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Hello Gromit
June 2013 Question 3 part b says Evaluate how CT could use a CRM system to acquire and retain customers
is the point below a valid point to retain customers in B2B scenario?
CT should use lock in strategies to increase switching costs for its customers. for example it should encourage them and offer them long term contracts and give them discounts for this so it can have those customers for longer term. CT might also include an early termination fee in the contract just to increase switching costs for customers.
will the above work?
They would do that, but I’m not sure that’s part of the CRM. CRM means you build a relatoinship with the customer based on great service rather than imposing early termination sees. It’s a carrot, not a stick.
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