DBB3201 CUSTOMER RELATIONSHIP MANAGEMENT

Description

SESSION	JANUARY 2024
PROGRAM	BACHELOR of business administration (BBA)
SEMESTER	VI
course CODE & NAME	DBB3201 – CUSTOMER RELATIONSHIP MANAGEMENT
CREDITS
nUMBER OF ASSIGNMENTS & Marks	02 30 Marks each

 

 

Assignment Set – 1^st

Questions

 

1. What is the fundamental meaning of Customer Relationship Management (CRM), and why is it considered crucial for businesses in today’s competitive landscape?

Ans:Customer Relationship Management (CRM) is a strategic approach that businesses use to manage and analyze interactions with both current and potential customers. The fundamental meaning of CRM revolves around building and maintaining strong, long-lasting relationships with customers. It involves collecting, organizing, and analyzing customer data to better understand their needs, preferences, and behaviours. The goal is to enhance customer satisfaction, loyalty, and ultimately drive business growth.

Key components of CRM include: 

Customer Data Management: Collecting and organizing customer information, including contact details, Its Half solved only

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2. What are the key challenges specific to implementing CRM systems in B2B markets compared to B2C environments?

Ans:Implementing Customer Relationship Management (CRM) systems in B2B (business-to-business) markets comes with its own set of challenges, which can differ from those encountered in B2C (business-to-consumer) environments.

Here are some key challenges specific to implementing CRM systems in B2B markets: 

Complex Sales Processes: B2B sales processes are often more complex and involve longer sales cycles, multiple decision-makers, and intricate negotiations. Implementing a CRM system that effectively addresses the complexities of B2B sales can be challenging.

Account-Based Marketing (ABM): B2B organizations often employ account-based marketing strategies, focusing on building relationships with entire companies rather than individual consumers.

 

3. How does CRM contribute to improving patient engagement and satisfaction in healthcare settings?

Ans:Customer Relationship Management (CRM) plays a crucial role in healthcare settings by contributing to the improvement of patient engagement and satisfaction.

Here’s how CRM can impact healthcare in these areas: 

Personalized Patient Communication:  CRM systems in healthcare can store and manage patient information, preferences, and communication history. This enables healthcare providers to send personalized and targeted communication, such as appointment reminders, test results, and

 

Assignment Set – 2^nd

Questions

 

1. What are the different types of interactive technologies commonly used in CRM initiatives?

Ans:Interactive technologies play a crucial role in enhancing Customer Relationship Management (CRM) initiatives by facilitating communication, engagement, and data management.

Here are some common types of interactive technologies used in CRM initiatives: 

Customer Portals:  Web-based portals provide customers with secure access to their accounts, transaction history, and relevant information. Customers can update their profiles, view invoices, and

 

 

2. Explain the strategies for building and maintaining customer loyalty. Also discuss its impact on Business.

Ans:Building and maintaining customer loyalty is essential for the long-term success of any business. Loyal customers not only contribute to consistent revenue but also act as brand advocates, helping to attract new customers through positive word-of-mouth.

Here are strategies for

 

 

3. What operational difficulties do businesses commonly encounter when integrating CRM systems into their workflows?

Ans:While Customer Relationship Management (CRM) systems offer numerous benefits, businesses often encounter operational difficulties during the integration process.

Some common challenges include: 

Resistance to Change:  Employees may resist adapting to new technologies and workflows, especially if they are accustomed to existing systems. Overcoming this resistance requires effective change