DBB3201 CUSTOMER RELATIONSHIP MANAGEMENT JULY-AUG 2025

Description

SESSION	JULY-AUG 2025
PROGRAM	BACHELOR OF BUSINESS ADMINISTRATION (BBA)
SEMESTER	VI
COURSE CODE & NAME	DBB3201  CUSTOMER RELATIONSHIP MANAGEMENT

 

 

Assignment Set – 1

 

Q1. Define Customer Relationship Management (CRM). Discuss its importance in building long-term customer relationships and explain the economics of CRM. 3+7

Ans 1.

CRM

Customer Relationship Management (CRM) refers to a strategic process of managing a company’s interactions with existing and potential customers using data, technology, and relationship-building practices. It integrates sales, marketing, service, and analytics to enhance customer satisfaction and loyalty. CRM focuses on understanding customer needs, tracking customer behavior, and creating personalized experiences that strengthen long-term

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Q2. Explain the process of CRM adoption and implementation. Highlight the major phases of the CRM cycle. 3+7     

Ans 2.

CRM Adoption and Implementation Process

CRM adoption and implementation refer to the systematic steps taken by an organization to integrate CRM strategy, technology, and processes into its operations. The adoption process begins with understanding business goals, evaluating customer needs, and selecting an appropriate CRM solution. Implementation includes configuring the system, training employees, redesigning workflows, and ensuring smooth integration with existing

 

 

Q3. Discuss the role of Customer Relationship Management (CRM) in BFSI industries (Banking, Insurance, Small Finance, and Loans). Explain the essential components of CRM in BFSI with suitable examples. 5+5           

Ans 3.

Role of CRM in BFSI Industries

CRM plays a transformative role in Banking, Financial Services, and Insurance (BFSI) because the sector heavily relies on trust, long-term relationships, and personalized services. In banking, CRM helps track customer transactions, preferences, financial behavior, and service requests. This enables banks to offer customized loans, investment plans, and digital services tailored to customer needs.

For insurance companies, CRM enhances policy management, claim handling, and risk

 

 

Assignment Set – 2

 

Q4. Explain the role of interactive technologies in CRM. Discuss different types of technologies and their product offerings in the CRM market space. 3+7

Ans 4.

Role of Interactive Technologies in CRM

Interactive technologies play a transformative role in Customer Relationship Management by enabling two-way communication, real-time engagement, and personalized experiences between customers and organizations. These technologies help businesses gather customer insights, automate interactions, deliver instant support, and maintain continuous engagement across channels. By integrating interactive platforms such as chatbots, social media tools,

 

 

Q5. Discuss the importance of developing a relationship orientation in CRM. How does customer-centric marketing strengthen long-term business processes? 5+5

Ans 5.

Importance of Developing Relationship Orientation in CRM

Relationship orientation in CRM emphasizes long-term engagement with customers rather than focusing solely on short-term sales transactions. It promotes trust, loyalty, and mutual value creation. One of the key reasons it is important is that customer expectations have evolved, and modern customers prefer brands that understand their needs and deliver personalized experiences. Relationship-oriented CRM strategies ensure continuous

 

Q6. Discuss the significance of customer retention in CRM. How can organizations learn from customer defections and evaluate retention programmes effectively? 3+7 

Ans 6.

Significance of Customer Retention in CRM

Customer retention is a critical component of CRM because it focuses on keeping existing customers satisfied and loyal. Retention is more cost-effective than acquiring new customers, and loyal customers contribute significantly to profitability. Retained customers engage in repeated purchases, participate in loyalty programs, provide referrals, and act as brand advocates. CRM systems help track customer behavior, identify satisfaction levels, and