Abstract This paper discusses customerrelationshipmanagement (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
This paper explores whether the current profile of customerrelationshipmanagement (CRM) deployment across industry has been effective and what, if any, future relevance CRM will have in these industries.
Abstract This paper explains that customerrelationshipmanagementCRM 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 The following research examines the customerrelationshipmanagement (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 The paper focuses on the declining trend in its customer satisfaction metrics within Wal-Mart's retail locations. The paper examines how a customerrelationshipmanagement (CRM) initiative can reverse this. The paper shows how, for Wal-Mart, its CRM strategy must be anchored with an emphasis on personnel driven CRM solutions within the store, since its IT infrastructure and related CRM technology platforms are already industry leading applications. The paper explains how Wal-Mart can create a personal relationship with its customers and the closest retail location to those customers.
Outline:
Overview
CRM in Detail
An Example of CRM at Work
CRM's E-Commerce Solutions
Emergent Models
Conclusion
From the Paper "CRM strategies have been in existence since commerce became a human endeavour and companies have historically always sought to satisfy their customers. Often an organization's CRM strategy is nothing more than a business owner's attempt to build a relationship with the organization's customers and this aspect still rests with executive leadership today (De Koning & Maravanyika). However, in the contemporary retail business environment CRM has been appropriated by IT applications and products designed to automate CRM efforts. Companies are rushing to automate and better manage their methods in which they have traditionally dealt with customers, including people who might not be considered customers yet, as well as develop completely new concepts in managing the customer from a service perspective. CRM applications incorporate the business functions of marketing materials, developing and maintaining customer histories, and coordinating a company's multi-faceted approach to interactions with customers."
Abstract The paper considers the viewpoint that customerrelationshipmanagement (CRM) systems are too expensive to implement and cannot provide solutions to customer problems. The paper, however, focuses on companies who use CRM systems very effectively and discusses how CRM systems allow companies to anticipate customers' behaviors, implement technologies in the company ,and maintain good relationships between customers and suppliers. The paper is of the opinion that the CRM system can produce genuine value by meeting the requirements of the system and enhancing the relationships between consumers and vendors.
From the Paper "Each business organization depends on an understanding between customers and suppliers, which creates and maintains customer satisfaction. In addition, all business suppliers communicate with their customers in different ways using different technologies. This affects one company's ability to be more successful than another company. Web and computer technologies today enhance a company's ability to maintain customer satisfaction and develop good relationships with its customers to be effective in their businesses (Jessup & Valacich 2008, 329). Jessup and Valacich (2008, 329) define Customer Relationships Management (CRM) as the strategic plan of information, processes, procedures and technology to manage the customer's relationships with the suppliers. CRM can be classified into three main levels according to Buttle (2004, 4-5, 9): these are Strategic CRM, Operational CRM and Analytical CRM."
Abstract This paper aims to answer the questions surrounding the use of CustomerRelationshipManagement (CRM) in Small and Mid-size Enterprises (SMEs). This paper examines the business case, issues, pitfalls, and recommendations for future success. This study focuses CRM in the United Kingdom's SMEs, particularly those in the manufacturing industry, from both a business and consumer point of view. The literature on relationship marketing, customerrelationshipmanagement, customer loyalty, and customer satisfaction sets the framework for this evaluation. Primary research conducted with small and medium-size manufacturers and vendors undertaken in supports the in-depth evaluation of this topic.
From the Paper "Customers today have more options and higher expectations. Their loyalty is more fragile and if they are not treated the way they deserve to be treated (they now consider fair, honest and respectful treatment as a right and not a privilege) they go somewhere else. There is so much information, choice, and change that it is hard to get their attention. The web, email and other electronic channels (e.g. call centers) have made it a much easier for customers to get information that was very scarce just a few years ago. This has made the customer better informed, more discriminating and more powerful."
