Question

Answer all questions:
1. From the perspective of quality, critically examine the components of a customer-relationship management process. Support your answer with suitable examples.

2. Critically explore the concept of failure modes and effects analysis (FMEA). What are the main areas where firms can apply it and what are its main benefits?

3. Quality management is important to make sure things are done the very best way possible. A finished product that is of superior quality is of utmost importance.
For a quality program to be successful, it must be ingrained into the culture of the organization Discuss.

4. Critically examine the necessity of a team for total quality to be achieved.

Answer 1

ans 1=A fundamental principle of marketing strategy is to create a competitive advantage. A competitive advantage gives the consumers a superior worth in comparison to other competitive offerings. Conventionally, banking has functioned in a comparatively stable environment for many years. A bank has to develop customer relations which dispense value beyond what is given by the core product. This incorporates added tangible & added intangible features to the core products, thereby developing & augmenting the ‘product surrounding’. The necessary prerequisite for the fulfilment of quality & the development of value added is measurement of quality & control. This is an essential function for ensuring the fulfilment of specified consumer requirements. The chief ways for constructing a powerful competitive position are via Customer Relationship Management, service/product quality & differentiation.