...group members, we managed to make the thesis easier to understand. We would also like to thank Halmstad University which has given us a good environment and the opportunity to undertake the dissertation in which we are interested. Also, many thanks to Company A which provided a large amount of information which forms the empirical data. Finally, we want to thank our families and friends. You gave us all support both emotionally and financially during the one year study, especially in the last five months for our dissertation. Halmstad August, 2011 I Abstract Customer Relationship Management (CRM) which focuses on the relationship with customers has become more and more important in business management. CRM is a managerial system based on technological applications which can help companies to get competitive advantages. In our paper, we focus on the CRM in the Chinese context and our purpose is to identify important factors during the management of customer relationship in China. We have studied one of the largest Chinese Telecom companies. The...
Words: 19605 - Pages: 79
...Harvard Business Review Article Proposal “Putting the ‘R’ Back into CRM” By Susan Fournier (Boston University) and Jill Avery (Simmons College) November 17, 2009 1.) What is the central message (the “aha”) of the article you propose to write? What is important, useful, new, or counterintuitive about your idea? Why do managers need to know about it? Ten years ago, Fournier et al.’s Harvard Business Review article, “Preventing the Premature Death of Relationship Marketing,” charged that “the very things that marketers were doing to build relationships with their customers were destroying those relationships at the core.” According to the authors, relationship marketing was “powerful in theory, but troubled in practice” because marketers did not fundamentally understand what relationships with customers were all about or how they should be built and maintained. Ten years later, this seminal article continues to be a bestseller for the Harvard Business Review, is widely cited by academics (406 citations in Google Scholar), is incorporated frequently into MBA, executive education and doctoral curricula, and, importantly, has been a guiding force for managers from diverse industries who are interested in establishing stronger customer relationships. What accounts for the enduring appeal of the “Premature Death” article? We argue that the fundamental lessons offered in this article are as relevant today as they were ten years ago. In fact, our failure to appreciate...
Words: 2106 - Pages: 9
...Customer Relation Management role When thinking about CRM, do person think first (and often only) of one department in the company? For instance, some companies use CRM for sales management or to handle market segmentation and marketing campaigns. Others use it for knowledge management. And some companies use CRM in the customer service department providing service management. But the role of CRM can be more than just a tool for marketing or customer support, sales force automation. In fact, CRM can help automate business processes and integrate every client-facing department with service organization, resulting in increased customer satisfaction, long-term relationships and increased sales. The concept of CRM is premised on the simple logic of business : it must keep tracking customers once attracted; retain them in business portfolio and profit from their growth. CRM can be viewed in 4 ways * Firstly it is a existing response to the emerging climate of unprecedented customer churn, waning brand loyalty and lower profitability. * Second, CRM is central to the task of making an organization customer centric. * Third, CRM is the definite symbol embracing IT in business. * Fourth, CRM is the most certain way to increase value to the customers and profitability to the practicing organizations. What is so special in CRM programs which drive the customer back to the store? It can be better understood from 2 perspectives: Tangible benefit + Intangible...
Words: 972 - Pages: 4
...Joseph Coleman The IT department has chosen a new customer relationship management (CRM) for the business. The new hardware replacement project will have five major factors, which are time, quality, cost, scope, and risk. The CRM has many ways it can be setup to use the best technology for the best solution for the organization. Numerous issues can come up for risks with this type of project as well as innovative new strategies to reducing the risks involved with CRM projects like this one. Some of the best ways to prepare for and supervise the hardware replacement projects, and also a look of the processes involved. For project management these need to be considered: planning of the work, risk assessment, anticipated resources needed to complete the work, work organization, the material and human resources, task assignments, direction For the CRM, supervision of CRM implementation, the progression of the project, and examining of the negative aspects and benefits of the project. The CRM project includes five major factors for setting up a project, which are quality, costs, time, scope, and risk. (Laudon, & Laudon, 2011) For quality there needs to be a plan for the results when the project is completed whether the organization is happy with the outcome of the project. The goal of the final plan is to help improve the decision-making and performance, and then the CRM project will be a success for quality purposes. Once installed the systems quality is checked for...
