Week 3 seminar

In the last week lecture an interested seminar presented by Barry Schwartz, author of The Paradox of Choice discuss about the choice of the customer by giving the best examples. The main focus of the seminar is to convey the message to the industry that by producing a variety of goods will not fulfil the customer needs, along with the variety there should be quality and service which plays a major part for the customer satisfaction. As per the tendency of human nature it can be said that smaller the choice better will be the selection for the product. More option there are, the easier it is to regrate any thing at all the disappoint about the option that you choose. When there are lots of alternative it is easy to the amount of alternative you regret, that make it less satisfy than the one which you have chosen. Even though a person chooses the best from the available option, he/she will never get satisfy, because the expectation of the person will be different from the one they choose. For example buying jeans, in past jeans come in one flavour so there is no expectation, but now when there are many flavours there is more expectation. Human expectation is too high in today’s life; the secret of happiness is low expectation. When there is one style of jeans available you can blame the whole world because there is no other option, but when there are multiple options and person is not satisfied of the thing he/she had purchased than they are the only one who are blamed. Thus it can be said that higher the expectation, higher will be confusion for person.

Now a days as the expectations of the person increases the need for the CRM also increases because it helps in decreasing customer confusion. For example a customer want to buy a mobile phone there are many options and plan available, which makes customer confuse even though he/she is sure which mobile he wants to buy and for what plan, at this point of time CRM is helpful for taking the decision. If the product is not good or suitable for the customer, still CRM tries to convince the customer, it inturns result in to waste of time and money.

In conclusion, a good understanding of the role of CRM is critical in marketing the products to their customers, which is clearly depicted in the example of mobile phone. Thus, CRM is rubbish but it is helpful in increasing customer satisfaction.