Professional Documents
Culture Documents
Place:
ACKNOWLEDGEMENT
The project titled A Customer Relationship Management, which is part of the summer
internship program of the MBA course has been successfully completed. I take this opportunity
to thank all the people involved directly or indirectly in making this project a success.
Firstly I would like to thank my external project guide MR. MRITUNJAY KUMAR(director)
at REVENIR DEVELOPMENT SYSTEM PVT. LTD.Delhi for giving me an opportunity to
showcase my skills and talent by making a contribution in the favour of the organisation.
I would like to thank my internal project Guide Prof.Rachitajoshifor her timely & valuable
guidance throughout the project. I am very thankful to the my H.O.D sir Prof. VirendraTatake,
who has been guiding lighthouse and for me. His constant motivation accelerated my
performance and helped me produce great results. Thank you once again to one and all.
Index:
CHAPTERS
TITTLE
CHAPTER-1
INTRODUCTION
CHAPTER-2
INDUSTRY PROFILE
CHAPTER-3
COMPANY PROFILE
CHAPTER-4
LITERATURE SURVEY
CHAPTER-5
OBJECTIVES
CHAPTER-6
RESEARCH METHODOLOGY
CHAPTER-7
CHAPTER-8
CHAPTER-9
CONCLUSION
CHAPTER-10
CHAPTER-11
BIBLIOGRAPHY
PAGE-NO.
CHAPTER -1
INTRODUCTION
Context of Topic
Before we begin to examine the conceptual foundations of Commit will be useful to define, what
is CRM? A narrow perspective of customer relationship management is database marketing
emphasizing the promotional aspects of marketing linked to database efforts. Another narrow, yet
relevant, viewpoint is to consider commonly as customer retention in which a variety of after
marketing tactics is used for customer bonding or staying in touch after the sale is made.
Shani and Chalasani define relationship marketing as anintegrated effort to identify, maintain,
and build up a network withindividuals consumers and to continuously strengthen the network
for mutual benefit of both sides, through interactive, individualizedand value-added contacts
over a period of time.
The core theme of allCRM and relationship marketing perspectives is its focus on co-operative
and collaborative relationships between the firm and itscustomers, and/or other marketing
actors.CRM is based on the premise that, by having a betterunderstanding of the customers
needs and desires we can keep themlonger and sell more to them.
For example, an enterprise might build a databaseabout its customers that described relationships
in sufficient detail sothat management, salespeople, people providing service, and perhapsthe
customer directly could access information, match customerneeds with product plans and
offerings, remind customers of servicerequirements, know what other products a customer had
purchased,and so forth.
The essence of the information technology revolution and, inparticular, the World Wide Web is
the opportunity to build betterrelationships with customers than has been previously possible in
theoffline world.
By combining the abilities to respond directly tocustomer requests and to provide the customer
with a highly interactive, customized experience, companies have a greater ability today to
establish, nurture, and sustain long-term customer relationships than ever before.
The ultimate goal is to transform theserelationships into greater profitability by increasing repeat
purchaserates and reducing customer acquisition costs. Indeed, this revolutionin customer
relationship management or CRM.
Literature Review
In analysing the impact of CRM on todays businesses, it is also useful to take a look
at the newest trendsand developments in the industry to show what further benefits (and further
challenges) are offered bythe latest CRM software packages.In terms of trends in adoption of
CRM, it appears as though CRM has been adopted widely in the UnitedStates. In fact, a survey
of 200 US businesses representing 30 different markets found that 74% of themhad adopted a
CRM platform, with a further 20% of them planning to install a CRM solution within thenext 612 months (Small Business Trends, 2011) .Research also found that many businesses have
recently been adopting on demand SaaS (Software as a Service) solutions. SaaS is a
software delivery model in which applications are hosted by a vendor orservice provider and
made available to customers over a network, typically the Internet (Rouse, 2010).Salesforce.com
is one example of such software. A Gartner report found SaaS solutions represented 24%of total
CRM sales in 2009 (Barrett, 2010).It was predicted by Forrester Research that one of the biggest
new features of CRM implementations is the ability for employees to have CRM in their
pocket, in the form of mobile apps, allowing employeesto do everything from finding a
customers location to knowing what their outstanding payables and support issues are just
before you walk in the door (ApexTwo, 2011).Indeed, in 2009, SalesForce.com (one of the
market leaders) released mobile apps for some of the mostpopular mobile platforms, including
iPhone, BlackBerry and Windows Mobile (Kanaracus, 2009).Another recent development is the
integration of social networking data with CRM. Research shows that50% of businesses reported
that social networks had made them more successful. 26% of thosebusinesses integrate data from
social networks with their CRM software. This has brought advantages inthat companies are
better able to bring their marketing campaigns to social networks like Facebook andTwitter, but
at the same time there are security concerns relating to using social networks for leadgeneration,
as sometimes sensitive data is shared or transmitted across public social channels(Blankenhorn,
2011).
Customer relationship management (CRM) is a widely implemented strategy for managing
a companys interactions with customers, clients and sales prospects. It involves using
technology to organise,automate, and synchronise business processes principally sales activities,
but also those for marketing,customer service and technical support. The overall goals are to
find, attract, and win new clients,nurture and retain those the company already has, entice former
clients back into the fold, and reducethe costs of marketing and client service. Customer
relationship management describes a company-widebusiness strategy including customerinterface departments as well as other departments. Measuringand valuing customer relationships
is critical to implementing this strategy.
