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Research On Customer Relationship Management Strategy Of F Sealing Components Company

Posted on:2023-08-14Degree:MasterType:Thesis
Country:ChinaCandidate:W LiuFull Text:PDF
GTID:2542307148465794Subject:Business management
Abstract/Summary:
As an important basic product in process industry,sealing component is widely used in the fields of energy and machinery industry.Due to the increasing energy demands,the Chinese market for sealing components is growing fast.In the extremely competitive sealing products market,more and more domestic seals manufacturers take obvious advantages in the ordinary sealing market,and gradually penetrate to highperformance sealing market.F company is a foreign-owned company running in China,as a branch company of a global industrial sealing group with long history and unique sealing technology,committed to provide static sealing products and sealing material to petrochemical,electric power and other industry.However,in recent years,its sales amount has been growing slowly with a drop in market share,and even lost some existing customer.This thesis tries to find out the solution to improving F company’s customer satisfaction and loyalty,achieving customer retention and maximizing the customer value from the perspective of customer relationship management(CRM).Firstly,this paper revealed the competitive situation through Porter’s Five Forces analysis to the industrial environment of F company,then analyzed the company’s overall operation & CRM status quo.Then,through interview surveys to internal personnel of the company,the author investigated and analyzed the existing problems of the company in customer relationship management aspect.It was found the main problems concerning CRM included: difficult new customer acquisition,low customer satisfaction and loss of existing customers.After analyzing causes to these problems by questionnaire survey method,we got the key factors affecting the performance of CRM.Finally,based on customer satisfaction and customer loyalty theory,IDIC model,this paper suggested a strategic framework to solve these problems.Differentiating customer by optimized customer needs analysis,promoting customer participation by two-way communication,enhancing customized sealing products and providing related service,could help the company improving CRM performance.
Keywords/Search Tags:Customer Relationship Management, Customer Loyalty, Sealing Components, IDIC Model, Customer Interact
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