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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

2

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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%$

4

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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

A

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Core Ele$ents

 Interactions B reciprocit#

 Commitment

 Trust

>=