a) Define Customer Relationship Management (CRM) & its purpose? (2+3)
Customer Relationship Management
“The ability of an entire organization to effectively identify, acquires, foster and retain loyal profitable customers.”
Customer Relationship Management (CRM) boiling down to one simple concept: loyal, profitable customers. Loyal because we know that longtime customers tend to buy more and are easier, and subsequently more cost effective, to sell new products to than trying to acquire new customers
Profitable because this is what makes or breaks us as a business.
Purpose of CRM
The purpose of CRM is improved proximity to clients to respond to their needs and turn them into loyal customers. A CRM project therefore includes providing each sector of the company with access to the information system to get to know the client better and provide him with products and services which meet his expectations in the best possible way.
b) Elaborate your answer with the help of example? (5)
The organization and the customers both have sets of conditions to consider when building the relationship, such as wants and needs of both parties;
• organizations need to make a profit to survive and grow
• customers want good service, a quality product and an acceptable price
Mortgage brokers have a special type of business, a business that needs specific CRM software capabilities. One of the major parts of mortgage broking is client relationships. Not only does the client need to feel confident in your abilities as a broker, but it's also important for your business that the client enjoys the experience so that they will refer you future business.
c) Why CRM is different from traditional marketing? (5)
From the marketing perspective, traditional marketing builds category need, awareness of the product (through recall & recognition), a positive attitude (through developing knowledge of the product & liking it) and intention to buy (through consideration of the product and preferring it). Hopefully, a sale occurs at this point. Relationship marketing takes over after the sale for existing customers by stimulating the intention to buy and sometimes after the sale through post-purchase reinforcement. In other words, you should use traditional marketing to recruit new customers and relationship marketing to maintain the relationship with them once you brought them in.
Thursday, October 28, 2010
Wednesday, October 27, 2010
Mgt201 Assignment No. 1 Announced
SEMESTER “FALL 2010”
Financial Management (MGT201)
Assignment # 01 Marks: 15
“Time Value of Money”
ABC Corporation, a maker of electronics equipments, is considering selling the
rights to market its products to a well‐known advertising firm.
The proposed deal calls for annual year end payments of Rs.15,000 in years 1
through 7 and payments of Rs.30,000 and Rs.25,000 at the end of 8th and 9th year
respectively . A final payment of Rs. 10,000 would be due at the end of year 10.
1. If ABC Corporation applies a required rate of return of 12% to them, what is the
present value of this series of payments?
2. A second company has offered ABC Corporation a payment of Rs.30,000 now
and another final payment of Rs.80,000 at the end of year 3 for the rights to
market the products. Which offer should ABC Corporation accept?
(Show complete calculations and provide all formulas as they carry marks)
Important Tips
This Assignment can be best attempted from the knowledge acquired after
watching video lecture# 1 to lecture # 10 and reading handouts as well as
recommended text book.
Video lectures can be downloaded for free from www.OnlineVUlectures.blogspot.com
Schedule
Opening Date and Time October 27, 2010 At 12:01 A.M. (Mid-Night)
Closing Date and Time November 01, 2010 At 11:59 P.M. (Mid-Night)
Topic/Area for Discussion
Note: Only in the case of Assignment, 24 Hrs extra / grace period after the above
mentioned due date is usually available to overcome uploading difficulties which
may be faced by the students on last date. This extra time should only be used to
meet the emergencies and above mentioned due dates should always be treated
as final to avoid any inconvenience.
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:
• Make sure that you upload the solution file before the due date. No assignment will be
accepted through e‐mail once the solution has been uploaded by the instructor.
Formatting guidelines:
• Use the font style “Times New Roman” and font size “12”.
• It is advised to compose your document in MS‐Word 2003.
• Use black and blue font colors only.
Solution guidelines:
• Every student will work individually and has to write in the form of an analytical
assignment.
• Give the answer according to question, there will be negative marking for irrelevant
material.
• For acquiring the relevant knowledge, don’t rely only on handouts but watch the video
lectures and use other reference books also.
• Marks will be deducted if complete calculations and formulas are not provided.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0) if:
• It has been submitted after due date
• The file you have uploaded, does not open or is corrupt
• It is in any format other than .doc (MS. Word)
• It is cheated or copied from other students, internet, books, journals etc…
Financial Management (MGT201)
Assignment # 01 Marks: 15
“Time Value of Money”
ABC Corporation, a maker of electronics equipments, is considering selling the
rights to market its products to a well‐known advertising firm.
The proposed deal calls for annual year end payments of Rs.15,000 in years 1
through 7 and payments of Rs.30,000 and Rs.25,000 at the end of 8th and 9th year
respectively . A final payment of Rs. 10,000 would be due at the end of year 10.
1. If ABC Corporation applies a required rate of return of 12% to them, what is the
present value of this series of payments?