CRM software is said to record in one place the extensive information necessary to understand
a customer and his or her needs and expectations. The software is becoming essential because it
can beused to capture and rapidly display the information needed to work toward assuring the
satisfaction of many customers at the same time. In addition to providing the basic data about a
company and itsproducts, CRM software offers information needed to build relationships and
add value throughout the sales process CRM keeps a salesperson intimately involved in a sale
by prioritizing tasks important to moving the sale along, identifying the customers stage in the
sales process, keeping track of all previoussteps in the process and information shared, and
displaying personal information recorded about those involved in a purchase, in order to improve
relationships with them. (Gerald Manning, 2012)CRM software achieves this by allowing users
to manage customers, including contacts of potentialcustomers, execute marketing campaigns
(via email, internet, mail, phone etc.), engage with customersvia social networking, workflow
and task automation, schedule and organise activities and providesintegration/collaboration
between company departments. CRM software also organises data in a way suitable for
managers to get a clear picture of whats going on at a glance, but also data is analysed for
analytics and business intelligence.The main benefits offered by CRM to businesses are said to
be new sales opportunities, improvedcustomer service, easy planning and execution of
targeted marketing campaigns, better decision making and greater efficiency
streamlining the offer to what the customer requires, not want the organization can make
Problem Statement
Most obviously, and this is the extent of many suppliers' perceptions, customers want costeffective products or services that deliver required benefits to them. (Benefits are what the
products or services do for the customers.) Note that any single product or service can deliver
different benefits to different customers. It's important to look at things from the customer's
perspective even at this level.
More significantly however, customers want to have their needs satisfied. Customers' needs are
distinctly different to and far broader than a product or service, and the features and benefits
encompassed. Customers' needs generally extend to issues far beyond the suppliers' proposition,
and will often include the buying-selling process (prior to providing anything), the way that
communications are handled, and the nature of the customer-supplier relationship.
Modern CRM theory refers to the idea of 'integrating the customer'. This new way of looking at
the business involves integrating the customer (more precisely the customer's relevant people and
processes) into all aspects of the supplier's business, and vice versa. This implies a relationship
that is deeper and wider than the traditional 'arms-length' supplier-customer relationship.
The traditional approach to customer relationships was based on a simple transaction or trade,
and little more. Perhaps there would be only a single point of contact between one person on
each side. All communication and dealings would be between these two people, even if the
customers' organization contained many staff, departments, and functional requirements
(distribution, sales, quality, finance, etc).
The modern approach to customer relationship management is based on satisfying all of the
needs - people, systems, processes, etc - across the customer's organization, such as might be
affected and benefited by the particular supply.
service.
Providing a fast and effective mechanism for managing and scheduling follow-up sales
calls to assess post-purchase cognitive dissonance, repurchase probabilities, repurchase
Secondary Objectives:
CHAPTER-2
INDUSTRY PROFILE
Industry/Sector Profile
For a long time companies saw their customers only as transactions, focusing their efforts on
everything that surrounded the customer but without ever actually getting to the customer. Every
organization realizes the need to get closer to the customer to increase market share and fight
competition, particularly in the fast moving turbulent environment.
Thus the marketing functions are fast changing to adapt themselves to changing challenges faced
at various fronts. With multiple sales channels, increasing competition and ever-reducing
margins, the need to listen to the customer closely has never been greater than it is today.
Building a long lasting, mutually beneficial relationship with the customer has assumed
tremendous importance in todays business environment. Marketers now understand that
retaining the customers is far more challenging though profitable than acquiring new customers
in the fast moving competition. The most profitable companies are those that make the smartest
decisions about investments in attracting and retaining customers.
Thus the traditional transactional approach to achieve marketing goals became insufficient. This
situation necessitated the emergence of new approach namely relationship building through
CUSTOMER RELATIONSHIP MANAGEMENT.
Customer Relationship Management (CRM) has now become a strategic necessity for the sales
and business development professionals who continuously strive to be one up their competitors.
Traditionally, few people changed their banks unless serious problems occurred. In the past there
was, to certain extent, a committed, often inherited relationship between a customer and his/her
bank. The philosophy, culture and organization of financial institutions were grounded in this
assumption and reflected in their marketing policies, which were product and transactionoriented, reactionary, focused on discrete rather than continuous activities.
In the beginning
The 1980s saw the emergence of database marketing, which was simply a catch phrase to define
the practice of setting up customer service groups to speak individually to all of a companys
customers.
In the case of larger, key clients it was a valuable tool for keeping the lines of communication
open and tailoring service to the clients needs. In the case of smaller clients, however, it tended
to provide repetitive, survey-like information that cluttered databases and didnt provide much
insight. As companies began tracking database information, they realized that the bare bones
were all that was needed in most cases: what they buy regularly, what they spend, what they do.
However database marketing was too costly, too difficult and didnt pay out on the bottom line,
except in the case of business-to-business key account marketing. A little database marketing
went a long way, which was very good news for everyone except technology vendors.
Organizations could do quite well simply by knowing how recently and frequently customers
purchase; how much they spend; what they purchase; and an iota of customers demographics.
This was the beginning of the now familiar frequent flyer programs, bonus points on credit cards
and a host of other resources that are based on CRM tracking of customer activity and spending
patterns. CRM was now being used as a way to increase sales passively as well as through active
improvement of customer service.
CRM captures, analyzes, and distributes all relevant data from customer and prospect
interactions to everyone in the organization. This distribution of information helps an
organization
better
meet
customer,
product,
and
service
needs.
CRM has replaced traditional marketing techniques that focused on key marketing mix elements,
such as product, price, promotion and place. By being too functionally-based, traditional
marketing techniques neglected the customer in the after-sales process and failed to meet
customers' desires. CRM emphasizes customer retention over customer acquisition and is
recognized as one of the most viable tools used to further a company's success in the highly
competitive
business
world.
