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Operational and Analytical Technologies for Optimizing CRM System
Subaji Mohan,Eunmi Choi 한국로고스경영학회 2007 한국로고스경영학회 학술발표대회논문집 Vol.2007 No.7월
"Most business follows time-honored mass-marketing roles of pitching their products to more number of people. But selling more goods to fewer people is more efficient and more profitable. Welcome to a radically different business paradigm of one to one Production, Marketing and Communication." In One to One marketing the company is focusing on one customer at a time rather than just share of market. This has made the companies to literally design products and service for specific customers, instead of creating a product and then trying to find people who want to buy it. The One to One approach, as in relationship marketing, is looked at a process with the customer. It follows the unique IDIC methodology (Identify, Differentiate, Interact, Customize). Sounds like focusing the resources on the highest potential customers and customizing the approach based on their profiles. In many ways CRM is the operational face of the One to One movement; CRM represents the business philosophy required to accomplish the One to One marketing vision. CRM is a strategy. with the tools and the software, which allow the firm to execute the strategy. CRM has been divided according to the functionality of software tools. Analytical CRM Collaborative CRM Operational CRM Companies that implement CRM systems can expect to pay as much as, three times licensing fees to implement their systems. High-end CRM systems can cost as much as $3,000 per user. In a recent study. it has been found that organizations implementing a CRM solution can expect to see up to a 42 percent increase in sales, a 35 percent decrease in cost of sales, a 25 percent reduction in sales cycle times and a 20 percent increase in customer satisfaction numbers. This paper discusses how Operational and Analytical Technologies can optimize the CRM System in an Organization to provide absolute and increased Customer Satisfaction.