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NMIMS Global Access
School for
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Customer-relationship-management-sep-2020
1. Formulate a
mission statement for your organization using the Ashridge model.
Answer: Mission of the organization
The
mission of a company is very important for a company’s successful performance
not only for the short term, but also in the long run. The mission oaf company
is not vague as the vision and is designed to ensure that those belonging to
the company work together with a uniform purpose. It is slightly more specific
and sets apart one company from the other companies in the same area of
business. The mission identifies the scope of the company’s operations;
describes the company’s product, market and technological areas of thrust; and
reflects the values and priorities of its strategic decision makers. The
mission of a business looks towards an endless future as if the firm were
immortal.
The
mission statement is formulated after thinking a lot and with great caution
keeping in mind the basic product of the company
2. How does the
segmentation criteria and technique proposed by Kotler in 2003 facilitate
relationship-based marketing?
Answer: Relationship marketing
Building
relationship with the customers is an important part of business transactions.
Of late, marketers have realized its relevance and are now focusing on
relationship marketing. It is an approach that focuses on developing a series
of transactions with consumers. A marketing manager must formulate strategies
that can build profitable relationships with the target consumers. Things are
continuously changing in terms of business and social changes, customer related
changes, and changes in manufacturing and marketing organizations. Therefore, the
organisations should select their marketing orientation considering these
factors.
Market
segmentation by Kotler
The importance of market segmentation is established by the fact that the
buyers of a product or a service do not belong to the homogenous group. Unreality,
every buyer has got specific needs, preferences, resources, and behaviors.
Since it is almost impossible to cater to every customer’s
3.
You are a subject matter expert in CRM and you have to give the key note
address on a webinar during COVID pandemic to your customers and competitors on
‘The Future of CRM’.
a.
What aspects will you include in your keynote address that will impact the
future of CRM?
b.
If an audience members ask you how do you foresee the continuation of the
journey, how would you respond?
Answer: a) Customer relationship management (CRM) has to be
focused on aligning the business processes with customer strategies employed by
the firm. Customer relationship management can be very useful if it works. It
allows companies to gather customer data and identifies the most valuable
customers over time and increases customer loyalty by providing customized
products and services. It also reduces the cost of serving these customers and
makes it easier to acquire similar customers. But a CRM can not only fail to
deliver its intended benefits, it can also damage longstanding customer
relationships. The biggest problem is the Dear students, get
fully solved assignments by professionals
Do send your query at :
or call us at
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