Essays on Services Marketing and Customer Relationship Management Case Study

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The paper "Services Marketing and Customer Relationship Management " is a great example of a Marketing Case Study. Customer relationship management has become a major area of specialization by many organizations. This technique has enables organizations to manage their staff members, to manage information systems, to determine sales opportunities and to form more networks within the organization. It makes work easier by adopting various technological methods that may be relevant to the organization. However, customer relationship faces challenges. It is hard to find loyal consumers, it may be hard to set objectives to be achieved, It is difficult to appoint a dedicated team to which are competitive.

Customer relationship management is essential practice that should be adopted by many organizations Modern business entities require interaction between each other. Organizations have to form a wide network strategy to increase their markets. It refers to a method of managing future and current customers within an organization. It uses technology to analyze the volumes of sales, level of marketing, customer care services and other support which are technical within the organization. Any successful company designs a successful marketing strategy to increase their sales.

An interview was conducted in Australian Foundation of Investment Company. The major aim of the interview was to determine the importance, challenges and effects of customer relationship within this company. Australian foundation of investment is a company that was established in the early 60s. It is referred to as a close-end fund investment company. The company manages the equities of Australian citizens. It aims at giving its shareholders attractive returns on their investment. They offer medium-term growth capital to customers and pay higher dividends to shareholders. FINDINGS ROLES AND RESPONSIBILITIES OF CUSTOMER RELATIONSHIP MANAGER Managing information “ It is my work to manage information within the organization.

“ She said. Customer relationship managers formulate data that can be accessed easily by customers. They collect, summarize and produce analyzed data about the Australian foundation and present them to their customers. According to Ms. Hey, they identify major areas such as volume of sales, customer care services and any other technical support that may be required by the customers. They then formulate easier ways for them to access such services. According to a journal “ customer management strategy, ” it argues that customer relationship management can ease their work by formulating effective software that matches different customer services.

The installation of technological methods of solving information management is crucial. Information is drafted from data entered into a computer. Information to be presented to customers should be; Free from any grammatical errors- the information should be error-free. It helps customers to understand the message easily. Information full of grammatical errors may distort the meaning of the message passed to customers. Effective- information should target the right audience and carry the right message.

Ms. Hey says that information should be able to meet the needs of all customers within the Australian foundation of investment. Flexible- quality information formulated should be able to be changed with time. Changes are dynamic and inevitable. Information formulated should allow changes to be made. Consistency- Information should reflect activities undertaken by the organization. Ms. Hey says that whenever her team formulates information, she checks to ensure that it is consistent with the Australian foundation of investment. Training her staff

REFERENCES

Davenport, T.H., Harris, J.G., Kohli, A.K. (2001), "How do they know their customers so well?", MIT Sloan Management Review, Vol. 42 No.2, pp.63-73.

Piskar F., Faganel A. (2009). A successful CRM Implementation Project in a Service Company: Case Study. Organizacija, Vol: 42, pp. 199-208

Jim Dickie, CSO Insights (2006) Demystifying CRM Adoption Rates

Hasan, M. R., Rahman, M., And Khan, M. M. (2013). Rural Consumers’ Adoption of CRM in a Developing Country Context. International Journal of Business and Management Invention (IJBMI), 2(9), 121-131. [1]

Nguyen, B. & Mutum, D. S. (2012). A review of customer relationship management: successes, advances, pitfalls and futures, Business Process Management Journal, 18 (3). 400-419 [2]

Forbes.com (2013) 2013 CRM Market Share Update: 40% Of CRM Systems Sold Are SaaS-Based

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