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The majority are in the Developing Phase (45%) with just 3% in Optimizing. This indicates that there is a strong need for greater integration of social networking, permission marketing and customer information management in many e-commerce strategies today. The results shown in Figure 3 also indicates there is significant upside potential for companies who attempt to grow quickly through the integration of social networking, trust-based permission marketing based on relationships created via social networks and the use of customer information acquisition that also benefits each customer as well. All of these factors need to be brought together into a unified, strategic plan in order for companies to excel. The majority of companies in the Developing phase (45) of the maturation levels signal that marketing is merely interacting, not anticipating and planning what to do next for customers. What's needed is more of a focus on making all elements integral to…… [Read More]
The communication system may be able to facilitate the transfer of information, but an essential component of a CRM system is the transfer of responsibility. Somebody at the company must be responsible for every customer issue that arises. This is the only way that the company can ensure that its customers' needs are truly being met. Because of this need for responsibility, it is essential that customer relationship management become a second-nature activity, something that is ingrained in every facet of the organization and every action of its people. In other words, it must permeate the entire organization.
One component of customer relationship management is relationship marketing. Relationship marketing takes the relationship that has been developed between the company and its customers and applies it to the marketing function. The organization will through its CRM program gather information about the customer, and this will be used to help…… [Read More]
just an isolated or siloed strategy. Gartner's definition is shown in Figure 1.
Figure 1: Gartner Group's Eight Levels of CRM
Gartner has defined CRM using both purely technologically-based approaches and the processes that occur in any company looking to serve customers. Yet the most important area of this graphic is the interaction of the valued customer experience and organizational collaboration. At the store level of the example of the manager short two cashiers, its' clear from looking at this graphic of CRM in Figure 1 and also considering the significant investment in building demand that it is unthinkable to do nothing and just try to make the sale work with the two cashiers and the manager working the entire store.
What needs to happen is that the manager needs to immediately call, instant message or e-mail their manager and tell them that given the two cashiers being out sick…… [Read More]
This program helps users include articles that their customers find interesting, and to promote their products and services. This program also includes numerous discounts. The objective of this program is represented by building brands and reaching certain categories of customers (UNFI, 2011).
United Natural Foods' customers are represented by smaller, medium, and larger retailers. Some of them are store departments, while other focus on selling organic products. When collecting information on these customers, the company is interested in their location, because this is an important factor that must be taken into consideration by the distribution process management. The objectives of these companies are also important, because they reflect these customers' needs regarding United Natural Foods' products and services.
In addition to this, the company should be interested in information regarding the financial performance of its customers. This is because this issue can influence the relationship between United Natural Foods and…… [Read More]
Today, it is becoming much clearer that the use of social media in building customer relationships is no longer a matter of individual choice. With the greater use and adoption of these sites, most organizations, which do not aggressively use them will always find themselves locked out of very lucrative markets and thereby unable to compete in the increasingly challenging business environment effectively. These sites are no longer reserved to the it department in the organization. They have become important tools of communication, knowledge sharing and collaboration for both the small and large organizations in the market.
The adoption of social media platforms is nevertheless not a smooth process for most organizations. It has been realized that most executives are normally much reluctant to adopt social media strategies in order to improve customer relationships in the organization. It is normally a kind of apathy that arises out of fear for…… [Read More]
Customer relationship Management (CRM) and customer loyalty are successful marketing strategies in banking industry in Hong Kong
The role of customer relationship management is significant to facilitate the customer satisfaction within several industries including banking. Integration of marketing strategy, customer relationship and customer satisfaction processes results into reduced cost and performance improvement. Business allows the optimal use of resources resulting into optimal performance; it is facilitated through several initiatives of customer service and marketing tactics. The assimilation of information systems and customer relationship management processes facilitates effective flow of communication for all the participants of the systems. The increased flow of information allows the organizations to optimize the business processes performance. Cost reduction, shorter lead time, and improved communications are substantial benefits of customer relationship management.
The case of Hong Kong banking industry is investigated in order to understand the impact of customer service and customer satisfaction. The marketing strategy…… [Read More]
Consider how Harley-Davidson has created an exceptional brand with little reliance on technology and exceptional execution of their events including the annual rides and the mega-event in Sturgis, South Dakota that draws owners and celebrities globally (Schembri, 2009). A lack of technology is not a death-knell to any customer-centered business, but one that makes customer relationships, trust, empathy and transparency all even more critical than they have been before.
Without access to current information technologies (Internet-based) the focus would need to be on more face-time invested with customers, more outreach in terms of telephone calls, and whenever and wherever possible, outreach in person. Consider the remarkable success of Harley-Davidson (Schembri, 2009) and rock bands that have shunned the latest digital technology yet have millions of followers globally including The Grateful Dead and others.
Technology actually has very little to do trust and the development of relationships with customers. It…… [Read More]
"Effective marketing is and will always be founded on a simple premise: customers are won by personalizing the communication between the seller and the buyer and customizing the product and service offerings so they directly appeal to the desires and needs of individual customers." (Ross, 2005)
Trust is stated to be the single most important factor that can help promote loyalty and dedication to the common purpose of ensuring customer loyalty. "It is as important to get all the people relationships right, as it is to supply the right goods and services." (Senior, 2004) in the history of Harley Davidson explicit trust by the owners of these motorcycles has helped sustain the brand even through trying financial periods. The company just does not sell a product; rather it sells a way of life "untold miles of riding and gathering road wisdom along with the road dust." History has proved that…… [Read More]
This action is expected to produce more reliable information.