2. A second company has offered ABC Corporation a payment of Rs.30,000 now
and another final payment of Rs.80,000 at the end of year 3 for the rights to
market the products. Which offer should ABC Corporation accept?
(Show complete calculations and provide all formulas as they carry marks)
Important Tips
This Assignment can be best attempted from the knowledge acquired after
watching video lecture# 1 to lecture # 10 and reading handouts as well as
recommended text book.
Video lectures can be downloaded for free from www.OnlineVUlectures.blogspot.com
Schedule
Opening Date and Time October 27, 2010 At 12:01 A.M. (Mid-Night)
Closing Date and Time November 01, 2010 At 11:59 P.M. (Mid-Night)
Topic/Area for Discussion
Note: Only in the case of Assignment, 24 Hrs extra / grace period after the above
mentioned due date is usually available to overcome uploading difficulties which
may be faced by the students on last date. This extra time should only be used to
meet the emergencies and above mentioned due dates should always be treated
as final to avoid any inconvenience.
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:
• Make sure that you upload the solution file before the due date. No assignment will be
accepted through e‐mail once the solution has been uploaded by the instructor.
Formatting guidelines:
• Use the font style “Times New Roman” and font size “12”.
• It is advised to compose your document in MS‐Word 2003.
• Use black and blue font colors only.
Solution guidelines:
• Every student will work individually and has to write in the form of an analytical
assignment.
• Give the answer according to question, there will be negative marking for irrelevant
material.
• For acquiring the relevant knowledge, don’t rely only on handouts but watch the video
lectures and use other reference books also.
• Marks will be deducted if complete calculations and formulas are not provided.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0) if:
• It has been submitted after due date
• The file you have uploaded, does not open or is corrupt
• It is in any format other than .doc (MS. Word)
• It is cheated or copied from other students, internet, books, journals etc…
Mgt502 Assignment No. 1 Solution
Q.1: Write down all possible factors that could lead to job satisfaction or dissatisfaction of employees in an organization.
Answer:
Job satisfaction is in regard to one's feelings or state-of-mind regarding the nature of their work. Job satisfaction can be influenced by a variety of factors such as
a) Opportunity
Employee survey studies show that employees are more satisfied when they have challenging opportunities at work. This includes chances to participate in interesting projects, jobs with a satisfying degree of challenge, and opportunities for increased responsibility.
b) Stress
When negative stress is continuously high, job satisfaction is low. Jobs are more stressful if they interfere with employees' personal lives or are a continuing source of worry or concern.
c) Leadership
Data from employee satisfaction surveys has shown employees are more satisfied when their managers are good leaders. This includes motivating employees to do a good job, striving for excellence, or just taking action.
d) Work Standards
Employees are more satisfied when their entire workgroup takes pride in the quality of its work.
e) Fair Rewards
Employees are more satisfied when they feel they are rewarded fairly for the work they do. Consider employee responsibilities, the effort they have put forth, the work they have done well, and the demands of their jobs.
f) Adequate Authority
Employees are more satisfied when they have adequate freedom and authority to do their jobs.
Q.2: What methods should be adopted by Mr. Usman to express his dissatisfaction and concern to higher management?
There are mainly four ways through which Mr. Usman expresses his dissatisfaction:
1) Exit:
In this Mr. Usman should simply leave the organization and look some other organization for the carrier building. Using this method Mr. Usman should concerns the higher management
2) Voice:
It is nice way to solve the problem of his job satisfaction. He will go to the higher management and resolve the problem which has been created by his senior manager. In this manner the conditions should become better and he can improve his abilities by discussing the problems with their seniors.
3) Loyalty:
Through this method he waits for the conditions to improve by the passage of time. He can also criticize on the behavior of the supervisors and suggests the higher management the better solution.
4) Neglect:
Mr. Usman should completely neglect the negative behavior of his supervisor and which creates the condition worst.
Mgt602 Assignment No. 1 Solution
IDEA A:
I think ali should buy a company instead of initiating a new company because he does not have any experience of developing his own business and also he possesses a small amount of money and it is quite hard to initiate a business with small investment....
IDEA B...
As this business is concerned to the travelling and outing.... ali has experience of outing and travelling this is one of the biggest edge for him.... also this is the thing that made him convinced to do this business although he does not have any experience.....
another thing in this business is ....he can bring new trends and inovation to this business because he has a great experience and interest regarding this field
This is not a solution but a though that came to mind when i saw this question and according to me i think this can help us to give solution to this assignment.
.................
Semester “Fall 2010”
“Entrepreneurship (MGT602)”
Assignment No. 01 Marks: 15
Important Tips
1. This Assignment can be best attempted from the knowledge acquired after watching video lecture no. 1 to lecture no 10 and reading handouts as well as recommended text book.
