...Title Page (a) Title of submission (ii) Theme area : CRM and 4 P’s of Marketing. : Customer relation ship Management = CRM and 4 P’s. (iii) Name of the author : Prof R Ramakrishnan : Head, Department of Management Studies Muthayammal Engineering College, Rasipuram 637408 (iv) Designation with Department (v) Mailing address: College: Residence: Suri Illam, 10A Swami Sivananda Salai, Rasipuram 637408 (vi) E-mail address (vii) Phone number(s) : ramakrish54@gmail.com College: 04287-220837 and 226837 Residence: 04287-225837 Mobile : +919952669656 : 04287- 226537 (viii) Fax number Presented by me at the National Seminar On Customer Relationship Management Organized by M.O.P. Vaishnav College for Women (Autonomous) Chennai-34. On 25th February 2006 1 of 10 Electronic copy available at: http://ssrn.com/abstract=1751648 Abstract = CRM and 4 P’s of Marketing The concept of CRM has evolved over a period of time through a sequence of initiatives, which have been directed towards improving business performance. In today's highly competitive business world CRM can be considered as the ultimate solution for both customers as well as organizations. CRM considers customers not as outsiders but as insiders to the business and aims to build a long-term relationship with them. A high degree of customer contact, commitment and services are therefore essential features of CRM CRM is an on-going process of identifying and creating new value with individual...
Words: 2674 - Pages: 11
...Modern banks play an important part in promoting economic development of a country. Banks provide necessary funds for executing various programs underway in the process of economic development. They collect savings of large masses of people scattered through out the country, which in the absence of banks would have remained idle and unproductive. These scattered amounts are collected, pooled together and made available to commerce and industry for meeting the requirements. Economy of Bangladesh is in the group of world’s most undeveloped economies. One of the reasons may be its undeveloped banking system. Government as well as different international organizations have also identified that undeveloped banking system causes some obstacles to the process of economic development. So they have highly recommended for reforming financial sector. Since 1990, Bangladesh government has taken a lot of financial sector reform measures for making financial sector as well as banking sector more sound and transparent, and formulation and implementations of these reform activities have also been participated by different international organization like World Bank, IMF, ADB etc. Bank marketing is one of the booming parts in world economy. Without Bank marketing it is awfully sturdy for every bank to survive. In the modern World, bank marketing is a new criterion to us. OBJECTIVES OF THE STUDY: Broad Objective The study will explore the applicability of marketing mix strategies for IFIC Bank Ltd...
Words: 5381 - Pages: 22
...ACCRA-POLYTECHNIC GROUP-8 Questions 1. Acquire a marketing plan of a company in the financial, telecom or airline industries. 2. Summarize the outline they have used. 3. Critically examine the outline and content of the plan. HUTCHFUL LEWIS, 01134095 ADJEI PEPRAH MAVUS, 01134012D OFORI IRENE, 01134157D YUSIF RASHIDA, 01134289D APPIAH MENSAH JUNIOR, 01134401D ADAMU HAMDIYA, 01134251D AGYARE KWABENA MALVIN, 01134021D Barclays Bank marketing plan outline 1. Executive summary 2. Company description 3. Situational analysis 4. Marketing objectives 5. Marketing strategies 6. Marketing mix 7. Monitoring and control 8. Budget 9. Appendix Critical examination of the outline and its content executive summary The marketing plan of Barclays Bank focuses on introducing new innovative strategies to expand market share of Barclays Bank. The executive summary places emphasis on the 1. Objectives to achieve 2. Marketing strategies needed to achieve the objectives Company description This hinges on the fact that A. Barclays Bank is one of the leading operations in the UK financial sector with exposure to Europe, north America, middle east etc. B. Barclays was established in 1690 by John feame and Thomas Gould C. Barclays is embroiled with a number of controversial subjects such as aggressive investment trading and tax avoidance schemes. Situation analysis Barclays Bank focuses on the industry analysis. This...
