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Castle Bingo - Book Report/Review Example

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Customer Relationship Management (CRM) can be defined as an information industry expression which covers all the methodologies, software and internet capabilities which enable an organisation to manage its relationship with its members in an organised way. CRM is “ a process…
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Download file to see previous pages 32 cited Heczkova & Stoklasa, n.d.). It is an undisputed fact that CRM can benefit all organisations; both small and large. The traditional belief is that small businesses are more capable of understanding customer needs as there are more chances of face to face interaction. However, the whole scenario of CRM is presently inextricably linked to information technology. Presently, organisations use sophisticated CRM technology which enables them to analyse customers’ past behaviours so that they can better expect future trends.
As time passed, CRM gained more and more complexity. At present, the uses of CRM range from calculating average revenue from customers, calculating average order size, identifying profitable customers, offering individualised prices and services, analysing historical pricing and sales trends, and so on. In the opinion of Jakubikova (2008, p. 44) “the intention of customer relationship management is to build strategy of partnership which will help to cultivate relationship and increase its value”. As Dohnal (2002, p. 18) observes, customer relationship management has grown markedly and it includes various factors including company employees, company processes, and information technology (Heczkova & Stoklasa, n.d). Its main intention is to enhance customer loyalty which leads to better profitability. In simple words, CRM has become a necessary part of company culture.
For a business like Castle Bingo, CRM will help track what games are more selected by more customers and it will also help identify the potential customers. Moreover, the CRM system will be useful in identifying any regular customer leaving business and any new customer becoming regular. With this information in hand, it will be possible for the company to give more individualised offers so that future sales can be boosted. Moreover, it is useful in understanding what is the appropriate time to make a move to retain a customer who is otherwise likely to leave. Thus, ...Download file to see next pagesRead More
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