MODEL OF CRM
We now consider the Business Strategy Perspective on CRM. Here, we propose a model, which
is a hybrid, and typical of many of the models and diagrams of CRM that you will find on The
Internet and in popular books on the topic of eMarketing / eCommerce. The model has three key
phases and three contextual factors:
1. Customer Acquisition.
2. Customer Retention.
3. Customer Extension.
4. Marketing Orientation.
5. Value Creation.
6. Innovative IT.
1. Customer Acquisition - This is the process of attracting our customer for the first their first
purchase. We have acquired our customer.
Growth - Through market orientation, innovative IT and value creation we aim to increase the
number of customers that purchase from us for the first time.
7.
2. Customer Retention - Our customer returns to us and buys for a second time. We keep them
as a customer. This is most likely to be the purchase of a similar product or service, or the next
level of product or service.
Growth - Through market orientation, innovative IT and value creation we aim to increase the
number of customers that purchase from us regularly.
3. Customer Extension - Our customers are regularly returning to purchase from us. We
introduce products and services to our loyal customers that may not wholly relate to their
original purchase. These are additional, supplementary purchases. Of course once our loyal
customers have purchased them, our goal is to retain them as customers for the extended
products or services.
Growth - Through market orientation, innovative IT and value creation we aim to increase the
number of customers that purchase additional or supplementary products and services.
4. Marketing Orientation - means that the wholes organisation is focused upon the needs of
customers. Customer needs are addressed by the Three Levels of a Product whereby the
organisations not only supplies the actual, tangible product, but also the core product and its
benefit, and also the augmented product such as a warranty and customer service. Marketing
orientation will focus upon the needs of consumers for all three levels of a product. (N.B.
'market' orientation and 'marketing' orientation are not the same).
5. Value Creation - centres on the generation of shareholder value based upon the satisfaction of
customer needs (as with marketing orientation) and the delivery of a sustainable competitive
advantage.
9.
True CRM Requires Organizational Collaboration
Many enterprises believe that implementing CRM technologies makes them a customercentric organization. They forget, ignore or deliberately avoid the necessary changes to
the enterprise itself. True CRM means that individuals, teams and the whole enterprise
must become more focused on the needs and wants of the customer.
The term organizational collaboration, highlights the many facets of the customercentric internal change needed to deliver the required and desired external customer
experience. As a critical part of a CRM program, it will involve changing organizational
structures, incentives and compensation, skills and even the enterprise culture.
a poor experience and receives less than the expected value. Successful re-engineering
should create processes that not only meet customers expectations, but also support the
customer value proposition, provide competitive differentiation and contribute to the
desired customer experience.
The first step towards successfully winning, retaining and growing the profitability of private
banking customers is to understand what their wants and needs are, so that the organization can
be built around serving those needs.
Only when an organization has done this and incorporated this into its strategy can it start to
design its value proposition and a customer experience that will enable it to achieve a
differentiated competitive position in the private banking market, and more importantly, do so in
an economically viable way.
11.
The Basic Customer Experience
There is a basic 'generic' customer experience that many private banking customers are seeking.
To be a credible player in the market, a private bank must be able to deliver this 'base'
experience. This represents a common set of needs that are shared by most HNW customers.
Therefore, the private bank must have the capabilities required to meet these needs for the
majority of its customer base.
All customers, regardless of wealth levels, have similar emotional needs, which drive their need
for advice and their purchase of products. Different wealth levels impose different priorities on
meeting these needs and open up new avenues for doing so.
Take a simple example, HNW customers can afford on it to fund their retirement, so their
priorities may be associated with growing wealth, rather than preserving it, allowing them to
choose a product option with a higher risk/reward ratio.
If this is true, it means all HNW customers start with a basic, common set of what they want and
need from a bank, which might include: 12.
At this basic level, grouping together these core wants and needs produces a set of generic
characteristics that an HNW individual seeks from an organization before he or she will even
consider placing any of his or her wealth with it.
Multiple lines of business are involved, but processes rarely flow seamlessly across
departmental boundaries.
Departments need to share customer information, an act that can be both technically difficult
and politically sensitive.
13.
Departments often have their own systems, and sometimes multiple versions of systems,
housing customer data that should be common across departments and systems.
Many companies rely on their Web site to provide customers with information or to support
customer self-service, but the site often is managed by yet another department, adding to the
difficulty of keeping information up-to-date and consistent across all the various
departmental systems.
Next problem is to decide what kind of customer information is relevant and how it will be
used.
14.
CHAPTER -3
COMPANY PROFILE
16.
Flexibility and adaptability is built into our model. We have an advanced global delivery
platformwith a full complement of technology and consulting services across most major
industry segments, and a model that positions us well into the future.
Our mandate is to introduce people to the new world of Information Technology. Our goal is to
make a positive impact on all involved and to be effective role models as technologists. Our
vision is to emerge as a dynamic, tech savvy, customer centric and progressive world of
Information Technology.
We hope to introduce new technology to the world. Our vision statement can be encapsulated in
our corporate philosophy and motto of `building quality with economy. To envision, design and
construct the most magnificent landmarks and edifices; to contribute tangibly in regional and
national development by way of key infrastructure projects, and to protect and preserve the
environment we live in that too with economy.
At the end of the day, our vision is about making the world a better place to live in; to transform
and uplift quality of living and lifestyles of each and every individual that comes in contact with
us.
17.
Products
WE HAVE PRODUCT FOR EVERYONE:
APPLICATION MANAGEMENT
Out IT professionals responsible for controlling coast, delivery of products with the quality,
Responding the ever continues changing need of the business
ATTENDACE MANAGEMENT
Organizations of all sizes use time and attendance systems to record when employees start and
stop work, and the department where the work is performance.
BANKING SYSTEM
18.
Banking Software is rapidly increasing its relevance
Typically Banking Software refers to Core Banking Software.
in
today's
global
society.
