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A Project Report on Customer Relationship Management At Make Every Day Exciting A PROJECT REPORT ON CUSTOMER RELATIONSHIP MANAGEMENT AT FORTUNE FORD MOTORS SOMAJIGUDA, HYDERABAD. BY MOHAMMED HASSANUDDIN STUDENT OF BBA(2009-11) AMITY GLOBAL BUSINESS SCHOOL(HYD) 1 Make Every Day Exciting INDEX OF CONTENTS CHAPTER 1: - 1.1 - OBJECTIVES OF THE STUDY 1.2 - SCOPE 1.3 - NEED OF THE STUDY CHAPTER 2: - INTRODUCTION 2.1 - Introduction to MARKETING CHAPTER 3: - BRIEF DESCRIPTION OF THE ORGANISATION 3.1 - About Ford Company 3.2 - Company profile of Fortune Ford Motors 3.3 - History of Ford in INDIA 3.4 - Fortune Ford products 2 Make Every Day Exciting CHAPTER 4: - THEORETICAL PERSPECTIVE -Introduction To CRM -Concept & Definition -Benefits of CRM -CRM across Company Functions -Concept of Relationship Management -Potential Returns of CRM systems -Benefits to Organisation -Benefits to Customer -Marketing Strategy -Strategic Market Segmentation -Marketing Strategies of Ford CHAPTER 5: - RESEARCH METHODOLOGY CHAPTER 6: - ANALYSIS & INTERPRETATION 3 Make Every Day Exciting CHAPTER 7: - FINDINGS & SUGGESTIONS CHAPTER 8: - LIMITATIONS OF THE STUDY APPENDIX -QUESTIONNAIRE -BIBILOGRAPHY INTRODUCTION: 4 Make Every Day Exciting CUSTOMER RELATIONSHIP MANAGEMENT A customer is the most important person ever in this office….. In person or by mail A customer is not dependent on us…… we are dependent on him. A customer is not someone to argue or match wits with. Nobody ever won an argument with a customer. A customer is a person who brings us his wants. It is our job to handle then profitably to him and to ourselves. Customer relation as a tool for identifying way to create more customer value & satisfaction. Every firm is a synthesis of activities that are performed to design, produce, and market, deliver, and support its product. Many companies are intent on developing stronger bonds with their customers-called Customer Relationship Management (CRM) . This is the process of managing detailed information about individual customer and carefully managing all the customers "touch points" with the aim of maximizing customer loyalty... A successful business must have satisfied customers. We will treat them as we would wish to be treated ourselves. They require an excellent service and our work ust therefore be undertaken with our customers as the key focus, providing better products and services then our competitors. We will measure the quality of service and look for continual improvements. The aim of Customer Relationship Management (CRM) is to produce high customer equity. Customer equity is the total of the discounted lifetime values of all of the firm's customers. Clearly, the more loyal the customer, the higher the customer equity, rust, Zenithal, and Lemon distinguish three drivers of customer equity; value equity, brand equity, and relationship equity 5 Make Every Day Exciting CHAPTER 1 6 Make Every Day Exciting OBJECTIVES OF THE STUDY The main objective is to determine the current relationship management level of the customers with all aspects in regard to “Fortune Ford Motors”. 1.1 Objectives in Detail: 01. To determine current relationship management level of the customers with all aspects of their delivery. 02. To determine key dissatisfaction areas, if any. 03. To identify different customers needs in regard to a Fortune Ford Motor cars services. 04. To identify what type of marketing strategy is suitable for the company to reach the targeted customers. 05. To enable the company's customer care department to handle the customer's queries more effectively and efficiently. 06. To enable the sales team to promote sales effectively through maintaining Customer relation. 07. To generate new leads through customer satisfaction. 7 Make Every Day Exciting 1.2 SCOPE OF THE STUDY : The scope of the study is to identify the customer relationship management level towards "Fortune Ford Motors". The study was conducted for a period of 45 days covering various places in Hyderabad & Secunderabad city. Primary data was collected from customers. Secondary data was collected from company manuals, magazines and websites and so on, the study gathers information about the customer's relation maintaining in the car level in regard to Quality of Service, Safety Tips , fuel saving tips, driving tips etc.., customer care service and other values added services provided by the company. It is aimed at enlightening the company about different steps to be taken up to increase the share of "Fortune Ford Motors" with regard other competitors and also to make the company to provide better customer services 8 Make Every Day Exciting 1.3 NEED FOR THE STUDY: Customer relationship management plays a major role for the growth of the company in the modern