Abstract This paper aims to decide on the best software to use for a customerrelationshipmanagement (CRM) program. It first looks at the benefits and uses of a CRM program. It then examines and judges the software that is offered by various companies. After considering various systems, the paper concludes that the Dashboard Customer Service and CRM system from Iventa is seen as the best for a particular size company.
From the Paper "Kopf (2000) notes how CRM can fail when a company believes that it can serve customers more effectively but does not have the tools, the skills, and the expertise to make a CRM system work. Failure may come with inadequate staffing, poor site location, or the wrong technology. In addition, there is often confusion surrounding CRM so that many companies are reluctant to take the steps necessary."
"Jones (2000) cites a successful implementation and notes that customer service can be assured and give a company a competitive advantage, noting above all that customers "want the feeling that the organization considers their business to be important, essential, and vital to its operation" (Jones, 2000, p. 26), with CRM a way to assure that this idea is pursued."
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 CustomerRelationshipManagement 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 looks at how shifts in consumer behavior are frequently perceived to be inexplicable to marketers, who scratch their collective heads and wonder what can be done to improve or even salvage existing market share. It attempts to identify what part brand loyalty plays in an effective customer relations management strategy and to determine what businesses can do to maximize this feature in maintaining existing and achieving additional market share through their existing or improved customerrelationshipmanagement (CRM) strategies.
From the Paper "During the late 1980's it was observed that many consumer products firms have followed the strategy of producing multiple brands which compete in the same product category. This strategy is perhaps best exemplified by the brand management philosophy of package goods firms such as Procter & Gamble, widely regarded as the pioneer of this strategy (Schiller 1988). The underlying rationale with this approach was that it is better for a consumer to choose between several of a company's own products than to choose between those of other firms. The multi-brand strategy demonstrates that multinational corporations often conceal the manufacturers of their products or the name of their core brand while entering the market with multi brands or sub-brands."
This paper is a complete research study, including an extensive literature review, exploring how pharmaceutical companies can achieve long term customerrelationship in Gulf council countries (GCC).
Abstract This paper explains that the independent variables for this study about customerrelationshipmanagement (CRM) are (1) I.T. infrastructure, (2) top management support, (3) team building, (4) role specification, (5) communication, (6) common bond (7) planning process, (8) system integration, (9) employee motivation and (10) monitoring processes. The author reports that the study methodology involved an online questionnaire used to survey 100 doctors, pharmacists and other health and financial authorities in Kuwait. The paper includes many statistics and tables.
Table of Contents:
Introduction
Literature Review
Principles of CRM?
Benefits of CRM Trends of CRM Formation
Why CRM Fail?
CRM Strategy
Limitations of CRM CRM in Global Context or in Developing Countries
CRM Performance Indicators
Factors Influencing CRM Performance
General Framework of the Study
Research Hypotheses
I.T. Infrastructure
Top Management Support
Team Building
Role Specification
Communication
Common Bond
Planning Process
System Integration
Employee Motivation
Monitoring Processes
Methodology
Research Design
Sampling Unit
Sampling Frame
Method of Selecting the Sample Elements
Participants
Data Collection
Scale Development
Data Analysis
Dependent Variable
Independent Variables
Questionnaires
Reliability and Validity of the Results
Delimitations
Ethical Issues
Results, Data Analysis and Discussion
Results
Question 1
Hypothesis Testing Of Regression B/W IT Infrastructure and CRM Statements
Calculation
Question 2
Hypothesis Testing of Regression B/W Top Management Support and CRM Statement
Calculation
Question 3
Hypothesis Testing of Regression B/W CRM and CRM-Teams
Statement
Calculation
Question 4
Hypothesis Testing of Regression B/W CRM and Role Specification
Statement
Calculation
Question 5
Hypothesis Testing of Regression B/W CRM and Communication
Statement
Calculation
Question 6
Hypothesis Testing of Regression B/W CRM and Common Bonds
Statement
Calculation
Question 7
Hypothesis Testing of Regression B/W CRM and Planning Process
Statement
Calculation
Question 8
Hypothesis Testing of Regression B/W CRM and System Integration
Statement
Calculation
Question 9
Hypothesis Testing of Regression B/W CRM and Employee Motivation
Statement
Calculation
Question 10
Hypothesis Testing of Regression B/W CRM and Monitoring Process
Statement
Calculation
Significance and Conclusion
Who Should Use CRM?
