Customer Relationship Management
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Written Assignment 1: Customer Relationship Management
Customer Relationship Management (CRM) is focused on identifying
profitable customers, retaining those customers, and growing their
lifetime value. The aim is to identify and differentiate individual
customers and customer groups, use data to determine customer
interactions, and determine how to provide customization within a
mass customization environment.
Based on the readings for this week, respond fully to the following
questions:
1. 1.
Based on your understanding of the principles of CRM,
why has there been a shift in focus to the customer? How does
this shift benefit the organization? How does it benefit the
consumer?
2. 2.
Effective CMR requires consumers and organizations to
establish and develop relationships with each other. What are
the characteristics of good relationships? Why is it difficult to
sustain relationships? What are some of the barriers to effective
relationships?
3. 3.
Identify and briefly the keys to successful CRM
implementation.
4. 4.
Define and discuss the three primary models of CRM: the
IDID model; the QCI Model and the CRM Value Chain Model.
How are these models similar? How do they differ?
Papers should be 4-5 pages in length, double-spaced. Put name,
date, assignment #, and class in top right corner in the header
section. Do not attach a cover page, but you do need to include a