Customer Relationship Management - Essay Example

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Customer Relationship Management

The case of British Telcom will be used in order to prove the evidence of provided research and theory.
Beginning in the late 1980s, there has been a great deal of research on what exactly customer relationship management means and on what exactly a firm should be doing to implement such an orientation. Information technology offered firms a way to obtain, process, and use individual customer information so that firms would be able to personalize customer experiences. Some scholars have called it "market orientation." (Armstrong, Cowan, Vickers, 2005:195 )One set of researchers suggested that customer orientation is a subset of market orientation. Their definition for market orientation is "the set of cross-functional processes and activities directed at creating and satisfying customers through continuous needs-assessment." ( John, 2003: 11). Following their lead, market orientation has been treated as being composed of three components: customer orientation, competitor orientation, and interfunctional coordination.
Can the terms customer orientation and market orientation be used interchangeably If we accept the definition of a "market" (Ennew, Binks, 2003:220) as being a set of potential customers and treat the terms market and customer as ...Show more

Summary

Customer Relationship Management (CRM) is a group of methodologies, strategies, software, and web-based capabilities that created to assist enterprises in organizing and managing customer relationships. It is the collection and distribution of all data to all areas of the business and is highly important tool of mangement in contemporary competetive business environment…
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