CRM Strategies That Telecom Companies in India Could Make Use Of In the Coming Decade

by

ACKNOWLEDGEMENT

I would take this opportunity to thank my research supervisor, family and friends for their support and guidance without which this research would not have been possible.

DECLARATION

I [type your full first names and surname here], declare that the contents of this dissertation/thesis represent my own unaided work, and that the dissertation/thesis has not previously been submitted for academic examination towards any qualification. Furthermore, it represents my own opinions and not necessarily those of the University.

Signed __________________ Date _________________

ABSTRACT

In this study, the researcher tries to explore the concept of Customer Relationship Management (CRM) in a holistic context. The main focus of the research is on CRM and its Strategies in Telecommunication Companies in India. The research also analyzes many aspects of CRM and tries to gauge its effect on Indian Telecommunication Companies. Besides that the research describes the marketing strategies for Telecommunication companies in India. Chapter 3 describes the research methodology, followed by Statistical analysis in Chapter 4. Finally, the research concludes with recommendation for future research.

Table of Contents

ACKNOWLEDGEMENTII

DECLARATIONIII

ABSTRACTIV

CHAPTER 1: INTRODUCTION1

Background of the Study1

Problem Statement3

Purpose of the Study3

Aims and Objectives3

Research Questions4

Ethical Concerns4

Reliability and Validity5

CHAPTER 2: LITERATURE REVIEW7

Theoretical Framework7

Customer Relationship Management8

Purpose of CRM10

Phases of CRM11

Moderating Role of the CRM Process11

CRM in Telecommunication Companies12

Development of CRM in Telecommunication Companies14

Managing Relation with Customers15

Customer Retention16

Role of IT in Customer Retention17

Customer Retention and Business Performance Improvement17

CRM Factors in Telecommunication Companies18

CHAPTER 3: METHODOLOGY20

Research Philosophy20

Research Design21

Literature Search21

Research Approach22

Analyzing Data22

Confidentiality23

Significance24

Appraisal Limitations24

CHAPTER 4: DISCUSSION AND FINDINGS26

Indian Telecommunication Industry26

Significance of CRM in Indian Telecommunication Companies27

India's Telecom Revolution29

Competitive Advantage: Key to Success29

Current Scenario in Indian Telecommunication Industry30

CRM Strategies for Telecommunication Companies in India31

Focus on Customer Satisfaction33

Reducing Switch cost34

Improving Firm-Customer Interaction34

Customer Segmentation35

Personalize Customer Relationships35

CRM: A Tool to counter Competition among Telecom Companies35

Marketing in Indian Telecommunication Sector36

Macro-Environment Variables37

External Analysis37

1.Economic Environment37

2.Demographic Environment38

3.Environmental Environment39

4.Technological Environment39

5.Legal and political environment40

Marketing Strategies for Telecommunication Companies in India41

1.Cost Leadership41

2.Differentiation of Products41

3.Cost Focus42

4.Differentiation Focus42

CHAPTER 5: CONCLUSION AND RECOMMENDATION43

REFERENCES48

CHAPTER 1: INTRODUCTION

Background of the Study

Up till the early 1980s "customers are seen as average statistic, passive buyers with a predetermined role of consumption. Market research and inquiries had very limited or no interaction with customers. It was the only method of communication in the old economy. As the business competition gets tougher in the 1990s, Kotler admitted the economy has shifted into a customer economy where companies became customer focused because customers are now more knowledgeable and in short supply (Petrazzini, 2001, 4). Customer Relation Management (CRM) systems were set up to manage valuable information about customers so that Customer Lifetime Value and Customer Retention can be enhanced. Customer Relationship Management (CRM) developed in 1990s. CRM has its source in the heart of the business challenges of companies. Convinced that competitive advantage was no longer the product, many companies seeking new sources of differentiation can offer new growth drivers. This was the beginning of loyalty programs, bonus points by credit card. Previously, customers were simply buying the company, and little has been done to build a relationship to get ...