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Marketing Essay 代写:客户关系管理是一个很好的策略

Marketing Essay 代写 : 客户关系管理是一个很好的策略

根据杰姆斯(2007)的顾客价值管理(CVM)指的是识别客户的价值,以管理为当前和未来的业务视角。在客户价值价值不同于字面的意义,它有一个更广泛的意义和应用。价值有两个方面一个是客户的价值在组织的眼睛和组织的价值在客户的眼睛。在CVM的发展阶段,该组织对顾客视角的价值只考虑但在以后的时间的概念被扩大到包括对客户价值的含义。这个附加的意义对组织的运作有很大的影响,为客户提供价值。
顾客价值管理要求首先确定顾客的需求,然后是向顾客提供所需的产品和服务的方法。换句话说,根据客户的需求定制的产品和服务被称为CVM。但这不是一个简单的过程;了解CVM明确客户关系管理已被提到。在客户关系管理中,客户也重视和组织发展保持与客户的关系。在客户关系管理中,客户通常是联系客户的服务和产品和服务的细节,使他们的客户应该知道新的产品和服务提供的公司。购买决定是由客户,如果他们需要所提到的产品和服务,如果他们不想它,他们不会购买。总之,CRP提供相同的产品和服务的所有客户没有询问客户真正想要的是什么,他们怎么想的,当他们想要的地方,做自己想做的。(情报,2006)
CVM有不同的顾客价值观;在这个概念每个客户是重要的,这些客户的需求都是不同的。应该有一个良好的数据存储和检索系统存储的客户如对本组织的产品和服务的顾客感知的个人细节,与竞争对手相比,当前客户的需求,客户的需求,客户的购买频率或模式,在金钱方面,个别客户的社会价值,客户的…等文化和政治方面(情报,2006)

Marketing Essay 代写 : 客户关系管理是一个很好的策略

According to James (2007) Customer Value Management (CVM) means the identifying the value of the customers in order to manage it for the present and future business perspective. The value of the customer in CVM is different from the literal meaning and it has a wider meaning and applications. The value has two aspects one is the value of the customer in the eyes of the organisation and the value of the organisation in the eyes of the customers. In the developmental stage of the CVM, the value of the organisation on the customer perspective was only considered but in later time the concept was widened to include the meaning of the customer value. This additional meaning has a great impact on the functioning of the organisation to deliver the value to the customer.

The Customer Value Management requires identifying the requirements of the customers first then the means to provide the required products and services to the customers. In other words the customisation of the products and services according the customer’s needs is called as CVM. But this is not a simple process; to understand the CVM clearly the Customer Relationship Management has to be mentioned. In CRM, the customers are also valued and the organisation thrives to maintain a relationship with the customers. In CRM, the customers are usually contacted by the customer care services and the details of the products and services are given to them so that the customers should be aware of the new products and services offered by the company. The purchase decision is taken by the customer if they needed the mentioned products and services, if they do not want it they will not purchase it. In brief, CRP offers the same products and services to all the customers without enquiring what the customers really want, how they want, when do they want and where do they want. (Ramaswamy, 2006)

The CVM has different outlook on the customer value; in this concept each customer is important and the requirements of these customers are different from each other. There should be a good data storage and retrieval system which stores the individual details of the customers such as the perception of the customer on the products and services of the organisation when compared with its competitors, the current needs of the customers, the future needs of the customers, the purchase frequency or pattern of the customers, the value of an individual customer in terms of money, the social, cultural and political aspects of the customers…etc. (Ramaswamy, 2006)

According to James (2007) the customisation process is not always a solution to have higher profitability sometimes it may lead to grave financial problems in the organisation. In a production based organisation, where the chief function is manufacturing of finished products, it is very difficult for the customisation process because the inventory cost and overall production cost will be great in that case, but if the customer is desirous to purchase the product at higher price than the customisation may be good. For example the Rolls Royce Cars, which are positioned as the vehicle for elite social classes with a legacy of fame and inheritance and for them the customers, are at the top most strata and the customisation of the products according the specific requirements of the customers can be done with high margin of profit.

In service sector industries the CVM concepts can be implemented without much financial burden. The service sector for instance financial institutions such as insurance sectors, banks…etc and hospitals, hotel industry, tourism industry…etc can adopt CVM effectively, which also brings the profits as well as royalty form the customers. The studies revealed that the CVM can improve the profitability of a firm from 25% to 95% within a short period of time. (CVM, c, 2010)

1.2 Background and Justification of the study

1.2.1 Background

TATA AIG is one of the major insurance companies in India. The parent firm is Tata Industries Group which is one of the major industrial groups in the world. The Insurance segment is one of major endeavours of the TATA which was formed as a joint venture with the US insurance giant American Insurance Group (AIG). The majority of 74% of the shares are with the TATA and the balance of 26% is with the AIG. It is one of the major insurance firm in India, in the financial year of 2008-09 it ranked 6th in the Indian market. (Ahluwalia, 2009)

