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BUAD307_L14_CRM

BUAD307_L14_CRM - Customer Relationship Management Yi Zhu...

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Customer Relationship Management Yi Zhu July 20, 2011
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Customer Relationship Management Overview What is CRM? What is the cycle of CRM?
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Customer Relationship Management Overview Trial Post-Purchase Evaluation Lost Customer Repeat Customer + _ A company-wide business strategy designed to optimize profitability, revenue, and customer satisfaction by focusing on highly defined and precise customer groups.
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Customer Relationship Management Overview Consumers differ Market Segmentation Customers differ CRM
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Customer Relationship Management Strategy Link all processes of the company from its customers through its suppliers Foster customer-satisfying behaviors Encourage and track customer interaction with the company Organize the company around customer segments Allows companies to tightly focus in on their target markets
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The CRM Cycle Identify customer relationships Store and integrate customer data using IT Capture customer data based on interactions Identify best customers Understand interactions with current customer base Leverage customer information
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The CRM Cycle Identifying Customer Relationships
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