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ELC 310. Day 24. Agenda. Sixth Student Case Logistics.com A & B by Steve E-mail presentations at least 15 min before class so I may upload to web server Case studies are tied to proceeding chapters, make sure you discuss the connection

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elc 310

ELC 310

Day 24

agenda
Agenda
  • Sixth Student Case
    • Logistics.com A & Bby Steve
    • E-mail presentations at least 15 min before class so I may upload to web server
  • Case studies are tied to proceeding chapters, make sure you discuss the connection
  • Discussion/lecture Build a Trusting Relationship with Customer
case study grading rubric corrected
Case study Grading rubric (corrected)
  • Grade Generation for analysis
      • Demonstrated Mastery of Case Study 35%
      • Understanding of How Case Study Fits 35%
      • Presentation effectiveness 10%
      • Quality of PowerPoint 10%
      • Ability to Engage the Class in Discussion 10%
  • 2nd round of grades will be posted Dec 12
rest of schedule
Today

Logistics.com A & B (Steve)

Build a Trusting Relationship with Customers

Dec 9

Course evaluations

Travelocity (Randy)

The Future of Digital Marketing

Dec 12

Citibank Online (Emlyn)

Take Home Quiz #4 Assigned

Dec 17 @ 1 PM

Take Home Quiz #4 Due

Written Case Study & Presentations Due

Rest of Schedule

® Tony Gauvin, UMFK , 2007

overview
Overview
  • Introduction
  • Trust is a process
  • CRM
  • Cross selling
  • Constant Innovation
introduction
Introduction

Understanding customer needs and behavior

Formulate a strategy to fill needs

Implement effectively and efficiently

Build trusting relationship with customers

  • Theory T
    • Trust is inherent
  • Theory P
    • Relationship is adversarial
trust is a process
Trust is a Process
  • Trust comes from fulfillment of a a promise
    • Does not require perfection
    • Requires honesty
  • Two phases in company/customer relationship
    • Building Trust while acquiring customers
      • Set expectations
      • Show evidence that expectations were meet for previous customers
        • 3rd party endorsements
    • Building trust after acquiring customers
      • Follow through on expectation set in customer acquisitions phase
        • Direct experiences
    • Web plays role in both phases
slide8
CRM
  • Goal is to create loyal, profitable customers
  • Strategy that provides a company with a complete view of its customer base
    • Technology drives the strategy
  • Key outcomes
    • Increased profitability
    • Friendly interactions with customers
    • Increased communication
    • Greater market responsiveness
cross sell and grow relationship
Cross Sell and Grow Relationship
  • Cross Sell
    • The sale of additional products and services to a customer
  • Once a trusting relationship is built with a customer you have an opportunity to offer other products to the customer
    • Leverage the trust
    • Better customer <> product matching
constant innovation
Constant Innovation
  • CRM requires constant innovation
    • Customer needs are changing
    • Help customer move in directions the customer wished to go
  • Examples
    • GE
    • First Tech CU
ge aircraft engines
GE Aircraft Engines
  • GE Aircraft Engines before
    • $11.4 Billion of $126 billion
      • 1996 Services was $1 billion
      • 2001  $5 billion
    • Sell engines at LOW prices
      • Sell 30 year of parts at high price
  • Now  reduce TCO
    • Material by the hour
    • Power by the hour
    • At the customer, for the customer
first tech cu
First Tech CU
  • Credit Union History
    • Initially a German idea (1864, Raiffeisenbank)
    • Made popular in North America by French Canadian Alphonse Desjardins From Québec (Caisse populaire de Lévis on 1901)
    • CU’s in US spread into New England by French Canadian immigrants
  • CU are inherently trusted due to organizational structure (owned by the depositors)
  • First Tech is a CU created by Microsoft , Intel and other high tech company employees
    • Uses on-line advisors
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