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Marketing management, services marketing, customer relationship retention at Hyundai Motor India Ltd", Emerald Emerging Markets Case Studies, (). Customer Relationship Management: A key Success Factor in Services Marketing. (A Case Study of Tourism (Hotel) Services in Navi Mumbai). Ms Vani Indian hotel system, there is a great change in the future hotel market scenario. IT and CRM: A case study of State Bank of India customers by making use of modern technology and Customer Relationship Management.
With people not ready to invest, the insecurity had forced many fresh orders to be cancelled. The security forfeited is nothing in comparison to the damage done if the vehicle is already in assembly, especially if it is to be produced in rare colors.
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The volume of transactions gave marginal profits, but still secured business. Now the manufacturers had reduced their orders since the setups were low.
This led to inventory pileup and ate up whatever was left of the profit.
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The manufacturer was not at ease either. They had to keep producing the minimum at breakeven volumes. Employees were forced to take leaves and high finished goods inventory was left. Whereas the manufacturers were shutting down the production for days, the sales wing was in deep pressure to deliver targets despite customer pockets getting smaller.
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The dealer was in the most uncomfortable chair in the system. In the whole buying process, after taking the booking amount, the dealer takes money from financial institutions in order to buy the vehicle from the factory. According to one of the dealers: The booking amount which we take is much less than what is the money we take at risk from banks. The vehicle itself takes around at an average days to reach and all this time and till we get the money from customer we bear the cost of the costly cars.
The sales team also now delivers in an incentive mindset which is an added cost to every sale Appendix 2. The dealer also had to invest in local advertising campaigns, as well as vehicle test drives. With all this they still had to maintain the standards of the company.
Top Setting The Stage The company had made a huge effort in bringing out the product. Customers in various cities were reached and the needs were identified, which were then summed up in designs and models. These were made with about 80 colors and 5 variants.
The executive boards selected 6 colors and 3 variants. The offering created a new perspective niche in the market. The companies already existing models have gone through regular upgrades and were nearing the end of growth stage.
CRM strategies and systems were expected to work towards remembering birthdays, anniversaries and maintain a shopping trail for the retailer to follow.
A Line in Water: A Case of Customer Relationship Management
Some were using CRM systems just to handle feedback and service. Today however, CRM systems have evolved and turned more intelligent in line with the evolution of the retail segment as a whole.
Personalised experiences are the order of the day — across buying, dormancy and repeat buying cycles. The focus on experience personalisation has led retailers to experiment with newer models of customer involvement and many are talking about co-creation — indeed a significant jump from where Indian retailers were a few years back.
The customer is no longer just a source for feedback but an active participant in defining the entire customer lifecycle.
At the heart of this transformation lies the desire to retain customers for the longest possible tenure while bagging a significant wallet share. CRM has evolved as a platform to deliver this and more. Intelligent CRMs have gone a step further by automating many tasks needing human intervention.
This includes profiling, relationship value analysis, campaign planning and execution, feedback analysis, data validation and social media engagement — all done with due diligence and personalisation. Any talk of co-creation or higher forms of customer engagement is incomplete without gamification.
Bidding, online gaming and other forms of engagement are actively improving sales and conversions.