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MADE BY: ADITI

GOYAL

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1. NEED

2. WANT/DESIRE

3. DEMAND

4. MARKET

5. MARKETING.

BASIC KEY TERMS

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NEED,WANT/DESIRE,DEMAND

NEED: It is a basic necessity without which a

person cannot exist. E.g.:-Water, Food, Air, etc..

WANTS/DESIRE : It is something that you decideto get but without which you can survive and

exist. Eg.:- Car , A.C , etc..

DEMAND :Is that want of us for which we havepurchasing power for it.

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MARKET & MARKETING

MARKET: A market is public gathering held for

buying and selling merchandise(product).A place

where goods are offered for sale.

MARKETING: It is an organizational function and

set of processes for creating, communicating, and

delivering value to the customer and for

managing customer relationship in way thatsbenefits the organization and its stake holder.

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MARKETING MIX OF 7Ps

1. PLACE

2. PRODUCT

3.PRICE

4. PROMOTION

5. PHYSICAL

EVIDENCE

6. PEOPLE

7. PROCESS.

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Customer Relationship Management

CRM is a comprehensive strategy and process

of acquiring, retaining, and partnering with

selective customer to create superior value for

the company and the customer.

CRM processes that help form individualized

relationships with customers (to improve

customer satisfaction) and provide the highest

level of customer service to the most

profitable customers.

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Why does the organization need CRM?

The ultimate purpose of CRM, like any organizationalinitiative, is to increase profit.

CRM not only improves the service to customers but also a

good CRM capability will also reduce costs, wastage, and

complaints.

Its a opening lines of communications with your customers

gives you direct constant market reaction to your products,

services and performance, far better than any market survey.

Good CRM also helps you grow your business: customers stay

with you longer; referrals to new customers increase from

increasing numbers of satisfied customers.

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Components of CRM

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Characteristics of excellent CRM

The following characteristics areassociated with delivery of excellentCRM:

Reliability

Responsiveness Safety

Courtesy

Consideration

Communication Recognizing the customer

Competence

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Benefits of effective CRM

Reduced costs.

Increased customer satisfaction, because

they are getting exactly what they want

(i.e.., exceeding expectations).

Growth in numbers of customers .

Maximization of opportunities (eg.,

increased services, referrals, etc.).

Increased access to a source of market

and competitor information.

Long term profitability and sustainability.

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Types of CRM

1. Operational CRM: Its also known as Front office CRM.E.g.- to sales, marketing and service staff.

2. Analytical CRM: Its also known as Back office CRM.

E.g.- Hr manager.

3. Collaborative CRM: It is an approach to (CRM) in whichthe various departments of a company, such as sales,

technical support, and marketing, share any information they

collect from interactions with customers by using Personal

interaction, letter, fax, phone, Internet, e-mail etc. Forexample, Customer feedback gathered from a technical

support session could inform marketing staff about products

and services that might be of interest to the customer.

http://searchcrm.techtarget.com/definition/CRMhttp://searchcrm.techtarget.com/definition/CRM

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