1. Customer Relationship Management
By,
Dr. Madhurima Deb

2. Marketing Defined
A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

3. Exercise 1.1
Identify and discuss five most important founding concepts of marketing.

4. Core Marketing Concepts

5. Transform the 4Ps into a 4Cs.
Four Ps Four Cs
Product Customization
Price Clear value to the customer
Place Convenience
Promotion Communication

6. WHAT IS CUSTOMER RELATIONSHIP MANAGEMENT ?

7. Definition
Automation of horizontally integrated business processes involving front office customer contact points (marketing, sales, service and support) via multiple interconnected delivery channels’, Metagroup (2000).
Gronroos and Berry (1963), “CRM is the process of acquiring, developing and retaining relationship with customers”.
Gartner (2004), “CRM is an IT enabled business strategy the outcomes of which optimizes profitability, revenue and customer satisfaction by organizing around customer segments, fostering customer-satisfying behaviors and implementing customer-centric process”.
Eg. Flipkart, Amazon, Banks etc

8. CRM as Business Strategy
Macro Market/ External Environment
Micro Market/Internal business Environment
Utilization of the scarce resources in a profitable way.
Production/ Operation
Sales & Marketing
Finance HR IT

9. Elements of CRM
In order to serve the customers profitably core elements that are needed are,
Customer Knowledge
Relationship Strategy
Individual value proposition
Communication (multi-channel integration)

10. Process and System of CRM
It begins from ‘moment of truth’
Integration of both front and back end operation.

11. Success of CRM requires
Retain profitable customers in the business portfolio.
Due to Industrial revolution relationship dissipated between customer & suppliers.
Gaps increased.
From 1980’s onwards the concept of relationship marketing slowly started gaining momentum.