Sprint Nextel keeps in close and strong connection with its customers, through advertising campaigns that are designed to being the newest and the most complete information to its customers, and through call center that are designed to assist customers, on the other hand. egarding convenience, the company has implemented a series of actions designed in order to facilitate purchasing for customers. These actions are consolidated through continuous and constant developments.
One of the companies that have not been so successful in developing a serious CM strategy is BroadPoint Communications. The company was established in the United States and it offered free long distance calling supported by advertising (Wikipedia, 2007). The company did not invest in CM and the consequence is that BroadPoint filed for liquidation in 2002.
Another wireless company that is very involved in improving customer experience is Verizon Wireless.…… [Read More]
Electronic Customer elationship Management (eCM) -- the application of Customer elationship Management within electronic businesses
Customer Data Integration (CDA) -- the process by which data is collected, assessed and integrated within the organization to maximize its chances of attaining its pre-established objectives
Data mining -- the process by which a database is statistically assessed to identify customer patterns -- it transforms data into information
Customer loyalty -- at a most simplistic level, a loyal customer is a client who continually returns to purchase the company's products and services. Through expansion, a loyal customer is also considered one who offers the company consistent feedback, testimonials or product reviews, but also one who promotes the company's products and services through word of mouth (Wise Geek, 2010).
7. Organization of the Project Paper
Once the paper has introduced the context of the research it carries on with the following chapters:
Chapter II: Literature…… [Read More]
CRM and Ca Buying
The wold of business has come a long way since the only maxim was "The custome is always ight." One of the most impotant new vesions of that age-old wisdom is the model of "custome elationship management" o CRM. This pape examines that stategy, which is a model of doing business in which vaious techniques ae used to lean moe about the needs and behavios of the company's clients fo the pupose of develope stonge elationships with those customes. The motto of this stategy might still be "The custome is always ight" - but a moe appopiate vesion might be something moe like "Good custome elationships ae the coe of all long-tem business success." While CRM has so fa been pimaily used in companies involved in high-tech fields, it has extemely wide potential application in both poduct-oiented and sevice-oiented fims. This eseach examines the use of…… [Read More]
quality customer relationship program improve sales performance?
Introduction customer is certainly the most important asset of any organization or a business venture that depends on sales and repeat sales. Since the basic purpose of every business is to not only generate but hunt down ways to maximize profits, sales performance is one such area that comes under strict scrutiny. Moreover, since satisfied customers play a vital role in improving sales performance, organizations big and small are on the look out for the right tools and techniques for drafting most suitable customer relationship programs as one way of improving sales performance. However, it has been often observed that many organizations and individuals for that matter fail to clearly draw a line that differentiates the two overlapping concepts of sales and customer relations. Thus, by reviewing the plethora of literature on the due importance of Customer elationship Programs in the advancement as…… [Read More]
Customer elationship Management
The lifeblood of any business are its customer relationships and the lifetime value of customers from one product or service generation to the next. As cost and time pressures impact a business however they often resort to dealing with customers on transactions only, not investing the time in fully understanding their needs. As the text and course have shown, the integration of technologies into customer relationship strategies can deliver significant profitability and long-term company performance gains. The reliance on Customer elationship Management (CM) systems and the strategies they enable are revolutionizing businesses by quantifying customer expectations and creating a 360-degree view of each customer (Mukerjee, Singh, 2009). The insights gained from integrating CM systems into customer relationships also serve as the foundation for greater accuracy and precision in e-commerce, Web analytics, and the creation of more effective self-service strategies as well (Xu, Walton, 2005). CM's adoption…… [Read More]
The sales cycles of the enterprise software industry however are changing drastically due to Software-as-a-Service and Cincom's CM systems are in the middle of a transition as the company seeks to stay competitive in 2010.
Assessment of CM at Cincom Systems
The internal CM system was initially called Quota, which was meant to connote the urgency of attaining sales quotes by the Cincom sales teams. Quota had the ability to track customer requirements at the purely technical level and capture the names and addresses of key contacts within companies. It did not however have the ability to manage more complex strategies and campaigns, and lacked the ability to create ongoing tracking of complex opportunities. As a result, Cincom has started adopting Microsoft CM, based on the strategic partnership both companies have (Cincom, 2010). Microsoft CM has also made it possible to track more complex selling cycles and engage in team…… [Read More]
In conjunction with these factors there needs to be a continual focus on increasing the quality of service as well, often using metrics including Service Quality Index (SEVQUAL) to quantify the performance of customer loyalty programs over time.
At present the company being evaluated in terms of their use of customer loyalty is entirely focused on service lifecycle management and warranty cost management. They see customer loyalty purely from the standpoint of how to create ongoing sales, not necessarily increase customer lifetime value by motivating customers to return and purchase more. This has had a corresponding effect of creating attrition in the customer base over time and lost sales. What is needed is a concerted strategy that takes into account unmet needs of customers and responds to them innovatively with exciting products and services to drive up lifetime customer value over time.
