Abstract This paper discusses different recommendations for Customer Resource Management (CRM) systems to be used by Kucera Clothiers in their implementation of a CRM (Customer Resource Management) System . The author points out that Kucera Clothiers desires to improve service to customers by tracking customer purchases at both the brick and mortar stores and online. The paper relates that a CRM system provides seamless access to customer's information and the ability to leverage this information quickly for trends and analyses while working with customers.
From the Paper "The recommendation made is for the implementation of a CRM (Customer Resource Management) System to improve service to customers by tracking customer purchases at both the brick and mortar stores and online. Customer Resource Management (CRM) systems provide seamless access to customer's information, ability to leverage this information quickly for trends and analyses while working with customers, and well organized information that is retrievable from multiple access points. However, CRM systems often require an organizational wide implementation, which may replace already proven systems, would require substantial installation time for mapping existing data, and significant training time for all employees. Different forms of CRM are also possible, in part depending on the type of information to be gathered and tracked. Kucera Clothiers has more than 3,500 locations and 100,000 employees throughout the world, selling both in brick-and-mortar stores and through a website for online sales."
Abstract This paper evaluate three CRM (Customer Resource Management) business solutions: Dashboard Customer Service and CRM system from Iventa, a wireless system from PeopleSoft and a new CRM system from Teradata. The author selects the best technology and explains why it is better than the other two. The paper relates that they are compared in terms of features, capabilities, costs, return on investment and other dimensions
From the Paper "Three CRM (Customer Resource Management) systems have been recommended to Kucera Clothier, and now the three need to be analyzed for features, costs, and limitations. The three are offered by different companies, one the Dashboard Customer Service and CRM system from Iventa, a second a wireless system from PeopleSoft, and the third a new CRM system from Teradata. The Dashboard's Customer Service and CRM system is advertised as "a completely integrated and automated way to provide your visitors, customers, subscribers and/or members world-class service in a low cost, highly efficient manner. Automatically track all interaction your customer has with your website and your support personnel. Empower your customers to help themselves by providing access to edit information, view order status and tracking data, view customer service requests and responses, renew or upgrade memberships, and search your own knowledge base and FAQ's."
Abstract The writer of this paper defines CRM as customer relationship management, which is an information industry phrase for methodologies, software and internet facilities that assist an enterprise in handling customer relationships in a structured way. This paper details the uses and effectiveness of the CRM enterprise software system, which when installed correctly aids large companies in all areas concerning customer service. CRM is a business tactic centered on the idea of being customer-centric. This paper examines the main aim of CRM which is to achieve maximum revenue through better customer fulfillment while at the same time enhancing connections at each customer touch point. This paper also discusses the various types of CRM programs as well as their relevant components.
Table of Contents:
Executive Summary
Introduction
Definition of CRM Component of CRM Types of CRM Benefit and Issues of CRM Conclusion
References
From the Paper "The Contact Center is a vital constituent of an efficient CRM strategy as primary sales, service and retention level for many companies. (Definitions of CRM on the Web) A significant move in applying a CRM solution is to assess all of the procedures within a company. During this assessment, a company will understand that documents play a major role in some of those processes. A quick glance at the financial department of any company will confirm the previous statement to be true. When a company identifies critical documents, it has to work out how its new CRM system will manage them. It's at this instant that the company will recognize the significance of incorporating a document management solution with its selected CRM system."
Abstract This paper examines two management concepts called revenue management (RM) and customer relationship management (CRM) that are increasingly used in the hotel and hospitality industry, where competition is most severe and cutthroat. The author evaluates the appropriateness of a RM model and CRM system for the profitability of the relatively small Queen's Hotel at the British Isle of Wight, which is not part of a chain. The paper explains that software is available to support each system. The author concludes by recommending the viability of RM and CRM for the hotel.
