MK0015-Services Marketing and Customer Relationship Management

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ASSIGNMENT

DRIVE	SPRING 2015
PROGRAM	MBADS – (SEM 4/SEM 6) MBAN2 / MBAFLEX – (SEM 4) PGDROMN – (SEM 2)
SUBJECT CODE & NAME	MK0015-Services Marketing and Customer Relationship Management
SEMESTER	4
BK ID	B1808
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1 Write a short notes on :

a. Customer Life cycle

Answer : In customer relationship management (CRM), customer life cycle is a term used to describe the progression of steps a customer goes through when considering, purchasing, using, and maintaining loyalty to a product or service. Marketing analysts Jim Sterne and Matt Cutler have developed a matrix that breaks the customer life cycle into five distinct steps: reach, acquisition, conversion,

b. Customer lifetime value

Answer : CLV (Customer Lifetime Value) is a prediction of all the value a business will derive from their entire relationship with a customer. Because we don't know how long each relationship will be, we make a good estimate and state CLV as a periodic value — that is, we usually say “this customer's 12-month (or 24-month, etc) CLV is $x”.

The Pareto Principle states that, for

Q.2 Elaborate GAP analysis in detail.

Answer : In information technology, gap analysis is an assessment tool to help identify differences between information systems or applications. A gap is sometimes called "the space between where we are and where we want to be."

A gap analysis helps bridge that space by highlighting which requirements are being met and which are not. The tool provides a foundation for measuring the investment of time, money and human resources that's required to achieve a

Q.3 “Interaction plays a lead role in building customer relationships”. Explain CIM in this context.

Answer : Computer-integrated manufacturing

A system in which individual engineering, production, and marketing and support functions of a manufacturing enterprise are organized into a computer-integrated system. Functional areas such as design, analysis, planning, purchasing, cost accounting, inventory control, and distribution are linked through the computer with factory floor functions such as materials handling and management, providing direct control and monitoring of all process operations.

Computer-integrated manufacturing (CIM) may be

Q.4 What are the various types of conflicts in marketing services?

Answer : In the workplace, conflict is inevitable, usually occurring when one party perceives that their interests are being opposed or negatively affected by another party. Conflict can produce either a positive or negative outcome. By being able to identify potential conflict before it arises and knowing how to effectively manage it, you will be able to help your staff increase the chances of turning conflict into a positive outcome. There are two types of conflict, functional and dysfunctional.

Functional conflicts

5. Define e-CRM. Also explain how e-CRM can be leveraged as a source of competitive advantage.

Answer : The eCRM or electronic customer relationship management encompasses all the CRM functions with the use of the net environment i.e., intranet, extranet and internet. Electronic CRM concerns all forms of managing relationships with customers making use of information technology (IT).

eCRM is not here to change marketing but to enhance it by presenting opportunities to companies to improve their effectiveness and to deliver customer

Q.6  “Positioning a service in the marketplace is much like positioning a product”. Explain Service positioning and its purpose with the help of an example.

Answer : Positioning of services :

 The development of a sustainable positioning strategy for a product, service, division or company.  Each engagement utilizes the Four Forces of Positioning methodology. These projects include fresh articulation of market vision, competition analysis, market segmentation, positioning statement development, and identification of business model implications of positioning strategy.

Explanation :

Positioning strategy of services in based on following

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