CM serves as a foundational series of…… [Read More]
Customer elationship Management
Over the last several years, customer relationship management (CM) has become an area which is helping firms to reduce costs and increase productivity. This is because it is focusing on offering small, medium and large sized businesses with number of solutions to streamline their operations. While at the same time, they are utilizing technology to integrate various solutions together. The most notable include: technical support, sales, marketing and customer service. (Brookings, 2013) (Buttle, 2012)
These areas are helping firm to reduce their costs and more effectively understand what is most important to their customers. This is when they can introduce products and services which are most in demand. These objectives are achieved by creating a single platform and adapting to the organization itself. This offers a firm with a customized solution (via the Internet) that assists them in understanding cliental and the marketplace. (Brookings, 2013) (Buttle, 2012)…… [Read More]
Customer relationship management (CM) is an essential component of organizational management. The purpose of this discussion is to focus on a CM strategy for United Behavioral Health a subsidiary of United Health Care . . United Behavioral Health is dedicated to presenting customers with high quality, cost-effective, managed mental health and substance abuse services to its customers. The investigation suggests that the company's core values have been successfully implemented into the company's CM Strategy. The current CM strategy utilizes technology to allow customers to voice their opinions. Currently the company's website ubhweb.uhc.com provides a page that offers help to members that are experiencing problems. In addition, it provides customers with "coaches" that can help whenever problems arise. The company's customers are currently divided into three different groups; the employer division, the health plan division and the public sector. We found testimonials of customers who were extremely satisfied with the care…… [Read More]
Managing relationships is one of the critical success factors in managing sales. What form might relationships between selling organisations and customers take?
There are many forms that relationships taken between selling organizations and customers. The most critical determinant of how the relationships and selling organizations is the business model of the company itself. For those companies whose business models are predicated on solving complex, intricate problems for customers, direct selling relationships are the most common. The reliance on a consultative, relationship-based selling strategy is often used by companies whose business models focus on complex, challenging problems other businesses have. This approach to selling often puts the role of being a trusted advisor at the center of the selling relationship strategies (Czerniawska, 2005).
In companies who have products that rely primarily on price and availability, the selling relationship are focused on direct selling, persuasive selling, and price-based selling (Leibowitz,…… [Read More]
1. Should Carnival do “CRM?”
Carnival should definitely do CRM. Carnival obtained its identity as the “fun ship” when its maiden voyage ran onto a sandbar: the management team turned the disaster into a enjoyable experience for passengers by opening the bar for them. It was an inspired reaction to a difficult situation—and it helped to earn the cruise line its reputation.
However, having developed over the decades and become a mid-tier line (neither on the cheap nor on the expensive side—though it does offer an experience that competes just as well against any of the luxury brands), Carnival wants to expand its services to the untapped market in North America—i.e., all the people who have never been on a cruise before. To attract those customers and get one-time cruise customers to become repeat customers, CRM is necessary.
CRM is customer relationship management and it is data-dependent. That means it…… [Read More]
Generally, the principal means of achieving that essential integration of functions is through modern data information systems capable of storing relevant information and connecting it in ways that are conducive to promoting sales opportunities. In addition to the functions of information storage and processing, technology also provides a degree of automation that allows the easy accommodation of processes that would be either extremely difficult and time-consuming or completely overwhelming if they were performed by human beings repetitively and one task at a time (Russell-Walling, 2007).
Personal Experiences with CRM Issues
My only experience with CRM systems was within an organization that was not particularly successful at maximizing their potential. The new system was installed and employees received demonstrations of the available capabilities, but only one or two functions was ever fully exploited. The organization treated the CRM system more as a one-time IT initiative and less as a new way…… [Read More]
Lastly differentiating on the extent of experience our customers have had with Internet-based software is useful in defining how much extra time is necessary for software application training.
Discuss your efforts to create customer intimacy.
As our company relies intensively on long-term relationships with customers, taking a very active approach to creating customer intimacy is critical to our business. Our approach is to first concentrate on total accountability for our software by having our CEO visit each and every customer just after an installation to show a high degree of support and accountability. Next, we offer each customer the opportunity to join a customer advisory council specific to their industry and special interests. At present there are three customer advisory councils which give customers an opportunity to discuss their concerns, interested in new product ideas and see what is presently in development.
How will you customize your offering for particular…… [Read More]
Once contractors and employees recognize that CUTCO is interested in making changes, they will willingly provide the company with the information they need to better understand what the customers want and need, and how they can best meet their need. When people talk poorly of a company, customers will hear this news much more quickly than they will hear about the positive gains the company has made or intends to make. When people talk negatively word spreads much quicker. Because of this, CUTCO needs to make amends to the individuals it wronged, and provide an accurate description of its practices so it can begin building a strong customer base. Once CUTCO does this, it can then concentrate on its brand. CUTCO already has a good branding strategy; they must simply ensure this strategy aligns with their objectives and the objectives of the people and contractors working with and for them.…… [Read More]
Britannia links CM to the customer knowledge. It emphasizes on complete knowledge of the customer to engage in meaningful conversations, to identify with them and to assist realize their needs. Such an intimate relationship accomplishes its own presentations and assists to generate a win-win situation. Implementation of CM in Britannia involves segmentation of its customer base in accordance with the customer value that incorporated the present value views and also the life time value views. It has the complete recognition of its two million customers. (CM: getting it right, at last)
Such information rests in its customer information database that it applies as the basis for all its activities-beginning from its sales strategies and marketing campaigns to the logistics of automation in feeding leads, with scripting extended to the branch and call center personnel. Such efficacies in CM have declined the cost-income ratio from its direct marketing from about 7:10…… [Read More]
Nordstrom, Inc. has long enjoyed a reputation for providing superior customer service. This paper examines Nordstrom strategies that the retailer employs to build customer relationships and promote customer loyalty.
