM in real life. This report is focused to fulfill the
gap between what CRM is? and how it can be implemented? As such it is useful for
both academic as well as business purpose.

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5| LITERATURE REVIEW
CRM can be understood as a business philosophy, a business strategy, a business
process, or a technological tool (Rababah, Mohd, & Ibrahim, 2011). As a business
philosophy, "CRM is a relationship orientation, customer retention and superior
customer value created through process management" (Ryals & Knox, 2001). As a
business strategy "CRM is a customer-focused business strategy that aims to increase
customer satisfaction and customer loyalty by offering a more responsive and
customized services to each customer" (Croteau & LI, 2003). CRM as a business
process was defined as “a macro-level (i.e., highly aggregated) process that subsumes
numerous sub-processes, such as prospect identification and customer knowledge
creation” (Srivastava, Shervani, & Fahey, 1999). As a technology, "CRM is an
enabling technology for organizations to foster closer relationships with their
customers" (Hsieh, 2009).
Among the reasons for the little consensus around the meaning of CRM are; (i) the
different academic backgrounds of the researchers and scholars, (ii) CRM is still an
emergent perspective and needs more time and studies to reach the consensus, and
(iii) the multidisciplinary nature of CRM where it is a combination of management,
marketing, and IS disciplines (Rababah, Mohd, & Ibrahim, 2010). However, CRM is
defined from a balanced perspective which states that "CRM is the philosophy, policy
and coordinating strategy mediated by a set of information technologies, which
focuses on creating two way communications with customers so that firms have an
intimate knowledge of their needs, wants, and buying patterns" (Lun, Jinlin, &
Yingying, 2008). In addition, one of the most recent and holistic definitions of CRM
is suggests that “CRM is the building of a customer-oriented culture by which a
strategy is created for acquiring, enhancing the profitability of, and retaining
customers, that is enabled by an IT application; for achieving mutual benefits for both
the organization and the customers” (Rababah, Mohd, & Ibrahim, 2010).
Besides, the contemporary academics and business process experts have pointed
another important facet of CRM to be "Customer Selectivity". Apart from the
definition that suggest CRM as a bond between customers and the business, these

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academicians have found that not all customers are equally profitable for an
individual company (Storbacka, 2000). The company therefore must be selective in
tailoring its program and marketing efforts by segmenting and selecting appropriate
customers for individual marketing programs. The objective of a company is to
identify the programs and methods that would be the most profitable as it creates
value for the firm and the customers. Hence, our definition of CRM is that:
"CRM is a comprehensive strategy and process of acquiring, retaining, and
partnering with selective customers to create superior value for the company and the
customer. It involves the integration of marketing, sales, customer service, and the
supply-chain functions of the organization to achieve greater efficiencies and
effectiveness in delivering customer value" (Parvatiyar & Sheth).
The above definition will be the guiding insight on what customer relationship
management is about? Next comes the question - How to build such system which
can help acquiring, retaining, and partnering with the target customers for creating a
long term profitable relationship with them?, How to integrate all the marketing
related functions to satisfy and delight customers so great that they stick with us?
How to achieve the needed efficiency and effectiveness to deliver the greatest of
customer value at the most competitive cost? And, what role does Information System
(IS) play in all these hard work?

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6| CRM MODEL
A problem is that CRM means different things to different people. For some, CRM
means direct e-mails. For others, it is mass customization or developing products that
fit individual customers' needs. For IT consultants, CRM translates into complicated
technical jargon related to terms such as OLAP (on- line analytical processing) and
CICs (customer interaction centers). What do managers need to know about their
customers and how is that information used to develop a complete CRM perspective?
Exhibit 1 shows the basic CRM model, which contains a set of 7 basic components.
(Winer, 2001)
Exhibit 1 | CRM Model
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Creating a Database
Customer Selection
Analyzing Data
Customer Targeting
Relationship Marketing
Privacy Issues
Metrics

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6.1 Creating a Customer Database
Construction of a customer database or information file is the foundation for any
CRM activity. For Web-based businesses, constructing a database should be relatively
straightforward task, as the customer transaction and contact information is
accumulated as a natural part of the interaction with customers. For existing
companies that have not previously collected much customer information, the task
will involve seeking historical customer contact data from internal sources such as
accounting and customer service.
The database should contain following information on different time gaps:
a. Transactions data including purchase history, accompanying details of
transaction like price paid, mode of payment, frequency of purchase etc.;
b. Customer contacts and addresses;
c. Descriptions including customer review, complaints, purchase behaviors etc.;
d. Response to Marketing Stimuli revealing the effective mode of marketing for
the particular group of people who could be put into a same profile.
6.2 Analyzing the Data
Traditionally, customer databases have been analyzed with the intent to define
customer segments. A variety of multivariate statistical methods such as cluster and
discriminant analysis have been used to group together customers with similar
behavioral patterns and descriptive data which are then used to develop different
product offerings or direct marketing campaigns. Direct marketers have used such
techniques for many years. Their goals are to target the most profitable prospects for
catalogue mailings and to tailor the catalogues to different groups. More recently,
such segmentation approaches have been heavily criticized - taking a large number of
customers and forming groups or segments presumes a marketing effort towards an
"average" customer in the group. Given the range of marketing tools available that
can reach customers one at a time using tailored messages designed for small groups
of customers (what has been referred to as " 1 -to-1" marketing), there is less need to
consider the usual market segmentation schemes that contain large groups of
customers (e.g., women 18-24 years of age). Rather, there is increased attention being
paid to understanding each "row" of the database—that is understanding each

