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…
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 ...
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Organizations have to compete in the global markets and in these markets, it is impossible to avoid transfer of goods without the use of protection laws among other different obstacles. With a wide variety of choices for customers, they become sensitive, increase their demand, and they begin seeking new and improved products.
However, with the growing numbers and size of business enterprises, large organizations must offer more than the best services and products to their customers in order to beat the competition (Greenberg 4). This paper will explain what customer relationship management (CRM) system is, its components and the values it adds to an organization.
Hence, a flexible business and marketing strategy is essential for every business houses (Pride and Ferrell, 2012). In the similar way, the business environment of UK is somewhat uncertain and as a result of that companies are required to formulate strategies in a manner that fits with the nature of the environment.
Corporations battling within a specific market for the bulk of market share look for ways to gain that competitive advantage over other companies.
What is competitive advantage Competitive advantage happens when a company maintains profits that surpass the average for the industry it belongs to (Competitive Advantage).
In addition, a business can position its entire brand as one which is focused on customer relationships, such as emphasising a company value which is congruent to consumer values. Regardless of the specific model used from organisation to organisation, CRM is all about satisfying the customer as a means to build profitability or achieve organisational performance.
ne communication with early stage prospective customers and on routing of new prospects for managing subsequent marketing and selling activities of a firm. Organizations have to compete in the global markets and in these markets, it is impossible to avoid transfer of goods
stomers, and it is limited to activities taking place in the customer facing functions such as marketing customer service, and sales among others (Kincaid 2003, p.42). In most cases, CRM software is used to control lead information, marketing campaigns and market participation,
Over the years, CRM has developed to become one of the most influential organizational concepts and customer relationship theories in the last fifty years, providing organisations with a way of managing their associations with customers for mutual benefit (Agariya and Singh, 2013).