Nordstrom is one of the nation's leading fashion specialty retailers, with 204 stores that are located in 28 states. It was founded in 1901 as a shoe store in Seattle, and today operates 115 full-line stores, 86 Nordstrom Racks, two Jeffrey boutiques, and one clearance store. Nordstrom also serves its customers through its website and through its catalogs (Gonzales, 2).
Nordstrom's business strategy has been called "greed through love" (deFelice). The 110-year-old retailer owes its success to customer-friendly policies that are well-known, widely admired, and frequently imitated in the U.S. retail industry. Nordstrom employees work to form customer relationships, and the company is known to have one of the most customer friendly merchandise return policies in the global retail…… [Read More]
Also, while there are numerous similar products being sold in the market, the Apple products make statements, and this -- combined with the multitude of features and the high quality -- stimulates clients to pay the larger price for the Apple products.
Apple's interest in the consumers and what they have to say is immense and it can be observed in all instances, from the manufacturing of the products to integrate customer opinions, to the interaction with the customers before, during and after the purchase, even to the design of the Apple stores. Unlike any other technology creator and retailer, Apple has opened fashionable and appealing stores, in which customers from all over the world can first hand test the Apple products. The employees in the stores encourage visitors to test the products, introduce them to the features and they encourage the visitors to give their feedback.
At a more…… [Read More]
In contrast, Harley-Davidson is selling more of an experience and also a lifestyle change. For Harley, the open road and freedom is the catalyst of their unique value proposition. For Dunkin' Donuts, the trust they have created and sustain makes them a perfect choice for millions of consumers rushing to work in the morning who may have skipped breakfast at home. Harley-Davidson is all about a lifestyle change and freedom while Dunkin' Donuts has become a trusted source of excellent coffee, bakery items and excellent service.
American Express Video
After viewing the American Express video, can you identify a card that might fit your needs?
The Optima card which allows a card holder to carry a balance would be best, as the work I do has unequal payment dates. Freelance work pays irregularly so the Optima card would work best.
Also describe a credit card that you have. Is the…… [Read More]
But in a world that changes so drastically in such short periods of time and in a market filled with fierce competition and customers which change and increase their needs on daily basis, achieving customer loyalty is quite difficult; ergo, Apple's need to develop and implement better and stronger CM policies.
Current Features of Apple's CM
Given the specific nature of their businesses and the fact that after the purchase has been completed, several customers need additional services, the Apple Corporation encourages all current and potential customers to address their questions and complaints to an Apple representative. The corporate website contains detailed information on how customers can contact a service support department within both Canada and the United States.
In addition, for a specified fee, Apple customers can benefit from AppleCare, a service of extended support for the Apple products. There are large numbers of Apple customers who declare themselves…… [Read More]
Effects of CM on the Hospitality Industry
At a very strategic level, CM has made the hospitality industry much more attuned to the preferences, wants and needs of guests. It has also created a more responsive industry by capturing the needs of customers more efficiently and economically than was ever possible before. Specific areas that have changed the most include more of a focus on making multichannel strategies, from websites to Facebook, Twitter and other social networks, more responsive to the needs of the guest to provide feedback (Lim, Saldana, Saldana, Zegarra, 2011). There are also more effective analytics being used than ever before, creating greater insights into guest's patterns of purchasing not only accommodations but amenities as well (Phillips, Louvieris, 2005). CM's effect on the hospitality industry is very significant, bringing a strong customer orientation to the industry and also giving hoteliers and service providers much greater insights into…… [Read More]
VW on CM
Customer elationship Management (CM) highlights the significance of the ability of companies in managing customer relations, current and future ones (Kumar & einartz, 2012). The concept occurs as a win-win for customers and companies. Customers benefit with desirable customer service delivery. On the other hand, companies can capitalize on the opportunities in customer-company interaction to enlighten the customer on new products and services. CM occurs as the foundation of contemporary marketing strategy utilized by companies. It is crucial to pay attention to the aspect of CM as it carries benefits and demerits alike.
Lack of a proper design plan of the CM that relies on company objectives could see the company lose companies, current and prospective ones. The success of the CM depends on three elements of People, Process, and Technology. Out of the three, people occur as the most critical element. The aspect of Process describes…… [Read More]
This is significant, because it allows a particular restaurant to use this technology to improve the customer experience by: creating a unique solution that will reach out to everyone. Over the course of time, this will help them to be able to build their brand image, while being able to maintain a low cost structure in achieving these different objectives. The information for understanding how and when this applies was located through the source titled Making Customer Relationship Management Work (2001). It was found based upon the specific background reading that we were required to look at as a part of the assignment itself. ("Making Customer Relationship Management Work," 2001)
When it comes to in house CRM solutions, many large corporations that have information that they need to protect will often utilize this kind of platform. For example, a large bank will more than likely have some kind of onsite…… [Read More]
The performance of each team member depends on the performance of all others, this being a team project. Constraints include time and financial resources; as such improvement requires permanent improvement effort.
isk Management. No risk has been identified related to the project's completion.
Monitoring and Controlling Mechanisms. The data analysts will develop a metric system to measure each member's performance on a weekly basis. This weekly performance will be submitted to the project manager for potential adjustments.