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customer and what he or she can deliver to the company in terms of profits and then,
depending on the nature of the product or service, addressing either customers
individually or in small clusters.
As a result, a new term, "lifetime customer value" (LCV), has been introduced into
the lexicon of marketers. The idea is that each row/customer of the database should be
analyzed in terms of current and future profitability to the firm. When a profit figure
can be assigned to each customer, the marketing manager can then decide which
customers to target. The past profit that a customer has produced for the firm is the
sum of the margins of all the products purchased over time less the cost of reaching
that customer. These costs include any that can be broken out at the individual
customer level, through such efforts as direct mail and sales calls. Note that mass
advertising would not be part of this formula. The cost could be assigned to individual
customers by computing a per customer dollar amount; but because it is the same for
each customer, it would not affect the rank ordering of the customers in terms of their
profitability. LCV is calculated by adding forecasts for the major parameters and
discounting back. This obviously requires assumptions about future purchasing,
product and marketing costs, as well as how long the customer can be expected to
remain with the firm. Generally, this will result in a number of scenarios for each
customer depending upon these assumptions.
The LCV formula can also be used to show where additional profits can be obtained
from customers. Increased profits can result from:
1. Increasing the number of products purchased, by cross-selling;
2. Increasing the price paid, by up-selling or charging higher prices;
3. Reducing product marginal costs;
4. Reducing customer acquisition costs.
Other kinds of data analyses besides LCV are appropriate for CRM purposes.
Marketers are interested in what products are often purchased together, often referred
to as market basket analysis. Complementary products can then be displayed on the
same physical page in a hard-copy catalogue or virtual page on a Web site.
As noted, a new kind of analysis born from the internet is the clickstream analysis. In
this kind of data analysis, patterns of mouse "clicks" are examined from cyberstore

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visits and purchases in order to better understand and predict customer behavior.'"
The goal is to increase "conversion" rates, the percentage of browsing customers to
actual buyers. For example, companies such as Blue Martini and Net Perceptions sell
software that enables Web-based stores to customize their sites in real time depending
upon the type of customer visiting—that is, their previous buying patterns, other sites
visited during the current session, and their search pattern in the cyberstore. (Winer,
2001)
6.3 Customer Selection
Given the construction and analysis of the customer information contained in the
database, the next step is to consider which customers to target with the firm's
marketing programs. The results from the analysis can be of various types. If
segmentation type analyses were performed on purchasing or related behavior, the
customers in the most desired segments (e.g., highest purchasing rates, greatest brand
loyally) would normally be selected first for retention programs. Other segments can
also be chosen depending upon additional factors. For example, for promotions or
other purchase-inducing tactical decisions, if the customers in the heaviest purchasing
segment already buy at a rate that implies further purchasing is unlikely, a second tier
with more potential would also be attractive. The descriptor variables for these
segments (e.g., age, industry type) provide information for deploying the marketing
tools. In addition, these variables can be matched with commercially available
databases of names to find additional customers matching the profiles of those chosen
from the database.
If individual customer-based profitability is also available through LCV or similar
analysis, it would seem to be a simple task to determine on which customers to focus.
The marketing manager can use a number of criteria such as simply choosing those
customers that are profitable (or projected to be) or imposing an ROI hurdle. The goal
is to use the customer profitability analysis to separate customers that will provide the
most long-term profits from those that are currently hurting profits. This allows the
manager to "fire" customers that are loo costly to serve relative to the revenues being
produced. While this may seem contrary to being customer-oriented, the basis of the
time-honored "marketing concept," in fact, there is nothing that says that marketing