CRM SOFTWARE
Customer relationship management (CRM) is all about managing the relationships you have with
your customers.
E-LEARNING
E-learning includes all forms of electronically supported learning and teaching, including
Edtech. The information and communication systems.
ENTERPRISE MANAGEMENT
The EMS services encompass implementation and management of monitoring tools for client's
worldwide.
19.
ERP SYSTEM
LoremIpsum is simply dummy text of the printing and typesetting industry. LoremIpsum has
been the industry's standard dummy text.
RDS has dedicated team of technical Internet Marketing & SEO experts for Internet Marketing
and SEO Services Our experts provide effective and efficient eMarketing
20.
INVENTRY MANAGEMENT
Inventory management is primarily about specifying the size and placement of stocked goods.
Inventory management is required at different locations within India.
MATRIMONY PORTAL
MLM SOFTWARE
Complete, Automated web based "MLM Software" for MLM Business Solution. Our most
comprehensive MLM software, provides the functionality needed to tack
21.
MOBILE SECURITY
Mobile security or mobile phone security has become increasingly important in mobile
computing. It is of particular concern as it relates to the security.
OFFICE MANAGEMENT
Office Management Software is described as software which can manage a Small Medium
Business Office.
ONLINE EDUCATION
Online Education includes all forms of electronically supported learning and teaching,
including Edtech. The information and communication system
22.
ONLINE HOTEL MANAGEMENT
Online hotel reservations are becoming a very popular method for booking hotel rooms.
Travelers can book rooms from home by using online
PAYROLL SOFTWARE
Payroll Software , is an integrated accounting system which takes care of all business needs. It
incorporates powerful features for maintenance
23.
Services
DATA WAREHOUSING & BUSINESS INTELLIGENC
We offers Business Intelligence Services (Integration, Storage, Reporting and Analysis) either
for new software solutions OR for legacy solution running in organizations to give them 360
degree view of their data, useful analytical data in quick time which can be extracted by analysts
in number of hrs& can be used by organizations for making quality decisions for their business.
Safaltek Business Intelligence Services helps to our clients manage, change and transform their
businesses through focused, high-quality, cost-effective business information technology
solutions.
DESIGN
To ensure the development process meets client requirements, We will present a conceptual
design for review and approval. The conceptual design will be presented in the form of prototype
screens and narrative descriptions of functionalities. A summary of what business requirements
are being addressed by the designed solution is also included.MVCarchietecture through which
software is developed in a series of iterations.
Iterations are working versions of the software that meet specific business requirements. A
combination of iterations becomes a service release ready for user acceptance. RDS collaborates
closely with the client to define each service release. We also provide integration testing and
assist clients during User Acceptance Testing (UAT)
MANAGED SERVICES
Our flexibility, operations maturity and modular solutions can reduce administrative overhead,
free your talent to focus on strategic opportunities, and deliver consistent and measurable
infrastructure improvements.
Our next-generation Remote Infrastructure Management 2.0 service features our automated
OnTarget platform. Covering all phases of service delivery, it makes every aspect of your
global infrastructure transparent to you and your team.
MANAGED SERVICES
Our flexibility, operations maturity and modular solutions can reduce administrative overhead,
free your talent to focus on strategic opportunities, and deliver consistent and measurable
infrastructure improvements. Our next-generation Remote Infrastructure Management 2.0
service features our automated OnTarget platform. Covering all phases of service delivery, it
makes every aspect of your global infrastructure transparent to you
24.
OFFSHORE OUTSOURCING
Our offshore software development services are intended to serve businesses that are software
outsourcing development and programming to India. By judicious blend of Business analysis &
Management with latest technology, RDS develops state-of-the-art and custom software & web
based applications. RDS enable reduction in the time and resources spent for a business process
to take place for the clients, and serve to eliminate functional bottlenecks.
We offer complete end-to-end and cost-effective offshore software development solutions in the
most advanced Internet projects including web application and design to customers from the
small and medium enterprise. With a complete spectrum of services on offer high-traffic scalable
B2B and B2C web solutions, advanced e-commerce solutions, dynamic web sites we are able to
take care of offshore IT projects from A -Z.
USER TRAINING:
The RDS team includes a number of experienced, college-level instructors who provide user
training on all new and modified software. The process involves a combination of live classroom
training and webinars.
Training materials are provided at all training sessions. Following initial training, the RDShelp
desk provides on-going assistance as needed.
25.
Mobile security or mobile phone security has become increasingly important in mobile
computing. It is of particular concern as it relates to the security of personal information now
stored on smartphones.
More and more users and businesses use smartphones as communication tools but also as a
means of planning and organizing their work and private life. Within companies, these
technologies are causing profound changes in the organization of information systems and
therefore they have become the source of new risks.
Indeed, smartphones collect and compile an increasing amount of sensitive information to
which access must be controlled to protect the privacy of the user and the intellectual property of
the company.
All smartphones, as computers, are preferred targets of attacks. These attacks exploit weaknesses
related to smartphones that can come from means of communication like SMS,
MMS, wifi networks, and GSM. There are also attacks that exploit software vulnerabilities from
both the web browser and operating system. Finally, there are forms of malicious software that
rely on the weak knowledge of average users.
Different security counter-measures are being developed and applied to smartphones, from
security in different layers of software to the dissemination of information to end users. There
are good practices to be observed at all levels, from design to use, through the development of
operating systems, software layers, and downloadable apps.
Office management
Office Management Software is described as software which can manage a Small Medium
Business Office. Currently there aren't many solutions which achieve this, but instead offer the
management of specific activities
26.
Trends
- CRM (Customer Relationship Management) have become more and more popular, but again,
are not sufficient to manage all office activities.
- Smartphones have also begun offering more functionality, especially in managing contacts,
appointments and email, but again, they fall short in truly offering a solution that can manage an
office.
