“Role of CRM in Telecom Sector”
This research paper is on the “Role of CRM in Telecom Sector”. The report begins with the abstract of Role of CRM in Telecom Sector, History of telecom sector & the Introduction part. This report also contains the basic marketing strategies used by various telecom service providers.In today’s world of cutthroat competition, it is very essential to not only exist but also to excel in the market. Today’s market is more & more complex so, to survive in the market the companies not only have to satisfy its customers but also delight them. The objective of many marketing strategies has been building the customer’s commitment to a brand or a dealer. This lays emphasis on: • Creating customer satisfaction -delivering superior quality products and services. • Building brand equity - the sum of the intangible assets of a brand. i.e. name awareness, perceived quality, brand loyalty, the associations consumers have towards the brand, trademarks, packaging, and marketing channel presence • Creating and maintaining relationship
Few companies have realized the opportunity to improve the relationship with a customer while performing marketing research. Any direct contact, including customer satisfaction surveys, is an important opportunity to improve the relationship with customers. In our paper we show that consumer research and relationship marketing are integrated components of an overall customer orientation, and that marketing re-search can be used as a tool to perform relationship marketing. A direct marketing approach is used, contacting customers by telephone. Our results show an increase in repeat business for automobile repair services with customers contacted by phone in a customer satisfaction survey.Personal relations are the important thing for ever and ever, and not this outer life of telegrams and anger.” (E. M. Forster, Howards End, 1910) Frederick Reichheld further developed the importance of building customer commitment in his 1996 book The Loyalty Effect. He focused on the cost of customer defection and set the stage for the problem by claiming” many major corporations now lose and have to replace half their customers in five years [...]” (Reichheld 1). Reichheld claimed that even small improvements in customer retention can as much as double company profits. This is because: 1. It costs less to serve long-term customers.
2. Loyal customers will pay a price
Over the Last decade, competitive forces have prompted corporations to take an increased focus on knowing their customers better through improved consumer research. Better understanding of what consumers perceive as ‘‘quality’’ and ‘‘value’’ has been the key to the development of successful corporate strategies for the 1980s and early 1990s. In an age when competition has in-creased, consumer research, and more specifically, customer satisfaction research has become essential for a company’s survival. A customer relationship marketing orientation is emerging as central to designing organizational structure and strategy. Customer Relationship marketing is becoming pervasive in both industrial and consumer markets. The main emphasis of this paper is to demonstrate how customer satisfaction research can become a proactive tool for relationship marketing.
Customer Relationship marketing is emerging as the core marketing activity for businesses operating in today’s competitive environments. On average, businesses spend six times more to acquire customers than they do to keep them. Therefore, many firms are now paying more attention to their relationships with existing customers to retain them and increase their share of customer’s purchases. The Indian telecom landscape has today emerged as one of the most dynamic business segments in the country. The telecommunication services have made a rapid stride both in quality and quantity. The process...
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