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and profits are contradictions in terms. The 80/20 rule often holds in approximation:
most of a company's profits are derived from a small percentage of their customers.
For example, AT&T offers different levels of customer service depending upon a
customer's profitability in their long-distance telephone business. For highly
profitable customers, they offer "hot towel," personalized service. For less profitable
customers, you get automated, menu-driven service. The point is that without
understanding customer profitability, these kinds of decisions cannot be made.
On what basis should these customer selection decisions be made? One approach
would be to take the current profitability based on the above equation. An obvious
problem is that by not accounting for a customer's possible growth in purchasing, you
could be eliminating a potentially important customer. Customers with high LCV
could be chosen, as this does a better job incorporating potential purchases. However,
these customers are difficult to predict and you might include a large number of
unprofitable customers in the selected group. No matter what criterion is employed,
de-selected customers need to be chosen with care. Once driven away or ignored,
unhappy customers can spread negative word-of-mouth quickly, particularly in
today's Internet age.
6.4 Targeting the Customers
Mass marketing approaches such as television, radio, or print advertising are useful
for generating awareness and achieving other communication objectives, but they are
poorly-suited for CRM due to their impersonal nature. More conventional approaches
for targeting selected customers include a portfolio of direct marketing methods such
as telemarketing, direct mail, and, when the nature of the product is suitable, direct
sales. Writers such as Peppers and Rogers' have urged companies to begin to dialogue
with their customers through these targeted approaches rather than talking "at"
customers with mass media.
In particular, the new mantra, "l-to-l" marketing, has come to mean using the Internet
to facilitate individual relationship building with customers." An extremely popular
form of Internet-based direct marketing is the use of personalized e-mails. When this
form of direct marketing first appeared, customers considered it no different than

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"junk" mail that they receive at home and treated it as such with quick hits on the
delete button on the keyboard. However, sparked by Godin's call for ''permission"-
based programs whereby customers must first "opt-in" or agree to receive messages
from a company, direct e-mail has become a very popular and effective method for
targeting customers for CRM purposes.'" Companies such as Kana and Digital Impact
can send very sophisticated e-mails including video, audio, and web pages. These
days such personalized e-mails has become very popular tool for communicating with
customers at personal level.
6.5 Relationship/Retention Programs
While customer contacted through direct e-mail offerings is a useful component of
CRM, it is more of a technique for implementing CRM than a program itself.
Relationships are not built and sustained with direct e-mails themselves but rather
through the types of programs that are available for which e-mail may be a delivery
mechanism. The overall goal of relationship programs is to deliver a higher level of
customer satisfaction than competing firms deliver. There has been a large volume of
research in this area. From this research, managers today realize that customers match
realizations and expectations of product performance, and that it is critical for them to
deliver such performance at higher and higher levels as expectations increase due to
competition, marketing communications, and changing customer needs. In addition,
research has shown that there is a strong, positive relationship between customer
satisfaction and profits. Thus, managers must constantly measure satisfaction levels
and develop programs that help to deliver performance beyond targeted customer
expectations.
A comprehensive set of relationship programs is shown in Exhibit 2 and includes
customer service, frequency/loyalty programs, customization, rewards programs, and
community building.
a. Customer Service
Because customers have more choices today and the targeted customers are most
valuable to the company, customer service must receive a high priority within the
company. In a general sense, any contact or "touch points" that a customer has with a

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firm is a customer service encounter and has the potential either to gain repeat
business and help CRM or to have the opposite effect. Pro- grams designed to
enhance customer service are normally of two types. Reactive service is where the
customer has a problem (product failure, question about a bill, product return) and
contacts the company to solve it. Most companies today have established
infrastructures to deal with reactive service situations through 800 telephone numbers,
faxback systems, e-mail addresses, and a variety of other solutions. Proactive service
is a different matter: this is a situation where the manager has decided not to wait for
customers to contact the firm but to rather be aggressive in establishing a dialogue
with customers prior to complaining or other behavior sparking a reactive solution.
This is more a matter of good account management where the sales force or other
people dealing with specific customers are trained to reach out and anticipate
customers' needs.
Exhibit 2: Customer Retention/Relation Program
b. Frequency/Loyalty Programs
Loyalty programs (also called frequency programs) provide rewards to customers for
repeat purchasing. A recent McKinsey study (Cigliano, Georgiadis, Pleasance, &
Whalley, 2000) found that about half of the ten largest retailers in the U.S. in each of
Customer Service Customization
Frequency/Loyalty
Programs
Relationship!
Programs!
Community
Building