Solutions
- Integrated Office Management: More and more software companies have begun offering truly
integrated office management applications which can manage all office activities from a single
application, thus storing all information in a central server. Such is essential for businesses as
now all information can be accessed and the time typically wasted in finding information is
greatly reduced, thus ultimately saving money for the consumer[citation needed]
Online education
Online Education includes all forms of electronically supported learning and teaching,
including Edtech. The information and communication systems, whether networked learning or
not, serve as specific media to implement the learning process.[1] This often involves both outof-classroom and in-classroom educational experiences via technology, even as advances
continue in regard to devices and curriculum.
Abbreviations like CBT (Computer-Based Training), IBT (Internet-Based Training) or WBT
(Web-Based Training) have been used as synonyms to online education.
Online education is the computer and network-enabled transfer of skills and knowledge. Online
education applications and processes include Web-based learning, computer-based learning,
virtual education opportunities and digital collaboration
27.
Content is delivered via the Internet, intranet/extranet, audio or video tape, satellite TV, and
CD-ROM. It can be self-paced or instructor-led and includes media in the form of text, image,
animation, streaming video and audio.
It is commonly thought that new technologies can strongly help in education. In young ages
especially, children can use the huge interactivity of new media, and develop their skills,
knowledge, perception of the world, under their parents monitoring, of course. Many
proponents of online education believe that everyone must be equipped with basic knowledge in
technology, as well as use it as a medium to reach a particular goal.
Online Hotel Management
Online hotel reservations are becoming a very popular method for booking hotel rooms.
Travelers can book rooms from home by using online security to protect their privacy and
financial information and by using several online travel agents to compare prices and facilities
at different hotels.Online hotel reservations are also helpful for making last minute travel
arrangements.
Hotels may drop the price of a room if some rooms are still available. There are several
websites that specialize in searches for deals on rooms.
Payroll Software
Payroll Software , is an integrated accounting system which takes care of all business needs. It
incorporates powerful features for maintenance of data related to general accounting, inventory
control, portfolio management, export documentation, stock maintenance, sales, purchases plus
other facilities
28.
Company Detail
Company Name REVENIR DEVELOPMENT SYSTEM PVT. LTD.
Address DEEP BUNGLOW CHOWK , MODEL COLONY,
SHIVAJI NAGAR , SENAPATI BAPAT ROAD
City PUNE
State MAHARASTRA
Pin code 411016
Phone Number Office Landline 020-3241-2694
Fax Number 020-2683-3657
E-mail ID (for receiving buyer enquiries) kumar@revenirglobal.com
Mobile security or mobile phone security has become increasingly important in mobile
computing. It is of particular concern as it relates to the security of personal information now
stored on smartphones.
More and more users and businesses use smartphones as communication tools but also as a
means of planning and organizing their work and private life. Within companies, these
technologies are causing profound changes in the organization of information systems and
therefore they have become the source of new risks.
Indeed, smartphones collect and compile an increasing amount of sensitive information to
which access must be controlled to protect the privacy of the user and the intellectual property
of the company
29.
All smartphones, as computers, are preferred targets of attacks. These attacks exploit
weaknesses related to smartphones that can come from means of communication like SMS,
MMS, wifi networks, and GSM. There are also attacks that exploit software vulnerabilities from
both the web browser and operating system. Finally, there are forms of malicious software that
rely on the weak knowledge of average users.
Different security counter-measures are being developed and applied to smartphones, from
security in different layers of software to the dissemination of information to end users. There
are good practices to be observed at all levels, from design to use, through the development of
operating systems, software layers, and downloadable apps.
Office management
Office Management Software is described as software which can manage a Small Medium
Business Office. Currently there aren't many solutions which achieve this, but instead offer the
management of specific activities
Trends
- CRM (Customer Relationship Management)have become more and more popular, but again,
are not sufficient to manage all office activities.
- Smartphones have also begun offering more functionality, especially in managing contacts,
appointments and email, but again, they fall short in truly offering a solution that can manage an
office.
Solutions
- Integrated Office Management: More and more software companies have begun offering truly
integrated office management applications which can manage all office activities from a single
application, thus storing all information in a central server. Such is essential for businesses as
now all information can be accessed and the time typically wasted in finding information is
greatly reduced, thus ultimately saving money for the consumer[citation needed]
30.
Online education
Online Education includes all forms of electronically supported learning and teaching,
including Edtech. The information and communication systems, whether networked learning or
not, serve as specific media to implement the learning process.[1] This often involves both outof-classroom and in-classroom educational experiences via technology, even as advances
continue in regard to devices and curriculum. Abbreviations like CBT (Computer-Based
Training), IBT (Internet-Based Training) or WBT (Web-Based Training) have been used as
synonyms to online education.
Online education is the computer and network-enabled transfer of skills and knowledge. Online
education applications and processes include Web-based learning, computer-based learning,
virtual education opportunities and digital collaboration. Content is delivered via the Internet,
intranet/extranet, audio or video tape, satellite TV, and CD-ROM. It can be self-paced or
instructor-led and includes media in the form of text, image, animation, streaming video and
audio.
It is commonly thought that new technologies can strongly help in education. In young ages
especially, children can use the huge interactivity of new media, and develop their skills,
knowledge, perception of the world, under their parents monitoring, of course. Many
proponents of online education believe that everyone must be equipped with basic knowledge
in technology, as well as use it as a medium to reach a particular goal.
CHAPTER-4
LITERATURE SURVEY
Literature Survey:
BOOK
Marketing Management
Research Methodology
Human Resource
Production and Operation
Phillip Kotler
Adam & Abort
Aswathapa
Magazine
Value Line
Eagle Eye
Business World
NSDL
other interested parties, on issues and concerns that affect them a vital source of
data that when managed correctly can enable you to recognize and correct the root
cause of problems.
