Customer Relationship Management in Youi Company - Essay Example

This strategy involves division of the market base using diverse variables, which include age, education, culture, occupation, location and socio-economic status among others. Youi insurance stormed the Australian market and launched its products with the aim of reaching every segment of the customer base. The company personalized insurance and defined the risks more accurately. This strategy allowed Youi insurance company to reach the new but low risk customer segments, which were not previously targeted by other insurers (Carr, 14).

These segments included the white-collar commuters who commuted by public service transport to the city for work. Customized media approach was used to reach diverse groups accordingly. For instance, the company targeted the bus and train stations and quenched the traveler’s thirst during the summer mornings with customized bottles of water. Similarly, weekday and daytime TV media advertisements reached the customer segment in homes. This strategy reached and attracted numerous customers (Carr, 14).

A vigorously integrated information and technology system has reached the customer market. This has eased provision of insurance products and communicating with the customers more easily. This study establishes that, Youi uses its integrated information and technology system to transact. This implies that most of the customer requests are done online.According to this study, provision of personalized and cheap insurance retained the customer segments acquired.. Similarly, weekday and daytime TV media advertisements reached the customer segment in homes.

This strategy reached and attracted numerous customers (Carr, 14). A vigorously integrated information and technology system has reached the customer market. This has eased provision of insurance products and communicating with the customers more easily. This study establishes that, Youi uses its integrated information and technology system to transact. This implies that most of the customer requests are done online. Retention of the Acquired customer base According to this study, provision of personalized and cheap insurance retained the customer segments acquired through the campaigns and media advertisement (Carr, 14).

The Youi Company ensured that the customers understand the finer details of the insurance products provided. Correspondingly, the prices offered remained affordable. Notably, the Youi insurance has gone a notch higher in market orientation. This implies that, the company is focused upon the desires of the customers (Insurance in Australia, 6). The needs of the clients are addressed in a three-level of a product, which include the tangible product, core product and associated benefits and the augmented product (customer service).

This trend retained and expanded the customer market. The National Model Railroad Association (NMRA) NMRA is one of the oldest insurance companies in Australia with over 150 branches across the globe. NMRA enjoys a hearty customer relationship management (CRM) system. NMRA uses the aspect of information technology in reaching and retaining its customer base. The database interconnects all the branches across