Information technology has accelerated the evolutionary phase of customer relationship. Many CRM software and information systems are available today which can be used for capturing and storing potential customer data which help organizations in developing and maintaining customer relationship. This report is an attempt to provide comprehensive information on technologies used by the present day organizations for maintaining a healthy relationship with their potential customers. Supply chain has also supported organizations in improving their relationship building activities with their customers.
Customer Relationship Management (CRM) is a comprehensive approach adopted by organizations in order to create, maintain, and expand their customer base. It has become an essential part of every organization and seeks participation from all of the departments of that organization. It should be noted the process of customer base development of an organization is not dependent on any specific department. Instead it is a strategy which must be followed by all of the departments while developing their departmental plans. It is not solely related to the IT department of the organization neither it is an activity performed by the sales and marketing team (Anderson & Kerr, 2002).
Present day business situation has forced organizations to revamp their traditional approaches so as to meet their target revenue and sales volume. High level of competition has become an issue not only for international level organizations but also for the organizations operating in the national and domestic markets. Organizations are required to use smarter techniques for identifying and retaining their customers. This has also made it necessary for the present day organizations to analyze their offerings and identify their targeted customers. The latter is considered as the key to success as it increases the of the productivity and revenue generation of the