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ELC 310

ELC 310. Day 24. Agenda. Sixth Student Case Logistics.com A & B by Steve E-mail presentations at least 15 min before class so I may upload to web server Case studies are tied to proceeding chapters, make sure you discuss the connection

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ELC 310

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  1. ELC 310 Day 24

  2. Agenda • Sixth Student Case • Logistics.com A & Bby Steve • E-mail presentations at least 15 min before class so I may upload to web server • Case studies are tied to proceeding chapters, make sure you discuss the connection • Discussion/lecture Build a Trusting Relationship with Customer

  3. Case study Grading rubric (corrected) • Grade Generation for analysis • Demonstrated Mastery of Case Study 35% • Understanding of How Case Study Fits 35% • Presentation effectiveness 10% • Quality of PowerPoint 10% • Ability to Engage the Class in Discussion 10% • 2nd round of grades will be posted Dec 12

  4. Today Logistics.com A & B (Steve) Build a Trusting Relationship with Customers Dec 9 Course evaluations Travelocity (Randy) The Future of Digital Marketing Dec 12 Citibank Online (Emlyn) Take Home Quiz #4 Assigned Dec 17 @ 1 PM Take Home Quiz #4 Due Written Case Study & Presentations Due Rest of Schedule ® Tony Gauvin, UMFK , 2007

  5. Overview • Introduction • Trust is a process • CRM • Cross selling • Constant Innovation

  6. Introduction Understanding customer needs and behavior Formulate a strategy to fill needs Implement effectively and efficiently Build trusting relationship with customers • Theory T • Trust is inherent • Theory P • Relationship is adversarial

  7. Trust is a Process • Trust comes from fulfillment of a a promise • Does not require perfection • Requires honesty • Two phases in company/customer relationship • Building Trust while acquiring customers • Set expectations • Show evidence that expectations were meet for previous customers • 3rd party endorsements • Building trust after acquiring customers • Follow through on expectation set in customer acquisitions phase • Direct experiences • Web plays role in both phases

  8. CRM • Goal is to create loyal, profitable customers • Strategy that provides a company with a complete view of its customer base • Technology drives the strategy • Key outcomes • Increased profitability • Friendly interactions with customers • Increased communication • Greater market responsiveness

  9. Cross Sell and Grow Relationship • Cross Sell • The sale of additional products and services to a customer • Once a trusting relationship is built with a customer you have an opportunity to offer other products to the customer • Leverage the trust • Better customer <> product matching

  10. Constant Innovation • CRM requires constant innovation • Customer needs are changing • Help customer move in directions the customer wished to go • Examples • GE • First Tech CU

  11. GE Aircraft Engines • GE Aircraft Engines before • $11.4 Billion of $126 billion • 1996 Services was $1 billion • 2001  $5 billion • Sell engines at LOW prices • Sell 30 year of parts at high price • Now  reduce TCO • Material by the hour • Power by the hour • At the customer, for the customer

  12. First Tech CU • Credit Union History • Initially a German idea (1864, Raiffeisenbank) • Made popular in North America by French Canadian Alphonse Desjardins From Québec (Caisse populaire de Lévis on 1901) • CU’s in US spread into New England by French Canadian immigrants • CU are inherently trusted due to organizational structure (owned by the depositors) • First Tech is a CU created by Microsoft , Intel and other high tech company employees • Uses on-line advisors

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