The paper "Customer Relationship Management Implementation" is a wonderful example of an assignment on marketing. The customer is king. This statement is no myth. By virtue of variety in their choices and more importantly their increased access to knowledge and information, customers are becoming more demanding with passing time. Considering the ever-growing competition it is becoming more prominent that enterprises need not treat a transaction per se rather should build genuine relationships in a way that would benefit the customers. Customer Relationship Management (CRM) endeavors are intended to meet the goal of customer outlook and expectations.
CRM helps in accomplishing maximum Customer lifetime value and hence higher returns to any organization over a period of time. Looking critically, it is evident that Relationship Marketing which is based on the societal concept of marketing has paved ways for CRM. This can be inferred from the definition by Light (2003, p. 5) who said that CRM is developed from business practices like relationship marketing and the enhanced prominence on prolonged customer retention by means of efficient administration of customer relationships. CRM can be viewed as a system that is interconnected with an enterprise-wide information system.
It includes all possible business processes which include direct or indirect contact with customers e. g. sales, marketing, and post-sale service. Levine (2000, p. 34) highlighted that the Customer Relationship Management system uses knowledge or information related to the organization’ s customers in order to deliver pertinent products or services to them. One of the most prominent explanations of CRM has been rendered by Davenport et al. (2001, p. 63-75). According to him, CRM can be defined as “ all the tools, technologies and procedures to manage, improve or facilitate sales, support and related interactions with customers, prospects, and business partners throughout the enterprise” . In the same league, Parvatiyar & Sheth (2002, p. 2) describes CRM as “ a comprehensive strategy and process of acquiring, retaining, and partnering with selective customers to create superior value for the company and the customer.
It involves the integration of marketing, sales, customer service, and the supply-chain functions of the organization to achieve greater efficiencies and effectiveness in delivering customer value. ” CRM engages a multifaceted amalgamation of many business and technological factors. This state of affairs calls for the planning and implementation of desired strategies for the espousal and execution of Customer Relationship Management within a company (Bull, 2003, p. 5). I would like to highlight an example related to CRM from the organization I last worked for.
My company use to get repeated orders but over a period of time. But to process them, the company needs to follow the complete procedure as if the client were new to my company. This was because every transaction was supposed to be closed once it was over.