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    Customer Relationship Management: Session I

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    Tony Joseph
    Customer Relationship Management (CRM) involves shifting marketing strategies from focusing on transactions to building long-term customer relationships through trust and mutual promises. CRM is both a business strategy and competitive strategy that recognizes the critical importance of customer relationships in an increasingly competitive marketplace. Effective CRM requires understanding crucial truths like waning customer loyalty, informed customers who expect service, and the need to focus on profitable customer segments.

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    Customer Relationship Management: Session I

    Uploaded by

    Tony Joseph
    40 views10 pages
    Customer Relationship Management (CRM) involves shifting marketing strategies from focusing on transactions to building long-term customer relationships through trust and mutual promises. CRM is both a business strategy and competitive strategy that recognizes the critical importance of customer relationships in an increasingly competitive marketplace. Effective CRM requires understanding crucial truths like waning customer loyalty, informed customers who expect service, and the need to focus on profitable customer segments.

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    CRMT Session1

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    Customer Relationship Management (CRM) involves shifting marketing strategies from focusing on transactions to building long-term customer relationships through trust and mutual promises. CRM is both a business strategy and competitive strategy that recognizes the critical importance of customer relationships in an increasingly competitive marketplace. Effective CRM requires understanding crucial truths like waning customer loyalty, informed customers who expect service, and the need to focus on profitable customer segments.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    40 views10 pages

    Customer Relationship Management: Session I

    Uploaded by

    Tony Joseph
    Customer Relationship Management (CRM) involves shifting marketing strategies from focusing on transactions to building long-term customer relationships through trust and mutual promises. CRM is both a business strategy and competitive strategy that recognizes the critical importance of customer relationships in an increasingly competitive marketplace. Effective CRM requires understanding crucial truths like waning customer loyalty, informed customers who expect service, and the need to focus on profitable customer segments.

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    You are on page 1of 10

    CUSTOMER

    RELATIONSHIP
    MANAGEMENT
    Session I

    Shift in Marketing
    From 4ps to

    Interaction

    approach

    to

    Industrial

    marketing
    Services marketing
    Customer relationship economics
    2

    Relationship Building
    as Marketing
    Cornerstone
    Concepts of
    Promise
    Trust
    Long term goal

    Transaction

    Marketing

    to

    Relationship

    Marketing
    3

    CRM is
    A Business Strategy
    A Competitive Strategy

    Marketing Relationship Marketing CRM


    4

    Criticality of Customer
    Relationships
    Non-traditional competition
    Market Maturity
    Are all customers profitable!

    Crucial Truths
    Customer loyalty dwindling
    Patronage expected
    Information
    Customer control
    Lifetime value
    Simplicity - Over complication

    CRM Myths
    Technology or software is enough
    Sole focus on relationship development

    customer acquisition !
    Customers interested in relationships
    Satisfaction = Loyalty?
    Issue of Profitability and Segmentation
    Predictability of CLV

    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 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 and Sheth (2001)
    8

    As per the definition - Marketing Productivity


    - Collaboration
    - Customer Selectivity
    -

    Proactive

    customer

    business

    development
    - Build partnering relationships
    - Leads to superior mutual value creation
    9

    Core Elements
    Interactions & reciprocity
    Commitment
    Trust

    10

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