Customer Relationship Management Report

Topics: Customer relationship management, Customer service, Marketing Pages: 16 (5213 words) Published: April 22, 2015


Lecturer: Dondjio. I
Group 3
14122723 Ji-Hye Choi
14124262 Jinkeyung Baek
14125064 Xiaomin Chen
14128858 Maxime Gouge

Contents

1. Introduction2
1.1 Executive Summary2
1.2 The Definition of CRM2
1.3 The Necessity of CRM3

2. Critical analysis of CRM4
2.1 What causes the failure of CRM?4
2.2 Future of CRM6

3. Brief Summary and Analyze Cases8
3.1 Case Summaries8
3.2 Cases Analysis9

4. Answer and Analyze Case Questions11
4.1 Identify strategies for the CRM project implementation.11 4.2 Identify reasons contributing to the failure of the CRM implementation at Mashkin.11 4.3 Discuss the current state of CRM practice in emerging markets using the example of Russia.12 4.4 What additional challenges might companies in Russia face in implementing CRM projects?12

5. Conclusion13
Reference14

1. Introduction
1.1 Executive Summary

In the past, consumers were just anonymous people who consume products and services that companies provide. However, as technology and internet developed, the level of the customer information increased. Also, consumers want to satisfy not only their needs, but wants. Therefore, in the past, companies advertised themselves to unknown many people. However, nowadays, companies segment customers and target on specific segmentation which they want to attract. For this, companies started to sensitively analysed customers response, and maintain long-term relationship with them. This is called CRM (Customer Relationship Management).

1.2 The Definition of CRM
a. CRM(customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way (Techtarget)

b. Customer Relationship Management (CRM) is a strategy for managing all your company’s relationships and interactions with your customers and potential customers (Salesforce)

c. CRM is the name for any system or model used to manage a company’s interactions with its current or future clients or customers. (Econsultancy)

d. CRM
A management philosophy according to which a company’s goals can be best achieved through identification and satisfaction of the customers’ needs and wants. A computerized system for identifying, targeting, acquiring and retaining the best mix of customers. (Businessdictionary) e. CRM, an acronym for Customer Relationship Management, is an entire strategy related to the management of customers and contacts for your business. (Goldmine) Customers can be clients, buyers, purchasers, or users of products/services. Relationships involve interactions with customers or prospects to understand requirements and provide value. Management aims at directing the organization towards customer-centric action.

Why are there so many definitions of it? As we see, all these definitions are slightly different. It is very natural because all the companies have different consumers and conditions. All companies have different systems, consumers, and characteristics. For example, they have completely different external factor. Their political, economic, social, technological analysis are different. Therefore, the way to manage companies and customers cannot be the same. Especially, the importance of CRM is increasing these days. Why do we need to do consumer relationship management and why is the importance of it increasing nowadays?

1.3 The Necessity of CRM
In these days, all companies face hard competition than ever before. Every day, new products hit the market and new technologies are developed. On the other hand, customers have many choices than ever before. They can choose what they want among many companies and they want to satisfy their wants not just buying the products that companies provide. In this situation, selling products is not enough for the companies' future. Creating long-term relationship with customers and...
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