The problem addressed in this paper is the customer relationship management as a form of business strategy that integrates technology with customer service by focusing on maintaining association with the company’s existing and potential customers…
Download full paperFile format: .doc, available for editing
Extract of sample "Customer Relationship Management"
Download file to see previous pages
According to the research findings over the years many things have changed and now a great deal of emphasis is laid on the importance of customers to a company. Marketing tactics have evolved from mass marketing and advertising to target or niche marketing where preferences of each customer are given equal importance. In all this, customers have benefitted tremendously, now special attention is being given to their needs and according to that business strategies are designed. The customer making a purchase has two options, either he can make a direct purchase from the manufacturer itself – use one channel, or opt for multiple channels where he can buy the same product but here this product would have passed through several channels before reaching the intended customer. It has been observed that customers choosing multiple channels are more valuable to a company as compared to those opting for a single channel. This is because shopping is made a very convenient experience for them; they can buy products online from the web or even book their orders on the phone instead of making the trip to the store. In addition, in case they want to track the delivery of their products, this can be done easily either on phone or online by using the tracking code usually provided by the couriers. They are given many payment methods to choose from depending on whichever is the most feasible for them. They can make payment with cash on delivery, issue a cheque or even use their credit card. Hence, at each stage they are being facilitated and so the customer would remember the ease with which they shopped and would return repeatedly for the same service. Customers overall prefer systems which make processes simple, fast and reliable for them and multiple channels guarantee all of that with their expeditious service. Nordstrom is a famous US retailer with 225 stores located nationwide. Being in the business for more than a century, Nordstrom realizes the importance of its customers and knows how vital it is to provide customers with complete ease and best deals, hence, offering customers a comfortable buying experience with the use of its multiple channels network. In order to measure the effectiveness of customer relationship
...Download file to see next pagesRead More
nd it is important for an organization to have a customer relationship management system as it helps in managing the interaction between the firm and its clients whether it is sales or related to services the firm provides. The customer management system plays a crucial role in
The study is conducted to dig out and formulate a structural correlation between the importance of customer database and the improvement in Customer Relationship Management (CRM). For instance it will be discovered about numerous types of customer related data which will be required by the marketing personnel.
The discussion seeks to answer the question: How can a company use new technologies and IDIC task to build a Learning Relationship not possible before e-commerce? How should that chart be changed in order to facilitate customer management and to make sure people are evaluated, measured, and compensated for building the value of the customer base?
The paper tells that 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.
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 limited to only a single aspect of the business operations and companies are now adopting various changes that have seen them generally changing every aspect of their operations as opposed to changing only a single aspect of their operations.
The author of the paper states that there are many advantages of customer types. Customer types have a big role in profiling customers, personalizing offerings, building relationships and determining customer life-time value. Customer life-time value is an important database marketing technique.
Customer Relationship Management (CRM) is one such tool that integrates technologies and business processes to satisfy the needs of the customer. 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
The companies are now using the concept of Customer Relationship Management (CRM) and have their systems integrated with CRM softwares. But what actually is CRM. In simple terms, it is build a strong and everlasting relationship with
In addition, a business can position its entire brand as one which is focused on customer relationships, such as emphasising a company value which is congruent to consumer values. Regardless of the specific model used from organisation to organisation, CRM is all about satisfying the customer as a means to build profitability or achieve organisational performance.