Words: 770 - Pages: 4
...Kim Heng would like to upgrade the business level of his company, so he go to aboard to observe the foreign company and try to carries on the foreign business principle in his own company. Finally he successful to help the company earn the 3million 7 thousand and he expected year of 2009 will increase their profit to 10million. “The future expansion strategy will include improving the competitiveness of existing store to expand the number of outlet from the current 82 until 100,” Lee Kim Heng. 1.1 The Nature of Business SenHeng Sdn Bhd is the retailer of provide the variety home appliance which is consumer electronic items, communication equipment, computer and Accessories. Therefore, Senheng as a role of the middlemen, deliver the product from the supplier to customer. For the previous time, the price oriented is one of the important strategies for the retailer business. In the retailer industry, they will competing with the competitor price, because all the retailer also agree that cheaper price will attract a lot of new customer come to purchases their product. Moreover the retailer will offer the lower price as much as they can. Senheng try to differentiate with other retailer by concern on after sale services to the customer, they being the pioneer in this industry and successfully to alter the nature of business to customer centric. The customer is their primary element in their business, they provide a variety added value to the customer. They...
Words: 3270 - Pages: 14
...1 SERVICE CONCEPTION Services are all around us, people use service every day. The growth in the service economy is widely recognized and in-creasingly contributes to the economic development of many regions. Services are diverse and often been difficult to de-fine. Most frequently, a service has been described as an act, a process and a performance. Services are also defined as economic activities that create “added value” and provide benefits to customers. In the past, selling products are separate from selling service. When consumers bought food, clothes or car, they simply bought the tangible things they wanted and did not have any added value. Since the competition is stronger and fiercer, it’s hard to separate product from its service. If companies only sell their goods to customers without any attached services, they will lose their customer easily and failure is inevitable. For example, when buying computer, they might be attracted by the store where looks professional and they can get full in-formation as well as guidance from helpful staff about prod-ucts, a hotline service for installing the programs and so on. Company must pay attention to it and invest more on distri-bution channel to provide more good service to customers. Service business offers intangible value to buyers rather than tangible goods. It includes a wide range of industries such as hospitality, tourism, art, healthcare, education and so on. “Some service such as charities, arts operate in non-profit...
Words: 2294 - Pages: 10
...Kevin Hornsby American Intercontinental University Citigroup Globalization MKTG 205 – Principles of Marketing March 11, 2012 Abstract Banking has become one of the most globalized service on the planet, after all monetary exchange is done everywhere in some form. Out of four big banks in the United States, Citigroup has had its share of ups and downs and is still maintaining its global presence. Today we will look at the big bank from a global perspective. Introduction Citigroup has made many transformations over the years in both positive and negative directions, yet the brand maintains a reputable global status. Banking has become one of the biggest global operations that offers finance services across the globe, and Citigroup is one of the biggest brands in the playing field. Business Field Citigroup long thought of as just a bank, is a financial services organization offering consumer banking to investment banking and from merger underwriters to currency handling (Services, 2012). They utilize two business segments which are the Regional Consumer banking and business and institutional services. This basically means that part of their business models deals with the banking services of individual customers and the other caters to business and institutional services. Global Operations Citigroup actually operates out of more than 160 countries with more than 200 million accounts on their books but is based in New York City right here in the United States...
Words: 933 - Pages: 4
...ones. In order to do 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)....
Words: 1571 - Pages: 7
...Case Study #1: People, Service, and Profit at Jyske Bank Michael Cox MBAC 633-01 September 4,2014 Michael Cox MBAC 633-01 09/04/2014 People, Service, and Profit at Jyske Bank 1. Jyske Bank’s core values are rooted in treating its "three groups of stakeholders-shareholders, customers, and employees-with equal respect.” Jyske bank does this through: Common Sense, Being Open and Honest, Being Different and Unpretentious, Displaying Genuine Interest and Equal Respect for People, and Being Efficient and Persevering. 2. “First, you tell people what’s expected. Second, you check on their behavior. If they are buying expensive wine, you ask, “Why?” You explain what makes sense, and why. You do it in a way that tells them you honestly want to help them improve. Third, if there are continued problems, this person may not be right for the bank.” This quote refers to the philosophy of empowering the bank. This means that employees not just managers should make decisions if they are comfortable with them. The quote above refers to meal and entertainment expenses incurred on travel or with clients. Letting employees decide what is appropriate to expense allows them to feel in control. If the employee does not understand what is appropriate they may not be the type of employee for Jyske Bank. 3. Jyske Bank’s new “positioning” or competitive differentiation strategy is considered “Jyske Differences”. This is a focus moving from traditional product selling to a...