V. Operations management plan
Operations Strategy. An easy way to understand the meaning of operations strategy is to break the word into the two separate words: operations and strategy - these words being the opposite of each other (Slack & Lewis, 2002). 'Operations' is about the functions and procedures regarding the day-to-day processes, while 'strategy' is about the direction and scope of an organisation over a long period of time. The operations strategy…… [Read More]
The success of salesforce.com in the CR marketplace underscores how technology specifically designed to address users' unmet needs to become more productive yet not constrained by technology is a case in point. Technology that enables higher productivity and meets needs yet does not restrict users' flexibility in managing their work how they want succeeds.
anagerial Challenges and Responsibilities for Rapid Change anagement
When rapid organizational change is attempted, managers need to confront and often deal with internal organizational cultures, which are often impediments to rapid change. For any manager involved in rapid change, the challenge of slightly modifying an organizations' culture can be daunting. For USAA, as the organization is already adopting a process-centric view of change and working to integrate systems so that employees will be better able to serve customers, the habit of change, so to speak, is beginning to set in. Yet in many organizational cultures, the…… [Read More]
As our CEO is known for being technology-savvy when he started using the new CM in pilot mode on his laptop and started giving presentations based on the analytics applications still in testing, it suddenly became commonplace for see Vice Presidents, Directors and managers all doing briefings using analytics from the new CM system. The CEO had been able to squelch negative politics by making use of the analytics data ground-breaking. Our CEO also praised people and departments he found feely sharing data to make the new CM system function more efficiently. In this regard he was using a positive reinforcement strategy to unify potentially conflicting teams (Lui, Chan, 2008). This was very effective as soon Vice Presidents sent out e-mails telling everyone to look for opportunities to collaborate with other divisions, and discuss how the data they had could help other divisions. This made the task of system analysis…… [Read More]
Customer Management Practices at AC Guy Ltd.
For services businesses that deliver highly specialized knowledge and expertise to customers, their ability to set reasonable and realistic expectations and then deliver exceptional experiences is critical to their long-term growth. The essence of customer management in services businesses including each area of the heating, ventilation and air conditioning (HVAC) industry is predicated on this concept of customer management. Concentrating on setting realistic expectations then delivering excellent experiences is the essence of excellence in customer management. Creating expectations and delivering remarkable experiences for customers in service industries gets quickly beyond technical ability to the innate sense of what really matters to customers and addressing those issues clearly, candidly and honestly (Ang, Buttle, 2009). The bottom line is that by continually delivering exceptional customer service experiences based on realistic expectations builds trust and reinforces a reputation of excellence in customer service. Trust is the…… [Read More]
This irritated the client, but the situation was the worst when he took the family on an international trip and found that their seats has been reassigned to the non-Premier areas of the aircraft with less legroom. This also happened on subsequent flights, and the client felt that he was treated like baggage. (Sturm, 2004) It has already been seen that this airline is concerned about their customers, yet the airline succeeded in irritating a customer with what the customer feels is "lack of gratitude." One is sure that what the airline staff did was according to the laws, but the client was unhappy. This is generally the result of not being able to communicate in a manner that makes clients happy. Thus methods of implementation are probably as important as the policies themselves.
Let us now look at another airline from the list. Delta Air Lines chief customer service…… [Read More]
All those nice customer-friendly marketing techniques notwithstanding, hite notes, customer-centered personalization can't work well without being linked with high-quality, high-visibility customer service.
Even some of the most successful corporations, like IBM, apparently stumbled along for a time, totally failing to "get it" when it came to customer-centric strategies. According to the industry publication Chain Store Age, in the early 1990s, a customer-centric culture "was foreign to Big Blue" - and to al-Mart - until fairly recently. The writer goes on to explain that when considering al-Mart and Target (two retail giants that are becoming "more alike than different"), "sameness" is a "trap" that happens when a company "takes its eye off the brand to focus on the numbers, loyalty goes by the wayside. It happened to Sears," the article asserts.
RESISTANCE TO CCS/CRM: In the Jossey-Bass book, Designing The Customer-Centric Organization (Galbraith 2005), the author suggests that businesses that hesitate…… [Read More]
Even customers who are satisfied with something do not always return to that specific business, especially if the business is somewhat out of the way or relatively inconvenient to get to (Jackson, Cunningham, & Cunningham, 1988).
Customer loyalty is generally thought to be achieved when a customer returns to buy something that they have bought before from the same company (Jackson, Cunningham, & Cunningham, 1988). There are many other ways to measure loyalty statistically, but it basically boils down to a customer returning to a business even though there are so many other choices available (Jackson, Cunningham, & Cunningham, 1988).
There are many ways to increase customer loyalty and it is significant to discuss some of them here (Rackham, Honey, Colbert, Fields, Hinson, Morgran, Morris, Sugden, & Tribe, 1971). One of the best ways is to meet or exceed many of the service standards that others in the industry have…… [Read More]
When comparing the theoretical wins of customers targeted with the budget upside program with its incremental cost, the difference is $1,927, which amounts to 4%. This is significantly less than the results of the frequency upside program, but nonetheless a positive value that resulted in profit. The initial investment in this program is also significantly lower than that of the frequency upside program.