Words: 1117 - Pages: 5
...so, companies are always looking for the best alternatives than can be offered to their customers; thus trying to engage customers to long-term relationships through offering them products and services that they need the most. One of the best ways to achieve that is by starting to implement the Customer Relationship Management (CRM) strategy. Through this strategy companies will be able to acquire long term benefits, bigger customer base and a safe business future and this is exactly what this paper will show us. Here we are going to talk about CRM issues (barriers) and its implementation ways in banking industry. Many banks try to implement it; some of them fail to do it because they fail to execute its process correctly or lack management cooperation. The others that succeed construct a clear plan and train their employees effectively in order to execute it. More details about this research topic, how it works and how it fails, will be discussed. Table of Contents Abstract 2 Table of Contents 3 Introduction 3 Literature Review 4 CRM in Banking Industry 4 Implementation Barriers of CRM 4 How CRM can succeed 5 Conclusion 6 Works Cited 6 Introduction The world is evolving and as such, the customers’ demand for better services is growing vastly. According to Julie Nance, U.S. managing director for Medianet Innovation, so many things have changed during the last five years and that has affected the way business is done (Swann, 2007). One...
Words: 1571 - Pages: 7
...relationship management (CRM) that helps broaden the understanding of CRM and its role in enhancing customer value and, as a result, shareholder value. The authors explore definitional aspects of CRM, and they identify three alternative perspectives of CRM. The authors emphasize the need for a cross-functional, process-oriented approach that positions CRM at a strategic level. They identify five key cross-functional CRM processes: a strategy development process, a value creation process, a multichannel integration process, an information management process, and a performance assessment process. They develop a new conceptual framework based on these processes and explore the role and function of each element in the framework. The synthesis of the diverse concepts within the literature on CRM and relationship marketing into a single, process-based framework should provide deeper insight into achieving success with CRM strategy and implementation. ver the past decade, there has been an explosion of interest in customer relationship management (CRM) by both academics and executives. However, despite an increasing amount of published material, most of which is practitioner oriented, there remains a lack of agreement about what CRM is and how CRM strategy should be developed. The purpose of this article is to develop a process-oriented conceptual framework that positions CRM at a strategic level by identifying the key crossfunctional processes involved in the development of CRM strategy. More...
Words: 7859 - Pages: 32
...14-02-2013 CRM CYCLE CUSTOMER RELATIONSHIP MANAGEMENT How CRM Works Essentially CRM works by collecting leads or consumer information. Analyzing the collected information to understand customer or market requirements. Adjusting marketing campaigns accordingly to increase sales. CRM also serves for customer service and support making businesses efficient and improve customer satisfaction. In any business, the bottom-line of CRM work flow is to (1) Initiate Marketing, (2) Process Sales, (3) Schedule Orders and (4) Provide Support . 1 14-02-2013 CRM Basics CRM-Need for Business CRM helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. Any business owes its survival to its customers. Today if a company has to maintain its hold in the market the foremost step to be taken is to maintain and nurture its customer bank. Customer is the king, old or new. And if the customer is loyal to your business it works wonders to the profit of your business. A good strategy will be to integrate every area of touch point with customers like marketing, sales, customer service, and field support. This is achieved with the integration of the people, process, and technology in the business. CRM (customer relationship management) analytics comprises all programming that analyzes data about an enterprise's customers and presents it so that better and quicker business decisions can be made. CRM analytics...
Words: 1278 - Pages: 6
...management (CRM) that helps broaden the understanding of CRM and its role in enhancing customer value and, as a result, shareholder value. The authors explore definitional aspects of CRM, and they identify three alternative perspectives of CRM. The authors emphasize the need for a cross-functional, process-oriented approach that positions CRM at a strategic level. They identify five key cross-functional CRM processes: a strategy development process, a value creation process, a multichannel integration process, an information management process, and a performance assessment process. They develop a new conceptual framework based on these processes and explore the role and function of each element in the framework. The synthesis of the diverse concepts within the literature on CRM and relationship marketing into a single, process-based framework should provide deeper insight into achieving success with CRM strategy and implementation. ver the past decade, there has been an explosion of interest in customer relationship management (CRM) by both academics and executives. However, despite an increasing amount of published material, most of which is practitioner oriented, there remains a lack of agreement about what CRM is and how CRM strategy should be developed. The purpose of this article is to develop a process-oriented conceptual framework that positions CRM at a strategic level by identifying the key crossfunctional processes involved in the development of CRM strategy...
