7/28/2019 Customers and Customer’s Exjkgugpectations http://slidepdf.com/reader/full/customers-and-customers-exjkgugpectations 1/55 RW TOPIC 4 1 Customers and Customer’s Expectations Some examples of “customer” definition1. “Recipient of a product provided by the supplier” and “the customer can be either internal or external to the organization” * internal refers tofunctional levels of the org vs. individuals (AS/NZS ISO 8402:1994,p2) – GENERIC definition 2. “ The term (customer) applies in both the internal and external sense and means the recipient of an item or service” (Stebbing 1990: 172) – GENERIC definition 3. “Any person or enterprise who has valid expectations about the final outcomes of a building or construction project such as the building owner, building manager,tenants ,.” (CIDA 1993:172) CONSTRUCTION definition
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7/28/2019 Customers and Customer’s Exjkgugpectations
• Customer satisfaction, a term frequently used in marketing, is a measure of howproducts and services supplied by a company meet or surpass customerexpectation. Customer satisfaction is defined as "the number of customers, orpercentage of total customers, whose reported experience with a firm, its
products, or its services (ratings) exceeds specified satisfaction goals."[1] In asurvey of nearly 200 senior marketing managers, 71 percent responded that theyfound a customer satisfaction metric very useful in managing and monitoringtheir businesses.
• Customer Delight The very favorable experience of the client of a business when they have received
a good or service that significantly surpasses what they had initially anticipated. Amarketing department can use instances of customer delight to a company'sadvantage by requesting referrals and obtaining testimonials from delightedcustomers that can help attract new customers.
• Customer Intimacy
• Customer intimacy is a concept from marketing, which describes the ability of a
supplier to become accepted and known as the regular partner with its customer.Customer intimacy creates a virtuous circle: the better the supplier knows thecustomer company with its objectives and difficulties, the better able he is toprovide an optimal solution.
• The more adapted the supplier's product or service is, the happier the customerwill be, and the stronger the "intimacy" between the two parties.
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What is CRM?• CRM “is a business strategy that aims to understand,
anticipate and manage the needs of an organisation’scurrent and potential customers” (1).
• It is a “comprehensive approach which providesseamless integration of every area of business that
touches the customer- namely marketing, sales,customer services and field support through theintegration of people, process and technology” (1)
• CRM is a shift from traditional marketing as it focuseson the retention of customers in addition to theacquisition of new customers (2)
• “The expression Customer Relationship Management(CRM) is becoming standard terminology, replacingwhat is widely perceived to be a misleadingly narrow
term, relationship marketing (RM)” (3).
7/28/2019 Customers and Customer’s Exjkgugpectations
•“Today’s businesses compete with multi-product offerings created and deliveredby networks, alliances and partnershipsof many kinds. Both retaining customers
and building relationships with othervalue-adding allies is critical to corporateperformance” (3).
• “The adoption of C.R.M. is being fuelledby a recognition that long-termrelationships with customers are one of the most important assets of an
organisation” (2)
7/28/2019 Customers and Customer’s Exjkgugpectations
- discover the relative priorities of quality- compare its performance with competition- identify customer needs- determine opportunities for improvement
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• Enables a personalized relationship with customers
• Offers integrated customer information from all departments
into one centralized knowledge base• Has a totally integrated, customer-centric approach
• Employs e-business technologies to extend customer serviceand offers a variety of solutions tailored to your specificneeds
• What exactly can e-CRM do for you?• Today your customers want access to your company 24 hours
a day. They want to know when their orders were shipped,and what their account balances are. They want salespeopleand call-centre representatives who can answer their
questions right now. Today, more than ever before, it isessential for a company to excel at every single customercontact point, be it at the retail-point, in the call-centre, viathe Internet, or through sales and service agents. e-CRMmakes all this possible, and viable.
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• The company's representatives across all contact points to retrievecustomer data from anywhere, anytime
• Personalized service to each customer, based on individual wants
• More ways than one to reach and service customers
• Increased customer satisfaction, leading to higher customer
retention• Customized solution for your customers business requirements
• Hence e-CRM can lead to enhances customer experience,identification and retention of the most profitable customers,increased market share, reduced costs of customer servicing . and
ultimately a greater return on your e-CRM investment. E-CRM isrelevant across the entire spectrum of businesses, where customersatisfaction is critical.
