Customer Management Name: Tutor: Course: Institution: Date: Customer Management 1. Detail the reasons for conducting a CRM capability assessment? i. Increasing Benefits through CRM Capability Assessment According to Woodcock (2005, 270), companies are demanding effective tools, which are utilized in storing growing store of customer data in CRM systems…
For instance, CRM vendors are integrating functions of business intelligence via internal product enhancement; in fact, this process is involving seeking support from third parties. In this case assessment of CRM capability is considered as a way of bolting on analytics to operational CRM in order to create work for enterprises. In situations, where CRM customers are involved capability assessment becomes indispensable due to identification if crucial word that would drive vendor features set. There are situations where integration trend in the CRM systems that may render business-intelligence vendors unnecessary; thus, there is need for CRM capability assessment. Moreover, this serves as a way of identifying new opportunities for enterprises to identify substantial ROI from the costly implementation of CRM systems (Woodcock, 2005, 270). Therefore, this assessment enables the organization to identify things that are missing and determining whether capability is still turning data into insights that surpass technology enhancements. CRM capability assessment is also undertaken due to increasing variety of companies, who are concentrating on one or more aspects of analytical CRM. These aspects include clarity in identification of customer preferences, perceptions and opinions. Information gathered during this assessment is fed into critical processes within the entire CRM for increased improvements (Woodcock, 2005, 270). CMR capabilities assessment has enables realization of the contribution made by technological advancement into CRM systems (Woodcock, 2005, 220). In this case, it is affiliating the process of ensuring that CRM systems are meeting firms' requirements. Therefore, CMR capabilities assessment can be regarded as a way facilitating effectiveness of CRM systems, thereby leading to better performance of the business (Woodcock, 2005, 138). Consequentially, this can lead to maximization of profitability in the short term; in fact, this enables identification of growth opportunities and building competitive advantages (Woodcock, 2005, 138). Therefore, CRM capability assessment is regarded as a way of applying strategies that maximize shareholders value by identifying and eliminating short term strategies that destroy assets and failing to capitalize on the companies' core capabilities (Woodcock, 2005, 138). ii. Reducing Risk through CRM Capability Assessment Companies have been subjected to serious attacks from customers due to issues concerning relationship and their way of doing business (Woodcock, 2005, 409). These attacks involves attempts by employees to get involved in activities such as fraud, money laundering, illegal trading and exploitation of loopholes in credit or insurance products. In this case, CRM capability assessment involves use of technology advancement in order to ensure that companies are facing fewer chances for face-to-face for processes such as validation of identities and determining credit worthiness(Woodcock, 2005, 409). Besides, perpetrators of illegal activities in businesses are likely to work in teams through the internet and model telephony for communication in ways that are difficult for authorities to indentify. Therefore, capability assessment of CRM is utilized as a way of bridging this security ...
Cite this document
(“Customer Management Essay Example | Topics and Well Written Essays - 2000 words”, n.d.)
Retrieved from https://studentshare.net/marketing/100307-customer-management
(Customer Management Essay Example | Topics and Well Written Essays - 2000 Words)
“Customer Management Essay Example | Topics and Well Written Essays - 2000 Words”, n.d. https://studentshare.net/marketing/100307-customer-management.
It is for this reason perhaps that the saying came about that the most important person to the survival of a company is the customer. This could not be any well said because in the absence of customers, banks, hospitals, schools, restaurants, stadia and even churches only remain pieces of architectural works that are not in any way productive.
The paper tells that customer relationship management is important to a business enterprise. It consists of a chronological view and breakdown of existing and possible customers. This assists in reduced comparing and searching customers, and to anticipate customer requirements effectively and boost business.
This paper illustrates that customer relationship management is concerned with sales but also includes other functions of a company, such as marketing and customer service. The whole purpose is to facilitate the buying or selling experience for a client. They aim at attracting prospects and sustain close interactions with the existing customers.
The discussion seeks to answer the question: How can a company use new technologies and IDIC task to build a Learning Relationship not possible before e-commerce? How should that chart be changed in order to facilitate customer management and to make sure people are evaluated, measured, and compensated for building the value of the customer base?
6Changes to Operational Procedures 5 7.Operational Scenarios 5 7.1Scenario #1 5 7.2Scenario #2 5 7.3Scenario X 5 1.Bergeron, B., 2002. Essentials of CRM: A Guide to Customer Relationship Management. NewYork: John Wiley & Sons. 11 Concept of Operations 1. Introduction 1.1 Purpose of this document 1.2 Scope of this document 1.3 Definitions, Acronyms, and Abbreviations 1.4 References 2.
Customer Relationship Management (CRM) is one such tool that integrates technologies and business processes to satisfy the needs of the customer. CRM has been defined as an interactive process that achieves an optimum balance between corporate investments and the satisfaction of customer needs to generate the maximum profit
According to the research, management is a very important part of the good customer relationship. If an organization wishes to do this, it needs to organize itself around the concept through successful management. If an organization is going to shift its focus to customer relationship, it will need to make customer relationship the most important aspect of the company.
stomers, and it is limited to activities taking place in the customer facing functions such as marketing customer service, and sales among others (Kincaid 2003, p.42). In most cases, CRM software is used to control lead information, marketing campaigns and market participation,
Over the years, CRM has developed to become one of the most influential organizational concepts and customer relationship theories in the last fifty years, providing organisations with a way of managing their associations with customers for mutual benefit (Agariya and Singh, 2013).
The idea of keeping old customers and turning newly acquired customers into loyal buyers is highly important. Customer retention is the name of the game and the better one is at it, the more profitable it is.
13 Pages(3250 words)Research Paper
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic Customer Management for FREE!