Customer Relationship Management : A & M University Commerce

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Customer Relationship Management Courtney Crouthers Texas A&M University-Commerce Customer Relationship management is the strongest and the most efficient approach in maintaining and creating relationships with customers. It is an upright concept or strategy to solidify relations with customers and at the same time reducing cost and enhancing productivity and profitability in business. CRM is not only pure business but also ideate strong personal bonding within people. There are two types of CRM; traditional CRM and Electronic CRM. Traditional CRM is a selecting, maintaining and managing customers’ strategy in order to create the value in long-term while electronic CRM simply means accessing a customer relationship database…show more content…
In CRM systems, customers are often grouped according to different aspects. This can range from the type of business they do or their physical location. Customers are often allocated to different customer managers, also referred to as account managers. By doing this, the account managers are able to focus every customer separately and provide them with the customer service they need. A CRM system is not only used to deal with the existing customers but is also useful in acquiring new customers, which first starts with identifying a customer. Maintaining all the corresponding details into the CRM system is called an ‘Opportunity of Business’ and the sales and Field representatives can try to get business out of these customers by sophistically following up with them and converting them into a winning deal. All this is very easily and efficiently done by an integrated CRM system (Sarah Diffley & Patrick McCol, 2015). Scholars have questioned the effectiveness of several customer relationship management strategies. Customer relationship perceptions are considered evaluations of relationship strength and a supplier’s offerings, and customer share development is the change in customer share between two periods. The results show that affective commitment and loyalty programs that provide economic incentives positively affect both customer
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