What is Customer Relationship Management (CRM)?
Three periods into the simulation and you will be given control of your firm’s Customer Relationship Management strategy.
Customer Relationship Management or CRM is an approach to manage a company’s interaction with current and potential customers.
Retention of Existing Customers is a key part of how to win AdSim and this is your main decision for keeping them satisfied with your Customer Service Level.
Purpose of CRM
The purpose of a Customer Relationship Management strategy in AdSim is to decide which policies you will implement to try and keep Existing Customers loyal to your Digital Camera brand.
You will be able to measure the effectiveness of your Customer Relationship Management strategy through two market research reports:
- The Customer Relationship Management Evaluation report.
Showing your adverts to a focus group of New and Existing customers and asking them to rate your current strategy’s appeal.
- Competing Products Customer Relationship Management Options.
A comparison of your product’s Customer Relationship Management Options with its competition.
CRM Decisions In AdSim
In AdSim you are required to make decisions about four elements of your Customer Relationship Management strategy:
- CRM SYSTEM
Decide whether or not you want to invest in a Customer Relationship Management database system? And if so what type? e.g. Entry level, Mid-Level or Custom Built.
What length of Warranty that you want to offer your customers? E.g. 90 Days, 180 Days, One Year or Two Years.
What level of a customer service do you want to provide? E.g. A manual, a website too, an e-mail helpdesk, or a telephone helpdesk too.
What type of customer loyalty program do you want to administer? E.g. nothing at all, a regular newsletter, a regular photo contest or even a photo school.
On each tab of the decision screen, i.e. CRM System, Warranty, Support and Loyalty you are required to choose which option you think best targets your customers within your budgetary constraints.
Note that each option has a cost associated with it and that amount will be deducted from your Promotion Budget if you select that option. Generally the greater the cost of the option, the more appeal it will have to your market.