MGT301 Assignment # 1 Solution

CRM? What is Customer Relationship Management.

CRM is the overall progress of building and maintaining profitable customer relationships by delivering superior customer value and services.
In the new view, marketing is the science and art of find, retaining and serving the customer. This is what changes the concept of marketing
Stating this we know that Marketing must be concerned with the life time of the customer. The more the life of the customer is there the more chances are
there to survive in the Market.
For an efficient Customer relationship management customer value and satisfaction is the major point, the purpose behind the CRM is to sustain and keep your customer with you, it helps you apply
the strategies which are focused on increasing the customers satisfaction,
loyalty, and profitability by providing him better service qualities over
your competitors.
Increases the life cycle of a loyal customer as we know that a churning customer is very harmful for the revenue and the market repute of the company at the same time.
Analysis of customers buying trends is made, you know what you are to offer to the targeted customer
Identification of potential customer on his grounds.
Customer satisfaction is 85% more than compared to old school marketing techniques.
You keep the customer wondering, “What is Next?”
Customer demands more than you know what you have to offer them.
Common Goals of CRM.
You want to keep that customer with you then use a CRM design.
It helps business to use technology to get inside the customers life cycle, his trends, his likes and dislikes.
Your company can keep the customers track.
You can follow your buying behavior by the help of a CRM.
Create call center where you can facilitate the customer talk to them, make them feel better by giving them one stop solution.
Elaborate your answers with an example
Collecting data, mining, extracting and Data base Management is the new view. Now marketing is the sciences of searching, attaining, retaining and delighting the customer. Marketing must be considered with the life time value of the value and keeping this in mind CRM is the right tool to keep your customers with you. CRM acts as a Relationship building block with the customer.
Example
Telenor Pakistan
A leading Telecommunication firm establishing its ground in 2005 first quarter is now the second largest in Coverage and Number 1 in customer services (Call center) and Customer Feedback handling (By using CRM)
This firm uses an ORACLE based CRM Customer Relationship management Software called Siebel.
Siebel is the Biggest CRM tools till now available in the market. It contains unlimited Logs of data base and customer information related to every field.
This software being the most advanced DBMS of its time till present definitely given Telenor Pakistan a really big edge over all its competitors.
Advantages of this CRM.
It contains Users primary information
Keeps a track of all the package plan the user has converted into
His last 10 used Value added services
His mostly frequently dialed number
His credit classification according to the revenue he is generating to the company.
Every call the customer has ever made to the call centre for any query is recorded in this CRM for a future reference with a work code assigned for
the question the customer asks.
This basic tool has helped the company evolve into a major Telecommunications Giant in just a small frame of 5 years.
By using this tool the company manages the customer and his feedback.
Over sees what are his expectation and where can we profit from it.
Keeps track of every change made against his number.
Every customer account is equipped with a predictable table where this CRM tells what could be the customer’s next need or what offer could be attractive
to the customer.

MGT301 Assignment # 1 Solution

Solution:

a) Define Customer Relationship Management (CRM) & its purpose? (2+3)

Customer Relationship Management

“The ability of an entire organization to effectively identify, acquires, foster and retain loyal profitable customers.”

Customer Relationship Management (CRM) boiling down to one simple concept: loyal, profitable customers. Loyal because we know that longtime customers tend to buy more and are easier, and subsequently more cost effective, to sell new products to than trying to acquire new customers

Profitable because this is what makes or breaks us as a business.

Purpose of CRM

The purpose of CRM is improved proximity to clients to respond to their needs and turn them into loyal customers. A CRM project therefore includes providing each sector of the company with access to the information system to get to know the client better and provide him with products and services which meet his expectations in the best possible way.

b) Elaborate your answer with the help of example? (5)

The organization and the customers both have sets of conditions to consider when building the relationship, such as wants and needs of both parties;

• organizations need to make a profit to survive and grow

• customers want good service, a quality product and an acceptable price

Mortgage brokers have a special type of business, a business that needs specific CRM software capabilities. One of the major parts of mortgage broking is client relationships. Not only does the client need to feel confident in your abilities as a broker, but it's also important for your business that the client enjoys the experience so that they will refer you future business.

c) Why CRM is different from traditional marketing? (5)

From the marketing perspective, traditional marketing builds category need, awareness of the product (through recall & recognition), a positive attitude (through developing knowledge of the product & liking it) and intention to buy (through consideration of the product and preferring it). Hopefully, a sale occurs at this point. Relationship marketing takes over after the sale for existing customers by stimulating the intention to buy and sometimes after the sale through post-purchase reinforcement. In other words, you should use traditional marketing to recruit new customers and relationship marketing to maintain the relationship with them once you brought them in.

MGT301 Assignment # 2 Solution

MGT301 Assignment # 2 Solution:

Download the link: http://www.fileserve.com/file/SmDeG9U

MGT301 GDB # 2 Solution

MGT301 GDB # 2 Solution:

If you are working as a marketing manager in a multinational mobilemanufacturing company and your company wants to introduce a new brand ofmobile. What factors you will consider while setting your pricing strategy?Discuss any three factors which may affect your price-decision?


