The customer promise Which means, fulfilling the needs what one would consider as the cost of entry: a clean and secured room, a comfortable bed, a functional alarm clock, a luxurious and excellent working shower, hot water, etc. Eventually it is more the physical property which is seen as a requirement.
Technology Innovation Group Report Cultural differences in innovation management April 1st D. Solntseva D. Polyakov D. Prorok K. Filimonova MIB 2013 GSOM SpbSU TABLE OF CONTENTS. EXECUTIVE SUMMARY... 2 1. INNOVATION AND NATIONAL CULTURE.. 2 1.1 Italy.. 2 1.2 France.. 4 1.3 Germany... 5 1.4 The USA...
The goal: Eli Goldratt. Systems Thinking Introduction. The following report depicts the use of the Theory of Constraints and how it can advance organizations towards the overall goal that is the same for every business regarding profit. Theory of Constraints is a concept that created by Eli Goldratt
The Hong Kong Polytechnic University
Customer Managed Relationship (CMR)
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Case study ---------------- P.3-5
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Customer relationship management (CRM) is a concept that achieved more recognition in late 1990s.
CRM is of paramount importance for firm success. However, there is still in lack of a generally agreed definition of CRM. Law et al. (2003) points out that there are 3 major different views of CRM and there is no a concrete definition of CRM yet. However, Law et al. (2003) suggested that all three perspectives acknowledge that CRM is indispensable from the use of information technology.
Law et al, (2003) pointed out that traditional CRM starts from the firm’s perspective, pushing the product and service to customers, such as the B2B and B2C models.
They argue that modern CRM should adopt a Customer-Managed Relationship(CMR) approach where firms make customers as the starting point and understand what they need (C2B model) rather than pushing products and services from the firm to customers. In CMR, customers informs firms what they want individually and firms’ duty is to provide assistance and suggestion to help the customers to solve the problems, and in this way, relationship can be developed.
The authors also suggested that companies should mainly focus on identifying and working with the highest-value customers, and to maintain value-added relationships with them. Also, in order to enhance competitive advantages, a firm need to develop strong networks with other parties to provide a larger service package for customers. Therefore, it is vital to create a co-creative environment so that the linkages of customers, companies and other parties can be firmly connected.
Through utilizing e-service platform, a wide range of service is delivered to customer with the assistance of information technology, such as online ticket booking, online boarding, luggage package purchase, food ordering, seats selection, frequent flyer program, flight departure reminder via SMS and etc. The platform provides customers with services that removes the hassle of getting on board, and create a joyful flight experience for them, hence building trust and satisfaction as well as gaining higher customer loyalty.
The above illustrated examples indicated Cathay Pacific’s approaches in implementing CMR in their business and aim to serve different customers with different prefe.....