Harrah's CM strategy is to focus entirely on customers and their potential behavior. It is assumed that everything Harrah's gives them has an effect upon customers' future gambling decisions. Hence, the Gold Card program is used to collect customer profiles, which in turn are used in it direct marketing efforts targeted towards customers who have shown the potential for loyalty. In this way, the programs are conducted in an integrated way to target customers who are most likely to be loyal in the future of Harrah's.
Specifically,…… [Read More]
You have been hired as a consultant by a community college to help them increase the profitability of their athletic program. Discuss the recommendations that you would make regarding the use of relationship marketing to benefit the athletic program.
The most critical aspects of any aspect of attracting, selling and serving a customer base is how consistent and positive the customer experience they have with a given brand. The role of customer relationship management is essential for any business or organization to succeed. In the case of a local community college looking to increase the profitability of their athletic program, what is most important is the continual reinforcing of the value of the experience to the present and potential donors and fans. This can be accomplished through the use of relationship marketing that seeks to create a connection with every potential and present fan and giving them a…… [Read More]
Relationship Marketing- Pepsi Cola
Customers play the most important role in determining a company's success and for this reason, great amount of attention has always been paid to attracting new customers. But in recent times, a shift has occurred and instead of only attracting new customers, companies are trying to build programs to retain old customer. This has given rise to the CRM programs or relationship marketing strategies (Pearson, 1994). customer gained is thus a consistent source of income found provided the company knows how to keep that customer coming back. In other words, firms are now beginning to realize that it is more important to retain customers than attracting new ones since it costs less to achieve the former. ttracting new customers is certainly important for enhance sales but what if a company keeps losing its old customers because of unsatisfactory service or quality. Relationship marketing is a new…… [Read More]
Managing Organizational Change
It is reasonable to suggest that companies of all types and sizes have integrated information technology systems of some sort to help them manage their businesses and achieve a competitive advantage in recent years. Because computer systems tend to become obsolete rapidly as Moore's Law continues to hold true, many companies have accumulated a mish-mash of various computer types and capabilities that may not operate efficiently in a networked environment. When these legacy systems are replaced by a standardized array of compatible computers, the transition may introduce a number of challenges and obstacles that can adversely affect the company's ability to remain agile and responsive to internal and external customer needs. To determine how the transition from an older legacy system to an improved set of computers can be achieved in an efficient fashion, the key stakeholders who are involved in the process, and the potential lessons…… [Read More]
. The mobile business market has seen significant of uptake of 2E (mobile sales-force and field service) solutions and Microsoft has the chance to develop its offerings around its acquisitions, adding mobile functionality. Microsoft partners with many application vendors across the board and moving too heavily into the application space would incense many. However, there is viability in developing a mid-market mobile application proposition, given the unconsolidated nature of offerings from operators, traditional ISVs, start-ups and mobile middleware players.
In the device OS market, as at desktop level and in the server-room, Linux clearly represents a threat to Microsoft, and one it expends much energy playing down. Although there has been little uptake of Linux to date specifically as an operating system for multimedia cell phones, there are many who are not keen to implement end-to-end Microsoft solutions. Linux will give these companies added freedom in choosing applications, middleware…… [Read More]
Tesco, the largest UK company, employs 260,000 people. This corporation has global aspirations and has come a long way in a relatively short period of time" (2003, p. 3).
According to the company's promotional literature, the employment figure for 2003 has almost doubled today, as shown in Table 1 below.
Current Key Figures for Tesco
Staff in the UK
Total stores in the UK
Number of markets
China, Czech Republic, Hungary, India, Japan, Malaysia, Poland, Republic of Ireland, Slovakia, South Korea, Thailand, Turkey, UK, USA
Note: Facts correct October 2010
Source: Tesco Quick Facts 2010
Figure 1. Respective Number of Tesco Retail Formats in the U.K.
Source: Based on tabular data in Tesco Quick Facts 2010
A brief summary of the company's guiding corporate strategy is provided in…… [Read More]
The real estate concept is very different in Great Britain. It consists of a system of bidding and auction. Still this obstacle did not stop Countrywide's management from seeing a wave of change. Many other companies had already seen Great Britain as an entry point into the rest of Europe. These success stories are Safeway, al-Mart and Pizza Hut to name a few. The means to acquiring a ready-made company within Great Britain was the next step. At this point, it was understood that independently opening a Countrywide branch there would be too risky. The strategy was to acquire or create a joint venture with a company that already existed where Countrywide could slowly take over meanwhile slowly introducing that workforce to American mortgage knowledge and skills (Globalhomeloans.com, 2005). The irony in this situation is that Countrywide may have been cocky. After all, the situation is very favorable and almost…… [Read More]
Building Streamlined Supplier elationships Within the Organisation Using SAP
Organisations are continually recognising the benefits of enterprise resource planning systems (EPs) to streamline business processes. EP systems typically address an organisations logistical, distribution, routine shipping and inventory needs. An SM system typically addresses an organisations supply chain management system, which includes reducing costs, managing organizational performance, overseeing production centres and transportation planning. SM's help integrate critical business processes from the supplier to the enterprise. The supplier provides the organisation with products and services as well as information vital to the organisations well being.
Companies are continually recognising the benefits of enterprise resource planning systems and SM to streamline business processes. Multiple vendors currently offer EP systems that are helping transform business processes by integrating materials resource planning with other key business practices including those of accounting, human resources, marketing and materials management.
