Transcript
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Module: Strategic MarketingInstructor: Bilal Ahmad
LECTURE: Strategic Customer Management: systems, ethics, and socialResponsibility
Introduction
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• Pivotal role of Customer Relationship
Management .
• To develop a CRM strategy.
• Value creation process
• CRM and Strategic Marketing
• Ethics and social responsibility in Strategic
marketing
• Customer value and strategic marketing
Learning Outcomes
Powerpoint Templateshttp://www.dmnews.com/direct-line-blog/the-secret-to-a-great-customer-experience/article/340114/
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• CRM and Strategic planning are vital for
Strategic initiative for improving
organizational performance.
• Customer responsive strategy for
competitive advantage:
– Superior customer value by personalized
interaction
PIVOTAL ROLE OF CUSTOMER RELATIONSHIP MANAGEMENT
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• Customer responsive strategy for
competitive advantage:– Demonstration of company trustworthiness and
reliability
– Tighten connection with customers
– Coordination of complex organizational
capabilities around the customer.
PIVOTAL ROLE OF CUSTOMER RELATIONSHIP MANAGEMENT
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• CRM in perspective– Unified and cohesive view of the customer
– Enhancement of customer service
– creation and use of customer database for
decision making
PIVOTAL ROLE OF CUSTOMER RELATIONSHIP MANAGEMENT
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• CRM Consist of three elements:– Identifying, satisfying, retaining, and maximizing
the value
– Wrapping the firm around the customer
– Creating full picture of customer
CRM in prespective
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• Information technology era (customer
information):
– Segmentation
– Account management
– Marketing applications
– Customer level responses
CRM and database marketing
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• CRM technology should contains:– Transaction
– Customer contacts
– Descriptive information
– Response to marketing stimuli
CRM and database marketing
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• Customer lifetime value (CLV) calculates past profit produced by the
customer for the firm – the sum of all the margins of all the products
purchased over time, less the cost of reaching that customer.
– To this is added a forecast of margins on future purchases
(under different assumptions for different customers), discounted
back to
their present value.
– This process provides an estimate of the profitability of a
customer during the time span of the relationship.
– The CLV calculation is a powerful tool for focusing marketing
and promotional efforts where they will be most productive.
CUSTOMER LIFETIME VALUE
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• CRM Levels
– Customer facing level
– Company wide level
• CRM Strategy Development– Organizational commitment to CRM
– The Project Team
– Business need analysis
– CRM strategy
Developing a CRM strategy
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• CRM Implementation
– Successful implementation
– Causes of failure
• http://www.crmtrends.com/crm.html
Developing a CRM strategy
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• Customer value– Value proposition
• Explanation of relationship among product
performance, fulfillment of customer needs and total
cost.
• value received by organization
• CRM and value chain strategy
Value creation process
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• Implementation
• Performance metrics
• Short term versus long term value
• Competitive differentiation
– Lack of competitive advantage
– Information of competitive advantage
CRM and strategy marketing
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• Corporate reputation– Ethical imperatives
– Defining ethical standards
– Drivers of Ethical demands
– Proactive responses by firms
Ethics and social responsibility
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• Organizational involvement
• Organizational culture
• Assessment of responsibility
• Ethics code
• Guidelines and operating process
• Actions
Ethics and social responsibility
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• Monitoring and control
• Corporate social responsibility initiatives
• Defining CSR
• Drivers CSR
• Defensive CSR
• Strategic CSR
• Creating shared value
Ethics and social responsibility
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•Show respect in the workplace•Act with integrity in the marketplace•Ensure ethics in our business activities•Perform work responsibly for our shareholders
PEPSI
Pepsi Ethics PolicyOur Global Code of Conduct: Doing Business the Right
Way.
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• Example GOODGUIDE website:– Online database of verified information
regarding health, environmental and social
impacts.
• Social and business goal
• Value preposition base for competitive
advantage
Customer value and competitive positioning
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