CRM Assignment (20 marks)CRM in Practice: How does your company practice customer focus / CRM?Preamble:Customer focused organizations are able to ensure higher profitability and better share of wallet of their loyal customers. The benefits that can accrue by focusing on customers can be several launch of products that ensure satisfied customers, lesser cost of transactions with customers (lesser commitment of scarce resources), lesser mass media promotions etc. It can be presumed that companies practice customer focus through several key initiatives viz. choosing the right (or key) customers; deep understanding of their needs through suitable engagement opportunities, collecting and analyzing data pertaining to customer transactions and interactions etc. After speaking to relevant executives in your company, please answer the following questions:1. Who are your key customers? (You need not name the customers but provide detailed profiles that fit the profile of your key customers interms of their demographics, psychographics, geographical locations etc.)

2. Explain how you create engagement opportunities with key customers to discover their aspirations and intricate needs? (Give specific examples of engagement and NOT statements like meetings with customers)

3. What approach is taken to ensure a deeper understanding of the key customers? (Explain what kind of data is captured, how the data is analyzed, what are the ways in which cross-functional data is incorporated to create a unified view of the customer?)

4. How do you ensure that the customer has a wonderful experience from the pre-purchase stage to the post-purchase or re-purchase stage?

5. How does customer focus activities help in delivering better value and increased share of wallet? Does it help to increase the profitability of the company? (e.g. better product ideas, increased customer loyalty, lesser transactional costs and overheads etc.)

6. Has customer focus / CRM helped you to undertake better personalization, cross selling and up selling? Have you tried using campaign management or sales force automation successfully? (Give illustrations how they were used in practice)