Words: 1022 - Pages: 5
...MARKETING FUNDAMENTALS (BMAN 70441) University Student ID: 7922185(0) Application of the marketing mix is no longer relevant for firms adopting a contemporary approach to marketing. Is this statement true? Write an essay that critically assesses this statement with reference to relevant literature and briefly outline suitable practical examples of firm’s practices where appropriate. Introduction Marketing developed as a distinctive management function in the period between the First World War and the Second World War (Lindgreen et al., 2004) which according to Marshall (1927) focused purely on distribution and exchange of goods. Period through the 1950s and 1960s as observed by (Borden, 1964) saw a tremendous increase in the evolution and interest in the subject of marketing, leading to the development of the concept of transactional marketing. The Marketing Mix Model also called as transaction marketing has been used as a corner stone of marketing for virtually four decades (Grönroos, 1994). Since its inception, McCarthy’s (1964) Four Ps- Product, Promotion and Place have been of utmost importance in the marketing management text (Yudelson, 1999). The model has seen little change since 1950s and as time has progressed; goods and services have noticeably transformed, both in terms of appearance and perceived value (Grönroos ,1994). Piller and Müller (2004) further observed that the customers had changed...
Words: 3027 - Pages: 13
...Marketing Mix Of Reliance Communications Marketing Mix Reliance communications 7 P’s of marketing for Reliance Communications Product Reliance mobile always faced the problem of weak network. So to correct the major have invested over Rs 300 crore to upgrade to NGIP (Next Generation IP) network. Product has to sell itself. Now they are launching about more than 1100 network towers to provide more coverage to its customers. Price There are many ways to price a product. The pricing policy/ strategy vary in various situations. In case of Reliance mobiles they have priced their product at a very low price & they also come up with new plans. Place Another element of Marketing Mix is Place. Place is also known as channel, distribution, or intermediary. It is the mechanism through which goods and/or services are moved from the manufacturer/ service provider to the user or consumer. Reliance Mobiles do not find it very difficult to find the distribution channel because they are the old players and distribute their product in India. Promotion Another one of the 4P’s is promotion. This includes all of the tools available to the marketer for ‘marketing communication’. Reliance has recently started doing heavy promotions. Physical Evidence Physical Evidence is the material part of a service. Strictly speaking there are no physical attributes to a service, so a consumer tends to rely on material cues. As Reliance mobile provide various rental plans. People ...
Words: 7288 - Pages: 30
...MARKETING PROJECT BANK – GROUP 3 LAUNCH OF SME LIABILITIES IN QATAR This report provides the details on Launch of SME liabilities in Qatar A SWOT analysis has been provided to identify immediate action items. STP analysis on launch of the product A marketing plan devised from the 7Ps is outlined in this report to provide a practical and feasible way to launch the product in Qatar. Numerical targets and qualitative targets are stated clearly as objectives. Sales Plan Revenue and Pay back analysis 2 EXECUTIVE SUMMARY Strengths * Well known brand name in local market * Great SME experience in UAE market * Well established SME asset to back launch of liabilities Weakness * Limitation in terms of distribution network – 4 branches. * Not been fully able to position itself correctly – More known for Retail. * Technologically weak in terms of alternative channels. S.W.O.T Opportunities * Leverage UAE Technology for differentiation and cost reduction. * Launch suite of products to meet E2E requirement of SME clients Threat * Local & government banks hold 80% of the market share. * Lower margins on liabilities * Back office support from UAE ‐ * 40% growth expected in SME sector Slower TATs will adversely effect in next 3 years. customer experience. 3 SEGMENTATION TARGETING POSITIONING 4 SEGMENTATION Geographic Demographic Psychographic • Different industrial areas of Qatar where SMEs are highly based. • SE customers ageing 35‐60 years of age...
Words: 1424 - Pages: 6
...Module title: Introduction to Business Studies Report title：Analysing the working system of Tesco’s business Student name: JIANAN XIE Student number: 200951639 Tutor name: Mr.Morgan Word count:1542 Contents 1. Introduction p3 2. Entrepreneur: Warren Buffett p3/p4 2.1 The profile of Warren Buffett 2.2 Skills lead to success 3Marketing strategies of Tesco p4/p5/p6 3.1 The overview of marketing and marketing mix 3.2 Four P’s strategies of Tesco 3.21 Product 3.22 Price 3.23 Place 3.24 Promotion 4 Organisational culture of Tesco p6 5Employee motivation strategies of Tesco p6/p7 5.1 Definition and Importance of motivation 5.2 Theories of motivation 6 Conclusion p7 7 Reference list p8/p9 8 Appendix p10 1. Introduction In 1919, Jack Cohen built a small shop in the east of London. Afterwards, Tesco was born because of the combination of Jack Cohen and a tea supplier called T.E.Stockwell (Time100, 2012). Since then, Tesco has a steady growth. Now, Tesco is a leader in the UK retailer field which own 2979 stores and employ about 300,000 staffs in the Britain, accounting for more than 30% market...
