industry – with challenges ranging from tighter profit margins to new entrants in the newvehicle and aftermarket service business – original equipment manufacturers (OEMs) and dealers are turning more aggressively to customer relationship management (CRM) to help attract new customers‚ increase brand loyalty‚ reduce costs‚ increase efficiency‚ and maintain a competitive advantage. Today’s automotive consumers are increasingly well-informed and have an unprecedented level of choice in the marketplace
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Role of CRM in Retail CRM has been defined as a process; as a strategy‚ a philosophy‚ a capability‚ or as a technological tool .However‚ CRM is definitely more than just technology. While technology is a key enabler‚ it is only a means to the end and most authors view CRM as a combination of strategy and information systems focusing company’s attention on customers in order to serve them better (Chan‚ 2005). CRM is considered to unite the potential of relationship marketing strategies and
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CRM EXAM REVIEW Q1 1.1 The definition of CRM The systematic combination of people ‚processes and technology that is designed to enable an enterprise to find ‚acquire‚and retain customers 1.2 Globalization Extensive competitors Widespread usage in internet Record the customers information in 360 view Q 2 2.1 Mass Marketing vs Relationship Marketing Mass Marketing: is a market coverage strategy in which a firm decides to ignore market segment differences and go after the whole market
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they are confronted with the reality that the must revolve around the market and the customer experience‚ and not vice versa. Kevin Turner has been very involved in WalMart’s Retail Link system‚ which is a company extranet that is used by WalMart to connect some 10‚000 suppliers with WalMart buyers. The system is used by over 30‚000 people daily. What distinguishes Kevin Turner’s‚ and ultimately WalMart’s‚ approach to IT infrastructure (an consequently has resulted in making the company a supply-chain
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REPORT July 2002 Use the Balanced Scorecard to Execute CRM Strategy Viewpoint CRM is all about vision‚ strategy and implementation. Too many companies lead with technology‚ and fail. Changing behaviors and processes are key to implementing strategy. A Balanced Scorecard makes change manageable. Dynamics • Competitive pressures are driving companies to invest in CRM‚ even though 50% to 90% of CRM initiatives fail. The primary cause of failure is the inability to develop and effectively
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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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leveraging Information systems to an extent never before seen in the retail industry. Technology tightly coordinates the Wal-Mart value chain from tip to tail‚ while these systems also deliver a mineable data asset that’s unmatched in U.S. retail. To get an idea of the firm’s overall efficiencies‚ at the end of the previous decade a McKinsey study found that Wal-Mart was responsible for some 12 % of the productive growth in the entire U.S. economy.[2] The firm’s capacity as a systems innovator is so respected
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IBM Case Study Wal-Mart IBM Wal-Mart Discussion 1. How has the implementation of NAFTA affected Wal-Mart’s success in Mexico? Free trade zone: Wal-Mart encountered a problem that its imports charges on many of the goods from America. Thus prevent Wal-Mart from being able to offer its “Every Day Low Prices”. After the implementation of NAFTA‚ Mexico‚ U.S and Canada become free trade zone. Wal-Mart can reduce the tariffs on American goods sold to Mexico from 10 percent to 3percent. That
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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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a. Introduction of Company. b. Objective of Walmart. c. History of Establishment. d. Mission and Vision. e. Service Provided f. Internal Organization Environment * Target Market * Market Segmentation – Demographic * Potential Market Area * Store Format * SWOT Analysis g. Recommendation. h. Conclusion. i. Bibliography. j. Appendices 1.0 Introduction of Company Walmart is the largest retail store in the US. It has over 3
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