Complaints management isnt just about dealing with an individual problem, it is
about listening to your customers need, resolving their point-of-pain issue, learning
from your mistakes and building products and services to meet their current and
future needs.
By analyzing customer complaint and feedback data organizations can:33.
a reliable, accurate and fast way to get better quality data on customers attitudes. In
most cases , complaints and feedback come from loyal customers not disloyal ones, as
it often thought.
These complaining customers give an organization the opportunity to recover the
failure, to make restitution and then to continue with a mutually valuable relationship.
Quite often a simple apology is all they need to remain true.
34.
Customer s who do complain about their dissatisfaction are also more likely to repurchase. In fact, complaining customers can become a companys most loyal customers.
Industry research show that customers who complain and later satisfied are up to eight
percent more loyal than those who did not have a problem.
They also are more likely to tell family, close friends and work colleague how pleased
they are that the company addressed their complaints, even if the problem was not
resolved to their liking . If the problem is resolved satisfactorily, they will tell even more
people than if they had received good service in the first place. Given this propensity to
re-purchase and to recommend to others in their social and peer groups, customer
complaints are a leading indicator of customer sentiment and future economic activity.
4.1.3 profiting from priceless customer complaints
Customer who complain are like golden nuggets as they are more likely to be loyal, so
long as their issues are dealt with effectively.
PROFITING FROM COMPLAINTS : FIVE KEY STEPS
1. Optimize the accessibility of their complaints and feedback processes.
2. Invest in a robust and enterprise proven complaints and feedback management
solution to ensure all complaints are captured and managed effectively and
efficiently.
3. Listen to their customers experiences of making a complaint.
4. Perform root cause analysis of complaints and feedback data in order to identify
process and service improvements and priorities business change initiatives.
5. Truly place the customer at the heart of their business.
Microsoft Dynamics CRM Customer Relationship Management: The Winning Strategy
revenue growth of 275 percent during the first full year of recovery (McGraw-Hill).
36.
And the key asset that lies at the center of every business is customers. It is by protecting and
investing in this single most important asset that companies can establish the foundation for a
sustainable business. In fact, improving customer loyalty and experience are listed in Forresters
Trends 2009 report as the top two concerns of business executives (Band, Leaver, and Magarie
2008).
In the Marketing Executives Networking Group survey, customer satisfaction and retention were
noted as the top executive priorities for 2009, both rising in importance from 2008 (Tsai 2009).
These trends are likely to continueand even intensifyas businesses increase their focus on
existing customers.
The Role of CRM in a Challenging Economy
CRM: THE ENABLING TECHNOLOGY
In todays economy organizations cant rely on brute strength to maximize the value of their
customer relationships; rather, they need enabling technologies and tools. CRM is a technology
that allows organizations to track and leverage every customer interaction to maximize revenue
opportunities and improve customer loyalty. But CRM does much more than just track customer
interactions. It also helps organizations optimize their operations by automating routine tasks
and standardizing best practices. Ultimately, CRM allows organizations to better acquire,
manage, serve, and extract value from their customers while improving operational efficiency
something that is critical in todays economy.
In fact, customer relationship management was noted as a leading priority of business
executives by AMR Research in 2008 (Fletcher 2008). This trend has continued, with Forrester
Research showing that more than a third of enterprises plan for CRM upgrades in 2009 (Marston
2009). And Nucleus Research goes on to state that, If there is one technology area where you
should increase your investment today [in these uncertain economic times], its CRM (Nucleus
Research 2008).
38.
The impetus for this interest in CRM came from Reichheld4 where he showed the
dramatic increase in profits from small increases in customer retention rates. For
example, his studies showed that as little as a 5% increase in retention had impacts as
high as 95% on the net present value delivered by customers (advertising agencies) with a
low of 35% (computer software).
Other studies done by consultants such as McKinsey
have shown that repeat customers generate over twice as much gross income than new
customers. The considerable improvements in technology and innovation in CRMrelated
products have made it much easier to deliver on the promise of greater
profitability from reduced customer churn.
And compared to setting up a new manufacturing plant, aggressively hiring new sales and
customer service representatives, or raising capital to acquire other companies, CRM is a
technology that can be implemented rapidly with relatively limited costs.
It is something that any company should consider as it attempts to ensure success in these
challenging times. Put simply, CRM can provide real business benefits in times where every
dollar counts.
This paper will demonstrate how Microsoft Dynamics CRM business software can provide
organizations with the tools and capabilities they need to successfully achieve those five
strategies and how to turn a down economy into an opportunity to grow.Integration of customer
relationship management: status quo and implications for research and practice
C.R.M
MATTHIAS MEYER*
Institute of Corporate Development and Organization, Munich School of Management,
University of Munich, Kaulbachstrasse 45/I, D-80539 Munich, Germany
LUTZ M. KOLBE
Competence Center Customer Management, University of St. Gallen, Institute of
Information
Management, Mueller-Friedberg-Strasse 8, CH-9000 St. Gallen, Switzerland
INTRODUCTION
Challenge
Generally, customer relationship management (CRM) is a concept that comprises the
establishment, development, maintenance and optimization of long-term, mutually valuable
Relationships between customers and organizations (Payne and Royals, 2001, pp. 34).
Customer Orientation and especially CRM are important preconditions for the realization of
profitability.
Several researchers have assessed this causality since the 90s (e.g., Reich held and Sesser, 1990;
Reich held and Teal, 1996; Blat berg and Dighton, 1996; Young and Anew, 2000; Reinartz and
Kumar, 2000, 2003). CRM is a multi-faceted, comprehensive phenomenon which includes
strategic aspects, customer-oriented processes and organisational changes through projects as
wellas performance measurement. In addition, IS (information systems) implementationwhich
hasmistakenly become a synonym for CRMis an important element.True CRM success stories
41.
