Effects of CRM on the Hospitality Industry
At a very strategic level, CRM has made the hospitality industry much more attuned to the preferences, wants and needs of guests. It has also created a more responsive industry by capturing the needs of customers more efficiently and economically than was ever possible before. Specific areas that have changed the most include more of a focus on making multichannel strategies, from websites to Facebook, Twitter and other social networks, more responsive to the needs of the guest to provide feedback (Lim, Saldana, Saldana, Zegarra, 2011). There are also more effective analytics being used than ever before, creating greater insights into guest's patterns of purchasing not only accommodations but amenities as well (Phillips, Louvieris, 2005). CRM's effect on the hospitality industry is very significant, bringing a strong customer orientation to the industry and also giving hoteliers and service providers much greater insights into how they can position their brands, locations and specific services. It has revolutionized the sales, marketing and services of this industry as a result.
Ethical Implications of CRM in the Hospitality Industry
In any technology initiative that includes the capturing and use of customer data, there are ethical decisions that need to be made in the context of how the data is stored, used, analyzed and sold or not. Many companies today are looking to advanced CRM technologies to safeguard the data they use in cloud computing platforms. Salesforce.com uses a cloud platform exclusively, and has been able to successfully show that this technology is safe for customer data. Marketers who capture customer data have an ethical responsibility to manage it securely, accurately while only using it for their purposes of selling their services (Murphy, Olaru, Schegg, Frey, 2003). The unauthorized sale of customer records...
CRM and Car Buying The world of business has come a long way since the only maxim was "The customer is always right." One of the most important new versions of that age-old wisdom is the model of "customer relationship management" or CRM. This paper examines that strategy, which is a model of doing business in which various techniques are used to learn more about the needs and behaviors of the
Technology: Customer Relationship Management The lifeblood of any business are its customer relationships and the lifetime value of customers from one product or service generation to the next. As cost and time pressures impact a business however they often resort to dealing with customers on transactions only, not investing the time in fully understanding their needs. As the text and course have shown, the integration of technologies into customer relationship strategies
Customer Experience as Segmentation Basis: The �Luxury� in Question 1Case study on Customer Experience as Segmentation Basis: The �Luxury� in Question1. �What are the conventional bases for segmenting the target audience? What relevance do segmentation platforms like Demographic, Geographic, Psychographic and Behavioral (including VALS & PRIZM models) hold in the wake of increased competition, private label proliferation, rivalry from the unorganized sector, and e-tailing? Gaining traction?�Segmentation is mainly based on
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In conclusion, this book shows conclusively that customers' expectations are continually increasing while the most forward-thinking companies are attempting to continually integrate social networks and social media into their marketing, selling and service platforms. Based on the assessment of Mr. Greenberg and his case studies, the early adopter companies are very successful with this strategy of meeting and exceeding customer expectations. Xu, M., & Walton, J. (2005). Gaining Customer Knowledge
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