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ASSIGNMENT
| DRIVE | SUMMER 2014 |
| PROGRAM | MBADS – (SEM 4/SEM 6) MBAN2 / MBAFLEX – (SEM 4)
PGDROMN – (SEM 2) |
| SUBJECT CODE & NAME | ML0015- SERVICES MARKETING & CUSTOMER RELATIONSHIP MANAGEMENT |
| SEMESTER | 4 |
| BK ID | B1808 |
| CREDITS | 4 |
| MARKS | 60 |
Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.
1 Given your understanding of market identification, elaborate on how, in terms of market share, a firm is expected to play certain roles.
Answer : An entrepreneur may grow its business either by internal expansion or by external expansion. In the case of internal expansion, a firm grows gradually over time in the normal course of the business, through acquisition of new assets, replacement of the technologically obsolete equipments and the establishment of new lines of products. But in external expansion, a firm acquires a running business and grows overnight through corporate combinations. These combinations are in the form of mergers, acquisitions, amalgamations and takeovers and have now become important features of corporate restructuring. They have been playing an important role in the external growth of a number of leading companies the world over. They have become popular because of the enhanced competition, breaking of trade barriers, free flow of capital across countries and globalisation of businesses. In the wake of economic reforms, Indian industries have also started restructuring their operations around
2 Discuss the purchase process of a service customer.
Answer : The Customer Buying Process (also called a Buying Decision Process) describes the process your customer goes through before they buy your product. Understanding your customer’s buying process is not only very important for your Salespeople, it will also enable you to align your sales strategy accordingly.
The process has been interpreted by many scholars over the years; however, the five stages framework remains a good way to evaluate the customer’s buying process. John Dewey first introduced the following five stages in 1910:
3 “Interaction plays a lead role in building customer relationships”. Explain Customer Information Management (CIM) in this context.
Answer : Computer-integrated manufacturing
A system in which individual engineering, production, and marketing and support functions of a manufacturing enterprise are organized into a computer-integrated system. Functional areas such as design, analysis, planning, purchasing, cost accounting, inventory control, and distribution are linked through the computer with factory floor functions such as materials handling and management, providing direct control and monitoring of all process operations.
Computer-integrated manufacturing (CIM) may be viewed as the successor technology which links computer-aided design (CAD), computer-aided manufacturing (CAM), robotics, numerically controlled machine tools (NCMT), automatic
4 Explain gap analysis in detail.
Answer : In information technology, gap analysis is an assessment tool to help identify differences between information systems or applications. A gap is sometimes called “the space between where we are and where we want to be.”
A gap analysis helps bridge that space by highlighting which requirements are being met and which are not. The tool provides a foundation for measuring the investment of time, money and human resources that’s required to achieve a particular outcome.
In software development, for instance, a gap analysis can be used to document which services and/or functions have been accidentally left out, which ones have been deliberately eliminated and which still need to be developed. In compliance, a gap analysis can be used to compare what is required by law to what is currently being done.
5 Explain the benefits and opportunities of an effective e-CRM.
Answer : The benefits which those channels confer on the enterprises include the following:
- Fostering Relationship with Customers: Trust is one of the scarcest commodities in dealing with customers and it is not easily obtained. Traditionally, it was the practice to just acquire the preferences of the customers but with the increased competition and demands coupled with their awareness, it is now far more important to initiate proactive programs to stimulate one-on-one communication with customers geared towards fostering trust and loyalty. e-CRM enables enterprises to create trust, get co-operation and then guarantee satisfaction with the customers.
6 Discuss different customer retention strategies.
Answer : Customer retention is on the minds of small and medium businesses across the world. With rising customer acquisition costs, businesses need to get innovative and start taking a proactive role in retaining their clients.
The consequences of customer retention also compound over time, and in sometimes unexpected ways. Even a tiny change in customer retention can cascade through a business system and multiply over time. The resulting effect on long-term profit and growth shouldn’t be underestimated.
Marketing Wizdom can introduce you to a number of simple customer retention strstegies that will cost you little or nothing to implement. Behind each
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
(Prefer mailing. Call in emergency )