Research Of Customer Relationship Management In Cb Group

Customer Relationship Management is essential to the profitability and sustainable success of an enterprise in a market with keen competition nowadays. It can help maximize the profit of an enterprise by way of relationship establishment with particular customers and management of the relationship with them. Customer relationship management influences, to some extent,the development of an enterprise and the exploration of the market. CRM has been regarded as one of the most competitive and cost effective strategy in the 21st century, the goal of CRM is to look for and secure targeted customers, to maintain and extend the customers to achieve the corporate vision.CB is one of the biggest manufacturers in electricity circuit protection industry. Nevertheless, under the circumstances of low pricing strategy implemented by competitors and low cost demand from customers, it is imperative to improve the current customer relationship management in order to enhance customer loyalty degree and maintain long term stable and sustainable customer relationship and in return to survive and excel from the fierce market competition.The thesis introduces the theory of Customer Relationship Management and theory related at the first place, it elaborates the current status of CRM at CB, the advantage and disadvantage. By avail of CRM theory, the thesis recommends to integrate the information and to improve the core business process engineering, structure and staffing to optimize CRM. Along with the steadily fast speed development of internet economy, the fierce market competition together with customized demand from customers, the strategy to pursue outstanding quality and high customer value has been challenged unprecedentedly than ever before. The enterprise has to switch to the strategy of customer-oriented and to provide product of high customer value and positive customer experience to attract and keep valued customers and to fulfill the long term development goal of the enterprise. The opening of the thesis states the background and the purpose of CRM. The second part introduces the theory of customer relationship management and the theory related to CRM, including the definition of CRM, history, customer life cycle, customer value and customer loyalty degree, etc. The third part uses SWOT and Michael Porters Five Forces Model to analyze the strong and weak points of CB group in the electricity circuit protection industry, the shortcoming in customer relationship management, including sales oriented corporate culture & pyramidal structure, etc. The fourth part proposes to identify valued customers, to differentiate customers, to interact with customers and to implement the customer oriented CRM strategy via the optimum of internal process and the integration of structure and staff. The fifth part mentions the assessment of the efficiency of CRM and the continuous improvement of CRM. The thesis sets up a criterion on the basis of BSC theory to assess the operational performance from four aspects,finance, customer, internal process anstudy &innovations included, and to sets up the performance review index of customer service staff to improve customer loyalty degree. The sixth part is the conclusion of the thesis.The study on the improvement of CRM at CB Group is of help to establish long term and mutual beneficial relationship between enterprises and customers, therefore the thesis can act as a guild for enterprises related to implement CRM.