There are 36 insurance companies are currently in India. The competitions from the new generation insurance firms are really affecting overall business of the firm. Even in the competition the TATA AIG has attained many distinguished heights such as the online assistance to the customer, tale-calling…etc are few of them. It also awarded with ISO 9000:200 certificates for its performance and became the Second Company in the insurance sector to get this certification after ICICI Lombard. (Company Profile, 2010)

The insurance industry is very competitive in India even though there 37 insurance companies operating in Indian market only 16% of the total market is explored by 2009 and there is a large potential market is available for the firms to canvas. This 84% of the market comes around trillion billion dollar business. The majority of the opportunity is in the rural market and it is estimated that about 58% of the unexplored market is in the rural population. The urban population are aware of the insurance sector and they have a high inclination to purchase the insurance policies but the rural populations are not aware of the benefits of the insurance policies in addition to that the economic situation of the rural people are not allowing them to spend money on the insurance policies. (Singh, 2009)

The different policies that the TATA AIG offers to the customers have an advantage in the business. The population in the urban area are more attracted to these policies than the people of the rural population. The insurance policies such as the students’ medical insurance are very attractive for the middle class family who give importance to the study of their children and spend all their earning for that. The accident claim and health insurance policies are the most wanted policies of TATA AIG (Singh, 2009 & Ahluwalia, 2009)

1.2.2 Justification of the study

According to Khalid (2005), by year 2000 the total concept on the customers was changed, the customers were began to be considered as a tough target, the research studies have shown many new results on the customer traits and customer behaviours. Modern theories such a Customer Relationship Management began to experience the defects in canvassing and retaining the customers. The new concept Customer Value Management (CVM) was gained momentum by 2000. The concepts of the customer were changed and the values that the customer perceived on the products of the firms are being considered. The CVM is intended to enhance this value perception of the customer by providing the products and services according to the requirements of the customers.

In this proposed study the importance of the Customer Value Management in the insurance firms will be analysed. The insurance sectors are one of the few service sectors which can offer the services to the customers according to the requirements of the customers. the cost of change over firm more rigid policies to more flexible policies, which will safe guard the interest of the firm as well as the customers at the same, is minimum when compared to the production industries.

In the case of TATA AIG, the customer base can be expanded to many folds and the number of potential customer comes around multimillions and which brings cash inflow of billion of Rupees. The greatest problem which hinters such advancement is the perception of the customer majority of them are residing in the rural areas of India. the social and cultural aspects of the community is positive to the insurance concepts, the family bond and mutual consideration among the family members are few of the positive circumstance for the insurance industry to canvas the customers. The main problem in the sluggish growth of the insurance sector is the economic aspects of the country. The rural masses are economically backward and they seldom have enough disposable income to purchase the insurance policies. The only solution is to increase the awareness on the benefits of the insurance policies and provide them the policies according to the requirements of the rural masses. (Singh, 2009)

The studies conducted in 2009 have shown that around 58% of the potential customers are from the rural population and rest of the 28% of the potential customers are from the urban areas. Among this 58% only 23% of the people are belongs to the middle income group 11% are in the high middle income group and 3% are the elite group with enormous wealth. Only 21% of the rural population are lower middle class. This statistic’s are based on the number of potential customers who are belong to the Above Poverty Line (APL) strata of the society based on the policy of Indian government. The total number of people belongs to this category comes around 870 million by 2009. (Singh, 2009)

The justification of the study is based on these facts, the TATA AIG has the potential to canvas the customers and retain it the prospective market is worth of trillion US dollar businesses. The unfriendly policies are the main reason sluggish growth of insurance companies in India. The customisation of the policies and the retaining activities might improve the profitability of the firm.

1.2.3 Aim of the research

The aim of the proposed study is to identify the possible benefits that Customer Value Management brings in TATA AIG General Insurance Company Limited, Cochin, India. The research will be based on the current polices of the company and the choices of the customers.

1.2.4 Primary objectives of the study

To fulfil the aim of the research the following objectives are proposed in this study

1. To investigate Customer Value Management (CVM) concepts applicable to the insurance industries.

2. To study the comparative advantages of Customer Value Management (CVM) and Customer Relationship Management (CRM)

3. To examine the importance of CVM in TATA AIG Ltd.

4. To explore the criteria to determine the Customer Value in TATA AIG Ltd

5. To study the paybacks in Customer Value Management (CVM)

6. To investigate the potential benefits for TATA AIG Ltd through Customer Value Management (CVM)

7. To investigate the Risk and Challenges in the Customer Value Management (CVM) in TATA AIG Ltd.

1.2.5 Research Questions

The research questions are proposed based on the primary objectives of the study. The objectives should be divided into number of research questions which will help the researcher to reach the objectives of the study. (Kothari, 2002)

