According to Croteau and Li(2003), CRM is a business strategy that is a customer-focused business strategy that set the objectives to enhance customer satisfaction and customer loyalty by presenting a more reactive and customized services to each customer. CRM is a business process was defined as a highly-aggregated process that subsumes numerous sub-processes, such as identification of customer and customer knowledge creation” (Srivastava, Shervani and Fahey, 1999). CRM in terms of technology perspective, it means it enable organizations to encourage closer relationships with their customers through technology (Hsieh,
It is a strategy for realization of its vision and mission as a whole. The organization culture of the company is in terms of the organization structure formed. So if, the company is a strategic necessity, first run businesses the organization of society and culture that applied, then a new information system with information technology online and organization culture that support incumbent wants. In business information system, it is useful in all areas of business management. The revenue is growing as opportunity and segment sales in the target market and improves customer satisfaction with products and services.
It helps you improve your profitability. CRM enables you to spotlight on your organisation’s relationships with individual people whether those are customers, service users, colleagues or suppliers. Some of the biggest gains in productivity can come from moving beyond CRM as a sales and marketing tool and embedding it in your business – from HR to customer services and supply chain
Customer satisfaction: It is a business term, is a measure of how products and services supplied by a company meet or surpass customer expectation. It is seen as a key performance indicator within business and is part of the four perspectives of a balanced score. In a competitive marketplace where businesses compete for customers, customer satisfaction is seen as a key differentiator and increasingly has become a key element of business strategy. There is a substantial body of empirical literature that establishes the benefits of customer satisfaction for firms. Customer satisfaction, a term frequently used in marketing, is a measure of how products and services supplied by a company meet or surpass customer expectation.
2 PURPOSE A profitable business essentially will be continuously seeking suggestions to further improve client satisfaction. "Customer satisfaction provides a top indicator involving consumer buy intentions in addition to respect. inch "Customer satisfaction information
This strategy essentially gives firms an advantage as the customers form the basis of the firm’s profitability. Matey, (2016) stated that a customer-driven marketing strategy focuses on meeting the needs of the customers and examines how the products or services can meet those needs. The six important components as mentioned throughout this essay which are: repeat buyers, higher prices, loyalty in crisis, word of mouth, one-stop shopping and new product innovation (appendix 1) all contribute to providing profits, corporate performance, and growth allowing a firm to obtain a competitive advantage over another. While all the factors highlighted in appendix 1 are needed the most important which marketers are highly concerned with is customer satisfaction; this firstly provides the foundation to all the supporting components. While targeting different sectors of the market through marketing research will create value it will also enhance the product and make it more marketable.
Sales & Mktg. To ensure that our customers perceive Ericsson as a thought leader and their preferred business partner. In addition, we ensure operational excellence in sales and marketing across Ericsson. Strategy: has the overall responsibility for Ericsson's strategy and new business development, strategic business investments and alliances. Chain of command: My Organizational Hierarchies Employee Line Management Employee Functional Management Project KAM
While taking a decision by an organisation needs to ensure that the decision should have a positive impact on its customer. It should see that the customer is satisfied with the decision or if the decision puts a negative effects on the customer`s perception about the organisation. If the organisation does not focus on the customer satisfaction than the long run for the organisation is difficult. After coming to know the customers, organisation started establishing a unique brand identity and providing excellent customer service for grabbing customer attention. If the intent of business intelligence and analytics is optimizing business opportunities, then most business scenarios involving revenue generation and managing the customer experience
Combine sales rep and consultants in solutions team that would face client. Train each of them in cross skills and cross selling with purpose of higher value for customer. Define their roles distinctly to get new and repeat client business. Customer should get the best experience from the team without losing old experience. Define measurable metrics to measure these set/expected behaviours and include them in total rewards plan.
(2005)6 in his view Customer satisfaction increase the existing customer loyalty repurchase process, awareness of the people about the firm, decrease the price flexibility, the cost of gaining new customers and prevent the customer being affected from competitive enterprises. P.Krishnaveni and D.Divya Praha (2005)7 in their study presented a comprehensive view of service quality and its linkages with customer relationship management. Newell Fedrick (2004)8 states that CRM helps in understanding the buying behavior of customers for better products and services, spreading customer information across the enterprises to allow customer, facing employees to be more efficient and effective, and creating greater operational efficiency to reduce costs. Chen and Pop Vich (2003)9 states that CRM initiatives have resulted in increased competitiveness for many companies as witnessed by higher revenues and lower operational costs. CRM applications help organizations assess customer loyalty and profitability an measures such as repeat purchase, dollar spent, and longevity.