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CUSTOMER RELATIONSHIP MANAGEMENT
A CRM is a collection of people, processes, software, and internet capabilities that helps an
enterprise manage customer relationship effectively and systematically. The goal of CRM is to
understand and anticipate the needs of current and potential customer to increase customer
retention and loyalty while optimizing the way product and services are sold.
CRM stands for Customer Relationship Management. It is a strategy used to learn more about
customer's needs and behaviors in order to develop stronger relationships with them. After all,
good customer relationships are at the heart of business success. There are many technological
components to CRM, but thinking about CRM in primarily technological terms is a mistake. The
more useful way to think about CRM is as a process that will help bring together lots of pieces
of information about customers, sales, marketing effectiveness, responsiveness and market
trends
The objective is to capture data about every contact a company a company has with a
customer through every channel and store it in the CRM system to enable the company to truly
understand customer action. CRM software helps an organization build a database about its
customer that management, sales people, customer service provider and even customer can
access information to access customer needs with product and offering.
Marketing Automation
is the most comprehensive campaign management solution available.
It provides everything needed to turn raw, disparate customer data into profitable marketing
campaigns all the way through inception, execution and measurement.
Marketing Optimization
applies sophisticated mathematical approaches to optimize
marketing campaign ROI given limited budgets, channel capacities and other organizational
constraints
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ABSTRACT
Customer relationship management (CRM) is a term applied to processes implemented by a company to handle its contact with its customers. CRM software is used to support these processes, storing information on current and prospective customers. Information in the system can be accessed and entered by employees in different departments, such as sales, marketing, customer service, training, professional development, performance management, human resource management and compensation. Details on any customer contacts can also be stored in the system. The rationale behind this approach is to improve services provided directly to customers and to use the information in the system for targeted marketing and sales purposes.
This project is for one of the major manufacturing company. They manufacture UPSs (Uninterrupted Power Supply Machines) and Inverters for both home and office use.
The company already has an automated system for Manufacturing, Costing, Production, and Sales. The complete details about their customers and details about the product sold to those customers are being maintained in the company's database.
Now the company requires an extension to their existing system, in order to automate their Customer Service part.
Customer Relationship Management is not just about how a company communicates with its customers through advertising, direct marketing and customer services. It is a much broader commitment to organize a company around its customers in order to anticipate individual needs whilst providing the organizational structure to deliver on the marketing promise.
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Customer Relationship Management
A BRIEF HISTORY
1990s: Relationship Marketing
Major phenomenon: Loyalty programs.
Major promise: Loyalty!
Major result:
Companies such as airlines now have an
enormous incremental layer of expenses,
without much to show for it
Early 2000's: Customer Relationship Management
Major phenomenon: Great promise
Major reality: Promise unattained.
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: CUSTOMER RELATIONSHIP MANAGEMENT(CRM)
Presented by: Sumit Kumar Singh
MCA 2nd Sem (2kl09mca24)
Definition: CRM
CRM is a comprehenssive set of processes and technologies for managing the relationships with potential and current customers across the business functions.