Words: 1953 - Pages: 8
...Christian University, Fort Worth, TX 76129, USA c Fordham University, 441E Fordham Road, Bronx, NY 10458, USA b a r t i c l e i n f o Article history: Received 12 December 2010 Received in revised form 13 July 2011 Accepted 9 August 2011 Available online 7 April 2012 JEL classification: G18 G20 G28 Keywords: Credit ratings Investor pay Issuer pay Moody’s S&P abstract We test whether Standard and Poor’s (S&P) assigns higher bond ratings after it switches from investor-pay to issuer-pay fees in 1974. Using Moody’s rating for the same bond as a benchmark, we find that when S&P charges investors and Moody’s charges issuers, S&P’s ratings are lower than Moody’s. Once S&P adopts issuer-pay, its ratings increase and no longer differ from Moody’s. More importantly, S&P only assigns higher ratings for bonds that are subject to greater conflicts of interest, measured by higher expected rating fees or lower credit quality. These findings suggest that the issuer-pay model leads to higher ratings. & 2012 Elsevier B.V. All rights reserved. 1. Introduction This paper investigates whether charging bond issuers for credit ratings leads to higher ratings. The three major credit rating agencies—Standard & Poor’s (S&P), Moody’s Investor Service (Moody’s), and Fitch—have been heavily criticized since 2002, when they failed to foresee the bankruptcies of Enron and WorldCom. During the recent financial crisis, the major...
Words: 13947 - Pages: 56
...Eoghan Cunningham Student ID: A001531944 Subject: Marketing Management [705MMGT] AQF level: 8 Word Count: [ 2563 ] Executive Summary The information in this report is based on information used for a Marketing Management Plan for ERSI’s Geographical Information Systems Software, ArcGIS Platform. The methods used contain factual background information about the company to conduct the SWOT Analysis and IBIS World company financial information was used for SALES and Profits. Marketing mix methods were used to show the products potential and marketing strategy. A market overview outlines the current market situation and current marketing situation is analysed. Market segments are discussed with an industry focus and competitors are outlined. A conclusion has been determined that ESRI’s is ready to distribute the product to $2.1 billion market and is strategically placed to do so. A strategic marketing plan is to be completed to implement he marketing strategy and projected sales revenue of $75,560,660. Contents Executive Summary 2 Introduction 5 Company Background 5 Company Mission Statement 5 Market Overview 6 Marketing Situation 6 Production 6 Target Market 6 Human Resources 7 Distribution 7 Market Segments 7 Industry Segments 7 Competition 8 Major Industry Players according to IBIS World: 8 Strengths Weakness Opportunities and Threats (SWOT Analysis) 9 Strengths 9 Weaknesses 9 Opportunities 9 Threats 9 Discussion 10 Sales...
Words: 3212 - Pages: 13
...“MARKETING ANALYSIS OF WATEEN” SUBMITTED TO: SUBMITTED BY : MRS ANUM SARA NAEEM (345) DEPARTMENT OF MANAGEMENT SCIENCES LAHORE COLLEGE FOR WOMEN UNIVERSITY ------------------------------------------------- PREFACE First of all, I am very thankful to Almighty Allah, with the help of whom I have completed this task. The journey has not finished yet and I pray to Him who shows us the straight path & helps us in every difficulty as we are nothing without His mercy. Project report is the indispensable part to complete BBA program. This report is based on my research and the objective of this project is to give overview of marketing strategy of Wateen Telecom to provide DTH television services to viewers in Pakistan. Analysis carried out on TV and cable market in terms of size and growth, covering different segments present in the market. It includes introduction of company and product, external and internal environment, market and competitor analysis, and marketing mix. “TABLE OF CONTENTS” Marketing Introduction 1 Vision 2 Mission Statement 2 Corporate values 3 Business Line 3 Management profile 4 Market Segmentation 5 Geographic Segmentation 5 Demographic Segmentation 6 Target market and Target market strategy 7 Target Market: 7 Target Market Strategy: 7 Revenue figures 8 Market Position 8 Marketing mix 11 Four P’s 11 BCG Matrix 14 SWOT...
Words: 3581 - Pages: 15
