The Group PCCW Limited (PCCW) is a Hong Kong-based company which holds interests in telecommunications‚ media‚ IT solutions‚ property development and investment‚ and other businesses. The Company holds a majority interest in HKT‚ Hong Kong’s premier telecommunications service provider. HKT meets the needs of the Hong Kong public and local and international businesses with a wide range of services including local telephony‚ local data and broadband‚ international telecommunications‚ mobile‚ and
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Customer Relationship Management or CRM is a strategy and processes used to learn more about customers’ needs and behaviors in order to develop stronger relationships with them. Today marketers consider retaining of customers as much more challenging job than acquiring customers in context of growing competitive forces. The traditional transactional approach of marketing became insufficient to achieve the marketing goals. The focus of transactional marketing is on individual transaction and doesnât
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Business environment of CRM When a person or an organization entrusts with their investment or any kind of input then they are a “CUSTOMER”. Also the individual or the organization is customer of some individual or an organization. Now managing the relationship between these two parties is known as customer relationship management. Few examples to state would be: Tourist and government People and government Consumer and corporate The business environment affecting these two parties is of importance
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Initiatives The use of Customer Relationship Management (CRM) in banking has gained importance with the aggressive strategies for customer acquisition and retention being employed by banks in today’s competitive milieu. This has resulted in the adoption of various CRM initiatives by these banks to enable them achieve their objectives. The steps that banks follow in implementing Customer Relationship Management (CRM) are: Identifying CRM initiatives with reference to the objectives to be attained
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Managing a CRM Implementation Customer Relationship Management Reserved Copyright 2007 Thomson Publishing: All Rights Wagner & Zubey Copyright (c) 2006 Prentice-Hall. All rights reserved. 1 Learning Objectives Describe the risks associated with implementing CRM applications Discuss the process of choosing from among various CRM alternatives and vendors Divide a CRM project into manageable phases Describe the CRM development life cycle Explain the importance of change management for CRM initiatives
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Classic Airline Marketing Solution Mkt/571 Marketing November 20‚ 2012 Introduction Classic Airlines is the fifth largest airline serves 240 cities with more than 2‚300 flights per day. The airline earned $10 million on $8.7 billion in sales last year (“University Of Phoenix Material”‚ 2008). . Although a profitable airline the increasing uncertainty of flying‚ Classic Airline’s stock
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Marketing Mix The primary marketing concerns today have most of the apprehensions about building the 4ps rather four pillars of marketing. A successful mix of the right product sold at the right place in the right time using the most suitable promotion is vital for marketing. It serves as a link between the firm and its customers. “Deriving benefit out of the various elements of the mix‚ linking them all together in a balanced format is the marketing focus today.” (Ferrel‚ 2008) The 4ps
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66-70. Bholanath Dutta‚ CRM in Financial Services Marketing‚ Journal of Marketing Mastermind‚ Sept 2008. Davids M (1999)‚ How to Avoid the 10 Biggest Mistakes in CRM‚ Journal of Business Strategy‚ Nov-Dec 1999‚ pp22-26. Day GS (2000)‚ Managing Market Relationship‚ Journal of the Academy of Marketing Science Vol. 28 (1)‚ pp – 24-30. Ed Thompson et al (2005)‚ Organisations are beginning to think about CRM again‚ Management update‚ November‚ 2005. Kimberly‚ C et al (2005)‚ CRM Marketing Strategies and
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4. Analyse critically how Customer Relationship Management (CRM) system can play an important role to increase profits for each of the organization. CRM (Customer Relationship Management) is an information industry term for methodologies‚ software‚ and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example‚ an enterprise might build a database about its customers that described relationships in sufficient detail so that management
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the process of CRM. The last section discusses CRM‚ the main ideas behind it and how Data Mining fits in the process of CRM. Subsequently with the various Data Mining tools like Market Basket Analysis (MBA) and cluster Analysis etc .relevant to CRM and various live cases of different firms related to effective CRM
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