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Description
| SESSION | JULY AUGUST 2026 |
| PROGRAM | BACHELOR OF BUSINESS ADMINISTRATION (BBA) |
| SEMESTER | VI |
| COURSE CODE & NAME | DBB3201 CUSTOMER RELATIONSHIP MANAGEMENT |
Assignment Set 1
Q.1. Define Customer Relationship Management (CRM) and discuss its importance in establishing long-term customer relationships. Explain the economic dimensions of CRM.
Ans 1.
CRM (Customer Relationship Management) is a way to learn about customers and organize tasks to develop and keep strong customer relationships. CRM uses strategy, people, processes, and data. Software helps support all of these functions.
Importance of Long Term Relationships
CRM provides the organization of pertinent data throughout all aspects of sales, marketing, and service. The same unresolved problem does not require a customer to repeat himself each time he/she has an interaction with a new representative. Trust can be built upon the consistency of following-up with
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Q.2. Explain the process of adopting and implementing CRM. Discuss the various stages involved in the CRM cycle.
Ans 2.
Defining what a customer service strategy means to your organization and aligning people, processes, and data to support the strategy is the first step in implementing a CRM system. This process of identifying, managing, improving, and recovering customer relationships is part of a continuous cycle that is supported by a CRM implementation.
Adoption and Preparation
The first step for management is to determine what the problem(s) with the customer are, as well as set measurable goals. Goals
Q.3. Discuss the significance of CRM in the BFSI sector (Banking, Insurance, Small Finance, and Loans). Explain the major components of CRM in BFSI with suitable examples.
Ans 3.
CRM is essential for banking, insurance, small finance, and lending since customer relationships are usually ongoing rather than just a one-time occurrence. Customers require correct information, reliable services, and support during the key times of their financial lives. When a customer has a negative experience with a payment, claim, or loan, it may damage trust.
Significance in Financial Services
CRM allows organizations to learn
Assignment Set 2
Q.4. Explain the role of interactive technologies in Customer Relationship Management (CRM). Discuss the various categories of CRM technologies and the product solutions available in the CRM marketplace.
Ans 4.
CRM can become much more responsive through the use of interactive technologies. For example, by connecting to accurate customer records, web sites, mobile apps, messaging, live chat, and contact centers provide a means for customers and organizations to communicate with each other. These tools are
Q.5. Discuss the significance of adopting a relationship-oriented approach to CRM. Explain how customer-focused marketing contributes to the development of sustainable business processes.
Ans 5.
The relationship-oriented method is based on a process of building relationships with customers and providing value throughout those relationships. A relationship-oriented approach to CRM measures success based upon the customer’s overall experience with the company, rather than just the immediate sale. This view provides companies an opportunity to align their marketing
Q.6. Examine the role of customer retention in CRM. Discuss how organizations can learn from customer loss and evaluate the effectiveness of their customer retention strategies.
Ans 6.
Customer retention is about building long-term relationships with your current customer base. When you have repeat business from your customers, you are able to generate additional revenue and lower the cost of finding new customers to replace those who leave. Retention must be based upon providing valuable services to your customers and giving them options to stay or go; however, retention