Words: 7859 - Pages: 32
...Microsoft Dynamics CRM 4.0 User’s Guide i Microsoft Dynamics CRM 4.0 User’s Guide Copyright Information in this document, including URL and other Internet Web site references, is subject to change without notice. Unless otherwise noted, the companies, organizations, products, domain names, e-mail addresses, logos, people, places, and events depicted in examples herein are fictitious. No association with any real company, organization, product, domain name, e-mail address, logo, person, place, or event is intended or should be inferred. Complying with all applicable copyright laws is the responsibility of the user. Without limiting the rights under copyright, no part of this document may be reproduced, stored in or introduced into a retrieval system, or transmitted in any form or by any means (electronic, mechanical, photocopying, recording, or otherwise), or for any purpose, without the express written permission of Microsoft Corporation. As the software licensee, you may make reasonable customizations to the software online help documentation for your internal use only. You are solely responsible for and bear any and all liability relating to any customizations you make. This includes any adverse effect that your customizations have on any functionality of the licensed software, the software documentation itself or otherwise relating to use of your customizations. Please note that installing software upgrades may rewrite customized online help files. Microsoft may...
Words: 193152 - Pages: 773
...This document has been cited by 37 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 11293 times since 2005. * Users who downloaded this Article also downloaded: * Injazz J. Chen, Karen Popovich, (2003),"Understanding customer relationship management (CRM): People, process and technology", Business Process Management Journal, Vol. 9 Iss: 5 pp. 672 - 688 http://dx.doi.org/10.1108/14637150310496758 Yun E. Zeng, H. Joseph Wen, David C. Yen, (2003),"Customer relationship management (CRM) in business-to-business (B2B) e-commerce", Information Management & Computer Security, Vol. 11 Iss: 1 pp. 39 - 44 http://dx.doi.org/10.1108/09685220310463722 Christopher Bull, (2003),"Strategic issues in customer relationship management (CRM) implementation", Business Process Management Journal, Vol. 9 Iss: 5 pp. 592 - 602 http://dx.doi.org/10.1108/14637150310496703 Access to this document was granted through an Emerald subscription provided by INDIAN INSTITUTE OF MANAGEMENT KOZHIKODE For Authors: If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service. Information about how to choose which publication to write for and submission guidelines are available for all. Please visit...
Words: 7757 - Pages: 32
...achieve success. Customer relationship management (CRM) focuses on the relationship between customer and company. Due to this feature, many companies are trying to establish their own CRM system for helping them to connect new customers and boost old customers’ long-term loyalty. CRM systems include operations and analysis, and relationship marketing strategy and supporting, customer-centric business processes (Buttle 2004). With the development of information technology (IT), using CRM system is more convenient. It is considered as an important strategic compulsory (Coltman 2007), with investment predicting that global costing will increase on CRM system over the future (Gartner Group 2009). From a U.S. based survey, it was found by Goodhue et al. (2002) that a CRM system had already been established or was planned by 91 percent of companies. However, according to Rigby, the application of a CRM system is not very successful (Rigby et al. 2002).The main reason is that more than half of total companies consider CRM as a simple technology solution which aims to build a bridge among marketing, sales and service (Peppers and Rogers, 1999). A successful implementation should consist of different functional departments and be based on the needs of customer, at the same time, the CRM system also needs to integrate technology about business process management and cover the entire organization (Goldenberg, 2000). This paper will define CRM and supermarkets. Then it will focus on the factors...
Words: 2446 - Pages: 10
...Enterprise Project Model – CRM CMGT 556 University of Phoenix December 7th, 2015 Professor Andrew Nash The Software Packages The Two off-the-shelf CRM software packages that could best benefit our organization as it relates to the production of medical devices and interaction with the healthcare field are Salesforce (www.salesforce.com) and Infusionsoft (www.infusionsoft.com). The first of these two CRM software packages is Salesforce, the leading software for CRM. Some of the biggest draws to Salesforce are its abilities to allow our organization to work on monitoring and managing the business from anywhere. The software will allow Virtual Reality Imaging (VRI) Technologies the ability to anticipate customer wants based on past behaviors. Whether this will be the complete 3D Scanning system or individual repair parts, this software will allow VRI to be on top of what the customer wants and needs. This CRM software package from salesforce will allow us to connect with our clients/customers on a 1 on 1 basis, making our organization more consumer friendly. Salesforce use of the cloud allows for faster connection to our clients through mobile and social apps. The value of Salesforce is matched in it’s pricing options that provide a variety of prices based on need and size. Infusionsoft is another CRM that gives Salesforce a run for their money. First off is the pricing varieties that they offer for their packages. The highest package and best value is the $599 pricing...