Research questions and the papers structureFrom our point of view, CRM requires adequate
implementation, which implies a strategic aswell as an organizational task (see Table 1 and
Gambeson, 1994; Cravens and Percy, 1994;Gummesson, 1998; Piercy, 1998). However, we
observe that CRM is predominantly considereda matter of service rather than one of
organisational design (Kotorov, 2002, p. 218).
According to Colgate and Danaher (2000), there is clear demand for research in the field
ofimplementing and managing CRM. Our assumption is that the co-ordination of
customerrelationship activities is necessary on various, if not all, of a firms dimensions, such as
strategy,processes, or technology, to ensure success.
In this context we argue for the application ofrelevant approaches from organisational theory,
e.g., theories of the firm.This paper strives to address the following two research questions:
Are there any approaches to CRM integration in the literature to address its complex and
Are we ablebased on selected studies results and the synopses of papers in leading
journalsto show on which areas theory and practice have to focus to make CRM
integration initiatives more successful in future?
42.
CHAPTER-5
OBJECTIVES
Provide product information, product use information, and technical assistance on web
repurchase frequencies.
Provide a mechanism to track all points of contact between a customer and the company,
and do it in an integrated way so that all sources and types of contact are included, and
all users of the system see the same view of the customer (reduces confusion).
44.
Provide a fast mechanism for managing and scheduling maintenance, repair, and
ongoing support (improve efficiency and effectiveness).
Increase Loyalty :
Loyal customers are more profitable. Any company will like its mindshare status to improve
from being a suspect to being an advocate. Company has to invest in terms of its product and
service offerings to its customers. It has to innovate and meet the very needs of its customers so
that they remain as advocates on the loyalty curve. Referral sales invariably are low cost high
margin sales
The study was carried out for REVENIR SOFTWARE DEVELOPMENT PVT.LTD
in Delhi region.
The duration of the study was two months.
The study was carried out as a part of the Sales & Marketing Division of the
company.
45.
CHAPTER-6
RESEARCH
METHODOLOGY
Research Methodology
Partnering Programs:
The third type of CRM programs is partnering relationships between customer and marketers to
serve end user needs. In the mass markets, two types of partnering programs are most common:
Co- branding and affinity partnering.
47.
Traditionally customer relationship management (CRM) revolves around the three functions of
selling, marketing and support. Various process models have been built around how these
functions are integrated and operated in a customer oriented enterprise. There is however a fourth
critical function that is lacking in most CRMmodels.The fourth function that often is the source
of a competitive edge is that of innovation. Companies must continually reinvent themselves to
deliver an improved and often a totally new value offering to their customer base.
CRM must provide the customer intelligence that feeds information back into the enterprises
knowledge management processes where it can trigger new innovation processes. When CRM is
integrated into the innovation process, significant value can be derived from faster time to
market cycle times and with new processes and services.
Marketing automation must ensure that the innovation processes are actually market driven. A
market driven innovation process must include both strategies that are focused on satisfying
customer requirements as well as strategies focused at redefining customer requirements. Sales
automation should be integrated with the innovation process by ensuring that all sales channels
are prepared and ready to take new processes and services to market before competitive forces
can react. Customer service automation must be designed to empower the customer with the
option of assisting with the design of the value offering.
Redefining CRM around innovation, sales, marketing and service can identify new competitive
opportunities for an enterprise. The remaining question is whether companies are prepared to
take the initiative and expand the definition of customer relationship management to include the
process of innovation. The pressure to deliver results within the traditional definition of CRM
already overwhelms companies. The dialog must start rather earlier than later because the
competitive window of traditional CRM is decreasing and customer demands for a more
innovative and responsive enterprise will increase.
48.
Architecture of CRM:
1. Operational CRM:
Operational CRM means supporting the "front office" business processes, which include
customer contact (sales, marketing and service). Tasks resulting from these processes are
forwarded to resources responsible for them, as well as the information necessary for carrying
out the tasks and interfaces to back-end applications are being provided and activities with
customers are being documented for further reference. Operational CRM provides the following
benefits:
Delivers personalized and efficient marketing, sales, and service through multi-channel
collaboration
Enables a 360-degree view of your customer while you are interacting with them
Sales people and service engineers can access complete history of all customer
interaction with your company, regardless of the touch point. The operational part of
CRM typically involves three general areas of business:
50.
2. Analytical CRM:
In analytical CRM, data gathered within operational Command/or other sources are analyzed to
segment customers or to identify potential to enhance client relationship. Customer analysis
typically can lead to targeted campaigns to increase share of customer's wallet.
Examples of Campaigns directed towards customers are:
following analyses:
Contact channel optimization
Contact Optimization
Customer Acquisition / Reactivation / Retention
Customer Segmentation
Customer Satisfaction Measurement / Increase
Sales Coverage Optimization
Fraud Detection and analysis
Financial Forecasts
Pricing Optimization
Product Development
51.
Program Evaluation
Risk Assessment and Management
Data collection and analysis is viewed as a continuing and iterative process. Ideally, business
decisions are refined over time, based on feedback from earlier analysis and decisions.
Therefore, most successful analytical CRM projects take advantage of a data warehouse to
provide suitable data. Business Intelligence is a related discipline offering some more
functionality as separate application software
3. Collaborative CRM:
Collaborative CRM facilitates interactions with customers through all channels (personal, letter,
fax, phone, web, e-mail) and supports co-ordination of employee teams and channels. It is
absolution that brings people, processes and data together so companies can better serve and
retain their customers.
The data/activities can be structured, unstructured, conversational and/or transactional
innature.Collaborative CRM provides the following benefits:
52.