SAP is an SM product that…… [Read More]
management styles used by JC Penney's management and pros and cons of each era of management. The paper begins with a general introduction of the management and then by answering the questions asked. The paper also evaluates company's management styles and problems faced by the company. Importance of innovative management style and a suitable style for JC Penney is also considered in the given paper.
Penney being one of the 'largest retailers in the United States of America' was founded in the year 1902 by James Cash Penney. At its inception the company owned three departmental stores. The company now owns and operates a chain of more than 1050 department stores in the country. (Hoover's Company Profile, 2014) Throughout the period of more than a century of its operations the company has witnessed many changes in management and operations, all directed at making the company and its stores widely…… [Read More]
2 of the respondents were self-employed and 11.2% of respondent were white-collar workers with 1.2% of respondents being blue-collar workers. The following chart shows the factor analysis results with VARIMAX rotation of traveler's perceptions of hotel attributes in the study of Choi and Chu (2000).
Factor Analysis Results with VARIMAX Rotation of Traveler's Perceptions of Hotel Attributes
Source: Choi and Chu (2000)
The following chart shows a 'regression analysis results of hotel factors according to Asian and Western travellers overall satisfaction levels.
Regression Analysis Results of Hotel Factors According to Asian and Western Travelers Overall Satisfaction Levels
Source: Choi and Chu (2000)
2.3.1 Definition of customer loyalty
Kandampully and Suhartanto (2000) define a loyal customer as "a customer who purchases from the same service provider whenever possible, and who continues to recommend or maintain a positive attitude toward the service provider" (p. 346).
2.3.2 Loyalty dimensions
There is…… [Read More]
The employees should be firmly committed to the firm, they are the face of a firm (also its eyes and ears). The staff focus should be involved in the process management, also their measurement and knowledge as well as initial contact with customers, all contribute to the performance of the organization.
Firms need to provide results on a consistent basis, be innovative and should respond quickly to any changes in environment for giving exceptional results and satisfying customers. Further in continuous improvement, aspects such as redesign of processes or services, upgraded technology systems, proper paperwork should be focused upon. Continuous improvement requires all firms' members to look for opportunities to improve. Overall, the continuous improvement process involves customers, leadership, employees and quality. It is the customers who determine if the firm is providing quality. They are the judges of it. The leadership is useful for setting direction of the firm.…… [Read More]
anking and financial services includes such firms as investment banks, commercial banks, brokerage firms, and credit card institutions. The common it pulse throughout the daily operations of these organizations involves utilizing systems to communicate between branches and subsidiaries, establishing operations throughout the world, communicating with the end customer in order to facilitate transactions, and analyzing customer and market attributes in order to reduce uncertainties in such aspects as pricing policies" (p. 24). Some of the more salient issues affecting the financial services industry today are described further in Table ____ below.
Examples of utilization of information technology in order to enhance efficiency and productivity by the financial services industry.
Description of Impact
Credit card institutions store, retrieve, and analyze vast amounts of demographic customer information enabling them to more accurately target potential markets for new products and also identify less-attractive, credit-risk customers.
This allows them to…… [Read More]
In short, Microsoft has been successful in relationship marketing in their core businesses in addition to sustaining momentum in the global application and software development community. The company has struggled however in its effort to use relationship marketing in the areas of Internet-based advertising models, sales of enterprise server components and applications including Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) and Supply Chain Management (SCM). These are all enterprise software areas that require an inordinate amount of trust and continual relationship building to be successful. In these areas Microsoft is challenged. Add to this the fact that Microsoft's channel strategy has at times been contradictory, and there is ample evidence of the company not being trusted in many reseller and indirect channels globally.
Microsoft's success with developers and the willingness to openly collaborate with them in the creation of entirely new applications underscore what researchers have found to…… [Read More]
Much marketing research has been done on analysing customer behaviour and retention. As a consequence, it is crucial for online companies to create a loyal customer base, as well as to monitor the profitability of each segment (Reinartz and Kumar, 2002)
Definition of customer e-loyalty
Customer loyalty has been defined as "a deeply held commitment to re-buy or re-patronize a preferred product/service consistently in the future, thereby causing repetitive same-brand or same brand-set purchasing, despite situational influences and marketing efforts having the potential to cause switching behaviour" (Oliver, 1999). This general definition appears to apply to e-loyalty as well. Another briefer and more specific definition is provided by Anderson and Srinivasan (2003), who define e-loyalty as "the customer's favourable attitude toward an electronic business, resulting in repeat purchasing behaviour" (p. ____).
Since it is considered difficult to gain loyal customers on the internet without directly contact (Gommans et al., 2001),…… [Read More]
Amazon is the largest internet-based company in America with headquarters located in Washington and Seattle in the United States. The company was founded in 1995 by Jeffrey Bezos and it started as online bookstores then diversified to selling videos, CDs, MP3 and DVDs. Today, Amazon offers about 4.7 million books, computer games, DVD and a wide variety of items of all kids. Ever since Bezos opened the doors of Amazon, online retailing has been defined and redefined for the rest of the Internet retail worldwide, and today it offers the customers a superior shopping experience through the provision of a high level of customer service. This research paper will discuss the impact of the Amazon's mission, vision and primary stakeholders' overall success, while analyzing different forces of competition and how they impact the business of the company. SWOT analysis will also be performed to determine the strengths, weaknesses, opportunities and…… [Read More]
Profitable Customer Relationships
Until about two years ago I was a long-suffering customer of Sprint. During the time I subscribed to their service, there just always seemed to be a problem that needed resolution: Billing disputes over services I didn't subscribe to. Dropped calls even though I lived within their alleged coverage area. Expensive calling plans. Customer service people who weren't empowered to tie their shoelaces. I could not wait for my contract to expire so I could switch to another cell phone carrier and be abused by them instead.
