By Group A

What is value creation ?

providing products and services to customers that are

a greater value than they could expect from purchases from competitive companies in similar markets

Conti..
The value creation process consists of three key elements: Determining what value the company can provide to its customers (the value customer receives) Determining the value the organisation receives from its customers (the value organisation receives) by successfully managing this value exchange, maximising the lifetime value of desirable customer segments

Conticompanies the value creation means : For many

How much money can we extract from the customer?
How can we sell them more of the existing products

and services they are buying? How can we cross-sell them new products and services

Case study friends first : building the customer centric organization

Introduction: it is a leading financial service group in

Ireland and division of EUREKO ALLIANCE , in 1998 the new group identity was launched Services : insurance , banking ,and investment product Customers 2,20,000 Total asset 4.5 billion euro

Conti
Today company have three businesses : Friend first finance Friend first life Friend first international Range of product :pension , permanent health , saving

and investment plans , personal lending , and motor finance .

Issues in friend first

Staffs are policy centric not customer / broker
The organization structure was internal requirement

of demand not customer need

IT platform was complex

Objectives
To solve the problem : Customer service core strategy if we look after our customer better then the competition than everything else that is important will follow Group distribution strategy 3 Different broker segment

Corporate and large Small and medium Retail financial institution

Making relationship with brokers New integrated system

Conti..
Brand positioning
Customer knowledge Product range and general principle

Sales and distribution channel

Servicing and sales support

The CRM solution

Created customer service centre Single integrated view customer / broker all business Be flexible to accommodate changes in business strategy Evolve the product and service portfolio through learning

SWOT analysis