Words: 1002 - Pages: 5
...The Magic CRM of Macy's, Inc. Natalia Lawson University of Phoenix Information Systems Fundamentals CIS/207 Byron L. Kizzie February 4, 2013 The Magic CRM of Macy's, Inc. "Be everywhere, do everything, and never fail to astonish the customer." Macy’s motto. The history of Macy’s, Inc., one of the largest department store retailers in the world, has began with an opening of a small dry goods store in New York in 1858 ("Macy’s: A History," 2013, p.1). ‘First-day sales of the newly born store totaled $11.06 and reached $90,000 by the end of the first year.” Macy’s, Inc. conducted its business in 11 adjacent buildings by the end of the 19th century ("Macy’s: A History," 2013, p. 1). In the 21st century, “the store’s fiscal sales in 2011 reached $26.4 billion. Approximately 171,000 employees work at Macy’s, Inc., formerly known as Federated Department Stores, Inc. The giant retailer has two corporate offices in Cincinnati, 800 department stores in 45 states, the District of Columbia, Guam and Puerto Rico” ("Macy’s Fact Sheet," 2013, p. 1). In addition, the corporation conducts e-business on macys.com website. What has made and continues to make Macy’s, Inc. so successful and respectful? As a former employee of Macy’s, Inc., I can attest from my own experience that the corporation’s success is due to its highly organized and well-developed Customer Relationship Management (CRM) system. How the business requirements drove the system’s initial development...
Words: 1623 - Pages: 7
...following is a report on how the Global Recession has impacted on Customer Relations Management and how more and more businesses worldwide have begun to adopt CRM systems in a bid to improve their business in the current economic climate ------------------------------------------------- The impact of the global recession within business The following is a report on how the Global Recession has impacted on Customer Relations Management and how more and more businesses worldwide have begun to adopt CRM systems in a bid to improve their business in the current economic climate Report by: Elaine McGrath Student K00121928 Limerick Institute of Technology Report by: Elaine McGrath Student K00121928 Limerick Institute of Technology Business Report The Impact of the Global Recession on CRM within business Elaine McGrath K00121928 (CRM) Customer relationship management is a business strategy for managing organisations interactions with their customers, their clients and their future sales prospects .It uses technology to organise and automate their business processes such as sales and marketing activities, customer service and technical support. According to a Goldman Sachs Study CRM is considered the second most important initiative after security for business. The overall goals of CRM are to seek out, find and win new clients and to implement strategies to retain existing customers therefore reducing customer churn levels. Another goal of CRM is to encourage true lifetime...
Words: 2609 - Pages: 11
...Sigrun Finnsdottir ACCT 367-01 Prof. Poyner 4/20/13 CRM Software: Customer Relationship Management Software Introduction to CRM Software It’s very important to a business to have good customer relationships; CRM Software’s main objectives are to attract new customers while maintaining and satisfying their current customers and trying to win back the trust of former customers. Customers are one of the most important variables for a business owner to pay attention to, when trying to create a profit. Customer Relationship Management software keeps track of customer information to help the company maintain a strong relation with the customers. Good CRM Software brings together information from all databases within a company and gives the user a holistic view of each customer; however, that’s not all that CRM Software does. It can also be used to incorporate marketing, technical support and customer service interaction in one place. Depending on what kind of level of CRM you have, it can provide you with a comprehensive view of your whole organization’s ground work such as income, order records and other key function indicators that support the most important thing; your customers (Choudhari). Benefits of CRM Software Having good CRM Software benefits a company in multiple ways. It helps the company learn about their customer’s interest from previous orders and what their needs and desire are. Also by following up with a previous customer, it helps a company to ensure that...
Words: 1431 - Pages: 6