Solution:-

Being marketing manager for mobile company, the factors which I will consider forpricing will be costs, competition and organizational considerations.Further, Three factors which may affect my price decision will be as follows:

a) Costs:Costs have to be calculated backwards from the target price which theconsumer is ready to pay for the proposed mobile. Therefore, cost is definitelya consideration when the product has to be priced to meet the desired target aswe cannot put the target price which cannot cover the costs at minimum.

b) Competition:Growing number of mobile manufacturers around the world areposting a threat. Therefore to survive, one has to be competitive both inpricing as well as in product offered. These days, high priced mobiles are nolonger a privilege for customer.

c) Organizational considerations:Growing competition is now forcing thecompany to keep some room open for further negotiations and specialpackages that can be offered. For example these days, we may offer mobilephones with free mobile connections by making liaison with mobileconnection providers. This act will give both of us a new customer. Their costfor a SIM card will be minimum but they will have the revenue generated fromthe usage of their connection. We will be able to sell our product with anadditional item i.e. the SIM card which if purchased separately will have itsown cost to be borne by consumer.

MGT301 GDB

I am focusing on mood or image style to execute the massage, because I think it more efficient way to enhance the product.

 This style especially based on beauty as well give the message of love.

 This also explains the sincerity of the company.

 Beautiful manner is used to make and show the people beautiful. so people try to use it in a perfect manner.

Lifestyle

I would try to exploit the fact that I can associate my product, detergent or beauty soap, with the emotions and feelings of people as any stain on clothes or blemish on face naturally arises human feelings and knowing this, I can use this feeling to attract attention for my product i.e. soap.

Scientific evidence:



Scientific evidence is a witness qualified as an expert by knowledge, skill, experience, training, or education" may testify and offer opinions in court if "scientific, technical, or other specialized knowledge will assist the tier of fact to understand the evidence or to determine a fact in issue.



Logical Reason: In this era therefore the time of science and technology people want the logical reason about every thing. If a manager can prove by using the scientific evidence that his company’s product is effective and harmless for the people then customer’s reliability increase on the product and they trying to buy it

MGT301

ASSIGNMENT SOLUTION MGT 301
SOURCE:-
MGT 301 Handouts and web search.
EXCLUSIVE DISTRIBUTION:-
Exclusive distribution means giving a limited number of dealers the exclusive
right to distribute the company’s products in their territories.
FMCG s:-
FMCGs (Fast Moving Consumer Goods) are inexpensive products that people
usually buy on a regular basis, such as supermarket foods or toiletries.
RECOMMENDATION AS EXCLUSIVE DISTRIBUTION FOR FMCGs OR NOT:-
I will not recommend exclusive distribution for FMCGs because they are
required on regular basis and should be available in every market on most number of
shops and people should have an easy approach towards these products.
EXCLUSIVELY DISTRIBUTED PRODUCTS:-
1. HONDA MOTORCYCLE
REASON: - It is exclusively distributed because its distribution requires financially
strong dealers and dealers whose reputation is well in the market as well as in the society.
And dealers must be able to hold the complex and unexpected environment of the market.
Dealers are required to have a knowledge that why HONDA MOTORCYCLE is better
than others.
2. PEL REFRIGERATOR
REASON: - It is exclusively distributed because there are only a few no of dealers which
are present in the market to sale and service the electric appliances and the distributors
are required to be financially strong and distributors should have knowledge about
electric equipments and inner composition of equipments. They must have well
reputation in the market as appliance dealers.

MGT301

MGT301 Assignment# 1 Hints to make Your Own….Examples given..
What is exclusive distribution
Exclusive Distribution Takes place when suppliers enter into agreements with one or a
few retailers that designate the latter as the only companies in specified geographic
areas to carry certain brands and/or product lines.
Exclusive distribution Using only one outlet in a relatively large geographic area to
distribute a product.
Exclusive distribution: Involves limiting distribution to a single outlet. The product is
usually highly priced, and requires the intermediary to place much detail in its sell. An
example of would be the sale of vehicles through exclusive dealers.
Exclusive Distribution: restricting the availability of a product to one particular outlet.
See Distribution Intensity; Intensive Distribution; Selective Distribution.
Exclusive Distribution - restricting the availability of a product to one particular outlet.
See Distribution Intensity; Intensive Distribution; Selective Distribution.
Will you recommend exclusive distribution for FMCGs?
Fast Moving Consumer Goods (FMCG), also known as Consumer Packaged Goods
(CPG), are products that have a quick turnover, and relatively low cost. Consumers
generally put less thought into the purchase of FMCG than they do for other products.
Although the absolute profit made on FMCG products is comparatively small, they are
generally sold in large numbers. Hence profit in FMCG goods generally scales with
the number of goods sold, rather than the profit made per item.
The FMCG product category generally includes a wide range of frequently purchased
consumer products including toiletries, soaps, cosmetics, teeth cleaning products,
shaving products and detergents, as well as other non-durables such as glassware,
bulbs, batteries, paper products and plastic goods. FMCG may also include
pharmaceuticals, consumer electronics, packaged food products and drinks, although
these are often categorized separately.
FMCG products can be thought of in contrast with consumer durables, which are
generally replaced less than once a year (e.g. kitchen appliances).
Three of the largest and best known examples of Fast Moving Consumer Goods
companies are Nestlé, Unilever and Procter & Gamble. Examples of FMCGs are soft

drinks, tissue paper, and chocolate bars. Examples of FMCG brands are Coca-Cola,
Kleenex, Pepsi and Believe.
A subset of FMCGs are Fast Moving Consumer Electronics which contain innovative
electronic products such as mobile phones, MP3 players, digital cameras, GPS Systems
and Laptops, which are replaced more frequently than other electronic products..