Customer Relationship Management

Customer Relationship Management
SYMBIOSIS INSTITUTE OF MANAGEMENT
STUDIES (SIMS)
Dissertation
on

Customer Relationship Management
Submitted By:
Ayush Singh
Roll no:09
PRN No:68211
Class- 2(D)
Semester: Fourth Semester
Date required:18/2/2008
Date of Submission: 18/2/2008
Assignment Grade:
Comments of the Faculty:
1


Customer Relationship Management
CONCEPT   OF   CRM
INTRODUCTION TO CRM
CRM   (Customer   Relationship   Management)   has   been   growing
steadily for the last few years and is now seen as the way forward for any
business   wishing   to   thrive   in   the   "e-future'.   CRM   concentrates   on   the
retention of customers by collecting all data from every interaction, every
customer makes with a company from "all' access points whether they are
phone, mail, web or field. The company can then use this data for specific
business     purposes,     Marketing,     Service,     Support     or     Sales     whilst
concentrating   on   a   customer   centric   approach   rather   than   a   product
centric.   Every   business   is   different   and   therefore   needs   a   different
approach to CRM. Every company also has different legacy systems and
has   various   levels   of   data   integration   within   the   company.   This   is   why
CRM is so hard to define as it is all things to all companies.
Customer   Relationship   Management   (CRM)   is   developing   into   a
major   element   of   corporate   strategy   for   many   organisations.   CRM,   also
known   by   other   terms   such   as   relationship   marketing   and   customer
management,     is     concerned     with     the     creation,     development     and
enhancement   of   individualised   customer   relationships   with   carefully
targeted   customers   and   customer   groups   resulting   in   maximizing   their
total customer life-time value.
Industry   leaders   are   now   addressing   how   to   transform   their
approach to customer management.   Narrow functionally-based...