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Customer Centric Customer Relationship Management, Essays (university) of Management Fundamentals

University of California - IrvineManagement Fundamentals

Changing consumer attitudes are driving Customer Relationship Management. Fuelled by Internet-induced expectations and a good increasing mood of self-reliance among customers, companies need to compete in an environment where communication, buying processes, data management, delivery, and repair are all important within the battle for long-term, profitable relationships. Customers now require: - Control over the buying process (information, comparison, selection & easy)

Typology: Essays (university)

2019/2020

Available from 09/02/2021

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Customer Centric Customer Relationship Management
Subject: Management Paper 1
Changing consumer attitudes are driving Customer Relationship Management.
Fuelled by Internet induced expectations and a good increasing mood of self-reliance among
customers, companies need to compete in an environment where communication, buying
processes, data management, delivery and repair are all-important within the battle for long
term, profitable relationships.
Customers now require:
Control over the buying process (information, comparison,
selection, easy to seek out, use and respond to)
the simplest possible price (including delivery, and without
compromise to brand or product quality)
The quickest, slickest delivery system (preferably free)
All payment options (secure)
Communications designed to suit the actual need
(Computerised; complex; caring)
The above apply regardless of the sort of trading:
Direct
Traditional
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Customer Centric Customer Relationship Management Subject: Management Paper 1 Changing consumer attitudes are driving Customer Relationship Management. Fuelled by Internet induced expectations and a good increasing mood of self-reliance among customers, companies need to compete in an environment where communication, buying processes, data management, delivery and repair are all-important within the battle for long term, profitable relationships. Customers now require:  Control over the buying process (information, comparison, selection, easy to seek out, use and respond to)  the simplest possible price (including delivery, and without compromise to brand or product quality)  The quickest, slickest delivery system (preferably free)  All payment options (secure)  Communications designed to suit the actual need (Computerised; complex; caring) The above apply regardless of the sort of trading:  Direct  Traditional

 Retail  E-commerce  Wholesale  Combination These attitudes combined with the event of latest technology and therefore the growing convergence of variety of 'new - new' and 'emerging - new' communications and distribution technologies such as:  'Fixed link' telephony and telemarketing  Internet and VOIP  Mobile telephony, SMS etc.  Digital TV, Cable, Satellite is resulting in an increasing specialise in Customer Relationship Management by all kinds of organisations, as they realise that technological change allows them to re-organise the way that they manage customer relationships and make them more profitable. Organisations are checking out something much more holistic, consistent and yet dynamic. To achieve that and a sustainable competitive advantage in Customer Relationship Management means working with the management team, staff and suppliers of the corporate , where reasonable and price effective using technology (e.g. intranet, extranet) to assist to deliver the actions necessary to maximise performance.

 What strategies am i able to use to enhance a customer's profitability profile? It also requires the organisation to deliver customer value. Customers must feel that the organisation: o ‘Understands what I want’ o ‘Communicates with me’ o ‘Provides me with added value’ o ‘Gives me reasons to not switch’ o ‘Treats me as an individual’ To achieve these answers Customer Relationship Management requires specialise in each side of the equation: o Customer Communications Management o Process Quality Management and on three key delivery mechanisms, those of:  Proposition  Processes  People

To be fully effective at Customer Relationship Management an organisation has got to position the business unit or enterprise (proposition, processes and people) in order that the customer is because the centre of their business. True Customer Relationship Management means the business has streamlined customer management through the mixing of all customer 'touch points', like marketing, customer service and payment in such how that true customer satisfaction and loyalty appear to occur effortlessly. Customer Relationship Management isn't a 'fad' it's a business philosophy that helps to extend revenue, reduce costs and to create and retain a loyal customer base.