Table of Contents:
Introduction
Queen's Hotel
RM & CRM Critique
RM Package
CRM System
Recommendation
From the Paper "The RM model at Queen's Hotel intends to optimize pricing for its room by considering variability over time and capacity constraints. This is run on Excel spreadsheet whose task is precisely to price hotel rooms and set capacities for various room classes. Operated on three phases, the RM model starts by setting the classes of rooms, identifying prices and expected demand as well as the demand elasticity for each class. Elasticity here refers to the percentage increase in demand with a 1 percent increase in prices."
Tags: ties, yield management, price optimization, guests, data collection
This paper explores whether the current profile of customer relationship management (CRM) deployment across industry has been effective and what, if any, future relevance CRM will have in these industries.
Abstract This paper explains that customer relationship management CRM allows organizations to develop a closer relationship with customers and to monetize the data and information, which would normally lay dormant within untouched massive databases. The author points out that CRM has become a business differentiator and especially has become relevant for e-commerce applications that find a ready infrastructure in which to be integrated. The paper suggests that the single most prevalent reason for the failure of CRM to deliver on expected returns is an organization that focuses too much on the data analysis function and loses sight of the actual customer transactions that are the most important part of the business process.
Table of Contents:
Research Hypothesis
Introduction
Technology Background
Historical
Technology
How It Functions
Suppliers
Consumers
Application of the Technology
Organizational Use
Applications
Strengths
Weaknesses
Success
Failure
Future Trends
The Future
Forces of Change
Conclusions
From the Paper "Retail banking has taken a leading role in deploying e-commerce and e-business functionality in relation to its CRM initiatives. On-line banking has become a fact of life and hardly any commercial and consumer banking institution would consider going to market without these services integrated into its CRM portfolio." . Retail banking institutions have mastered the art of on-line bill paying, transfers, deposits, and account management to the degree that many customers simply do not feel the need or the desire to visit the bank."
Abstract This paper is an in-depth analysis of the advent of electronic customer relations management (e-CRM). It looks at the early developments in the field, how this has expanded, paying particular attention to the hotel industry. It looks at both the pluses and minuses of the e-CRM system, and some of the different types of software that are available. It also looks at which areas of the hotel industry e-CRM has had the most impact.
From the Paper "The Internet Age has created an environment in which the needs of the individual are of paramount importance: Not only has the accessibility of the Internet created conditions in which customers have access to service and products over a 24-hour period, this type of environment has also affected the perceptions of the individual in terms of external customer service relations. At a general level, the introduction of the Internet created an environment in which the consumer was able to get increased customer care and was able to research products and product development. This in turn increased customer awareness, which finally affected their purchasing decisions."
Abstract The following research examines the customer relationship management (CRM) software environment vis-a-vis the airline industry and in particular British Airways (BA). After a brief recap of the airline industry currently and the history of the airlines general migration to CRM applications as a response to market events such as 9/11, a particular CRM related solution is proposed that can be integrated into current technologies.The paper examines the development of an individualized customer media center that incorporates many of the extant functional technologies into a customizable web-space that each consumer is awarded after a certain amount of frequent flier miles.
Abstract This paper examines how, in the article, "Avoid the Four Perils of CRM" , authors Darrell K. Rigby, Frederick F. Reichheld and Phil Schefter provide insightful analysis and guidance from their collective experience advising companies on how to augment their marketing, selling and service strategies more effectively using customer relationship management (CRM) software. It looks at how the authors collectively concur that the need for companies to first define their strategies and the processes required to accomplish their goals is the first step to effectively layering in CRM as an IT investment.
From the Paper "The four perils the authors mention include implementing CRM before creating a customer strategy, rolling out CRM before changing your organization to match, assuming the more CRM technology the better, and stalking, not wooing your customers. These four perils all either directly or indirectly relate to change management, a key lesson the authors expand upon in their examples of how CRM implementations can typically fail. An excellent insight from the article is that the mere automating of customer-facing processes does not guarantee success of a strategy; in fact this is another point of failure. "
This paper presents a research proposal to investigate the idea that best customer relationship management (CRM) practice keeps airlines afloat against a turbulent business environment.
