Customer Relationship Management Concept Strategy And Tools 3rd Edition V. Kumar , Werner Reinartz - Solutions

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3. What are the barriers to increased cooperation between the companies?
2. If DPWN creates an integrated key account management system, which key processes need to be integrated across the three companies?
1. How would one define and measure the potential for cross selling in this context?
5. What customer backlashes can be expected when a company introduces CRM practices?What are the cautionary steps that you would advise companies to take to avoid these?
4. What analysis is involved in assessing the value of a customer?
3. What are the various components of the CRM architecture from an operational perspective?
2. What are advantages and disadvantages when implementing CRM on an organizational basis versus on a limited functional basis (e.g., sales force only)?
1. What factors will you consider when measuring the ROI of CRM investments?
3. Implementation projects that deploy the operational and analytical outputs to improve marketing decision and customer relationships
2. Analytical projects, whose objective is to obtain a good understanding of the customer’s needs, expectations, and behaviors
1. Operational CRM projects that enable the company to meet the technical and functional requirements of the CRM strategy
Integrated process management through CRM provides instant updates about inventory levels, customer complaints, recommendations, and so on. In turn, sales and production strategies can be updated quickly and efficiently.
Although some of IBM’s competitors have been implementing Siebel solutions, none has a full-scale CRM implementation covering as many people and functions as IBM’s system.
The On-Demand operating environment establishes an ability to provide customized solutions, available on an immediate and, if desired, piecemeal basis.
Transformed contract management process to more efficient and simpler procedures.As of today, IBM estimates its internal CRM implementation has provided it with $2 billion in cost reductions
Decreased time to complete the sales cycle and serve a customer. (These times also are lower than competitors’, so IBM serves its customers faster.)
A top-ranking position for IBM in the IT area, according to a recent survey by Forbes.
Enhanced partnership management.
Better forecast accuracy and reporting.
Improved sales management effectiveness, reflected in tighter management controls and proactive sales coaching.
Higher customer satisfaction through better responsiveness and ease of doing business.
Greater awareness of market dynamics and the elimination of integrated legacy applications.
Improved sales productivity, effectiveness, and channel integration.
Build a fully integrated IT infrastructure to support the business vision and reduce the total cost of operations.
Focus on core capabilities while shedding its less profitable or nonstrategic business activities.
Share information and collaborate easily internally and across the entire value chain.
3. The impact of learning and innovation. The enhanced learning and innovation resulting from CRM add more value by reducing the cost incurred by the company through higher marketing effectiveness and improved products and services delivered to customers.
2. Reference and referral effects. The preceding calculations alone cannot justify ROI. If the company is investing more to satisfy the needs of customers, there should be a significant impact in the form of increased customer acquisition through referral. Thus a value must be placed on new
1. The planned increase in the economic value of the customers over the duration of their connection with the company. The lifetime value, risk involved in unlocking that value, and growth potential by a customer segment should be considered.
How are you involved in lead tracking, lead follow-up, data transfer, and other daily actions, and how can these processes be improved?
What are your reporting needs and requirements?
How involved are you in outreach activities such as telemarketing and direct mail?
How can you reduce administrative and scheduling requirements that detract from the time available to build relationships?
How can you improve your communication with customers and management?
What data can be made available to help you better understand customers?
3. Does your CRM system provide feedback and improve on the learning from past interactions?
2. Do processes continually align customer needs and customer value with the offer proposition?
1. Do you have systematic testing in place to rationalize product development and marketing spending?
3. Are the processes configured such that the learning from outcomes applies to make process improvements?
2. Are its various processes in the value chain synchronized to maximize value to the customer?
1. Does the company have a clear understanding of the desired value of the target customers?Do its processes produce this value?
4. CRM strategy implementation
3. Information capture and the alignment of technology
2. The integration and alignment of organizational processes
1. A customer management orientation
4. Does the company recognize that customers differ in their needs and in their value to the firm? Is that reflected in its interaction with customers?
