IV. Solution: TVR Company should apply the 6 sigma DMAIC in order to anticipate the root cause analysis and process improvement. DMAIC roadmap is likely to suitable for the TVR Company because quality managers are not able to know the problems, root causes and solutions. Moreover, DMAIC provides many benefit to TVR Company including improve products quality, reduce the process line time, develop the staff skills, raise the respect between sections and drive the sales growth. (The Six Sigma Group, nd) 1.
Installing a CRM system can definitely improve the situation and help in challenging the new ways of marketing and business in an efficient manner. Hence in the era of business every organization should be recommended to have a full-fledged CRM system to cope up with all the business needs. An ideal CRM system is a centralized collection all data sources under an organization and provides an atomistic real time vision of customer information. A CRM system is vast and significant, but it be can implemented for small business, as well as large enterprises also as the main goal is to assist the customers efficiently. Usually an organization consists of various departments which predominantly have access to customer’s information either directly or indirectly.
Customer relationship management (CRM) is a company’s plan to manage customers. It uses technology to automate and organize daily tasks such as sales or customer service. It also allows companies to manage and store data and information collected from these tasks, making them easily accessible to everyone in the company which would need to see any such information/data. In order for TC plc to improve their customer relationship management they should: 1. Create an effective computer system which would enable them to share information throughout all of their locations, this will help analyse customer data and behaviour and help identify areas to expand business 2.
The acquisition has also ramped up things for Flipkart and goals they could have achieved in five to six years earlier would be possible to do in the next two to three years with the help of Myntra. In the last few years Myntra has helped take online fashion to an entirely different level by being biggest leaders with a very unique differentiation factor. The company has largely focused on building deep relations with the brands that they have tied up with and have successfully made some major brands their household
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.
This is proven to be able to help IKEA in terms of providing customers and co-workers the latest information about a specific product and stores, aiding any customer anywhere and at any time if they need to. It also enhances sales by providing more exciting views of the products and stores. Customers can now have a more detailed representation of the overall product in comfort from home before making a decision to purchase from IKEA. In fact, mobile technology also allows customers and staffs to be able to communicate quickly and efficiently, making interaction as smooth as silk. It opens a huge range of possibilities for the customers and allows many opportunities to shop with ease for the people
They have a well-diversified business model of subsidiaries, associates, joint ventures and management contracts which help in reducing risk and fuels faster growth. This asset light policy will help in revenue stability during economic turndown. Presently 45% of IHCL hotels are operated through joint-ventures, 40% are management contracts and 15% are owned in part or full by IHCL. Source: Adapted from HotelierIndia Nov 2010, Press Release The company has introduced a strong loyalty programme which helps in retaining customers. The company 's alliances and partnerships have helped it in entering into new markets such as wildlife lodges and air catering.
Since are target market is the Corporate people, their economic and social life would help us in getting more in business. With the development taking place in the country there are many investments happening for which more and more business people are coming. And the hotel being well known in the country allows us to attract more customers. Since we provide a good customer service, there is loyalty among the customers and they help us in bringing new customers through word of mouth. MARKET SEGMENTS Majestic Hotel currently has six well defined market segments with eight subsegments as shown in the model below: What does each segment mean: Corporate negotiated national accounts(C1) are accounts where the person has all ready stayed in our hotel and they are from the
• Our customers know who we are. They feel more secure in doing business directly with us. • Business trips are much more efficient and effective because able to meet directly with the customer responsible for selling the product. • We know whom to contact if something isn't working. • Customers provide faster and more direct feedback on the product and its performance in the marketplace.
For example, a company can use internet to inform their customers about great deals and discounts, this makes customers feel respected and it can drive their desire to buy. Improves data storage Information and data are very important for every one of us in daily live, so it is very essential to store them safely and also access them at any time of need. With Dropbox, iCloud, Goodle Drive and others, they enable us to store and backup data. We can save documents, photos, music and even contact in the storage and review them in any devices as long as we log in the same account. Improved social