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SREE NARAYANA GURU COLLEGE OF COMMERCE,

CHEMBUR, MUMBAI-89

TOPIC
Customer Relationship Management
[A project submitted for the partial fulfilment of Third year BFM degree,
Under Mumbai University]

Submitted toMamta Meghnani


Assistant Professor
(Project Research Guide)
Department of Innovative Programme

Submitted byPrince Agnel


Roll No. 09
Third Year (V Semester)

SREE NARAYANA GURU COLLEGE OF COMMERCE,


CHEMBUR, MUMBAI-89

CANDIDATES DECLARATION

I hereby declare that the Project Report entitled Customer Relationship


Management, is the result of research project undertaken towards partial
fulfilment of the course completion of the Third year of BFM (Financial
Management). Sree Narayana Guru College of Commerce Chembur, Mumbai
affiliated under Mumbai University, under the project work which carries 100 marks
and 4 credits. This is a piece of work done by me under the guidance of Mrs. Surbhi
Rathore, Assistants Professor. Dept. of Management (Innovative Programme).

The project has not been submitted for award of any other degree, elsewhere in
part or full.

Prince Agnel

Place: Mumbai
Date:

SREE NARAYANA GURU COLLEGE OF COMMERCE,


CHEMBUR, MUMBAI-89

CERTIFICATE

Certificate that this project Customer Relationship Management, is the


record of the confide project work done by Mr.Prince Agnel, Roll No.09, semester V,
Financial Management (BFM), under my supervision and guidance, under the
department of Management (Innovative Programme). The project has not previously
formed the basis for the award of any degree, diploma, fellowship or other similar
title of recognition.

Miss. Mamta Meghnani


(Project Guide)
Assistant Professor
Dept. of management
Innovative Programme

ACKNOWLEDGMENT

A number of individual have contributed in this undertaking. Their advice and


counsel have been of immense help in bringing out this project. I have tried to cover
all the key people from whom I have drawn the material for this work.

I am grateful to Dr. Ravindra K., Principal; Sree Narayana Guru College of


Commerce, Chembur, Mumbai, who provide all necessary support, in terms of
providing valuable and require study material in the library for the preparation of
the project.

I am indebted to my project guide. Miss.Mamta Meghnani, Assistant Professor,


Department of Management (Innovative Programme), SNGCC, for his guidance and
suggestions on completing this project.

I am thankful to Ms. Bina Sarkar, coordinator, Dept. Of Management (Innovative


Programme), SNGCC for having her spared time out of her extremely busy schedule
in providing on overall perspective of the project, and its preparation.

I am also grateful to the respondent who actively participated in my project and


helped me in getting the valuable data for the study.

Finally, I am indebted to the faculty members and entire staff of the department for
their co-operation, understanding and support while shaping the project.

I would be failing in my duty if I do not acknowledge the help and support of my


family, friends and all other people who have a source of motivation in completing
this project.

These supporting strategies generally fall into three groupings:


analytical, marketing and operational. The analytical path focuses on
mining the data you have on your existing customers, and marrying
that data with external data when possible to develop a scoring index.
This index can then be reliably applied to individual customers to
indicate their level of profitability, tendency to remain a customer, and
propensity to acquire other products and services. At its simplest level
this analysis might move your view of existing customers into one of
four following segments:
Low

Profit

High

Retention

High

Profit

High

Retention

Low

Profit

Low

Retention

High

Profit

Low

Retention

The second supporting strategy centers around marketing and the


design of effective programs that will enhance your customer
relationships based on their unique requirements. In many companies,
this strategy represents a different marketing focus than the traditional
one of new customer acquisition. A plan for the High Profit/High
Retention customers, for example, might focus on retaining customers,
cross-selling

them

specific

services

and

insulating

them

from

competition. In contrast, a plan for the Low Profit/Low Retention


customers might be low maintenance with heavy emphasis on selfservice.

The third supporting strategy is operational. The focus here is to


develop the capabilities needed to execute the marketing plans.
Recognize that this is where most CRM initiatives have failed. Solid
analysis and well-designed plans cannot overcome the need to execute
effectively across a range of customer contact points. It also is
important to realize that developing an effective CRM operational
capability is not about technology alone. Success requires a tight
integration of People, Process and Technology.
So that is it our primer on CRM. How does such a simple concept get
confused?

Easily! There is a

gaggle of technology vendors

labeling

whatever they have to offer as the "CRM solution." They are hoping the
trend wave-riders will sign the purchase order and ask questions later. To
prevent your organization from being caught in this wave, be sure you
have

solid CRM

business strategy that first integrates analysis,

marketing and operations. Then demand that there be near-term benefit


with real ROIs for each project approved under that strategy.

Prince Agnel