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• Technology plays a pivotal role in CRM (2).• Technological approaches involving the use of databases, data
mining and one-to-one marketing can assist organisations toincrease customer value and their own profitability (2)
• This type of technology can be used to keep a record of customers names and contact details in addition to theirhistory of buying products or using services (2)
• This information can be used to target customers in apersonalised way and offer them services to meet theirspecific needs (2)
• This personalised communication provides value for thecustomer and increases customers loyalty to the provider (2)
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Here are examples of how technology can be used to createpersonalised services to increase loyalty in customers:
• Phone calls, emails, mobile phone text messages, or WAP services(2):
Having access to customers contact details and their service orpurchase preferences through databases etc can enable organisationsto alert customers to new, similar or alternative services or products
- Illustration: When tickets are purchased online via Lastminute.com,the website retains the customers details and their purchase history.
The website regularly send emails to previous customers to informthem of similar upcoming events or special discounts. This helps toensure that customers will continue to purchase tickets fromLastminute.com in the future.
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• Cookies“A “cookie” is a parcel of text sent by a server to a web browserand then sent back unchanged by the browser each time itaccesses that server. HTTP cookies are used for authenticating,tracking, and maintaining specific information about users,
such as site preferences and the contents of their electronicshopping carts” (5). - Illustration: The online store, Amazon, uses “cookies” to
provide a personalised service for its customers. Amazonrequires customers to register with the service when theypurchase items. When registered customers log in to Amazon
at a later time, they are ‘greeted’ with a welcome messagewhich uses their name (for e.g. “Hello John”). In addition, theirprevious purchases are highlighted and a list of similar itemsthat the customer may wish to purchase are also highlighted.
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• Loyalty cards“the primary role of a retailer loyalty card is to gather data about customers. This inturn leads to customer comprehension and cost insights (e.g. customer retentionrates at different spending levels, response rates to offers, new customer conversionrates, and where money is being wasted on circulars), followed by appropriatemarketing action and follow-up analysis” (6)
- Illustration: The supermarket chain, Tescos, offers loyalty cards to its customers.When customers use the loyalty cards during pay transactions for goods, details of the purchases are stored in a database which enables Tescos to keep track of all thepurchases that their customers make. At regular intervals, Tescos sends its customersmoney saving coupons by post for the products that the customers have bought inthe past. The aim of this is to encourage customers to continually return to Tescos todo their shopping
• CRM software- “Front office” solutions
- “Many call centres use CRM software to store all of their customer's details. When acustomer calls, the system can be used to retrieve and store information relevant tothe customer. By serving the customer quickly and efficiently, and also keeping allinformation on a customer in one place, a company aims to make cost savings, andalso encourage new customers” (7)
D li i C S i i C b CRM
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• Electronic commerce, commonly known as e-commerce, isa type of industry where buying and selling of product orservice is conducted over electronic systems such as theInternet and other computer networks. Electroniccommerce draws on technologies such as mobilecommerce, electronic funds transfer, supply chainmanagement, Internet marketing, online transactionprocessing, electronic data interchange (EDI),inventorymanagement systems, and automated data
collection systems. Modern electronic commerce typicallyuses the World Wide Web at least at one point in thetransaction's life-cycle, although it may encompass a widerrange of technologies such as e-mail, mobile devices socialmedia, and telephones as well.
• Electronic commerce is generally considered to be the salesaspect of e-business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions.
• Harnessing the power of the Internet to drive a closerrelationship with customers should be the goal of
every business. Over the last several years, manycompanies who invested in CRM and e-Commercetechnology lost their way as they believed it was anelectronic panacea designed to eliminate the need to
talk to their customers and orders would just flow inbecause they had a shopping cart on their website withcolorful product images. E-Commerce and CRM aretools designed to learn more about customers, theirpreferences and a clever way to market and re-marketto them. However, most importantly, these tools areand should be a convenience for your customer, notyour company.
Understanding E Customers
7/28/2019 Customers and Customer’s Exjkgugpectations