CRM, CLV, customer relationship management, perceptions
Review the activity below or download the PDF student worksheet
Student Discussion Task
In this exercise, you will evaluate the potential benefits and limitations of customer relationship management (CRM).
Below you will find a list of statements and you need to indicate the degree that you agree or disagree with them.
- The main purpose of CRM programs is to build relationships with ALL customers.
- All CRM programs should include a loyalty program.
- In reality, most customers DON’T want a relationship with the firms they deal with.
- CRM is a popular marketing issue because a high percentage of firms have experienced success with these programs.
- Successful CRM programs need the support of sophisticated IT software.
- In theory, all organizations would be able to benefit by introducing some form of a CRM program.
- An efficient CRM program should be able to create customer relationships very quickly.
- Retail loyalty programs have been widely adopted in many countries due to their efficiency in creating loyal customers.
- The increase of online marketing activities reduces the need for CRM programs.
- The success of CRM programs are heavily dependent upon the quality of the firm’s sales and service staff.
Student Discussion Questions
- Start this exercise by highlighting which statements you agree/disagree with
- Given your response in Q1, what is your general perception of customer relationship management programs?
- Therefore, how would you define CRM?