CRM Strategies That Telecom Companies in India Could Make Use Of In the Coming Decade

by

ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I, [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

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ABSTRACT

In this study we try to explore the concept of Customer Relationship Management (CRM) in a holistic context. CRM has its source in the heart of the business challenges of companies. Convinced that competitive advantage was no longer the product, many companies seeking new sources of differentiation can offer new growth drivers. This was the beginning of loyalty programs, bonus points by credit card. Previously, customers were simply buying the company, and little has been done to build a relationship to get them to come back. CRM is now used to increase sales and improve customer service. The main focus of the research is on CRM and its Strategies in Telecommunication Companies in India. The research also analyzes many aspects of CRM and tries to gauge its effect on Indian Telecommunication Companies. Finally the research describes the marketing strategies for Telecommunication companies in India.

TABLE OF CONTENTS

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

Background of the Study1

Problem Statement2

Purpose of the Study3

Rationale of the Study3

Aims and Objectives4

Theoretical Framework4

Research Questions5

Ethical Concerns6

CHAPTER 2: LITERATURE REVIEW7

Phases of CRM7

Customer Behaviour7

Purpose of CRM8

CRM in Telecommunication Companies9

CRM Factors in Telecommunication Companies9

India's Telecom Revolution11

Current Scenario of Indian Telecommunication Industry12

CRM as a Business Model13

Customer Retention13

Customer Loyalty14

CRM Strategies for Telecommunication companies in India15

Satisfaction15

Reducing Switch cost17

Types of Switching Cost17

Improving Firm-Customer Interaction18

Customer Segmentation18

Personalize Customer Relationships19

Marketing in Indian Telecommunication Sector19

Formulation of Marketing Strategies20

Macro-Environment Variables20

External Analysis21

1.Economic Environment21

2.Demographic Environment22

3.Environmental Environment22

4.Technological Environment23

Marketing Strategies for Telecommunication Companies in India23

Cost Leadership24

Differentiation of Products24

Cost Focus24

Differentiation Focus25

REFERENCES26

CHAPTER 1: INTRODUCTION

Background of the Study

Up till the early 1980s "customers are seen as average statistic, passive buyers with a predetermined role of consumption. Market research and inquiries had very limited or no interaction with customers. It was the only method of communication in the old economy. As the business competition gets tougher in the 1990s, Kotler admitted the economy has shifted into a customer economy where companies became customer focused because customers are now more knowledgeable and in short supply (Petrazzini, 2001, 4). Customer Relation Management (CRM) systems were set up to manage valuable information about customers so that Customer Lifetime Value and Customer Retention can be enhanced. Customer Relationship Management (CRM) developed in 1990s (Palan, 2002, 32).

This was objected to how the client was seen earlier. Before the introduction of CRM, many companies do not care about catering to the customer. In the minds of leaders, they have vast resources and may simply replace the customer when necessary. This may be acceptable, before the 1980s, but the impact of the information age, customers may find it now ...