Abstract This paper presents a thesis proposal that will examine the increasing use of customer relationship management (CRM) in the airline industry, which is currently beleaguered by soaring oil prices, rising global inflation and interest rates, instability in currency exchange rates and the overall slowdown of the global economy. The paper relates that the primary objective of the thesis is to determine if CRM practice is really the breakthrough management technique that can help solidify the financial position of an airline, which is considered one of the hardest businesses to manage. The writer proposes that this should be done through the case study approach, by conducting a relevant survey and interviews with airlines that have successfully weathered the ongoing fuel crisis and global uncertainties. Two successful companies are proposed as case study samples for the survey and extensive person-to-person interviews, namely, Southwest Airlines and American Airlines. The writer concludes that the research aims to uncover from the CRM perspective how airlines succeed in delivering superior and convenient travel experience to forge a long-term relationship with customers.
Outline:
Introduction
Main Question
2 Sub-questions
Literature Review
Proposed Methodology
Reflections
Conclusion
From the Paper "Whilst one airline after another goes out of business or on the edge of bankruptcy, a handful of airlines continue to operate profitably as if no crisis assails the industry at all. The most prominent of these successful airlines are Southwest Airlines, Cathay Pacific, Singapore Airlines, American Airlines and EasyJet. These airlines are deemed successful not only in terms of revenues and passengers enplaned but also in terms of ratings for customer satisfaction. Southwest Airlines, for example, was recently honored by the US Department of Transportation for having the least number of complaints received from customers. It is interesting to see what management and operational strategies do these airlines employ to insulate their companies against the current economic crisis as well as the instabilities common to the industry, which can be highly instructive to both practitioners and students of management and marketing."
Abstract This paper explains that, while the traditional 4Ps of marketing capture the essential functional areas required to create a marketing strategy and plan, it does not provide a framework for defining and measuring lifetime customer value. The paper then presents the 4Cs--customer value, lower costs, better convenience and better communication--that support the marketing paradigm shift, which places prime value on maximizing customer loyalty over the long-term through customer relations management (CRM). The paper relates the ways that a CRM system can create a value-add on for the dealer while being a means of aligning unmet customer needs for the manufacture.
Table of Contents:
From the 4 P's to the 4 C's: Customer Value, Lower Costs, Better Convenience, And Better Communication.
CRM Applied to a Computer Chips Manufacturer/Dealer Conflict
From the Paper "Costs also are part of the unique value proposition of companies who operate in highly commoditized industries as well. Better convenience is a direct result of the use of the Internet for streamlining supply chains and making products and services more accessible on the one hand, and the increasing time pressures consumers are under continually on the other. Convenience became critical when the majority of married couples had both spouses working in either part-time and full-time jobs."
Abstract This paper provides a research study that aims to illustrate to institutions of higher learning how much they stand to gain from investing in customer relationship management (CRM) systems. The paper's study provides evidence that CRM systems help to retain existing customers and recruit new ones as well as cut on costs, thereby improving institutions' profitability. The study includes a literature review and a discussion on the procedures, methods and samples used in the study, and the major limitations faced during the study. The study also points out that organizations need to be cautious in the acquisition of CRM systems, since it is possible to lose customers if the system does not work as expected.
Table of Contents:
Executive Summary
Chapter 1 - Introduction/Background
Chapter 2 - Literature Review
Chapter 3 - Methodology
Chapter 4 - Results
Chapter 5 - Discussion and Implications
Conclusions
From the Paper "Customer Relationship Management (CRM) focuses on customer retention through development of sustainable relationships. Establishment of these relationships is based on customer satisfaction and an organisation's ability to sustain high standards that identify them from competitors. CRM is also concerned with attracting new customers. In order to ensure customer satisfaction, there is need to understand customer requirements through studies which is essentially the function of CRM. Evolution of information technology has given rise to CRM systems which make this function even easier so that long-term profitability resulting from customer loyalty and cost cutting is realized. The use of these systems has proved invaluable so that higher education institutions are highly being encouraged to make use of them in order to enhance their ability to retain existing customers and attract new customers."
