Publication Type : Journal Article
Publisher : International Journal on Emerging Technologies
Source : International Journal on Emerging Technologies, Volume 11, Issue 3, p.26-32 (2020)
Url : https://www.researchtrend.net/ijet/pdf/Customer%20Centric%20Prioritization%20using%20Multi%20Criteria%20Decision%20Making%20Method%20%20Mj2.pdf
Keywords : CRM, Customer Defection Rate., FAHP, Topsis
Campus : Coimbatore
School : School of Engineering
Department : Mechanical Engineering
Year : 2020
Abstract : Customer Relationship Management (CRM) is a new competitive way or approach for organizations that serve both internal and external customers. Organizations today focus on conquering the customers’ minds, by giving them the “WOW FACTOR” - customer satisfaction which makes them delighted. This work explores how CRM can be used to increase the effectiveness of the organizational interface towards customer satisfaction, loyalty, and decrease the customer defection rate. To study this, a manufacturing company has been selected as our objective company. An exponential increase in customer defection rate was identified as the major issue. From a series of surveys conducted along with the company and clients, it was found “Delayed Delivery” was the major reason for the increasing customer defection rate. To decrease customer defection rate, a mathematical model has been developed to rank the orders using Fuzzy Analytical Hierarchy Process (FAHP) which is then used to find weights of the criteria by constructing pair wise comparison matrix and Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) with four different methods of normalization. The same was implemented in the company and the results were evaluated and analyzed. After implementing the model, it was found that there has been a substantial increase in customer satisfaction rate of 37% compared to the previous month.
Cite this Research Publication : S. Sidhartha and M. Thennarasu, “Customer-Centric Prioritization using Multi-Criteria Decision Making Method ”, International Journal on Emerging Technologies, vol. 11, no. 3, pp. 26-32, 2020.