CRM Session 1[2]
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Transcript of CRM Session 1[2]
![Page 1: CRM Session 1[2]](https://reader036.fdocuments.pl/reader036/viewer/2022083118/577cce6e1a28ab9e788e0e25/html5/thumbnails/1.jpg)
CRM
The
Strategic
Imperatives
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Early Adopters B2C
• Financial Services• Retailing• Telecommunication• Travel & Hospitality
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CRM vendors
• Oracle Siebel• SAP• Salesforce• Microsoft Dynamics• Talisma
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Enablers for growth of CRM
• Emergence of service economy
• Emergence of market economy
• Global orientation of business
• Aging population – developed economies
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Emergence of service economy
• US Service sector (79.7% GDP and 80% workforce) -2012
• 60-70% of GDP of economically advanced nations (UK – 78.3% in 2012)
• 2010 – service Sector 55.2% GDP in India• Agricultural - industrial Mfg services• Services: Close to the customer
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GDP sector wise in % Agriculture Industry Service
90-91 32 27 41
05-06 20 26 54
07-08 17 29 54
09-10 18.5 26.3 55.2
Indian GDP: $1.842 trillion (2012) –World Bank
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Emergence of Market Economy
• Controlled Market• Deregulation
Lifting FDI restrictions to lure foreign investmentBanking, Broadcasting, Telecommunications opened
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Global Orientation of Business
• Borderless world• GATT – WTO
• Indian being a member of WTO several countries are now trading with India, thus giving a boost to production, employment, standard of living and an opportunity to maximize the use of the world resources.
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Aging population – Developed Countries
• 12.6% above 65 years USA (2000)• 17% above 65 years Japan & Sweden
India's older population is projected to quadruple by 2050, while that of the world is expected to triple (1.53 billion) - US Census Bureau
Needs are different• Wellness, Financial well being, security• Ever changing needs of customer
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Non Traditional Competition(New Challenges)
• Porter Model• New Entrants• Substitute• Supplier becoming a competitor• Customer becoming a competitor
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Non Traditional Competition(New Challenges)
• Market Maturity• Developed Countries -- Capacity utilisation• Agriculture, Automotives, aircrafts• New Market search
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Non Traditional Competition(New Challenges)
• Misalignment between revenue and profit• Customer Subsidisation for market share
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Why CRM?
Rising Customer Expectations• Increasing affluence amongst economies• Greater awareness due to media• Customer diversity
Technological Advances• Production Techniques CAD CAM• Distribution CALS• Internet
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CRM Definition 1
‘a process that addresses all aspects of identifying customers, creating customer
knowledge, building customer relationships, and shaping their perceptions of the
organisation and its products’
Source: Gartner.
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CRM Definition 2
‘Building and sustaining customer and infrastructure relationships. It is the
integration of customers in the company’s design, development, manufacturing and sales processes.… All employees need to
be in the business of building CRM’
Source: McKenna.