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CRM technologies paper (Customer Relationship Management) - Essay Example

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Customer relationship management or CRM is one of the management strategies that connect the relationship between information technology and marketing. It is a term of information industry for software; methodologies as well as general internet capabilities which help the…
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CRM technologies paper (Customer Relationship Management)
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CRM technologies paper (Customer Relationship Management)

Internet and telephones are helping the organization to build a good relationship with the customers. CRM is a vital resource for the organization. The main goal for the organizations is to convert customer relation keen on higher profitability by growing rate of repeat purchase as well as dropping customer purchase costs. CRM helps the organization in understanding the customer expectations and behaviors. CRM also helps the organization to focus on profitable customers who can obtain long-term profit.
Digital transformation has fetched a huge and rapid reconfiguration and restructuring in present day business - the reformation of interaction, products as well as payments from the customers to the organizations and also from organizations to suppliers is generating much consternation and bafflement among the organizations decision makers. Managers in every organizational level are closely engaged in this turbulent period. They are being required to reconsider customary definition of competition, value and service.
Certainly a method for this great alteration has been a volatile development of internet. Moreover, the internet adaptation as well as the technologies adaptation has changed the path that many of the businesses developed in terms of strategies, competencies and models. E-Business is the process and strategy of meeting business drivers and also initiatives with the technology drivers as well as information services especially relating the internet. It plays a crucial role to the organization for profit maximization and sustain in this dynamic world. It is a technology driven. It essentially increases the value of the organization. Customers are the essential part of the organizational vision and strategy. So, it can be easily said that building a long term as well as loyal relationship is a key to the profitability for the organization. Furthermore, modern technology has made a good classification in ... Read More
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