Department of Business Administration Customer Relationship Management c55fb2db164da7c3d0dd3d66d2235cce.doc LECTURE OBJECTIVES Understand relationship marketing. Understand the differences between relationship marketing and transaction marketing. Understand customer relationship management Identify the essential concepts on customer relations – customer satisfaction and customer loyalty 1. Understand Relationship Marketing 1.1 What is ‘Relationship Marketing’? Marketing consists
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CUSTOMER MANAGEMENT PROCESSES It becomes extremely important in today’s competitive world to outsmart the competitors not only by innovations in product and quality but to introduce new strategies in selecting‚ acquiring and maintaining a healthy relationship with the customers for the overall development of the company. The customer management processes involves: * Selecting a customer by creating customer segments based on the customer value proposition. Selection can be based on demographic
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Tutorial -1 1. Describe three factors that would cause a company to continue doing business in traditional ways and avoid electronic commerce. Ans: Following three factors that can cause company to continue doing the business in traditional way & avoid electronic commerce:- a. Perishable foods. b. High-cost items. c. Unique items. 1. Choose one major difference between the first wave and the second wave of electronic commerce. Write a paragraph that describes
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21 January 2015 Customer Service Matters Introduction Organizations are complex collections of various groups working toward the same common goal. In order to create the effective use of limited resources and to focus on stated goal‚ organizations’ structures are established. The most common structure‚ Functional Structures‚ have 3-5 levels each with their own specific responsibility and expectation. The most commonly recognized levels include the following: Human Resources (Hiring employees
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What important role do customers play in the quality management of an organization? The most important asset of any organization is its customers.An organization’s success depends on how many customers it has‚how much they buy‚ and how often they buy.Customers that are satisfied will increase in number‚ buy more‚ and buy more frequently.Customer satisfaction is not an objective statistics but more of a feeling or attitude. If customers are happy with a product or a service they have purchased
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Date: 10/7/2014 Business English 312 Value Creation: The Six DCF Pointers When trying to decide the value of a particular company‚ let’s say Apple for example‚ it is crucial to understand what determines its investing value. Valuing a huge corporation is not simply taking a look at the balance sheet and income statement and figuring out what’s total assets and total liabilities. A discounted cash flow analysis is one of the main ways investors can value a company. The idea of the actual valuation
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Corporate-level strategy is focused mainly on the decisions over the scope of the firm ’s activities‚ mainly: product scope‚ geographical scope‚ and vertical scope. One of the myths of corporate-level strategy is that strategy formulation can be separated from implementationthat strategy is constructed first‚ then the appropriate management and organizational structure is selected afterwards. Unfortunately‚ this will result in a poorly designed strategy since it does not take into account the
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business‚ reach customers likely to respond to new sales opportunities or make the most of their valued staff. Banks that define and implement solutions to these challenges are those that will successfully compete and thrive into the future. This paper examines the strategic role of the contact center in retail banking‚ and how it can deliver the increased revenues and cost savings that will drive profitability and shareholder value. The paper introduces ten essential strategies you can use
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Major Research Project [For the partial fulfillment of requirement towards degree in Master of Business Administration (MBA)‚ 2009-11 of Devi Ahilya Vishva Vidhalay (DAVV)‚ Indore] On “An evaluative study on the factors influencing customer satisfaction in BIG BAZAAR in Indore” Guided By: Submitted By: Mr. Giriraj Godani Hareram chouhan MBA IV Semester
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Best practices for measuring customer satisfaction? Is it upper level management‚ hired consultants‚ surveys‚ or reactions to industry swing? So many choices but what really is a best practice. Customer satisfaction programs‚ research‚ employee satisfaction‚ and personal experience all play a role in measuring customer satisfaction. Even when using those practices it takes effort and continuous improvement to stand a chance on improving customer engagement and satisfaction. Hopefully these next
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