The following research questions are preferred for the current study

1. What are the basic theories of the Customer Value Management (CVM)?

2. What are the comparative advantages of Customer Value Management (CVM) over Customer Relationship Management (CRM)?

3. How does CVM will help the TATA AIG Ltd in improving the profitability?

4. What are the yardsticks in measuring the values of customers of TATA AIG Ltd?

5. What are the benefits that a service firm in general can have from the Customer Value Management?

8. What are the potential benefits for TATA AIG Limited through Customer Value Management (CVM)?

8. What are the risk and challenges involved in the Customer Value Management (CVM)?

9. What are the risk and challenges for TATA AIG Ltd that involved in the Customer Value Management (CVM)?

2. Research methodology of the study

2.1 Introduction

According to Kothari, (2002) research methodology is very important in research. By the term methodology means the method adopted in the study to investigate the research questions and to reach the research objectives. A well planned researcher work will have many benefits the first one is the saving of precious time and the second one is the reduction in the cost of research. The inherent benefits from the research methodology are that it gives the research the guidance to reach the objective of the study. The literature, survey methods and interviews are various sources of data, the proper handling of these data are very important for the success of the research. The research method used in a successful research can be adopted for the similar research works in future. The precedence has unavoidable role in the methodology because by this the research can effectively do his research work.

2.2 Research Methodology

In this research two different types of methodology are proposed, which are commonly used in social science researches such as Explorative and Constructive research methods

2.2.1 Explorative Research

This method is widely used by researchers all around the world, it is very important in every social science researches. The exploration of the data which can be gathered through various sources will be done through this method, thus the name exploratory research (Kumar, 2005).

In this current study the concepts of the Customer Value Management has great importance and the case studies on various companies on the CVM perspective will also be analysed. For all these activities the researcher has to look for details and view points on various aspect of the Customer Value Management. In other word the research will explore various data sources available. Concerned with the TATA AIG Ltd, the CVM has great importance and it has not implemented it yet, the possible benefits and the risk and challenges involved in the CVM has to be analysed prior to the actual research and for this various books, journals and articles have to be examined to get the grip the basic concepts. The various insurance policies of the company will be analysed though the company manual called ISO manual which is published every year.

2.2.2 Constructive Research methods

This is method is usually used in various researches in social science and scientific researches. It is also called as frame formation studies or standpoint analysis, the implication is that the study is used to form a frame of reference or skeleton for the study on the basis the entire study is focussed. The generalisability of the research will be depended on the frames which considered for the research to reach a conclusion (Malhotra, 2008).

In this proposed study, the frame of reference are the social-cultural and economic aspects of the customers of TATA AIG Ltd, the various factors which influence the purchase decision of the company. The insurance policies and the conditions of the policies are unique to TATA AIG Ltd and the preference of the customers are greatly depended on these factors so it essential for this study to formulate a frame of reference for analysing the data and reaching the conclusions.

2.3 Method of Study

In this study the methods are adopted to explore the data and reach the conclusions by analysing all the research questions. The data such as primary data and secondary data are required for the research. The primary data or the first hand data are important for this study because it will shed light on the purchase patterns and preferences of the customers. The secondary data which will be gathered through various paper and electronic sources such as books, journals and articles to gather the knowledge about concepts, application, implementation, risk and challenges of Customer Value Management.

2.3.1 Primary Data Collection

The primary data which also known as first hand data are collected though the survey methods. The survey will be conducted on the customers of TATA AIG Ltd. The survey will be based on the self constructed close end questionnaire which will be sent to them through e-mails. The questions in the questionnaire will cover the details of the purchase pattern, the opinion on the customer care service, the suitability of the policies…etc. of TATA AIG Ltd. The TATA AIG Ltd, Cochin branch will provide the list of customers in the Cochin and the customers will be selected from the lists on random sampling methods.

2.3.2 Secondary Data Collection

The secondary data collection is very important in this research as the Customer Value Management concepts are relatively new. The grip on the subject will help in the progress of the research. The various aspects of the Customer Value Management will be analysed through various secondary data sources. The secondary data sources such as books will be given prime importance to understand the concepts and its implication in the service sector. The other sources such a journals, articles and case studies will be used extensively to get the updated information on the practical applications, benefits, risk and challenges.

2.3.3 Data Analysis

In this research study the primaries as well as the secondary data have equal importance. The primary data which is in the form of close end questionnaire will be designed by using Likert Scale. The Likert scale will be used to convert the qualitative expressions into qualitative means so the statistical calculations can be done. The Data will be analysed using the Statistical formulas and using SPSS. The data presentation will be done using graphical methods and charts. The primary data then compared with the literature to reach a conclusion based on a strong theoretical grip.

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