market scenario. In the case of "Fortune Ford Motors" cars industry due to different network services providers there is a huge competition, to compete with the competition customer's relation plays a major role for any company. The purpose of customer relation is not only for retaining the customers but also attracting new customers, increasing the sales and maintenance of brand awareness. Customer perceptions attitudes and views regarding the products and services, along with suggestions assume greater importance in the light of new entries and potential competitors, this study is an attempt that directs to facilitate the management in marketing their future decisions in promoting and creating a good image in the society. 9 Make Every Day Exciting CHAPTER 2 INTRODUCTION TO MARKETING 10 Make Every Day Exciting Markets: The concepts of exchange and relationships lead to the concept of a market. A market is the set of actual and potential buyers of a product. These buyers share a particular need or want that can be satisfied through exchange relationships. Marketing means managing markets to bring about profitable customer relationships. However, creating these relationships takes work. Sellers must search for buyers, identify must first create a need-satisfying marketing offer (product). It must decide how much it will charge for the offer (price) and how it will make the offer available target consumers (place). Finally, it must communicate with the target customers about the offer and persuade them of its merits (promotion). Marketing: Marketing is the business function that identifies customer needs and wants. Creating customer value and satisfaction are the heart of modern marketing thinking and practice. Marketing is the delivery of customer satisfaction at a profit. Many people think of marketing only as selling & advertising. But selling & advertising are only the tip of marketing. Marketing means managing markets to bring about exchanges and relationships for the purpose of creating value and satisfying needs & wants. 11 Make Every Day Exciting Today, marketing must be understood not in the old sense of making a sale – ‘’telling and selling’’ – but in the new sense of satisfying customer needs. If the marketer does a good job of understanding consumer needs; develops products that provide superior value; and prices, distributes, and promotes them effectively, these products will sell very easily. Thus, selling and advertising are only part of a larger ‘’marketing mix’’ – a set of marketing tools that work together to satisfy customer needs and build customer relationships. Broadly defined, marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging value with others. In a narrower business context, marketing involves building profitable, value – laden exchange relationships with customers. Hence, we define marketing as the process by which companies create value for customers and build strong relationships in order to capture value from customers in return. Customer Needs, Wants, and Demands: The most basic concept underlying marketing is that of human needs. Human needs are states of felt deprivation. They include basic physical needs for food, clothing, warmth, and safety: social needs for belonging and affection: and individual needs for knowledge and self – expression. These needs were not created by marketers: they are a basic part of the human makeup. Wants are the form human needs take as they are shaped by culture and individual personality. An American needs food but wants a Big Mac, French fries, and a soft drink. A person in Mauritius needs food but wants a mango. Rice, lentils, and beans. Wants are shaped by buying power, wants become demands. Given their wants and resources, people demand products with benefits that add up to the most value and satisfaction. 12 Make Every Day Exciting Marketing Management: The analysis, planning, implementation and control of programs design to create, build and maintain beneficial exchanges with target buyers for the purpose of achieving organizational objectives. Marketing Management concepts ProducProduc ProductionProduction SellingSelling MarketingMarketing SocietalSocietal tt Production concept: Management should focus on improving production and distribution efficiency. When the demand for a product exceeds the supply, management should looks for ways to increase production. When the products cost is too high, improved productivity is needed to bring it down. Product concept: Consumer will favour products that offer the most quality, performance and innovative features. Thus, an organization should devote energy to making continues product improvements. Selling concept: Consumers will not buy enough of the organizations products unless its
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