Project on Crm
Project on Crm
Customer relationship management
Submitted to: Submitted by:
Mr. Anil Vashisht Deepika Bora
Manveer Singh
Rachna Yadav
ACKNOWLEDGEMENT
We express our immense gratitude to our Associate Professor Anil Vashisht who not only guided us throughout the project but also gave us an opportunity to be acquainted with the present scenario and enhance our practical knowledge. His motivation and constant mentoring has helped us in the completion of the project.
Mutual understanding and coordination amongst the group members is also highly appreciated.
Contents
Introduction of CRM
Introduction of ICICI Bank
Why CRM in ICICI Bank
CRM Solution
Importance of CRM
Benefits from CRM
Six frame-work model
Hexagon Model
IDIC Model
Results of implementing CRM
Competitive Advantage
Recommendations
Introduction of C.R.M
The term CRM stands for Customer Relationship Management. Customer relationship management (CRM) is a broadly recognized, widely-implemented strategy for managing and nurturing a companys interactions with customers, clients and sales prospects. It is a process or a methodology used to learn more about customers needs and behaviors in order to develop stronger relationships with them. CRM is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends. This process helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers.
It involves using technology to organize, automate, and synchronize business processes principally sales activities, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. When an implementation is effective, people, processes, and technology work in synergy to increase profitability, and reduce operational costs.
INTRODUCTION OF ICICI BANK
Profile
ICICI Bank is Indias second-largest bank with total assets of Rs. 3,634.00 billion (US$ 81 billion) at March 31, 2010 and profit after tax Rs. 40.25 billion (US$ 896 million) for the year ended March 31, 2010. ICICI Bank was originally promoted in 1994 by ICICI Limited, an Indian financial institution, and was its wholly-owned subsidiary. ICICIs shareholding in ICICI Bank was reduced to 46% through a public offering of shares in India in fiscal 1998, an equity offering in the form of ADRs listed on the NYSE in fiscal 2000. ICICI Bank is also the largest issuer of credit cards in India.
Business Focus
ICICI wants to leverage their people, technology, speed and financial capital to:
Be the banker of first choice for our customers by delivering high quality, world-class products and services.
Expand the frontiers of our business globally.
Play a proactive role in the full realization of Indias potential.
Maintain a healthy financial profile and diversify our earnings across businesses and geographies.