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The better a business can manage the relationships it has with its customers the more successful it will become. Therefore IT systems that specifically address the problems of dealing with customers on a day-to-day basis are growing in popularity.
Customer relationship management (CRM) is not just the application of technology, but is a strategy to learn more about customers' needs and behaviours in order to develop stronger relationships with them. As such it is more of a business philosophy than a technical solution to assist in dealing with customers effectively and efficiently. Nevertheless, successful CRM relies on the use of technology.
This guide outlines the business benefits and the potential drawbacks of implementing CRM. It also offers help on the types of solution you could choose and how to implement them.
CRM aims at:
1. Evaluation of customer values
2. Finding scope for cross selling opportunities
It must answer
1- how to build loyality
2- how to deal with customer complaints
3- how to measure customer profitability
Business strategy is to connect with existing customers and attract more potential customers
And used by companies as a technology giant need for large sums of money as a way to connect with customers
TODAY AM FULLY AGREED WITH MR.KRISHNA,,, NOTHING TO ADD,,
CRM:
What is the return on investment in CRM?
Is every customer worth all the attention?
View this thesis to learn more about Customer Relationship Marketing.
Impact of customer relationship marketing in the luxury retail sector of Kuwait: A Thematic Analysis
Dear Raafat Sallam ,in the Marketing world there are two most important questions .
1) Product 2) Customer,because of if these two elements are not ,it means there is nothing for doing in Marketing world.
