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.

Customer Relationship Management is a business strategy that integrates processes, technology, and people to manage and enhance an organization’s interactions with current and potential customers. CRM focuses on building long-term relationships by understanding customer needs, delivering personalized experiences, and maximizing customer lifetime value across all

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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 organizational process that transforms how a business manages customer relationships through the integration of strategy, process redesign, technology, and cultural change. Successful implementation requires careful planning across multiple dimensions to ensure the system delivers the intended business outcomes.

CRM Adoption and Implementation Process

Implementation begins with a comprehensive needs assessment that identifies the specific customer management challenges the

 

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 sector operates in a highly competitive, trust-dependent environment where customer relationships directly determine business performance. CRM is particularly valuable in BFSI because customers typically hold multiple products with a single provider and make high-value, long-term commitments that require sustained relationship management.

Importance of

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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 the digital tools and platforms that enable real-time, two-way communication between organizations and customers, transforming CRM from a data management system into a dynamic engagement capability. They allow organizations to interact with customers across multiple channels simultaneously, personalizing every touchpoint based on customer

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 long-term mutual benefit over short-term sales maximization, creating the trust and loyalty that sustain business performance through competitive and economic cycles.

Importance of a Relationship-Oriented CRM Approach

Relationship orientation in CRM recognizes that customers are assets whose value accumulates over time through

 

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 its existing customers over time and prevent them from defecting to competitors. In CRM, retention is a primary strategic objective because retained customers generate ongoing revenue at significantly lower cost than newly acquired ones, making retention rate a fundamental driver of business profitability.

Role of Customer Retention in