Sunday, 2 July 2017

MK0015 –Services Marketing and Customer Relationship Management

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Master of Business Administration- MBA
MK0015 –Services Marketing and Customer Relationship Management
Credit & Marks

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Question.1. Discuss the issues that need to be addressed by a firm before it sets out targeting goals.

Answer:To achieve project goals, you must have clear written targets and communicate them to every member of your team. Most construction companies get awarded jobs and start them in a hurry without a plan for success. You’ve heard the expression, ‘haste makes waste.’ Proceeding without clear targets or plans will cause you to miss opportunities and not achieve the bottom-line results you want.

After you get awarded a contract, take time to review the job, set some project goals and develop a plan to finish your project successfully. Take an hour and gather your company project team together to map out a plan to make your project a success. First, determine which of your company’s team members will help you hit your goals.

Question.2. Briefly discuss Service Marketing Mix with suitable examples.

Answer:Marketing is a continually evolving discipline and as such can be one that companies find themselves left very much behind the competition if they stand still for too long. One example of this evolution has been the fundamental changes to the basic Marketing mix. Where once there were 4 P’s to explain the mix, nowadays it is more commonly accepted that a more developed 7 P’s adds a much needed additional layer of depth to the Marketing Mix with some theorists going even going further.

Marketing strategy has the fundamental goal of increasing sales and achieving a sustainable competitive advantage. Marketing strategy includes all basic, short-term, and long-term activities in the field of marketing that deal with the

Question.3. Describe the Howard Sheth model of customer Behaviour.

Answer:Howard-Sheth model is one of models that represent consumer behaviour on the market. It attempts to explain the rationality of choice of the product by the consumer under conditions of incomplete information and reduced processing capability. It analyses the external symptoms of behaviour, reactions and thought processes that cannot be subject to direct observation.

Howard and Sheth model of consumer behaviour variables

Question.4. What are the uses of IT in the Education & Banking sector?

Answer:Computers have become an essential part of modern human life. Since the invention of computer they have evolved in terms of increased computing power and decreased size. Owing to the widespread use of computers in every sphere, Life in today’s world would be unimaginable without computers. They have made human lives better and happier. There are many computer uses in different fields of work. Engineers, architects, jewelers, and filmmakers all use computers to design things. Teachers, writers, and most office workers use computers for research, word processing and emailing. Small businesses can use computers as a point of sale and for general record keeping.

Question.5. Describe the nature of service marketing.

Answer:The world economy nowadays is increasingly characterized as a service economy. This is primarily due to the increasing importance and share of the service sector in the economies of most developed and developing countries. In fact, the growth of the service sector has long been considered as indicative of a country’s economic progress.

Economic history tells us that all developing

Question.6.Write short notes on:

a) e-CRM

Answer: The eCRM or electronic customer relationship management encompasses all the CRM functions with the use of the net environment i.e., intranet, extranet and internet. Electronic CRM concerns all forms of managing relationships with customers making use of information technology (IT). eCRM is enterprises using IT to integrate internal organization resources and external "marketing" strategies to understand and fulfill their customers needs. Comparing with traditional CRM, the integrated information for

b) Customer Life Cycle

Answer:In customer relationship management (CRM), customer life cycle is a term used to describe the progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product or service. Marketing analysts Jim Sterne and Matt Cutler have developed a matrix that breaks the customer life cycle into five distinct steps: reach, acquisition, conversion, retention, and loyalty. In layman's terms, this means getting a potential customer's attention, teaching them what you have to offer,

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