3. Does the company attempt to establish win–win relationships with customers?
2. Does the entire organization engage in the implementation of this philosophy?
1. Does the top management subscribe to a customer-centric philosophy, and does it show?
7. Explain what we have learned in the last few years about the satisfaction-loyalty chain?
6. Companies want relationships with customers, but do customers want relationships with companies? Please discuss.
5. Illustrate situations where you think companies are following CRM practices. Point out where they are going wrong.
4. What is the distinction between traditional database marketing and a customer valuebased approach toward database marketing?
3. What makes CRM the preferred approach to marketing in the Information Age?
2. How are CRM activities similar/different from marketing activities? Please discuss.
1. How do you define CRM?
Reactivation of dormant customers
Acquisition and retention of profitable customers
Improvement in profits and ROI
Maximization of revenues
Decrease in costs
How do you maximize the return on marketing investments?
How do you optimally allocate marketing resources to maximize customer value?
How do you measure customer lifetime value?
How do you compute the future profitability of a customer?
How do you link loyalty to customer profitability?
When does it pay to go after customer loyalty?
10. Instantly react to changing market environments.To understand the development toward dataoriented customer value management, it is helpful to take a closer look at the evolution and growth stages of CRM in recent years.
9. Give top managers a detailed and accurate picture. All members of the top management team should be aware of all sales and marketing activities.
8. Manage all business processes. The firm should introduce a central point of control to ensure all business processes are executed in accordance with predetermined, effective business rules.
7. Yield faster and more accurate follow-up.Such efforts include sales leads, referrals, and customer inquiries.
6. Generate and manage campaigns. Companies should provide sufficient flexibility to adapt to changes in customer information or behavior.
5. Automatically and manually generate new sales opportunities. Measures of customer profiles can rely on predefined business rules or contact between a customer and an employee.
4. Personalize. If possible, personalization should span both the service and products offered to each customer to satisfy his or her special expectations.
3. Manage customer cases. This action provides the right person with management control in a planned and transparent manner, ensuring that appropriate responses occur at the proper time.
2. Provide consolidated information across all channels. The entire company must assist in timely and relevant communication with customers, matching their needs with the most appropriate product.
1. Integrate and consolidate customer information.With relevant customer information and client histories, the treatment of a customer remains consistent across contact and service channels.
How can firms optimally allocate marketing resources to maximize customer value?
What is a good measure of customer lifetime value?
How can we compute the future profitability of a customer?
How does loyalty link to customer profitability?
When does it pay to pursue customer loyalty?
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4. Implementation of CRM strategy.
3. Capture of information and alignment of technology.
2. Integration and alignment of organizational processes.
1. A customer-management orientation.
Do you agree with this statement? If not, which customer segment(s) should managers focus on, and why?
5. «By focusing referral program efforts only on the high value customers, it is possible for companies to increase their CRV. »
4. Should we invest in building brand value or customer value?
3. What are the important questions companies should think about in order to develop a successful proactive intervention strategy?
2. Discuss the relative importance of the customer acquisition and retention processes from the perspective of customer lifetime value.
1. Consider a multiproduct company and discuss the likely sequence in which the average customer would buy these products. Why do you think an average customer may not be the best way to consider this problem?
5 Brand behavior: Made up of a customer’s repeat-buying behavior (brand loyalty), relationship with other customers of the brand(brand advocacy), and willingness to pay a price premium over other brands (brand price premium behavior).
5 Brand attitude: Made up of a customer’s trust in the brand (brand trust) and a customer’s emotional response towards the brand (brand affect).5 Brand behavior intention: Made up of a customer’s intention to purchase a brand(purchase intention).
5 Brand knowledge: Made up of a customer’s awareness of the brand (brand awareness)and a customer’s image of the brand (brand image).
4. Discuss the effect of a lost customer on a firm. How would you capture and quantify this effect?
3. In the credit card industry, what drivers of profitable lifetime duration would you expect?

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Customer Relationship Management Concept Strategy And Tools 3rd Edition V. Kumar , Werner Reinartz - Solutions

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