E-Marketing & e-CRM

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There are many reasons for the rise of Customer Relationship Management (CRM) and the young pretender e-CRM in recent years. As evidenced by PeopleSoft’s financial difficulties and subsequent re-invention as a CRM company, the market downturn of 2001 and later acquisition by Oracle, which has seen venture capital money re-focused on vendors and infrastructure and senior management re-focused on customer retention and profitability, are certainly two important drivers behind CRM’s irrepressible rise to fame.

However, the most important underlying shift that has forced CRM into the limelight must be the more macro-economic move towards customer-centricity. Recent emphasis on customer retention is merely symptomatic of the fact that the balance of power is increasingly shifting towards the customer, be they business, retail or Manufacturing. “Customer is God” or “Buyer’s Market” are very well known phrases now.

Terminological blood baths aside, CRM or eCRM, are core to all businesses: essentially it is all about selling quality products or services to the right people at the right time and getting paid right away for the promised services/goods. The more the money rolling capabilities in the Industry, the faster realisation of Return on Investments(ROI) to any businesses.

In the mean time electronic businesses like Google, Amazon & E-bay, different giant business models have emerged in the mean time but practising the almost the same rule of business and became successful. Countless businesses have ceased to exist at the same time in electronic business. The ruggedness of the supply chain management and customer relationship management made this happen. While contemporary business giants are still suffering losses. Ebay’s electronic Birthday greetings cards towards their customers enhances loyalty and fosters satisfactions and seller/vendor’s ranking by consumers enhances reliability. Hence, E-bay could give birth of a community who live only on buying and selling on E-bay full time. This is happening in Business to Consumer Scenario. Some changes brought in by Amazon in consumer to consumer scenario. But we’ve not seen a sea change of concept in the area of Business to Business area where somehow rather the all the Organisations are dependent.

As such, CRM is increasingly what businesses have to be about to make money. CRM is a mindset for how to approach business and it is questionable how valuable it is to hive this off into a separate and large Manufacturing or Retail industries in B to B scenario then percolating to B to C.

Thematic Area: Supply Chain Management & Performance Improvement

Any business in this economic era have identified the value of CRM and the cost of supply chain losses in consumer goods industry, which is almost €18 billion per year only in EU. We need to identify the lacuna and need to address the issue why it fails, the problem and the key cause in poor management practices and implementation of effective CRM. In today’s scenario of price competitive businesses need to outsource and which is inevitable with certain cautious quality steps. The businesses are outsourcing not only for the better and cost effective services/products quality. The quality of products/services, cost effectiveness and timely delivery combination matters a lot. Right now most of the consumers we face are well informed prepared what they want and having much more knowledge about the similar products and competition and they practise buying it sometimes in the convenience of home by just clicking mouse buttons at their need. Supply chains are the mechanism for organisations to gather different parts and at the end deliver the promised goods or services. Customer support and other functions come at the later half of a sales cycle. The way Dell or Gateway became successful.

When they fail in integrating any functions the consequences can be severe, including: • Lost income through foregone sales, customer disappointment and erosion of brand equity

• Additional cost, such as the cost of lost items and the cost of loss prevention and asset protection measures