2. Video lectures can be downloaded for free from www.youtube.com/vu.
Schedule
Opening Date and Time
October 27, 2010 At 12:01 A.M. (Mid-Night)
Due Date and Time
November 1, 2010 At 11:59 P.M. (Mid-Night)
Note: Only in the case of Assignment, 24 Hrs extra / grace periodafter the above mentioned due date is usually available to overcome uploading difficulties which may be faced by the students on last date. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:
• Make sure that you upload the solution file before the due date. Noassignment will be accepted through e-mail once the solution has beenuploaded by the instructor.
Formatting guidelines:
• Use the font style “Times New Roman” and font size “12”.
• It is advised to compose your document in MS-Word 2003.
• Use black and blue font colors only.
Solution guidelines:
• Every student will work individually and has to write in the form of ananalytical assignment.
• Give the answer according to question, there will be negative markingfor irrelevant material.
• For acquiring the relevant knowledge don’t rely only on handouts butwatch the video lectures and use other reference books also.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0) if:
• It has been submitted after due date
• The file you uploaded does not open or is corrupt
• It is in any format other than .doc (MS. Word)
• It is cheated or copied from other students, internet, books, journals etc…
Case
Ali had worked with his father in a successful building materials business. The family had sold the company, and the Ali received a portion of the sales price. After several months, Ali began thinking about starting or buying a company. One of his hobbies was backpacking; he had hiked the highest peaks in 30 of the 50 states. In his search for a new business, Ali heard of a company that made small trailers for motorcycles. These trailers were fairly popular with retirees who were cyclists and with individuals who liked to travel on motorcycles in order to go into the back-woods where a car could not go.
After several meetings, Ali and the current owner of the firm negotiated a selling price and the deal was consummated. Immediately after the purchase, Ali moved the business from its present location to his own town, several hundred miles away.
Glossary
Backpacking- hiking and camping, Backwoods- wasteland, Consummated- to conclude something
1. Why should Ali buy the company instead of starting his own firm? (7)
2. What are the pros and Cons for Ali’s buying of this particular business?(8)
I think ali should buy a company instead of initiating a new company because he does not have any experience of developing his own business and also he possesses a small amount of money and it is quite hard to initiate a business with small investment....
IDEA B...
As this business is concerned to the travelling and outing.... ali has experience of outing and travelling this is one of the biggest edge for him.... also this is the thing that made him convinced to do this business although he does not have any experience.....
another thing in this business is ....he can bring new trends and inovation to this business because he has a great experience and interest regarding this field
This is not a solution but a though that came to mind when i saw this question and according to me i think this can help us to give solution to this assignment.
.................
Semester “Fall 2010”
“Entrepreneurship (MGT602)”
Assignment No. 01 Marks: 15
Important Tips
1. This Assignment can be best attempted from the knowledge acquired after watching video lecture no. 1 to lecture no 10 and reading handouts as well as recommended text book.
2. Video lectures can be downloaded for free from www.youtube.com/vu.
Schedule
Opening Date and Time
October 27, 2010 At 12:01 A.M. (Mid-Night)
Due Date and Time
November 1, 2010 At 11:59 P.M. (Mid-Night)
Note: Only in the case of Assignment, 24 Hrs extra / grace periodafter the above mentioned due date is usually available to overcome uploading difficulties which may be faced by the students on last date. This extra time should only be used to meet the emergencies and above mentioned due dates should always be treated as final to avoid any inconvenience.
Important Instructions:
Please read the following instructions carefully before attempting the assignment solution.
Deadline:
• Make sure that you upload the solution file before the due date. Noassignment will be accepted through e-mail once the solution has beenuploaded by the instructor.
Formatting guidelines:
• Use the font style “Times New Roman” and font size “12”.
• It is advised to compose your document in MS-Word 2003.
• Use black and blue font colors only.
Solution guidelines:
• Every student will work individually and has to write in the form of ananalytical assignment.
• Give the answer according to question, there will be negative markingfor irrelevant material.
• For acquiring the relevant knowledge don’t rely only on handouts butwatch the video lectures and use other reference books also.
Rules for Marking
Please note that your assignment will not be graded or graded as Zero (0) if:
• It has been submitted after due date
• The file you uploaded does not open or is corrupt
• It is in any format other than .doc (MS. Word)
• It is cheated or copied from other students, internet, books, journals etc…
Case
Ali had worked with his father in a successful building materials business. The family had sold the company, and the Ali received a portion of the sales price. After several months, Ali began thinking about starting or buying a company. One of his hobbies was backpacking; he had hiked the highest peaks in 30 of the 50 states. In his search for a new business, Ali heard of a company that made small trailers for motorcycles. These trailers were fairly popular with retirees who were cyclists and with individuals who liked to travel on motorcycles in order to go into the back-woods where a car could not go.
