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.
The purpose of a Customer Relationship Management strategy in the AdSim Advertising Simulation is to decide which policies you will implement to try and keep Existing Customers loyal to your brand.
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? Entry level, Mid-Level or Custom Built.
What length of Warranty that you want to offer your customers? 90 Days, 180 Days, One Year or Two Years.
What level of a customer service do you want to provide? A manual, a knowledge base, Support Center, SmartCare.
What type of customer loyalty program do you want to administer? A regular newsletter, a photo contest, video contest.
You are required to choose which option you think best targets your customers within your budgetary constraints.
You will be able to measure the effectiveness of your Customer Relationship Management strategy through the Market Demand report and the Market Survey of Customer Needs. These are available on the CRM decision screen.