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Customer Relationship Management
April 2025 Examination
1. Acquiring new clients and retain
existing ones, is one of the key reasons why organizations need to focus on
their CRM activities. How is CRM expected to help your business acquire and
retain customers? (10 marks)
Ans 1.
Introduction
In
today’s competitive business landscape, acquiring new customers and retaining
existing ones is crucial for long-term success. Customer Relationship
Management (CRM) plays a vital role in managing customer interactions,
analyzing consumer behavior, and optimizing business strategies to enhance
customer satisfaction. Organizations that effectively implement CRM strategies
can build strong customer relationships, foster brand loyalty, and improve
profitability. With technological advancements, CRM systems have evolved from
basic contact management tools to sophisticated platforms that integrate
marketing, sales, customer service, and
2.Your company
manufactures industrial exhaust
fans and water coolers. The industry is hypercompetitive with too
many players competing for the same set of customers. You are launching a
product, which will change the industry. In this context how will you persuade
your existing customers to buy the new product?
(10 marks)
Ans 2.
Introduction
In
a highly competitive industry where numerous players vie for the same customer
base, launching a new product that promises to revolutionize the market
presents both an opportunity and a challenge. The introduction of an innovative
industrial exhaust fan or water cooler must be strategically positioned to
capture customer interest, differentiate from competitors, and build strong
brand loyalty. Persuading existing customers to transition to this new product
requires a well-structured approach that highlights its unique value,
technological advancements, and long-term benefits. Effective customer
persuasion is not just about marketing but
3. Organisations that implement CRM
are often dissatisfied and failure rates are very high.” In context of the
statement:
a.
What are the primary causes of dissatisfaction in CRM implementations
and how do you mitigate them? (5 marks)
Ans 3a.
Introduction
Customer
Relationship Management (CRM) is designed to enhance customer engagement, streamline
operations, and drive business growth. However, despite its potential, many
organizations face dissatisfaction with CRM implementations, often leading to
failure. The high failure rates stem from issues such as lack of clear
strategy, poor user adoption, data management challenges, and technological
mismatches. These problems not only lead to wasted investments but also hinder
business performance. To ensure a successful CRM implementation, companies
b. What are the factors that you
should consider to limit the failures in CRM projects?
(5 marks)
Ans 3b.
Introduction
CRM
implementation can be a game-changer for businesses, improving customer
interactions, optimizing sales processes, and enhancing overall business
efficiency. However, failure rates remain high due to poor planning, inadequate
execution, and lack of user adoption. To minimize these risks, organizations
must focus on key factors that ensure CRM success. These include aligning CRM
with business objectives, involving stakeholders, selecting the right
technology, ensuring proper training, and continuously monitoring CRM
performance. A structured approach to CRM implementation significantly
increases its chances
Dear students, get fully solved assignments by professionals
Do send your query at :
or call us at : 08263069601
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