ICICI Bank Case CRM | Mohit Bajaj - meer-bezoekers.info
customer relationship management, Internet marketing and social media networking in .. This study is also a case study, because it derives from the target. as business intelligence or customer relationship management or customer proof of concept it presents a case study in the mobile telecommunication industry. Abstract: Customer relationship management (CRM) can help organizations . Generally, the case study method is a preferred strategy when “how” and “why”.
Companies that offer high levels of customer service can't expect too much loyalty if a new competitor offers even better service. High-end businesses must avoid complacency and continue to proactively increase relative service levels when they're faced with even the potential threat of increased service competition.
Even though high-end customers can be fickle, a company that sustains a superior service position in its local market can attract and retain customers who are more valuable over time. Firms rated lower in service quality are more or less immune from the high-end challenger.
Closed for comment; 24 Comment s posted. Closed for comment; 14 Comment s posted. Underlying the case is a central conundrum: Why did the Taj employees stay at their posts, jeopardizing their safety in order to save hotel guests?
And is this level of loyalty and dedication something that can be replicated and scaled elsewhere? Taj employees carry a sense of loyalty to the hotel, and a sense of responsibility to the guests. In India and the developing world, there's a much more paternalistic equation between employer and employee that creates a kinship.
Importance of Customer Relationship Management (CRM)
Long length of service is recognized and rewarded by top management. Closed for comment; 0 Comment s posted. A new working paper, "To Groupon or Not to Groupon," sets out to help small businesses decide. Harvard Business School professor Benjamin G. Edelman discusses the paper's findings.
Discount vouchers provide price discrimination, letting merchants attract consumers who would not ordinarily patronize their business without a major price incentive. These vouchers also benefit merchants through advertising, simply by informing consumers of a merchant's existence via e-mail. For some merchants, the benefits of offering discount vouchers are sharply reduced if individual customers buy multiple vouchers. As a marketing tool, discount vouchers are likely to be most effective for businesses that are relatively unknown and have low marginal costs.
Closed for comment; 59 Comment s posted. A Simple Approach for Better Execution by Robert Simons Successful business strategy lies not in having all the right answers, but rather in asking the right questions, says Harvard Business School professor Robert Simons. In an excerpt from his new book, Seven Strategy Questions, Simons explains how posing these questions can help managers make smart choices.
Putting Customers at the Center of Your Business. Companies with an outside-in perspective aim to provide solutions for customers. Those with an inside-out orientation, on the other hand, just focus on products, sales, and the organization.
Companies evolve through four levels when they aim to become more customer-centric. To develop an outside-in orientation, it is essential to translate awareness of an issue into action toward solving it. Silos must be bridged, not necessarily busted. Best Buy is an example of a company that developed an outside-in orientation by tackling its own internal silos. Some popular companies make it easy for customers to become "volunteers" in the organization's success, says HBS professor Jim Heskett.
Is there a downside? Or will customer-fueled strategies provide competitive advantage in the future? Online forum now closed. Here's why every CEO should spend at least 10 percent of his or her time thinking about, talking to, and steering the organization to the customer.
The Sales and Field representatives then try getting business out of these customers by sophistically following up with them and converting them into a winning deal. All this is very easily and efficiently done by an integrated CRM system. The strongest aspect of Customer Relationship Management is that it is very cost-effective.
The advantage of decently implemented CRM system is that there is very less need of paper and manual work which requires lesser staff to manage and lesser resources to deal with. The technologies used in implementing a CRM system are also very cheap and smooth as compared to the traditional way of business.
ICICI Bank Case CRM | Mohit Bajaj - meer-bezoekers.info
All the details in CRM system is kept centralized which is available anytime on fingertips. This reduces the process time and increases productivity. Efficiently dealing with all the customers and providing them what they actually need increases the customer satisfaction.PPT Presentation On Customer Relationship Management
This increases the chance of getting more business which ultimately enhances turnover and profit. If the customer is satisfied they will always be loyal to you and will remain in business forever resulting in increasing customer base and ultimately enhancing net growth of business.
Installing a CRM system can definitely improve the situation and help in challenging the new ways of marketing and business in an efficient manner.
Hence in the era of business every organization should be recommended to have a full-fledged CRM system to cope up with all the business needs.