DBB3201 CUSTOMER RELATIONSHIP MANAGEMENT

Description

SESSION	JAN – FEB 2026
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	VI
COURSE CODE & NAME	DBB3201 CUSTOMER RELATIONSHIP MANAGEMENT

 

Assignment Set – 1

 

 

Q.1. What is Customer Relationship Management (CRM)? Explain its significance in developing long-term relationships with customers and describe the economic aspects of CRM. (3+7 = 10 Marks)

Ans 1.

The Customer Relationship Management is a business strategy that integrates processes, technology, and people to manage and enhance an organization’s interactions with both current and potential customers. CRM concentrates on establishing trust over time by learning about customer demands, providing personalised services as well as maximizing the customer’s lifetime worth across every touchpoint.

Significance of CRM in

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Q.2. Describe the process of adopting and implementing CRM. Also explain the key stages involved in the CRM cycle. (3+7 = 10 Marks)

Ans 2.

CRM adoption is a structured system that alters the way a business manages customer relationships by integrating strategies, process design technology, culture, and transformation. The successful implementation of CRM requires careful planning in a variety of dimensions to make sure the system delivers the intended benefits for the business.

CRM Adoption and Implementation Process

Implementation begins with a

Q.3. Explain the importance of CRM in BFSI industries (Banking, Insurance, Small Finance, and Loans). Discuss the main components of CRM in BFSI with appropriate examples. (5+5 = 10 Marks)

Ans 3.

The Banking, Financial Services, and Insurance industry is the highly competitive, trust-based business environment in which customer relations directly influence the business’s performance. CRM is particularly valuable in BFSI since customers usually have several products from a single supplier and have high-

 

Assignment Set – 2

 

 

Q.4. Describe the role of interactive technologies in Customer Relationship Management (CRM). Also explain the different categories of technologies and their product solutions available in the CRM marketplace. (3+7 = 10 Marks)

Ans 4.

Interactive technologies are digital devices and platforms that allow real-time, two-way communication between the customer and company and transform CRM from the management of data to a flexible engagement platform. They allow organizations to interact with their customers on multiple channels at the same time, personalizing each touchpoint depending on the customer’s information

 

Q.5. Explain the importance of adopting a relationship-oriented approach in CRM. In what ways does customer-focused marketing contribute to building sustainable business processes? (5+5 = 10 Marks)

Ans 5.

A relationship-oriented approach in CRM shifts organizational focus from individual transactions to the total value of the customer relationship over time. It prioritizes mutual benefit over long-term over short-term maximization of sales, building the trust and loyality that help sustain the business’s

 

Q.6. Discuss the role of customer retention in CRM. How can organizations gain insights from customer loss and measure the success of their retention strategies? (3+7 = 10 Marks)

Ans 6.

Customer retention is the ability of an organization to maintain the customers it has in place over time and stop them from transferring to rivals. In CRM, retention is an essential strategic goal as long-term customers are able to generate income at much lower costs as compared to newly purchased ones so retention rates are a crucial element of profitability for businesses.

Role of Customer Retention in CRM

In CRM,