edf40wrjww2CF_PaperMaster:Desc
Title:
How does CRM Optimize Sales and Marketing Effectiveness in Travel and Tourism Industry?
The profitability in travel and tourism market is focused on capacity in peak and off-peak seasons, fixed costs and variable costs, and the pricing of a product; therefore, capacity utilization and the development of demand balancing are the solutions. For that reason, instead of selling products or services separately, companies bundle them into the combinations of products and services that are more valuable because they serve the customers from the customers' perspective. The key to optimize sales and marketing effectiveness is customer relationship management (CRM).
Sales and marketing optimization is about building trusted relationships. Purchases of complex products, such as holiday packages, will increasingly be made by groups of decision makers, not by individual purchasers. More and more research is done via the Internet. The customers are more informed about the products, services and competitor options than they ever have been before. As a result, organizational processes, technology, sales and marketing strategies such as customer knowledge competence strategy and customerization strategy, and as well as organizational structure and labor quality are crucial for the relationships building.
In the research report by Chu (2002), they have developed the CRM value cycle which provides an overall framework and approach for helping companies focus on the most important aspects of customer relationships. The value cycle has four key components: customer experience, customer insights, refined business actions, and strategic capabilities. To create strong, unique and continuously improved c ...