So in preparation for writing this paper, I googled cell phone customer satisfaction surveys, and which company is right there at the top? None other than Sprint. For a moment I thought I must have misspelled Sprint. S-P-R-I-N-T. But no, there they were. Just to be sure I wasn't hallucinating, I looked at older surveys, and there was the aha…… [Read More]
I think it is very important to create and maintain profitable customer relationships for any business, no matter how large or small. Some companies seem to think they have a monopoly on goods or service, and so they do not have to offer good customer service. I think in the end, no matter what the product is, companies who do not truly respect their customers will not last. People want to be treated decently, with respect, and as if their patronage matters, no matter who they are or what their needs are. Creating profitable customer relationships recognizes these needs, and is a win-win situation for any organization. Big organizations such as McDonald's or Home Depot (just as an example), often seem to have grown so big they forget this, and so people become "things" when they deal with them. I think that is wrong, and I will attempt to avoid…… [Read More]
We shall, for the purposes of this paper, accept the proposition that we are moving from a culture that can be categorized as "you get what I give" to one where the customer is always right. In the real world, there are companies that do either, depending on their business model. But for the sake of argument we will assume the position of a company that is seeking to shift from the former to a more customer-centric vision of customer service. There are two elements to such a shift -- operational and cultural. Operations can be laid out in such a way that barriers to customer service that may have existed in the past are now removed, for example. Yet, because service is inherently customer-oriented, based on interactions, it is critical that the organization shifts to a customer-service-based culture. This is a massive cultural shift from an organizational…… [Read More]
Relationship Marketing and Its Impact on Consumer Behavior
Research Questions & Sub-questions
Research Design & Methodology
Organization of Study
his report explores Customer Relationship management. In [articular the investigation seeks to understand the impact of relationship Marketing and Its Impact on Consumer Behavior. his issue has proven problematic for businesses because many do not have the ability to form effective relationships with customers. his deficiency costs companies customers and profits. he report sought to present effective ways to better customer relations at the business level. More specifically, the investigation saught to determine how businesses can determine what their customers really need and how will meeting these needs affect the customers' behavior? A review of the literature suggest the customers are effected by the attitudes of employees that they come into contact with. he attitude of a saleclerk can often have an impact on a customers decision to do…… [Read More]
Technology Strategies Anticipated to Accomplish Business Goals
GE Lighting Division's expectations for SharePoint were not realized, and as a result, the division moved to adopt a globally-based Partner elationship Management (PM) system that includes integration to both reseller order capture and distributed order management systems so that all channel partners could place orders and track them through manufacturing to fulfillment. GE Lightings' channel management had found that through discussions with resellers that of all applications designed for the five objectives, having a coordinated order capture and order management system was critical. Second, the objective of managing pricing both in terms of quotes and handling pricing exceptions was accomplished through the development of a Special Pricing equest application. As Columbus (2003) has stated, the automating of special pricing requests is one of the highest OI activities for a channel organization to pursue. Third, the automation of lead generation and escalation in…… [Read More]
Assessing the Many Management Challenges George Faces
Having stepped into Stevenson Company transportation department as its new supervisor, George is quickly overwhelmed by a department in disarray, chaotically operating without any leadership or guidance. The major management issues George faces is predicated on the lack of clarity regarding roles, authority and organization structure and clarity of performance expectations. In short, the management issues George faces are what happens when senior management abdicates leadership of a given area of a business, allowing personal agendas and resentment to ester instead of implementing clear performance expectations. The lack of willingness to change and improve is more attributable the managers of dysfunctional teams than the teams themselves (James, Wooten, Dushek, 2011).
The first and most significant management issue is getting the transportation department integrated back into the company. The many symptoms of its malaise and dysfunctional nature can be attributed to its lack…… [Read More]
The Manager's Basic esponsibility
It has been said that the manager's most basic responsibility is to focus people toward performance of work activities to achieve desired outcomes. Is this a true statement? Certainly, it describes part of the manager's role and that part of the manager's role is a significant one. However, focusing people towards the performance of work activities is only part of the manager's role and may not be the most crucial part. A manager might have other responsibilities that are more basic and more essential to their role. At the same time, this description of the manager's role may actually undermine the manager's ability to perform their job effectively. These issues will now be considered further.
Management is defined as "the attainment of organisational goals in an effective and efficient manner through planning, organising, leading, and controlling organisational resources" (Daft 1997, p. 8). This definition includes…… [Read More]
I will address the group with a general overview of the problems the company is facing, with the assertion that I believe it can be rectified. I will ask each employee to work together for the good of the company and its survival in the e-business world. The purpose of the conference will then be to involve every employee in restructuring the company in a more effective way.
To achieve this, I would divide the employees into smaller groups of 10 members or so each. The first issue to address is the vision, mission and goals. Each group will be asked to come up with suggestions. The second step will be to identify the various actions to reach the goals, and the third step will be to more effectively restructure the company. For the latter, the groups will be provided with a list of the divisions within the company. They…… [Read More]