Customer Relationship

management
CUC-MBA -Marketing
Management –George K
Amoako

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• Customer is the employer.
• Managing the employer to remain
employed should be every
employees goal.

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 CRM
• CRM – Customer relationship
management . . .
“is the overall process of building
and maintaining profitable customer
relationships by delivering superior
customer
value and satisfaction.”
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 CRM
• It costs 5 to 10 times MORE to
attract a new customer than it
does to keep a current customer
satisfied.
• Marketers must be concerned
with the lifetime value of the
customer.
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 CRM
• Customer value/satisfaction
Key Concepts  Perceptions are key
 Meeting/exceeding
expectations creates
• Attracting, satisfaction
• Loyalty and retention
retaining and  Benefits of loyalty
growing customers  Loyalty increases as
satisfaction levels increase
• Building customer  Delighting consumers should
be the goal
relationships and • Growing share of customer
customer equity  Cross-selling

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 CRM
• Customer equity
Key Concepts  The total combined
customer lifetime
• Attracting, values of all
retaining and customers.
growing customers  Measures a firm’s
performance, but in a
• Building customer
manner that looks to
relationships and the future.
customer equity
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 CRM
Key Concepts • Customer
relationship
• Attracting, levels and tools
retaining and  Target market
growing customers typically dictates
• Building customer type of
relationships and relationship
customer equity Basic
relationships
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 Marketing Challenges
• Technological advances, rapid
globalization, and continuing social
and economic shifts are causing
marketplace changes.
• Major marketing developments can be
grouped under the theme of
Connecting.

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 Marketing Challenges
Connecting • Advances in computers,
telecommunications, video-
conferencing, etc. are
• Via technology major forces.
 Databases allow for
• With customers customization of products,
messages and analysis of
needs.
• With marketing • The Internet
partners  Facilitates anytime,
anywhere connections
• With the world  Facilitates CRM
 Creates marketspaces
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 Marketing Challenges
Connecting • Selective
relationship
• Via technology
management is
• With customers key.
• With marketing  Customer
partners profitability
analysis
• With the world
separates
winners from 1 - 10
 Marketing Challenges
Connecting • Partner
• Via technology relationship
management
• With customers
involves:
• With marketing  Connecting inside the
partners company
 Connecting with
• With the world outside partners
 Supply chain
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 Marketing Challenges
Connecting • Globalization
 Competition
• Via technology  New
• With customers opportunities
• With marketing • Greater concern
partners for
• With the world environmental
and social
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