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Research on Customer Relationship Management Driven by Customer Value

Author: MengQingLiang
Tutor: HanYuQi
School: Nanjing University of Technology and Engineering
Course: Management Science and Engineering
Keywords: Customer Relationship Management (CRM) Customer Value Relationship Value Value Proposition Relationship Commitment Artificial Neural Networks (ANN) Optimal Control Balanced Sorecard (BSC)
CLC: F274
Type: PhD thesis
Year: 2006
Downloads: 3397
Quote: 12
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Abstract


With the development of network economics and the fury of the competition, thestatus and roles of customers have taken great place. The behavior and attitude to productsand services of customers are increasingly significant for enterprises’ survival. It forcedenterprises to develop and maintain the relationship with customers at a strategy level togain sustainable competitive advantages. The paper aims at to develop an integratedframework for customer relationship management (CRM) driven by customer value on thebases of uncovering the current traps and problems in customer relationship managementresearches and practices. The main contents are as follows:1. Through analyzing the new characteristics of customer value under E-Commercepattern and the changes of customers’ role, retrospecting the origins and divergentperspectives of customer relationship management, combining the theory of competitiveadvantage, the paper introduces the theory of customer relationship management driven bycustomer value, and proposes that CRM should be considered as a strategy driven bycustomer value, and effective CRM practices must be customer value oriented. Thedefinition of customer value is analyzed and the key dimensions of customer value areidentified, then the paper proposes the significance of strategy driven by customer value.Based on the selection criteria, a CRM strategy model driven by customer value is set up.Five key cross-functional CRM processes are identified: the customer value mining andidentifying process; the value creation process; the value delivery process; the CRMperformance assessment process and the customer knowledge management process. Thecharacteristics of the CRM strategy model driven by customer value mainly embodied twoaspects: the strategy driven by customer value and dynamic customer relationshipmanagement.2. The exploration of custome value is the precondition of implementing CRMstrategy driven by customer value. Based on the analysis of the service quality gaps model,it can be found a new perspective to study customer value, and we used the method ofempirical study to establish customer value network model through separating all the valueelements into means objectives and ends objectives. Then we developed a measurementmodel of customer value. It can be applied to quantify and determine value proposition andthe opportunity algorithm is proposed to determine the prompting elements (potentialelements) and maintenance elements of customer value. At last, we illustrate the model through the case study to testify its feasibility and validity.3. Customer identification and how to allocate the limited supply capacity based oncustomer performance for enterprises to implement CRM strategy are very significant. Wedesign a new index system about customer performance evaluation combining theelements obatained from customers’ perspective. The index system supplies the gap of thetraditional method that only based on suppliers’ perspective. Then, neural networks areselected as the evaluate method to gain customer priorities. Based on these, two decisionsupport models are developed to allocate the total marketing or service supply capacityamong customers as supply quotas. The approach is implemented in MarketingDepartment of Xuzhou Construction Machinery Group Co., Ltd to validate its feasibility.4. After identifying the key customers, it is very important to optimize the efforts tomanage the relationship. From the interactive perspective between customers andenterprises, relationship commitments as the essence of customer relationshipsustainability are analyzed, and we consider four main factors that drive the levels ofrelational commitments between enterprises and customers: the trust, the perceived valuedelivery, the opportunism and the relationship management efforts of the enterprises. Then,based on the theory of optimal control, the problem on the decision of customerrelationship management efforts is studied. A time-variant model on the policy of customerrelationship management efforts is set up and discussed. Then the optimal policy isobtained and it can be applied in the field of customer relationship management.5. Through evaluating the effectiveness of CRM, enterprise can find the effects ofimplementing CRM strategy driven by customer value. Because of CRM’s complexity,little research has been conducted in evaluating the effectiveness of CRM. Considering themerits of BSC, we propose a customer-driven evaluation model for evaluating theeffectiveness of CRM based on balanced scorecard. The model involves four perspectives:customer knowledge, customer interactive, customer value and relationship value. Then,the metrics of CRM effectiveness are given. At last, the model is illustrated in MarketingDepartment of Xuzhou Construction Machinery Group Co., Ltd to validate its feasibilityand validity.

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