Abstract This paper discusses the CRM system produced by Oracle and how it can help every company with their customer service problems. It examines the ideal CRM architecture and how Oracle provides it. It details the basic features and products provided by Oracle's products. It also discusses the integration of Enterprise Resource Planning systems and Customer Relationship Management systems. It concludes by recommending Oracle's 360 degree solution to any company whose customers are important.
From the Paper "As companies accelerate their customer relationship management initiatives they are faced with new issues and challenges that are not easily answered. Customer relationship management presents one of the biggest opportunities facing CIO's and business line managers today - the ability to grow incremental revenue through existing customers. This requires a system that fully leverages ERP in the back end. Oracle's integrated architecture provides an ideal CRM solution for the large installed base of customers who have already implemented Oracle ERP applications. Oracle's customer relationship management applications leverage Oracle database, tools and integration with back-end ERP applications to provide comprehensive customer intelligence. The integrated solution provides a 360-degree view of all customer interactions, whether they occur through direct sales contact, and customer access over the web, through a call center or indirectly through partner channels."
Abstract This paper provides a summary of the project to implement a CRM (Customer Resource Management) system for Kucera Clothiers. The writer explains that this project would install the Dashboard Customer Service and CRM System from Iventa, which links the brick-and-mortar stores and the online sales in an IT system that keeps track of customer information. The writer further notes that this system allows for ordering and keeps track of deliveries and inventory.
From the Paper "The problem is faced by Kucera Clothiers, a retail clothing store with more than 3,500 locations and 100,000 employees throughout the world. In addition to these brick-and-mortar locations, the company now has a website which produces over $5 million in sales per year. The core business of the company is found in its focus on the latest trends in fashion to men, women, teens, and children, and the company sells using two brands catering to different customer bases, with one brand for the money-conscious consumer, emphasizing quality clothing at an affordable price, while the second is a higher-end brand for customers who want the highest quality clothing and the latest fashion trends without much concern for cost."
Abstract This paper discusses customer relationship management (CRM) across industry in general. The historical development within the call center environment is first examined and then its adoption by other industries in order to capitalize more effectively on customer data is examined. The paper concludes that data and data management is increasingly at the core of CRM functionality.
Table of Contents:
Executive Summary
Overview
High-Level Description
Business Strategies
Users of the Systems
Detailed Description
Applications
Success
Failure
Conclusion
From the Paper "The consumers of CRM applications and technology are primarily larger firms with more than 500 employees and typically operating in more than one market. The popularity and ease of installation of many lesser known CRM applications has meant that almost any firm of any size can install and apply CRM to one degree or another with the only primary difference between them and larger companies being the degree of integration achieved across platforms and across the organization."
Tags: customization applications functionalities, call center, data mining
Abstract The paper focuses on situation awareness, communication skills, teamwork, task allocation and decision-making based upon a comprehensive knowledge of standard operating procedures upon which crew resource management (CRM) is based. The paper points out that, because of the human factor in flying, CRM training often includes error management too. The paper therefore shows how crew resource management implies a non-judgmental environment in the cockpit that eliminates clashes of ego that are based on power hierarchies.
From the Paper "Crew resource management reflects basic principles of human communications but applied directly within the unique cockpit environment. Cockpit mismanagement and conflict are major culprits in aviation accidents: "failures of interpersonal communications, decision making, and leadership" are responsible for most errors (Helmreich, Merritt, & Wilhelm 1999). Interpersonal strife, miscommunication, and errors in judgment are some of the areas crew resource management can address. A National Aeronautics and Space Administration (NASA) workshop introduced the importance of crew resource management (CRM) in 1979 and since then CRM has helped avert a "significant" number of aviation accidents (American Psychological Association, 2004). The Federal Aviation Administration (FAA 2004) calls CRM an "integral part of training and operations.""
