MKT401 - Services Marketing and Customer Relationship Management

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ASSIGNMENT

DRIVE	SPRING 2018
PROGRAM	Master of Business Administration – MBA
SEMESTER	IV
SUBJECT CODE & NAME	MKT401 - Services Marketing and Customer Relationship Management
BK ID	B1808
CREDITS	2, 4
MARKS	30 marks each

Note –The Assignment is divided into 2 sets. You have to answer all questions in both sets. Average score of both assignments scored by you will be considered as your IA score. Kindly note that answers for 10 marks questions should be approximately of 400 words.

Assignment Set -1

Questions

Question. 1. Write Short Notes on 7Ps of service marketing mix and Characteristics of service.

Answer:The first four elements in the services marketing mix are the same as those in the traditional marketing mix. However, given the unique nature of services, the implications of these are slightly different in case of services.

1.       Product: In case of services, the ‘product’ is intangible, heterogeneous and perishable. Moreover, its production and consumption

Question. 2. Write short notes on:

a. Frontal Attack

Answer:A frontal attack strategy in marketing focuses on a challenger taking on the market leader head-on. This means focusing on your competitors' strengths and matching your own pricing, products, marketing, and promotions to the leading brand. Like a frontal attack in battle, the winner is often determined by who has endurance to last the longest.

Frontal attacks can be risky because

b. Flanking Attack

Answer:The Flank attack is the marketing strategy adopted by the challenger firm and is intended to attack the weak points or blind spots of the competitor, especially a leader.

A flank attack strategy is based

c. Bypass Attack

Answer:The Bypass Attack is the most indirect marketing strategy adopted by the challenging firm with a view to surpassing the competitor by attacking its easier markets. The purpose of this strategy is to broaden the firm’s resources by capturing the market share of the competing firm.

The firm can adopt any of the

d. Guerrilla Attack

Answer:A Guerrilla attack is the marketing strategy adopted by the challenger firm intended to launch the intermittent attacks with an intention to harass or demoralize the competitor. This strategy is more a preparation for the war than an actual war.

A guerrilla warfare can be

Question. 3. Explain Customer Relationship Management (CRM). What are the various types of CRM?

Answer:Customer Relationship Management (CRM) is a strategy for managing all your company's relationships and interactions with your customers and potential customers. It helps you improve your profitability.

Assignment Set -2

Questions

Question. 1. What are the various opportunities and benefits of e-CRM? What are the various ways in which e-CRM can be leveraged as a source of competitive advantage?

Answer:Introducing a CRM platform has many benefits which have been shown to produce real results – including direct improvements to the bottom line. CRM applications have a proven track record of increasing:

·       Sales by up to 37%

·       Sales Productivity by up to 44%

·       Forecast accuracy by 48%

Question. 2. What do you mean by Customer Life Cycle? What are the various challenges faced by an organisation in implementing CRM?

Answer:Mobility & innovation are the two key drivers to achieve business goals for any enterprise. Today, customer relationship management (CRM) plays a crucial role in managing numerous interactions with existing and future customers. CRM enables collaboration among various business functions such as sales, marketing, customer service and technical support.

Question. 3.What are the various steps that should be taken to avoid the challenges and pitfalls in e-CRM?

Answer:Customer Relationship Management technology may already feature prominently in your CRM research but inadequate planning and poor implementation are often reasons for projects failing to delivery their expected results.

1. Don’t be too ambitious

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