After several meetings, Ali and the current owner of the firm negotiated a selling price and the deal was consummated. Immediately after the purchase, Ali moved the business from its present location to his own town, several hundred miles away.
Glossary
Backpacking- hiking and camping, Backwoods- wasteland, Consummated- to conclude something
1. Why should Ali buy the company instead of starting his own firm? (7)
2. What are the pros and Cons for Ali’s buying of this particular business?(8)
MKT501 Assignment # 1 - Solution
Solution:-
1. What Competitive advantage of your organization can attract foreign customers?]
Know Your Competitors
Get information the other business firms involved in the same business and prepare your strategy accordingly
Collect information about the targeted customers
Customer’s information collection is the basis of analysis, which requires the collection method is scientific, accurate information, as detailed as possible. The first step is to organize customer information, according to the customer’s industry, size, demand
characteristics and other customers will be divided into several groups. The second is to fill in a form by marketing staff, met to discuss the characteristics of other means to collect customer information, such as demand characteristics, organizational
characteristics and so on. The third step is for some still unclear, select a representative survey of customers, asking. Collection activities to note are: the understanding of the situation must be objective, not by imagined to guess, to be accurately recorded and complete.
Product Differentiation
Improve the product itself by adding features, improving reliability, etc. Branding: marketing to make the product appear different to consumers
Product Advantages
With a certain product or service capacity, product or service, although not particularly outstanding advantages, but also to meet customer needs and has a broad application of the market.
Promote sales
When you have equip your product with strong qualities keeping in mind the actual demand of customers go for promotional activities to sale the product internationally
2) How do you evaluate the demand of foreign customers and satisfy
them?
Find the best customer groups
Find the best customer groups and according to its demand characteristics, improve the product, change the focus, choose the best distribution channels and marketing opportunities; according to their organizational characteristics, different roles were
persuaded to take a different strategy.
The timing of customer consumption
Different products or services at different times, the customers to buy time and frequency are different, only to find out its characteristics, can grasp the marketing initiative. Need to analyze: the customer what products or services on our time to buy? How long to buy one? A type of consumption of large customers?
Location of customer consumption
Customers purchase and use of products or services have an appropriate place, usually
used to find out where customers buy our products? What can be the best selling place?
Where customers use our products? Whether our products can also be used to expand the space? Thus we can find the ideal sales channel and product applications.
How to Satisfy?
Provide product information to the customers
Help to identify potential problem before it occurs
Provide user friendly customer complaint registration
Have prompt complaint handling system
Provide fast back up service
Provide quick correcting service
Provide close mechanism on customer point of interaction
Keep environment clean neat and fair
1. What Competitive advantage of your organization can attract foreign customers?]
Know Your Competitors
Get information the other business firms involved in the same business and prepare your strategy accordingly
Collect information about the targeted customers
Customer’s information collection is the basis of analysis, which requires the collection method is scientific, accurate information, as detailed as possible. The first step is to organize customer information, according to the customer’s industry, size, demand
characteristics and other customers will be divided into several groups. The second is to fill in a form by marketing staff, met to discuss the characteristics of other means to collect customer information, such as demand characteristics, organizational
characteristics and so on. The third step is for some still unclear, select a representative survey of customers, asking. Collection activities to note are: the understanding of the situation must be objective, not by imagined to guess, to be accurately recorded and complete.
Product Differentiation
Improve the product itself by adding features, improving reliability, etc. Branding: marketing to make the product appear different to consumers
Product Advantages
With a certain product or service capacity, product or service, although not particularly outstanding advantages, but also to meet customer needs and has a broad application of the market.
Promote sales
When you have equip your product with strong qualities keeping in mind the actual demand of customers go for promotional activities to sale the product internationally
2) How do you evaluate the demand of foreign customers and satisfy
them?
Find the best customer groups
Find the best customer groups and according to its demand characteristics, improve the product, change the focus, choose the best distribution channels and marketing opportunities; according to their organizational characteristics, different roles were
persuaded to take a different strategy.
The timing of customer consumption
Different products or services at different times, the customers to buy time and frequency are different, only to find out its characteristics, can grasp the marketing initiative. Need to analyze: the customer what products or services on our time to buy? How long to buy one? A type of consumption of large customers?
Location of customer consumption
Customers purchase and use of products or services have an appropriate place, usually
used to find out where customers buy our products? What can be the best selling place?
Where customers use our products? Whether our products can also be used to expand the space? Thus we can find the ideal sales channel and product applications.
How to Satisfy?
Provide product information to the customers
Help to identify potential problem before it occurs
Provide user friendly customer complaint registration
Have prompt complaint handling system
Provide fast back up service
Provide quick correcting service
Provide close mechanism on customer point of interaction
Keep environment clean neat and fair
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