Benefits Of Customer Relationship Management - Essay Example

Comments (1) Cite this document
The writer of an essay "Benefits Of Customer Relationship Management" reports that CRM has developed to become one of the most influential organizational concepts and customer relationship theories in the last fifty years, providing organisations with a way of managing their associations with customers…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.3% of users find it useful
Benefits Of Customer Relationship Management
Read TextPreview

Extract of sample "Benefits Of Customer Relationship Management"

Download file to see previous pages Studies show that CRM was developed because consumer differed in their spending habits and preferences. If all consumers were alike, there would be less need for CRM. Consequently, understanding customer profitability and drivers can enable customers to better customize their offerings to optimize the general value of their client portfolio (Kaufmann, 2013). The attention that organizations are currently giving CRM is because today’s marketing environment is highly concentrated and more competitive. CRM is an enterprise-oriented concept covering all sections of a business (Baran and Galka, 2013). In addition, besides customer service, CRM would also encompass manufacturing, assembling, purchasing, product testing, sales and engineering, human resource, and marketing. CRM is a complex concept that mines customer information, which has been retrieved from all customer touch points, which then creates and supports the organizations to have a comprehensive perspective of the customer (Kaufmann, 2013). The result is that organizations can identify and determine the right category of customers and forecast the trend of their future purchases. CRM is also an all-embracing concept that smoothly incorporates field support operations, customer service, sales, and other processes that concern customers. CRM is a concept touching on how companies can retain their most profitable clients and simultaneously lower costs and increase values of engagement that then increases profitability (Baran and Galka, 2013).  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Benefits Of Customer Relationship Management Essay”, n.d.)
Benefits Of Customer Relationship Management Essay. Retrieved from
(Benefits Of Customer Relationship Management Essay)
Benefits Of Customer Relationship Management Essay.
“Benefits Of Customer Relationship Management Essay”, n.d.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
bhills added comment 23 days ago
Student rated this paper as
I didn’t know how to start my research paper. "Benefits Of Customer Relationship Management " helped me out a lot! Especially the list of resources was valuable.

CHECK THESE SAMPLES OF Benefits Of Customer Relationship Management

Customer Relationship Management

...capacity for development and advancement over time Customer relationship management is important to a business enterprise. It consists of a chronological view and breakdown of existing and possible customers. This assists in reduced comparing and searching customers, and to anticipate customer requirements effectively and boost business. It contains particulars of customers; thus, it is very simple to follow a client accordingly and can be useful in the determination of customer’s profitability. All the information in CRM system is centralized that is accessible anytime on fingertips. This decreases...
6 Pages(1500 words)Essay

Customer Relationship Management

...?Running head: Relationship Management Insert         Insert Grade Insert 7 March Relationship Management Introduction Customer relationship management (CRM) is a strategy used for managing a company’s relationship with its customers. As a result, effective customer service is necessary in this case. Attracting, nurturing, and retaining customers are the ultimate goal of customer relationship management. Therefore, an effective customer relationship...
6 Pages(1500 words)Essay

Customer Relationship Management

...the scope of CRM (Source: Buttle, p.299) CRM places the customer at the centre of the framework as all its intended policies are directed towards the development of customer relationship. Management of suppliers is essential considering the fact that they form the backbone of an organization’s business activities. Firms like Wal-Mart have effectively used ERP to bring about a better and efficient relationship with the suppliers so as to deliver greater value to the consumers. Toyota uses a effective CRM framework to manage its large number of suppliers which has helped in attaining efficiency which has reaped numerous operational...
4 Pages(1000 words)Essay

Customer Relationship Management (CRM) in the Hotel Industry

... Software. Available at [Accessed 17 September 2012]. Miller, M., 2012. The Right Strategies For 2013 – Part II. Available at [Accessed 17 September 2012]. Roberts, L., 2004. The History of CRM -- Moving Beyond the Customer Database. Available at Customer-Database&id=6975> [Accessed 17 September 2012]. Rossell, C., 2011. Discover Benefits of Customer Relationship Management. Available at Benefits-of-Customer-Relationship-Management&id=6324920> [Accessed 17 September 2012]. Ueno, S., 2006. The Impact of Customer Relationship Management. Available at [Accessed 17 September 2012].... RELATIONSHIP MANAGEMENT (CRM) IN THE HOTEL INDUSTRY Answer A: Hotel industry all over the world has evolved since 1990s until now in terms of consumers and marketplace. However, the importance of...
6 Pages(1500 words)Case Study

Customer Relationship Management

.... : John Wiley & Sons. Brink, A. and Berndt, A. (2004). Customer relationship management & customer service. Landsdowne, South Africa : Juta, 2004. Doret, M. (2007. Pride-Ferrell Foundations of Marketing. Cengage Learning. Flynn, N., (2012). The social media handbook : rules, policies, and best practices to successfully manage your organization's social media presence, posts, and potential. Hoboken : John Wiley & Sons. Hennig-Tharau, T., Gwinner, P. K, and Gremler D. D., (2002). Understanding Relationship Marketing Outcomes: An Integration of Relational Benefits and Relationship Quality. Journal of...
12 Pages(3000 words)Essay

Customer Relationship Management (CRM)

...or group customers into clusters. Members of clusters share common characteristics which may be concluded as leaning towards a support, need or want of specific products. This way companies may determine the approaches they need to apply for specific customer groups or clusters. Aside from the actual selling techniques of companies, marketing strategies propel organizations to higher profits and bigger market share. According to the American Marketing Association, "Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in...
13 Pages(3250 words)Essay

Problems and benefits of implementing Customer Relationship Management (CRM) in relation to BT (British Telecom)

...Problems and benefits of implementing Relationship Management (CRM) in relation to BT (British Telecom) Relationship Management (CRM) is a group of methodologies, strategies, software, and web-based capabilities that created to assist enterprises in organizing and managing customer relationships. It is the collection and distribution of all data to all areas of the business and is highly important tool of mangement in contemporary competetive business environment. The general purpose of CRM is to enable organizations to better manage their customers through the...
10 Pages(2500 words)Essay

Customer Relationship Management objectives and invest inadequately in the provision of CRM software. At the same time, not all organizations are facing failure. Based on these findings, this report will discuss and analyze the role of a Customer Relationship Manager in a company. 2. Relationship Marketing To build good relationships with customers, it is necessary to serve each customer in his preferred way. This requires management of customer knowledge, which can result in high-quality relationships. Relationship marketing can be defined as an integrated effort to...
12 Pages(3000 words)Essay

Discuss the treatment of women in Kate chopins The Story of an hour and The Awakening

4 Pages(1000 words)Research Paper

Selling smarter with CRM by Dawson Chris

...that includes organizational management, sales and marketing teams, product generation departments and the customers. Organizations apply customer relationship management towards different benefits. One of such benefits is the establishment of a strong relationship between an organization and its customers through developing an understanding of the customers’ needs towards meeting the needs. Other benefits include managements of sales processes, improvement of sales strategies and evaluation of fundamental data including social data that...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Benefits Of Customer Relationship Management for FREE!

Contact Us