Implications
The Future of CRM?
Conclusion
From the Paper "The fourth question explored the relationship between CRM and role specification. Question five explores the relationship between CRM and communication. The answers of the respondents have been summarized in Table 5.1. Thirty four (34) respondents asserted that it is "extremely likely" that companies with clear communication patterns will be highly successful in maintaining long-term CRM. Ten (10) respondents asserted that it is "Quite likely" that companies with clear communication patterns will be highly successful in maintaining long-term CRM."
Abstract This paper aims to define those areas where customerrelationshipmanagement (CRM) and marketing are interconnected. It begins by defining CRM, in general and looking at how it has developed within organizations over time. The paper then specifically looks at cases of specific strategies that are dependent on each other for results.
Table of Contents:
Executive Summary
The Rapidly Changing CRM Landscape
Defining CRM CRM's Impact on Marketing: Fuel for Attracting, Selling and Serving Customers Summary
From the Paper "One of the most challenging areas of how companies are integrating CRM and marketing strategies is channel management, specifically Partner Relationship Management (PRM). This is the application of CRM strategies, tools, and techniques to the indirect channels that companies rely on for revenue. These are the distributors and dealers that companies sell their products through. To keep distributors and dealers selling their products, companies are using CRM systems to first understand the many priorities of their channels and second, to build loyalty with their distribution channel partners. Foremost in these efforts around PRM is lead generation and escalation, which is the generating, tracking and distributing of sales opportunities throughout distribution channels. In a critically acclaimed body of research, (Columbus 2003) claims that lead generation and escalation is critical for the long-term functioning of any channel management initiative. In his research, Columbus claims that Microsoft was able to increase sales by 30% throughout France using lead management and escalation for their mid-market ERP applications."
Abstract This paper examines two management concepts called revenue management (RM) and customerrelationshipmanagement (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
Abstract This paper argues that customerrelationshipmanagement (CRM) is not something to be taken lightly; in other words, it is an efficacious means of prioritizing customers and in developing insight into new prospects. With this in mind, this paper looks at the history of CRM, what it entails, the sorts of applications it can be used for, what its strengths and weaknesses are, and - every bit as importantly - what the future holds out for this relatively new business innovation. As an addendum, it provides an insight into how the relationship between customers and businesses has evolved even in the last generation as the public becomes more educated and as consumers become more discerning and demanding.
Outline:
Executive Summary
Introduction
Explanation of Technology
Historical Background
The Technology
How the Technology Works
Suppliers of Technology
Consumers of Technology
Application of Technology
How the Technology is used in Organizations Today
What are the Technology's Applications
Strengths of the Technology
Weaknesses and Costs of the Technology
Success Story
A Failure
Future Trends
The Future
Forces for Change
Conclusion
From the Paper "There are a host of technologies commonly associated with CRM and a paper of this size cannot do justice to all of them. However, the internet (specifically "cookies" and online interactive forms which capture information on customers), WAP phones, help-desk software, e-mail "organizers" and web development applications all constitute elements of modern-day Customer Relationship Management technology ("CRM," n.d.). As an additional point, much of the software now made available to businesses eager to employ CRM technology have highly-advanced functionality, integrative qualities, and "point-and-click" customization (Salesforce.com, Inc., para.1; for examples on how CRM technology can be used to optimize pricing levels, please see Lewis, 2005)."
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 The writer of this paper defines CRM as customerrelationshipmanagement, which is an information industry phrase for methodologies, software and internet facilities that assist an enterprise in handling customerrelationships 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."
