New Profit Opportunities in Dairy to 2008: Industry insights and NPD trends

Published by: Business Insights

Published: Oct. 4, 2004 - 206 Pages

Table of Contents

• Customer Relationship
  
• Management (CRM)
  
• Summary
  
• Introduction
  
• 21st century attitudes towards banks
  
• How marketing oriented is your company?
  
• Benefits of developing relationships
  
• Relationship marketing versus transactional marketing
  
• Eight major benefits of developing relationships
  
• Long-term profitability
  
• Lower costs
  
• Repeat customers often cost less to service
  
• Opportunities for cross-selling
  
• Defection less likely
  
• Employee retention
  
• Family influence
  
• Satisfied customers provide referrals and may be willing to pay a
  
• price premium
  
• A customer retention plan: reducing defectors and boosting retention
  
• rates
  
• Measure customer retention
  
• The crude retention rate
  
• The weighted retention rate
  
• Ascertain defection motives
  
• Price defectors
  
• Market defectors
  
• Are all customers the right customer?
  
• Identifying profitable customers for CRM
  
• First group of customers to target
  
• The middle group of buyers
  
• The final, less profitable, group of customers
  
• Implementing relationship marketing
  
• Defining the value proposition
  
• Case study: First Direct
  
• Meeting consumers diverse requirements
  
• Delivering superior value and engaging entire organisation
  
• Implications for practice
  
• Demonstrating trustworthiness
  
• Generalised trust
  
• System trust
  
• Personality based trust
  
• Process based trust
  
• Who owns the customer?
  
• Effects of merger activity
  
• The “customer is king”
  
• “Everyone owns the customer”
  
• Sharing information companywide is crucial to widening customer
  
• ownership
  
• How to evaluate your company’s success in offering customer satisfaction

Chapter 2 Creating Value for the

• Organisation
  
• Summary
  
• Introduction
  
• Developing a segmented service strategy that aims to deliver increased value
  
• to the customer and the organisation
  
• Step 2: Segment the customer base and determine segment value
  
• Step 3: Identify segments’ service needs
  
• Step 4: Implement segmented service strategy
  
• Finalise segment service strategy plan
  
• Chapter 3 How To Tackle Customer
  
• Defections
  
• Summary
  
• Introduction
  
• Case study: Abbey
  
• Defection can be remedied
  
• Possible reasons for customer defection
  
• What are the factors that force customers to switch?
  
• Retaining customers in a competitive business
  
• Loyalty must start to count for something

Chapter 4 Achieving Customer Satisfaction

• Through Service Quality
  
• Summary
  
• Introduction
  
• Financial services characteristics and their implications for branding and
  
• relationship management
  
• Intangibility
  
• Implications for branding
  
• Inseparability
  
• Implications
  
• Heterogeneity
  
• Implications
  
• Perishability
  
• Implications for branding
  
• Fiduciary responsibility
  
• Two-way information flows
  
• Implications
  
• Impact of online delivery for service concepts
  
• Consumer empowerment
  
• Effective separation of production and consumption
  
• Service quality
  
• Example: customer care at the ANZ bank
  
• ANZ’s ‘Customer Service Charter’
  
• Researching service quality
  
• Research objectives
  
• The most common research objectives in financial services
  
• Research methods
  
• Regular customer surveys
  
• Customer panels
  
• Transaction analysis
  
• Mystery customers
  
• The SERVQUAL methodology
  
• What to measure
  
• How to measure
  
• Internet customer questionnaire

Chapter 5 The Implications of eCommerce
for CRM

• Summary
  
• Introduction
  
• How should financial firms respond?
  
• Example: internal marketing at Barclays
  
• How different companies are approaching eBusiness
  
• The reluctant approach of a life insurance company
  
• The integrated approach of a national retail banking operation
  
• The focus for change in an international insurance company
  
• The stand-alone Internet bank
  
• Key factors in developing effective strategies for eCommerce
  
• The role of senior management
  
• Capabilities required in a changing environment
  
• Critical success factors
  
• The threat of criminal activity on eCommerce
  
• Ways to help customers protect themselves against fraud

Chapter 6 Avoiding the Pitfalls in CRM

• Summary
  
• Introduction
  
• Peril 1: Implementing CRM before creating a customer strategy
  
• Example: Fidelity Investments
  
• Peril 2: Rolling out CRM before changing your organisation to match
  
• Peril 3: Assuming that more CRM technology is better
  
• Peril 4: Stalking, not wooing customers
  
• Chapter 7 Appendix
  
• Example
  
• Part A

List of Figures

• Figure 1.1: First Direct customer communication preferences
  
• Figure 2.2: The customer profitability matrix
  
• Figure 2.3: A framework for developing a segmented service strategy that aims to deliver
  
• increased value to the customer and the organisation
  
• Figure 2.4: Market maps
  
• Figure 2.5: The segment competitor profile of an insurance company
  
• Figure 3.6: Consumers are more demanding than ever
  
• Figure 3.7: More consumers plan to switch in the next 12 months
  
• Figure 3.8: Factors that erode satisfaction and trust
  
• Figure 4.9: Reasons for customer loyalty
  
• Figure 5.10: Reasons for customer preference for face-to-face contact
  
• Figure 5.11: Complex products sell in the branch
  
• Figure 5.12: Newcastle Building Society’s virtual customer service assistant
  
• Figure 6.13: The imperatives of CRM
  
• Figure 6.14: The imperatives of CRM, continued

List of Tables

• Table 1.1: The contrasts between transaction and relationship marketing
  
• Table 1.2: Customer satisfaction exercise
  
• Table 2.3: Customer management stage analysis, problems and opportunities
  
• Table 4.5: A comparison of different online metric collection methods
  
• Table 7.6: Dimensions of Internet banking service quality
  
• Table 7.7: Expectations of an excellent online bank, Part A
  
• Table 7.11: Expectations of an excellent online bank, Part B

Abstract

About MarketResearch.com
MarketResearch.com is an online aggregator selling over 160,000 market research reports, company profiles and country profiles from over 600 research firms. Our reports will provide you with the critical business and competitive intelligence you need for strategic planning and marketing research. Coverage includes the US, UK, Europe, Asia and global markets.