Further Thoughts on CRM

Skepticism and disappointment have replaced the initialenthusiasm about CRM. The disappointing results ofCRM-projects are often related to difficulties thatmanagers encounter in embedding CRM in their strategyand organization structure. In this article we presenta classification scheme on how CRM can be strategicallyembedded in organizations using the value disciplinesof Treacy and Wiersema. We use the findings from threecase studies to illustrate our classification. Based onthese case studies and interviews with managers wedistinguish between strategic and tactical CRM, andderive important issues that managers should considerbefore successfully implementing CRM.customer relationship management;marketing strategy;marketing performance

Relationship Marketing - Best Practice in the Banking Sector

This paper aims to highlight best practice in relationship marketing because of adjusted companies’ strategies in a turbulent, unstable, and dynamic economic environment. By best practice, we understand specific marketing tools and strategies built upon real needs and heterogeneous consumer preferences, addressed directly in a relevant way, aiming at clients’ long-term retention. We should also take into consideration the highly competitive market, with rapid changes in purchase and consumption behavior, while the ever-increasing degree of technology changes fundamentally not only the speed, but also the information content. Since past years we can talk about consumer behavior analysis based on multiple criteria, including the emotional or moral components, consumers’ expectations, and life style, as understanding such variables is the main pillar of relationship marketing. The main objectives rely upon building long-term relations, client retention, and loyalty. As part of marketing efforts, the communication component has an increasingly important role, approaching niches with tailored messages, inviting clients to open dialogue. Economic changes, extensive use of technology, migration towards online and optimization of communication channels opened the doors for digital era, when relationship marketing and client relationship management (CRM) represent not a merely working premise, but an essential ground. Best practice in relationship marketing proves that this cannot be applied in any way and at any time, as this paper highlights the main components of building and implementing such a system

BUSINESS INTELLIGENT AGENTS FOR ENTERPRISE APPLICATION

Fierce competition in a market increasingly crowded and frequent changes in consumer requirements are the main forces that will cause companies to change their current organization and management. One solution is to move to open architectures and virtual type, which requires addressing business methods and technologies using distributed multi-agent systems. Intelligent agents are one of the most important areas of artificial intelligence that deals with the development of hardware and software systems able to reason, learn to recognize natural language, speak, make decisions, to recognize objects in the working environment etc. Thus in this paper, we presented some aspects of smart business, intelligent agents, intelligent systems, intelligent systems models, and I especially emphasized their role in managing business processes, which have become highly complex systems that are in a permanent change to meet the requirements of timely decision making. The purpose of this paper is to prove that there is no business without using the integration Business Process Management, Web Services and intelligent agents.business intelligence, intelligent agents, intelligent systems, management, enterprise, web services

Customer relationship management (CRM) in a South African service environment : an exploratory study

The primary objective of the study was to investigate the influence of trust, commitment, two-way communication and conflict handling on customer loyalty through customer relationship management (CRM) as a mediating variable at a South African long-term insurance organization. Both a qualitative and quantitative research approach was followed in the study. The population included all the customers of a long-term insurance provider in South Africa who held a life-insurance policy at the time of the study. The sample consisted of 254 customers in four major centers in South Africa. Primary data was gathered using a structured questionnaire, with items on a 7-point Likert scale referring to trust, commitment, two-way communication, conflict handling, CRM and customer loyalty. The statistical analysis that was used in the study included multiple regression analysis to test the hypotheses. The findings stipulate that a significant positive relationship exists between trust, commitment and conflict handling, and CRM at a long-term insurance provider in South Africa. The study further revealed that a significant negative relationship exists between two-way communication and CRM at the insurance provider. In addition, it was found that there is a significant positive relationship between CRM and customer loyalty at the insurance provider in South Africa. Therefore, long-term insurance providers in South Africa can improve and maintain the relationships between themselves and their customers if they exhibit trustworthy behavior, show genuine commitment to service, communicate information to customers efficiently and accurately, thereby also listening to their customers and handling potential and manifested conflicts skilfully. This will ultimately contribute to customer loyalty, which will ensure economic prosperity for the long-term insurance provider

International Outsourcing and the Supply Side Productivity Determinants

A service provider firm in an outsourcing relationship is distinct from a typical firm because it is not a stand alone organization and fits somewhere in between the value chain of its client’s business. Thus, conventional factors like wages, capital, rent, energy consumption cannot appropriately determine a Business Process Outsourcing (BPO) firm’s productivity. Academic research is silent on the factors that influence the performance of a BPO firm even though the issue is pertinent from the perspective of the host country, the sourcing firm, the global outsourcing industry and of course the service provider firm. In this paper, we embark on to explore these factors.productivity, outsourcing, third party vendor

Exploring the relationship between trust, commitment and customer loyalty through the intervening role of customer relationship management (CRM).

The purpose of the study is to investigate customer relationship management (CRM) and its influence on customer loyalty at selected short-term insurance providers in the Gauteng province of South Africa. The target population included all South Africans who currently have a policy with at least one of the selected short-term insurance providers in the study. The convenience sampling method was applied, and a sample of 500 respondents was selected. An interview administered questionnaire was used for the gathering of data. The study indicated that a significant negative relationship existed between commitment and CRM. It was evident that no significant relationship existed between trust and CRM. The study also revealed that a strong positive relationship existed between CRM and customer loyalty at the four selected short-term insurance providers in South Africa. Strategies were also provided for ways in which the four selected short-term insurance providers can maintain and improve their relationships with their customers in order to encourage loyalty, and therefore increase profitability

Case study: Applied Digital Solutions I3 services platform

The purpose of this project is to analyze whether i3 Strategy of Applied Digital Solutions (ADS) was necessary to meet the fast-moving IT industry. i3 Services Strategy is an integrated corporate strategy to reengineer the organizational structure of ADS