The more customers they gain, the more profit them able to get. However, Maxis have to analyze their target market because some customer able to bring more profitable for the company. Therefore, Maxis should identify and notice which customer that they want to targeted. Measure: Customer Survey Customer satisfaction surveys are playing an important role in measures. Customer surveys are the most effective way to gain customer feedback and increasing customer loyalty.
The process first starts with identifying a customer and maintaining all the corresponding details into the CRM system which is also called an ‘Opportunity of Business’. The Sales and Field representatives then try getting business out of these customers by sophistically following up with them and converting them into a winning deal. Customer Relationship Management strategies have given a new outlook to all the suppliers and customers to keep the business going under an estimable relationship by fulfilling mutual needs of buying and selling. Customer Relationship Management (CRM) is a strategy for managing all your company’s relationships and interactions with your customers and potential customers. It helps you improve your profitability.
Customer orientation is not only focuses on customers’ needs, it includes other stakeholders’ expectation too. The relationship between customer orientation and customers’ loyalty is strong. In other words, customer orientation can improve the customers’ loyalty (Homburg, Müller, & Klarmann, 2011). The salespersons that are close with customers will drive customers to continuously buy products from the salesperson. This is called building “Guanxi” with customers to achieve company goals.
Processes that CYFOR use to Develop Markets For the purpose of ensuring growth and development of business, CYFOR pays attention to some of the following processes to develop markets: • Implementing effective initiatives and strategies in order to retain customers/ messages related to product life cycle is also sent to both active and inactive consumers so that awareness about the brand can be increased • The company also adopted process of inspiring increased demand from prospective customer base for developing markets for the brand (Jiang, et al., 2012) • Analysing the competition is one of the most important processes that are used by CYFOR for developing markets. It is the significant process that can be used by the organisation because it provides them an overview about the substitute products and about the competitors that can impose threat on the growth and development of the company • Creating integrated marketing plans as well as relevant tactics is another process that is used by CYFOR for developing market. With the help of effective marketing plans, the organisation is able to determine the areas that need consideration in relation to other
Therefore, having CRM in SMEs is to enhance a good customer services. CRM is a tool to implement a marketing strategy to focus on the customer. According to Parvatiyar and Sheth (2001), CRM defined as a strategy and process of acquiring and retaining customer which can create superior value for the company. By create a good customer service, customer relationship management play an important role to maintain the relationship with the customers. In term of CRM, not all customers are the same.
Customers provide revenue for the company thus making them have a stake on the company products and services they provide. According to Berens (2012), the stakeholder theory suggests that the company must consider the customer needs. Loyal customers provide a crucial and relevant insight of what a company or firms needs to do in order to satisfy the customer needs. It's through loyal customers that enable companies to retain and sustain competitive advantage. Thus very crucial to establish a relationship with the customers so as they can contribute their views and suggestions.
For XL Tech, the values could be being extra competitive, aggressive while pushing the product, having a sound technical knowledge confined to the product, maintaining client relationship. For Resilient on the other hand a thorough knowledge of work environment, processes and systems is a must. The product firm driven by sales has its values centered on reaching the client and pushing for product sale. The solutions and consulting firm have its values driven by client feedback and satisfaction of the clientele. The integration can be achieved by training the workforce accordingly.
Sales and Marketing functional areas’ main purpose is to make the customer aware of products that they sell and sell them it if needed. They do this by advertising the product which is basically trying to give the customer a reason to buy said products. Marketing is a very important aspect of the business and part of the core functional areas. It not only promotes products but services as well. Marketing helps keep the company relevant as it keeps customers up to date on what to expect from the company.
First of all customer means A person who buys goods or services from a shop or business, loyalty means the state or quality of being loyal, faithfulness to commitments or obligations. So Customer loyalty is the key objective of customer relationship management and describes the loyalty, which is established between a customer and companies, persons, products or brands. “Customer loyalty is an essential aspect in any organization whether it is offering a good or providing a service. “Many organizations are looking for various ways to increase their customer loyalty as it has a positive effect on the profitability of the organization.” (Gremler 1996: 171, Abdullah et al. 2000: 826).The individual market segments should be targeted in terms of developing customer loyalty.
Company leaders first need to establish their brand attributes and determine the implications for interaction with customers across all touch points. Companies also need to determine how different customer tiers – from steadfast and highly profitable segments to occasional shoppers – are to be treated. That means training employees thoroughly, steering customers to the appropriate channel, and satisfying customers so well that they become advocates. Establishing a sound CRM foundation is essential for any industry intending to implement a loyalty program – since success depends on achieving a complete view of the customer. This is true for business-to-consumer industries, such as travel, hospitality, and wireless services – as well as for business-tobusiness industries, such as construction and energy, where loyalty programs are becoming increasingly relevant to enhance customer relationships.