Customer Relationship Management - Essay Example

Comments (0) Cite this document
The questions below will be addressed in the succeeding discussions: What the differences between privacy and data security? How these differences affect the responsible way companies use customer data? What are the ways in which treatment of customer data affect trust?…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.8% of users find it useful
Customer Relationship Management
Read TextPreview

Extract of sample "Customer Relationship Management"

Download file to see previous pages The paper tells that privacy refers to a state of personal information being kept free from unsanctioned intrusion. It is concerned with the handling and protection of personal information that is sensitive. Individuals often give such information in the course of everyday business. On the other hand, data security is a means of ensuring that personal data is kept safe from corruption and access suitably managed and controlled. The differences between privacy and data security are important in handling customer information. This is the reason many organizations have staff responsible for data security totally separated from those in charge of privacy. The differences will ensure that the company responsibly uses customer data to avoid legal suits related to misuse of customer information. It will also help in building customer trust. Building customer trust is vital for the company’s success. This is because it has the impact of building or breaking customer loyalty with the company. For this reason, customers prefer that their private information be kept secret, only being disclosed to authorized persons under their consent. It is, therefore, important that the company maintain both data privacy and security. Customers mainly trust those companies that they believe maintain a high degree of privacy and security of their information. However, companies that do not maintain security and privacy of customer’s data may not be able to ensure customers’ trust. This in most cases resulted in legal action by customers who feels aggrieved by leakage of their personal information...
Selladurai, (n.d) notes that companies that apply mass customization realized many positive outcomes. The advantages they attribute to the fact that mass customization increased their market share, customer satisfaction, expanded customer knowledge, and reduced their order response time. Others reported reduced manufacturing cost, which resulted in increased profits. Customers benefit from the fact that they are reasonably priced, and products are manufactured in accordance with their personal preferences and specifications. Disadvantages of Mass Customization Companies that practice mass customization reported a number of disadvantages. Most notable one is the fact that it increases the cost of production. This is due to the use of premium cost that the manufacturing system incurs for factoring in the flexibility of customization, and for sacrificing a certain degree of cost efficiency that is associated with standardization. Mass customization also lowers on time delivery to the customers. It lowers supplier delivery performance due to uncertainty in customer specification, which result in increased order response time. The method may also result in low product quality. On the customer’s point of view, mass customization result in increased lay over time. This makes the product take longer to reach them. Customers are also not given a chance to return a customized product in case they are unsatisfied with the quality (Selladurai, n.d). Types of Mass Customization Component Sharing Modularity Mass Customization In this case, component swapping modularity is used to customize products by reusing a functional module across a variety of products. It can be a single motor across the power tools or in case ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Customer Relationship Management Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from
(Customer Relationship Management Essay Example | Topics and Well Written Essays - 750 Words)
“Customer Relationship Management Essay Example | Topics and Well Written Essays - 750 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Customer Relationship Management

Customer Relationship Management

...? Relation Management relationship management is a business based strategy plan involving software, methodologies, and typically internet abilities that assist business handle customer relationships in a structured way. This aims to trim down costs and boost profitability by solidifying client loyalty. Customer relationship management may have a key impact on a business through: changing the attention from merchandise to client streamlining the offer to what the client requires, not what the business can make (Battle, 2008). This stresses the competencies required for a successful...
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

...Customer Relationship Management The twenty first century is often stated as the age of consumers. The aspect of globalisation has triggered a wave of competition as organizations are desperately reaching out to new markets to capture a share of the market. The increased competition has put the customer at the driver’s seat and it is the main focus of business strategists in different organizations. This has enhanced the importance of loyalty which is perhaps the reason why firms are increasingly resorting to induce better Customer Relationship Management policies so as to retain and manage...
4 Pages(1000 words)Essay

E-Customer Relationship Management

...E-Customer Relationship Management The Internet has evolved greatly since its inception and is no longer just a portal for electronic mail or an electronic source of information that had not existed in the public forum. It has become a tool that organizations are using to reach out to a larger target market that goes beyond the borders set out by masses of water. This has created a greater potential of increase in profits, and organizations are reaching out to cap it for their individual firms, therefore, creating an environment with healthy completion (Lee-Kelley, Gilbert, and Mannincom, 2003). The use of the Internet as a tool has led to a social phenomenon of e commerce where...
8 Pages(2000 words)Essay

Customer Relationship Management

...? Relationship Management A Review of the Evolution of Relationship Marketing and its Implications for Business Introduction to the Text What is the Importance of Relationship Marketing? In recent times, the general management of organizations and companies across the globe has in recent times been faced with a myriad of various challenges in light of the fast changing economies, and times. This has forced companies to try and evolve their operations and how they interact with their customers so as for these companies to be able to survive in this fast changing environment. The changes taking place in the various companies have not been...
12 Pages(3000 words)Essay

Customer Relationship Management

...? How hotels can use relationship management to enhance loyalty and retention: An empirical study of Chinese hotels Literature review Customer Relationship Management Customer relationship management has become a subject of interest to many scholars and business people. This management tool has been fronted as one of the most effective tools of achieving and enhancing sustainable growth and profitability. Most of the scholars have focused on the following issues regarding customer relationship management: definition of CRM; process of...
8 Pages(2000 words)Literature review

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

Customer Relationship Management

...1. Introduction 1 Background The present marketing environment in the face of increasing global competition poses challenges with the rapid entryof innovative products and maturity conditions in certain markets. Technology has pervaded every field in any business today. Customer Relationship Management (CRM) is one such tool that integrates technologies and business processes to satisfy the needs of the customer (Bose, 2002). CRM has been defined as an interactive process that achieves an optimum balance between corporate investments and the satisfaction of customer needs to generate the maximum profit (Gebert, Geib, Kolbe & Brenner, 2003). CRM involves...
12 Pages(3000 words)Essay

Customer Relationship Management Program

... Customer Relationship Management Program INTRODUCTION: In today’s competitive world, organizations have changed from being product focused to customer focused. Success or failure of any organization is directly dependent on the satisfaction level of the customers. Hence almost every organization is looking forward to implement Customer Relationship Management system. Implementation of the Customer Relationship Management system result in enabling the organization to provide ultimate experience to the customers at all touch points. CASE STUDY VERIZON: IMPLEMENTATION OF CUSTOMER RELATIONSHIP MANAGEMENT PROGRAM: In the provided case study, after the merger of two Fortune 25 companies namely GTE and Bell Atlantic, main issue... was the...
2 Pages(500 words)Case Study

Customer Relationship Management

...Customer Relationship ManagementCustomer relationship management, or CRM, can broadly be defined as a basic company-wide strategy that has been carefully drafted so as to help the company or organisation in being able to increase its profitability and reduce costs by firmly solidifying the customer loyalty that the organisation enjoys. It is for this reason that for CRM to be able to function effectively, it is of vital importance that relevant information and data from both outside and within the company is brought together and analysed so as to provide a holistic view of each of the organisation’s...
13 Pages(3250 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 Customer Relationship Management for FREE!

Contact Us