Digital Technology and Customer Relationship

Masters
Essay
Business
Pages 10 (2510 words)
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Businesses have always valued their customers, but today there is much greater appreciation of the importance of customers for the profitability of the enterprise. In new business model, E-commerce generated massive amounts of data about customers and prospects that could not be integrated with the data in compartmentalized information systems…

Introduction

C.Laudon and P.Laudon (2006) believed that well-designed CRM systems can improve sales and customer service. Thompson and Cats-Baril argued, "Customer relationship management systems typically offer software and online tools for sales, customer service and marketing." (Thompson, 2003, 121-130)
CRM systems provide sales prospect and contact information, product information, product configuration, and sales quote generation capabilities. In B&N Company, CRM software enables customer and prospect information to be shared easily among sales, marketing, and delivery department. It can increase sales department's efficiency in reducing the cost per sale as well as the cost of acquiring new customers and retaining old ones. (Harrington, 1991) CRM software also has capabilities for sales forecasting, territory management. Customer service modules in CRM systems offer tools and information to create call centres, help desk service, and customer support personnel more proficient. CRM systems have capabilities for assigning and managing customer service requests.
In the early 1990s, the idea of 500 TV channels had been embraced by the nation's leading media, computing, and telecommunications conglomerates. ...
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