Customer Relationship Management Essay

754 words - 4 pages

Well talking about Customer Relationship Management (CRM), it can be define as a set of technology-enabled business processes that enable us to create more consistent and profitable interactions with our customers which is also known as relationship marketing. But first we must be aware of satisfying customers. Customer satisfaction is a business philosophy which tends to the creation of value for customers, anticipating and managing their expectations, and demonstrating ability and responsibility to satisfy their needs. Qualities of service and customer satisfaction are critical factors for the success of any business. As Valdani (2009) points out; enterprises exist because they have a ...view middle of the document...

As a relatively new practice, the definition of customer relationship management has been debated by field experts and is ever evolving. In fact, the term has come to mean different things to different individuals and organizations. In its inception, customer relationship management was narrowly defined as promotional marketing based on a customer database (Bickert, 1992). Peppers and Rogers define CRM to be a complex process that builds one-to-one relationships with customers in order to achieve long term growth (1993). According to Gronroos, relationship marketing extends past persuading customers to buy products; it is about fulfilling their expectations in the hope of transforming them into long term, loyal customers (2009). Most experts can agree, however, that the central theme of CRM is carefully selecting the most valuable customers and maintaining and strengthening relationships with those customers for long term profit maximization. It is a mutually beneficial relationship built upon a foundation of trust and loyalty through marketing, customer service, and relationship programs which are just three of the functions that operate within the CRM framework, simultaneously drawing information from the customer database to facilitate interactions and also feeding new details gleaned from the contact back into the system - whether this is feedback, buying behavior, etc.
Most companies engage in some form of customer relationship management. When a company...

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