Summary
Summary
- Marketing practices have evolved over the last few decades. Starting with product centric approach, segment centric and then customer centric approach in the early 1990s.
- The focus on customer centricity is to create a positive experience for a customer at every stage of her journey.
- Market share is a firms sales in volume or value divided by industry sales in volume or value.
- A market share orientation is represented on the two dimensions of needs satisfied and customers reached.
- In customer share orientation, firms try to meet all related needs of their customers, even if they have to make new offerings.
- Lifetime value is the net profit of an individual customer over his lifetime.
- Activity based costing is used to assess the actual cost of serving a customer.
Class Sessions
1- Benefits of CRM
2- Marketing Benefits
3- Service Benefits
4- Benefits to Customers
5- Learning Goals
6- Four Types of Bonds
7- Types of Defectors
8- Strategies to reduce customer defections
9- CRM Framework -Switching
10- CRM Framework -Satisfaction
11- CRM Framework -Trust
12- CRM Framework -Commitment
13- CRM Framework -Loyalty
14- Summary
15- Additional Resources
16- summary
17- Additional Resource
18- Characteristics of Service
19- Customer Defection in Service
20- Summary and additional Resources
21- Sales Force Automation