crmt session1
TRANSCRIPT
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CUSTOMER
RELATIONSHIPMANAGEMENT
Session I
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Shift in Marketing
From 4p’s to –
• Interaction approach to Industrial
marketing
• Services marketing
• Customer relationship economics
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as Marketing
CornerstoneConcepts of –
•
Promise
• Trust
• Long term goal
Transaction Marketing to Relationship
Marketing
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CRM is
• ! "usiness Strateg#
• ! Competitive Strateg#
$arketing – %elationship $arketing &
C%$
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Criti"alit# of Csto$erRelationships
•
'on&traditional competition
• $arket $aturit#
• !re all customers pro(ta)le*
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Cr"ial Trths Customer lo#alt# d,indling
Patronage e-pected
Information
Customer control
Lifetime value Simplicit# & .ver complication
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CRM M#ths
Technolog# or soft,are is enough Sole focus on relationship development
– customer ac0uisition *
Customers interested in relationships
Satisfaction 1 Lo#alt#
Issue of Pro(ta)ilit# and Segmentation Predicta)ilit# of CL3
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CRM is%%
5a comprehensive strateg# and process ofac0uiring6 retaining and partnering ,ithselective customers to create superior
value for the compan# and the customer7 Itinvolves integration of marketing6 sales6customer service and the suppl# chainfunctions of the organi8ation to achievegreater e9ciencies and e:ectiveness indelivering customer value7;
& Parvati#ar and Sheth ?
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As per the !e&nition '
& $arketing Productivit#
& Colla)oration
& Customer Selectivit#
& Proactive customer )usiness
development & "uild partnering relationships
& Leads to superior mutual value creation
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Core Ele$ents
Interactions B reciprocit#
Commitment
Trust
>=