CB SESSION 10 CRM

CB SESSION 10 CRM - Customer Relationship Management System...

Info iconThis preview shows pages 1–9. Sign up to view the full content.

View Full Document Right Arrow Icon
shaping success in business and finance Customer Relationship Management System
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
shaping success in business and finance We know what Enterprise Resource Planning systems are. .. ¾ If no, then here it is: - ERP systems are based on a suite of integrated software modules and a common central database. - Database collects data(of course!) from different divisions & departments in the firm, also from a large number of key businesses in manufacturing & production, finance & accounting, sales & marketing - And makes data available for applications that support nearly all of an organisations internal business activities. - When new information is entered by one process, the information is made available to other businesses processes
Background image of page 2
shaping success in business and finance Why is CRM Used? CRM is used by organizations to manage relationships with customers This includes o Capturing Leads o Storage and analysis of the customers, vendors and partners details o Internal information (organizational)
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
shaping success in business and finance Fig 1 CRM model
Background image of page 4
shaping success in business and finance Changing Role of Customer Relationship Management (CRM) Customer relationship management is appropriate for nearly all marketing situations, but particularly in services & business to business (B2B) marketing Over the past 20 years marketing has engaged in a ‘paradigm shift’ from a transactional view of marketing to one founded on relationships (Kristi an Moller) This in no way it replaces the 4/7Ps of the marketing mix but augments it CRM and associated tactical issues of Customer Care have evolved and developed substantially over the past 25 years
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
shaping success in business and finance Why CRM? CRM is a business strategy designed to optimize profitability, revenue and customer satisfaction Gartner Management Tools & Trends 2009 by Bain & Co.
Background image of page 6
shaping success in business and finance Strategic Role of CRM CRM is therefore a strategic approach to business concerned with improving shareholder and stakeholder values via appropriate relationships with key customers and customer segments o Particularly in B2B marketing, where shortcomings of conventional marketing were first recognized, and also in service industries, e.g. financial services
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
shaping success in business and finance Strategic Role of CRM The development of a CRM strategy begins with a business vision, customer strategy , & deep understanding of customer choice & customer characteristics i.e. it must be configured around the customer CRM involves the cooperation of people internally and externally o Not just the use of technology - it is about forming relationships The role of the salesperson changes from transactional salesperson to relationship salesperson Devotes time to acting in a trouble-shooting capacity, keeping the flow of supplies secure, ensuring consistent quality, and acting more in a liaison capacity
Background image of page 8
Image of page 9
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 06/12/2011 for the course MM 101 taught by Professor Brunos during the Spring '11 term at London Business School.

Page1 / 31

CB SESSION 10 CRM - Customer Relationship Management System...

This preview shows document pages 1 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online