Customer Relationship Management Definitions Of Customer...

2.1.1. Customer relationship management Definitions of customer relationship management Kumar and Reinartz (2012, p.4) defined CRM as a process companies analyse marketing database and leverage communication technologies to find practices and methods to maximise lifetime value of each customer to the firms. In this definition, the authors focus on customer value which is the economic value customers receive after they interact with the organisations. The most important part of a CRM strategy is to identify different types of customers and clarify them into separate groups, then develop specific strategies to interact with them. Buttle (2004, p.34) has different viewpoint about CRM. He defined CRM as a core business strategy which integrates internal processes and external networks to create and deliver value to customers. In this definition, Buttle emphasized that CRM was not a marketing process. It can be used in many marketing activities such as market segmentation, customer acquisition to make companies’ mission more customer-centric. Three levels of customer relationship management CRM has three levels: strategic, operational and analytical. Strategic CRM is about developing customer-centric business culture. Operational CRM focuses on the interaction between customers and businesses. Analytical CRM is about enhancing customer and company value through analysing customer data (Buttle, 2004). There are four behavioural dimensions that make up a successful CRMShow MoreRelatedQuestions On Customer Relationship Management1351 Words   |  6 Pages.2 Customer Relationship Management 2.2.1 Introduction Follow previous development of relationship marketing field consistently, CRM leverage relationship marketing by utilizing information technology, aim to discover how organization utilize integrated tactics to access to customer properly and pursue invulnerable relationship eventually in terms of customer loyalty. As the globalized environment shifting rapidly, modern savvy customers increase gradually; moreover, they have more opportunitiesRead MoreCustomer Relationship Management Is A Top Priority For Any Organization Essay1020 Words   |  5 Pages1. INTRODUCTION: Today, organizations are bearing in mind that their customers as most significant assets; therefore they are transferring their business strategies from product centric to customer-centric. Customer relationship management has become a top priority for any organization. CRM has gained thrust, and organizations all over the world are implementing it to improve customer services, satisfaction and retention. In the current competitive environment, characterize by financial challengesRead MoreCRM Ch01 Syd M71693 Words   |  7 Pages1 Shi Yong Dong çŸ ³Ã¦ ° ¸Ã¦  ± Assistant Professor, Ph.D. ï  ® Teaching and academic area Ã¥ ­ ¸Ã¨ ¡â€œÃ©  ËœÃ¥Å¸Å¸ --Customer Relationship Management (CRM) --Business policy and strategic management --Business Statistics --Marketing Research ï  ® Contact information è  ¯Ã§ ³ »Ã¦â€" ¹Ã¥ ¼  Office: A425 Tel: 8897-2041 Email: ydshi@must.edu.mo Mon./Wed. 14:30-16:30 (by appointment) 2 Shi Yong Dong çŸ ³Ã¦ ° ¸Ã¦  ± Assistant Professor, Ph.D. ï  ® How to download PPT ä ¸â€¹Ã¨ ¼â€°Ã¨ ª ²Ã¤ » ¶ --ftp://ftp.must.edu.mo/ --Username: ydshi_stu Password: 1234 3 Goal of First Class ï  ® ï  ®Read MoreCustomer Relationship Management As A Philosophy1253 Words   |  6 Pages1.1 Background Customer Relationship Management as a Philosophy started in the 70s. Peter Drucker, a well-renowned management consultant, stated that The true business of every company is to make and keep customers. Today, the concept of CRM has grown in a global scale. Companies have evolved to focus products solely based on customer’s demands. Over the years, the CRM model does not limit to just being about customer centric but also to use customer profitability as a catalyst in making decisionsRead MoreJohnson1704 Words   |  7 Pagesis the world largest manufacturer of health care products. The company have developed different types of the products such as baby shampoo and sterile dressings. Johnson Johnson have a long history about the management of its operating companies as independent businesses. The management party of the company comprehend and enhance the operating company autonomy to modify the flexibility, creativity and accountability. Johnson Johnson Company and the Inf ormation Tehnology managers have developedRead MoreRelationship Between Companies And Their Customers1485 Words   |  6 Pagestechnologies and the internet has greatly increased the opportunities and the possibilities for marketing and has changed the way of the relationship between companies and their customers are managed (Bauer,2002). The competition in the market has become more intense, an increasing number of services provider have adopted the techniques of customer’s relationship management (CRM) in order to strengthen their competitive position (Roh et al., 2005). The businesses that entering to compete in a market thatRead MoreRelationship Between Customer Satisfaction And Consumer Loyalty1520 Words   |  7 Pagesthe relationship between customer satisfaction and consumer loyalty and apply its relationship into all the market industries including products and services, particularly in financial institutions. Preliminary sample data (N=80) will be collected from f aculties and students at Johnson and Wales University of all ethnicities, national and international students. The hypothesis of the study is developed as H1: There is a significant positive relationship between customer loyalty and customer satisfactionRead MoreWhy Is Customer Relationship Management?1709 Words   |  7 PagesHow and why  is Customer Relationship Management (CRM) important to sports marketing managers? Introduction In the past two decades, huge marketing and mass marketing have been changed competitive landscape due to growing goods available for consumers. Proliferation of business activities would focus on customer relationship management, which is to achieve competitiveness (Chen et al., 2003). As the concept of customer relationship management has a significant change, there are a variety of CRM definitionsRead MoreCustomer Relationship Management ( Crm ) Practice1497 Words   |  6 Pages To find the most profitable customers in Customer Relationship Management (CRM) practice is an ongoing process where many companies fail to deliver the answer. This paper outlines various definitions of CRM, strategies, processes and the use of technology along with the various paradoxes that accompany Customer Relationship Management. Defining CRM is not straight-forward as there are numerous definitions, taking three recent definitions the basic framework of CRM is, an overall process of buildingRead MoreA Strategic Framework for Customer Relationship Management1494 Words   |  6 PagesFramework for Customer Relationship Management Introduction: This article explores the plethora of literature available on CRM and relationship marketing and emphasizes the need for a single, process-based framework that helps in making a comprehensive CRM strategy followed by its successful implementation. The objective is to highlight CRM’s role in enhancing customer value and