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the top seven sectors (category killers, department stores, drugstores, gasoline,
grocery, mass merchandisers, specialty apparel) have such programs with similar
findings in the U.K. The study also identified the three leading problems with these
programs: they are expensive, mistakes can be difficult to correct as customers see the
company as taking away benefits, and, perhaps most importantly, there are large
questions about whether they work to increase loyalty or average spending behavior.
A problem that can be added to this list is that due to the ubiquity of these programs,
it is increasingly difficult to gain competitive advantage. However, as the managers
for the airlines will attest, loyalty programs can be very successful by increasing
customer switching costs and building barriers to entry. In addition, in some
industries, such programs have become a competitive necessity.
c. Customization
The notion of mass customization goes beyond 1-to-l marketing as it implies the
creation of products and services for individual customers, not simply communicating
with them. Dell Computer popularized the concept with its build-to-order Web site.
Other companies such as Levi Strauss, Nike, and Mattel have developed processes
and systems for creating customized products according to customers' tastes.
Slywotzky refers to this process as a "choiceboard" where customer take a list of
product attributes and determines which they want. (Slywotsky, 2000) The idea is that
it has turned customers into product makers rather than simply product takers.
Shapiro and Varian argue that such customization is cheap and easy to do with
information goods. (Shapiro & Varian, 1999) Such customization is termed
"versioning". It is, of course, easier to do this for services and intangible information
goods than for products, but the examples above show that even manufacturers can
take advantage of the increased information available from customers to tailor
products that at least give the appearance of being customized even if they are simply
variations on a common base.
d. Community Building
One of the major uses of the Web for both online and offline businesses is to build a
network of customers for exchanging product-related information and to create
relationships between the customers and the company or brand. These networks and
relationships are called communities. The goal is to take a prospective relationship

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with a product and turn it into something more personal. In this way, the manager can
build an environment that makes it more difficult for the customer to leave the
"family" of other people who also purchase from the company. For example, the
software company Adobe builds community by devoting a section of its Web site to
users and developers. They exchange tips and other information, which binds them
more to the company and its brands. By giving the customers the impression that they
own this section of the site and by being open to the community about product
information, Adobe creates a more personal relationship with its customers.
6.6 Privacy Issues
The CRM system depends upon a database of customer information and analysis of
that data for more effective targeting of marketing communications and relationship-
building activities. There is an obvious tradeoff between the ability of companies to
better deliver customized products and services and the amount of information
necessary to enable this delivery. Particularly with the popularity of the Internet,
many consumers and advocacy groups are concerned about the amount of personal
information that is contained in databases and how it is being used. The opt-in style is
popular because it gives legitimate power to companies to limitedly interfere with the
customer's privacy and enabling them to learn more about the customers.
Privacy issue is not a new issue for human civilization, but with the increasing virtual
socialization and networking, the issue has become more of a concern as these days
the use of information regarding someone plays important role to manipulate that
person. A customer can be a target of strategy that makes him buy something that he
never needed in the first place. Managers should be careful not to violate personal
rights while ensuring better customer relationship management because such abuse of
trust will ultimately conveys wrong message in the market thus destroying all the
efforts and hard-work performed to put the company into the position it stands today.
6.7 Metrics
The increased attention paid to CRM means that the traditional metrics used by
managers to measure the success of their products and services in the marketplace
have to be updated. Financial and market-based indicators such as profitability,

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market share, and profit margins have been and will continue to be important.
However, in a CRM world, increased emphasis is being placed on developing
measures that are customer-centric and give managers a belter idea of how their CRM
policies and programs are working.
Some of these CRM-based measures, both Web- and non-Web-based, are: customer
acquisition costs, conversion rates (from lookers to buyers), retention/ churn rates,
same customer sales rates, loyalty measures, and customer share or share of
requirements (the share of a customer's purchases in a category devoted to a brand)
(Lehmann & Winer, 2001) All of these measures imply doing a better job acquiring
and processing internal data to focus on how the company is performing at the
customer level.

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7| Conclusion
Customer Relationship Management (CRM) is a newly arriving concern of
managerial practices, which is most probably the most important competitive strength
of the 21st
century global company. With the arrival of information technology and
growing public interest in living virtual life, the impact of IT in their daily lives and
the changes that could be seen in the buying behavior of the people prone to IT, all
have pointed towards CRM as the most important managerial tool of the century to
effectively and efficiently deliver the satisfactory value to the customers while
retaining the long term profitability and sustainable development of the company's
wealth.
The report concludes that CRM is the most effective tool to understand and satisfy
our customers. By properly identifying the prospective customers and focusing on
their retention for the longer period of time, we can actually create brand loyal
customers which are the source of profit for a longer period of time. However it is not
always easy to implement CRM. Researches done during last decade have found that
around 70% of the CRM projects failed in U.S. (Kotorov, 2003). This is a significant
amount, and considering U.S. to be scientifically and technologically the most
advance nation of the world where the top businesses operate, we can easily estimate
the risk related to implementation of CRM. Thus, the model so presented here will be
the guideline for planning a successful CRM.
The objective of the report was to give a general but strong CRM model which can
help students as well as businessmen to implement CRM in the business in the real
world. As such the objective of the report is hereby met by the report.

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LIST OF FIGURES
Exhibit 1: CRM Model ...................................................................... Page 5
Exhibit 2: Customer Retention/Relation Programs ........................... Page 11

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