Agenda

Introduction- Faculty
Class expectation and co creation for learning
environment
Assignment
Class 1 coverage
CRM-theme and issues
How to grow a premium Brand
Marketing Reading on Customer Centricity

Introduction- Faculty

Educational bakground
Other experiences- Professional and beyond
Why do I take CRM?
What I hope to achieve
Slight shift in world view
Link it with living purposefully

Class expectation and co creation for

learning environment

Credit requirement
CGPA requirement
Will help to get a job- current industry focus
Will help to perform better
Will help me to think better
Time line of outcome varies

Vatavaran ka prabhah- everyone matters

Iccha ke 3 sthar
How can you contribute

Assignment
Quiz
Group- Case based
Individual and Group- Three prong strategy
Industry
Organization
Current status- Universally

Section A- Group 8 (20, 36, 45, 80 and 16)- Case Hilton:

Industry Insurance- Choose companies by next class
Section B: Roll no 154 (156)- group 2
Roll no 137 (roll no 237 group 7)

CUSTOMER RELATIONSHIP
MARKETING

Managing Customers

What is Marketing Management?

Marketing management is the
art and science of choosing target
markets and getting, keeping, and
growing customers through creating,
delivering, and communicating
superior customer value.

Marketing Mix and the Customer

Four Ps
Product
Price
Place
Promotion

Four Cs
Customer solution
Customer cost
Convenience
Communication

New Mix Areas: Relationship

Product policy: Value determined by Interactions
- relationship specific offering
Pricing: Each relationship is an investment in the
customer Lifetime Value
Communication: Learning from the
communication with customers- From
Monologue to Dialogue
Distribution: The moment of truth

Relationships

CRM BRAND
CRM- Strategy
CRM- Employee engagement
CRM- Finance
Others

Customer Relationship Management

Process of creating and maintaining relationships
with business customers or consumers
A holistic process of identifying, attracting,
differentiating, and retaining customers
Integrating the firms value chain to create
enhanced customer value at every step
An integrated cross-functional focus on improving
customer retention and profitability for the
company.

CRM is a holistic approach that

utilises customerss insight

The use of information-enabled systems for enhancing individual customer

relationships to ensure long-term customer loyalty and retention and Profitability

CRM Objectives
Lifetime Value (LTV)
Refers to the net present value of the potential revenue
stream for any particular customer over a # of years
Starts with current purchase activity then extrapolates to
include potential additions from cross-selling, upgrades,
total ownership, etc.
Customer Ownership
Attempts to own the lionshare of customer spending
and/or share of mind in a particular product category
Building brand equity, maintaining vigilant customer
contact, keeping current with the market trends is critical
5% points increase in customer retention=20-125%
increase in profit

Customer Equity
Customer Equity is the present value of the
anticipated revenue the company customers
will generate minus their acquisition and
retention costs.
Three measurable components:
Customer acquisition
Customer retention
Cross sell or up-sell to existing customers

Types of CRM
Strategic: It is a core customer centric business
strategy that aims at winning and keeping profitable
customers.
Operational: automation of customer facing
processes e.g. selling etc
Analytical : intelligent mining of customer related
data for strategic or Tactical purposes
Collaborative: It applies technology across
organizational boundaries with a view to optimizing
company partner and customer value.

CRM as a set of cross functional process

Seven Questions of Customer Analysis

1. Who are they?
2. What do they do with our product?
3. Why and how do they buy?
4. When do they buy?
5. Where do they buy?
6. Will current customers buy again?
7. Why do potential customers not buy?