Customer Relationship Management

Topics: Customer relationship management, Malaysia Airlines, Singapore Airlines Pages: 11 (3288 words) Published: July 16, 2010
1.Introduction of the assignment

Customer relationship management (CRM) is the process of acquiring, retaining & growing profitable customers and a comprehensive approach for expanding customer relationship. There are different between Marketing and CRM. Marketing is a process in selling of product meanwhile CRM is a multifaceted process, which is intended to allow business organization to better anticipate and match customer needs and desire. As long as people are doing the buying, people will be involved in selling. Customer relationship management tools have been shown to help companies attain these objectives:[3] •Streamlined sales and marketing processes

Higher sales productivity
Added cross-selling and up-selling opportunities
Improved customer service, loyalty, and retention
Increased call center efficiency
Higher close rates
Better customer profiling and targeting
Reduced expenses
Increased market share
Higher overall profitability
With a good CRM, businesses can expect to increase sales, reduce costs and improve cash flow. The CRM provides business continuity and makes information a truly valuable business asset by centralizing all of your client information, sales opportunities, documents and communications history. CRM is an integrated information system that is used to plan, schedule and control the presales and post-sales activities in an organization. CRM embraces all aspects of dealing with prospects and customers, including the call centre, sales force, marketing, technical support and field service. The primary goal of CRM is to improve long-term growth and profitability through a better understanding of customer behaviour. CRM aims to provide more effective feedback and improved integration to better gauge the return on investment (ROI) in these areas.

Many companies today have become so large that is difficult for them to stay "customer-minded." It is easy for the company to get into the habit at looking purely at profits instead of the service that they are offering to their customers. Many of these companies are compartmentalized, and they are split into various departments. Customer relationship management has become a necessity for large corporations, as well as small businesses. The company that doesn't understand the power of CRM is unlikely to succeed in today's competitive market.

In today’s challenging economic climate, companies must not only “continuously improve” – but they must also “continuously reinvent” themselves. The minute a company stops growing, the competition starts catching up! "CRM applications are so hot because they enable companies to create strategies that focus the entire enterprise on serving customers," AMR's Peggy Menconi says. "Companies are realizing that they can increase earnings faster if they know their customers better. If they have a better picture of their customers, they can tailor goods and services to them. They can cross-sell and up-sell to them. After all, it is a lot cheaper to sell more of your products to an existing customer than it is to find a new customer." 2.Company Background

Malaysia Airlines (MAS) is the government-owned flag carrier airline of Malaysia. Malaysia Airlines operates flights from its home base, Kuala Lumpur International Airport, and its secondary hub in Kota Kinabalu. It has its headquarters on the grounds of Sultan Abdul Aziz Shah International Airport in Subang, Selangor. Malaysia Airlines started its operation on 1987 after the airline changed its name from Malaysian Airline System. It is founded in 1947 by Malayan Airways. Then, it transformed to Malaysian Airways due to Malaysia gaining its independence. After that, it changes its name once more to Malaysia-Singapore Airlines and thereafter ceased its operation. It was then divided into Malaysia Airlines and Singapore Airlines. From a small air service that began with a 5-seater twin engine Airspeed Consul in 1947, the...
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