Customer Relationship Management - Essay Example

Comments (1) Cite this document
Summary
Customer Relationship Management (Name) (Institution) (Course) (Tutor) (Date) 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…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER91.4% of users find it useful
Customer Relationship Management
Read TextPreview

Extract of sample "Customer Relationship Management"

Download file to see previous pages One of the key change agents that has in recent times been seen to have grown in critical importance for companies involves technology. Technology has played a major role in redefining nearly all aspects of business in the modern world (Bidgoli, 2010). It has been key in the facilitation of the gradual shift of power into the hands of the general consumer after moving it from the organization. The greatly empowered customers of the modern world are acutely aware of the immense power that they now wield. By utilizing the internet, customers are now able share information that helps bring them close to not only other customers but also to the organization. The shared feedback, information and various opinions are now generally available to one and all at a rate that can be viewed to be almost instantaneous. It is mainly due to this reason that it organizations cannot be able to ignore social media as a medium of communication (Flynn, 2012). Marketing managers have resulted to learn how to properly utilize this medium so as to be able to effectively manage the relationship that their companies and organizations happen to enjoy with their various customers, this is especially so in light of the fact that social media has proven to be both the bane as well as the boom to most organizations. Marketers are now using social networking to provide prompt customer redress. There is a lot of pressure being exerted on companies forcing them to constantly ensure that they are always on their guard due to the fact that customer reactions on the internet tend to generally happen on an instantaneous live basis. In the event that there happens to be any adverse feedback or shared opinion by a single individual dissatisfied customer, the opinion can quickly spread all over the internet and spearhead a campaign that can have the results of critically harming an organization or company. When used effectively, the internet can serve to help an organization to effectively build up its customer relationship as well as sufficiently strengthen the existing relationship (Kurtz and Boone, 2010). It can greatly serve to help companies in their attempts to reach out to single individual customer a situation which would otherwise have been deemed as being impossible. The Marketing Organizations have not only taken to communicating with their customers on an individual basis, but with the aid of various data mining techniques as well as the effective use of various technologies, they now better understand all their customer’s needs. This has been seen to greatly help customers in the development of customized solutions that have been specifically tailored to try and effectively address the various needs of a specific given individual customer. Companies and organizations such as Airlines, Insurance companies, Banks and various service industry players such as MacDonald’s and Pizza hut have been able to achieve these developments and have built emotional connections with their customers by implementing the use of technology and various CRM packages. The various dynamics that are involved in marketing have in ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Customer Relationship Management Essay Example | Topics and Well Written Essays - 3000 words”, n.d.)
Customer Relationship Management Essay Example | Topics and Well Written Essays - 3000 words. Retrieved from https://studentshare.org/management/1477992-customer-relationship-management
(Customer Relationship Management Essay Example | Topics and Well Written Essays - 3000 Words)
Customer Relationship Management Essay Example | Topics and Well Written Essays - 3000 Words. https://studentshare.org/management/1477992-customer-relationship-management.
“Customer Relationship Management Essay Example | Topics and Well Written Essays - 3000 Words”, n.d. https://studentshare.org/management/1477992-customer-relationship-management.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
ps
pstark added comment 3 months ago
Student rated this paper as
The topic of "Customer Relationship Management" was tough to find. I spent hours to find it. Here at StudentShare, I got the finest example. Many thanks!

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

...? 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

CRM - Customer Relationship management

...been able to expand its market across the world. This has been attributed to its effective customer relationship management strategies, which have made it possible for the business to retain its loyal customers and attract new clients towards its products and services. Apple Inc. takes the responsibility of putting up a store just for its products to eliminate the trouble of ill information of their products, which in turn has culminated an excellent move on their loyal customers. The store encourages PC and Mac users to explore and play with the company’s technology. The store space provides a quality service to Mac heads users where they can also hang...
1 Pages(250 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