CHAPTER-7
DATA ANALYSIS &
INTERPRETATION
Answer
Yes
No
No of Respondents
Percentage
140
60
70%
30%
Percentage
Yes
No
30%
70%
Interpretation:
Graph indicates that the organization understands the Customer needs via knowledge learning. It
shows that the organization is prepared to face new challenges coming from customers.
No of Respondents
Percentage
60
30%
120
60%
20
10%
Answer
Yes
No
No of Respondents
Percentage
168
84%
32
16%
Percentage
Best
Upto the Mark
Need to Improve
Interpretation:
Graph indicates that the way of communication of Revenir is fairly good but there is still scope
of improvement in the way of communication in Revenir. Revenir can train its employees to
strengthen this area.
Answer
Involving actual customers
Hiring an Agency
Involving industry experts and consultants
Other
No of Respondents
10
32
98
60
Percentage
Yes
No
Interpretation:
Graph indicates that the way of information sharing within Revenir is good and is shared with
maximum area. It can focus on the least area which is uncovered
Answer
Yes
No
No of Respondents
Percentag
e
120
60%
80
40%
Interpretation:
Graph indicates that Customer involvement in deciding Revenirs product design strategy is very
less. This makes Revenir non customer centric. Revenir should consider this thing as critical and
focus on involving customers.
5.
Percentages
Yes
No
Interpretation:
Graph indicates that Revenir follows timelines with customers but still can improve it.
Answer
0-20
20-40
40-60
60-80
More than 80
6.
No of Respondents
20
60
50
40
30
Percentage
10%
30%
25%
20%
15%
Percentage
70
60
50
Percentage
40
30
20
10
0
0-20
20-40
40-60
60-80
More than 80
Interpretation:
Graph indicates that Revenir is getting 20-40 % queries from most of the customers which
indicates it is fairly doing well.
7.
k
Answer
Yes
No
No of
Respondents
Percentage
130
65%
70
35%
Feedbac
on past
queries.
Percentage
Yes
No
Interpretation:
Graph indicates that Revenir is continuously reviewing the past queries which means Revenir
can build long term relations with many customers.
Answer
0-25%
25-50%
50-75%
More than 75
No of Respondents
8. Percentage of
IT/ITeS service
usage
20
10
110
60
No of Responses
120
100
80
No of Responses
60
40
20
0
0-25%
25-50%
50-75%
More than 75
Interpretation:
Graph indicates that Revenir has a scope to focus on IT, ITeS areas in CRM.
Answer
No of Respondents
1
2
3
4
5
5
20
140
25
10
9. Customer individual
attention on scale of
1-5
Responses
160
140
120
100
Responses
80
60
40
20
0
1
Interpretation:
Graph indicates that Revenir provides individual attention to Customers and doing well in this
area.
Answer
Timeline
After Sale Service
Regular Feedback
Other
No of Respondents
10
20
40
130
Responses
140
120
100
80
60
40
Responses
20
0
Interpretation:
Graph indicates that Revenir needs to improve on some other areas which may include its
behavior and way of communication with customers
Answer
Very Easy
Fairly Good
Average
Difficult
Very Difficult
No of Respondents
20
30
100
35
15
Responses
Very Easy
Fairly Good
Average
Difficult
Very Difficult
Interpretation:
Graph indicates that Revenir needs to improve its CRM
CHAPTER-8
OBSERVATIONS &
FINDINGS
8.Observations& Findings
The customers have become aware about the need of installing
surveillance systems.
Most of the clients while installing surveillance systems prefer brand and
quality.
The company should pay more attention to create brand awareness of
Revenir Development Software
Various promotion schemes should be implemented by the company to
increase the sales of the company
The company should concentrate on after sales services.
Existing customers of Revenir Development Software
are satisfied with after sales Service, with few exceptions.
In are, which we were given out of 800 clients we have mostly found that
they are not interested in the financial portfolio restructuring. We found
90.7% no interested and 9.3% are interested in the city.
Most of the clients whom, we met Government employees, businessman,
Hotels, malls, restaurants and chaiwala also. What about their interested in
trading.
Most of the clients invested in the IPO, Trading, and Investment, future and
options and commodity markets. Out of 800 Most of the clients Interested in
trading.
67.
CHAPTER-9
CONCLUSION
9.Conclusion
In the past, CRM was mostly about the technology, not about the customer. There is a change in
the way the organizations do business. At a technology level, CRM is increasingly about
conjoined best-of-breed applications delivered via portal technologies. At a business level, it is
beginning to invade traditional territories occupied by brand management or customer support.
Peel shows companies how to make the shift to the new paradigm.
The CRM vendors look like they have got their act together in terms of coupling their wares to
the needs of the business. The market now distinguishes between CRM and eCRM. One would
be forgiven for thinking that this differentiation was contrived to allow the vendors to retreat
back to pre ecommerce CRM. But the opposite is true. eCRM is the new game and the vendors
are being bullish about it. It may well be worth creating a CRM vendor index, as I think that it
will be a good indicator of confidence in business in general and technology in particular.
69.
CHAPTER-10
SUGGESTIONS &
RECOMMENDATIONS
Recommendations
71.
CAHPTER-11
BIBLIOGRAPHY
Bibliography
Magazines
o Business World
o Business Today
o Business India
Newspapers
o Times Of India
o Financial Express
o Economic Times
Websites
o www.crm2day.com
o www.salesforce.com
o www.bitpipe.com
o www.customerservicemanager.com
o www.serachcrm.com
o www.darwinmag.com
o www.crmassist.com
o www.google.co.in
o www.yahoo.com
Reference Books
CRM: Redefining Customer Relationship Management
Why CRM Doesnt Work?
CRM: Getting It Right
74.