Someone's mother has four sons. North, South, East. What is the name of the fourth son.
A typo worth $225 million
Entering incorrect data in the wrong field is a fairly common mistake that office employees make relatively often. However, if you trade stocks and bonds, a simple typo can lead to serious problems.
An employee of the Japanese company Mizuho Securities Co. He accidentally changed the numbers when selling one share for 610 thousand yen. His mistake led to the fact that 610 thousand shares were sold at 1 yen for each. The transaction could not be canceled, and the company lost $225 million.
Forty years ago, American Airlines faced a financial crisis, and marketers were looking for ways to increase the company's profits. They offered customers a lifetime subscription for an unlimited number of first class flights. This subscription cost $ 250,000.
Case
The name of the case: Improving the CRM strategy for the retailer
Purpose: To help students apply knowledge about CRM strategies, analyze the situation and suggest improvements for a retailer.
Scenario (essence): You, yes all of you (students) represent a team of CRM consultants who are invited by the retailer "Mega Store" to evaluate and improve their CRM strategy. "Mega Store has faced a recent decline in sales and wants to optimize customer interaction in order to increase revenue.
Tasks of the case
Analysis of the current situation: Students should analyze the current CRM strategy of the "Mega Store".
Identification of problems: Students should identify the main problems in the current CRM strategy of the "Megastore“.
Improvement planning: Students need to develop an improvement plan for a CRM strategy. They need to identify which changes and innovations can help increase sales and improve the customer experience. The plan should include recommendations on processes, technologies and staff training.
Presentation (or just some pages with your analyze and ideas) and discussion: Each group of students should prepare a presentation of their improvement plan and present it to the class.
Marks
You will mark by these next criteria:
The quality of the analysis of the current CRM strategy.
Identification of key issues.
Creativity and realism of the proposed improvements.
The quality of the presentation and the ability to answer questions.
Current strategy of Mega Store
The Mega Store company focuses on creating deep and lasting relationships with customers through their entire customer life. The goal is to provide customers with an excellent experience, regardless of where they are on their journey with the company.
Mega Store uses customer purchase data to send personalized discounts and recommendations via email and SMS. If a customer often buys household goods, he may be offered promotions and new arrivals in this category. This allows you to increase sales and customer satisfaction.
This strategy implies a deep understanding and consideration of the needs of each client, which ultimately contributes to the growth of sales and customer loyalty.
