Question

Did you notice how important customer relationship management is to service-oriented organizations, including travel and tourism and retail? Why do you think CRM is so important to service-oriented organizations?

What are the keys to Marriott's success in customer retention, according to the video?

What touch points does Marriott have with the customer?

How would Marriott calculate share of wallet?

do you need video link ?!

Answer 1

Cusmoter relationship management is pivotal to organisations which are service- oriented. The customers will patronize the establishments only when they get proper service and they are attended properly. Customer relationship management creates loyalty and is a very positive approach to maintain relationships with customers. The customers will be more satisfied and that can help in promoting the business as they will be referring the hotel to their friends and family. The sales will be increased as the needs of the customers will be anticipated based on historic trends & the timing will be better.The consumer's requirements will be identified more efficiently and their needs can be met. It will help in outlining the customers which are more profitable to the organisation then the rest. It will be more easier to cross sell other products by suggesting enhancements or alternatives. There will be enhanced customer satisfaction & they will be willing to use our business more and will help in the growth of business reputation in the market. There will be increased efficiency with existing customers & will reduce total sale cost. The profits will increase when we focus on our most profitable customers & deal with our less profitable customers more efficiently.