Customer Relationship Management (Crm)

In: Computers and Technology

Submitted By gsmtej
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CRM is that strategy which is designed to minimize cost and maximize profit by solidifying consumer's satisfaction, advocacy, and loyalty. (CRM Magazine, Feb 19, 2010). CRM brings out profiling prospects; acknowledge their needs, building relationships, and enhanced customer service. CRM gathers the consumer's information from sales area, customer support, cross selling and upselling opportunities.
CRM purposes and build customer loyalty to improve financial performance. CRM always implemented across multiple sales channels. The key components of CRM are customers, call center, marketing department, sales department, and customer support. (Turban & Volonino, 2011). The Basic idea of CRM is "treat different customers differently" according to their current or potential value to the enterprises. (Turban & Volonino, 2011, P.307).
The important factors of CRM are human, process, and technology (WCECS, 2010), but different people categorize in differently. CRM drive revenue growth, productivity and customer satisfaction though it has a lot of challenges to poor user acceptance. (Oracle, 2006).
References
Arab, F., Selamat, H., Ibrahim, S., & Zamani M. (October 20-22, 2010), A survey of success factors for CRM, Proceedings of the World Congress on Engineering and Computer Science,(Vol II), San Francisco, USA, Retrieved from http://www.iaeng.org/publication/WCECS2010/WCECS2010_pp1121-1125.pdf
CRM Magazine (Feb 19, 2010), What is CRM ? Retrieved from http://www.destinationcrm.com/Articles/CRM-News/Daily-News/What-Is-CRM-46033.aspx
Oracle (August, 2006), Ten critical success factors for CRM: lessons learned from successful implementations, Retrieved from http://www.oracle.com/us/products/applications/siebel/051291.pdf
Turban, E., Volonino, L.(2011). Enterprise information systems, Information Technology for Management Improving Strategic and Operational…...

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