Customer Relationship Management ( Crm )

‘Customer Relationship Management is the ultimate challenge for marketing experts in any business. A successful company will use customer information wisely to build relationships with their customers, on the level that together they will work together towards a long-term relationship.’ (Xu et al. 2002)

An effective Customer Relationship Management (CRM) program can be used to identify, retain, satisfy and obtain customers by using technology to optimize strategies for understanding customers’ needs to manage business interactions with current, former, and prospective customers. Additionally, CRM also enables companies to maximize internal, external, marketing and customer service operations to better address the needs of the customer building a better relationship with customers that a more profitable. (Ahmad & Buttle, 2001)

Today, customer relationship management is very important to the business world. Most of the companies established a department and the programs to manage their relationship with the customers. Customer relationship management (CRM) is a business strategy which designed to help a company to understand and look forward to the needs of its potential and current customers (Anderson & Stang, 2000). Customer data is being collected in several different areas of the company, stored in a central database, analyzed, and distributed to key points (Anderson & Stang, 2000).The business world once was “product-centric”, the companies just provided what they could produce. However, it is now become “customer-centric”, they provide products and service

Today, more and more companies find that cultivating customer loyalty is a key factor to achieve success. Customer relationship management (CRM) focuses on the relationship between customer and company. Due to this feature, many companies are trying to establish their own CRM system for helping them to connect new customers and boost old customers’ long-term loyalty. CRM systems include operations and analysis, and relationship marketing strategy and supporting, customer-centric business processes (Buttle 2004). With the development of information technology (IT), using CRM system

Salesforce was incorporated on February 3, 1999, and is a provider of enterprise cloud computing solutions, with a focus on customer relationship management software (CRM). The company provides six core cloud services that include salesforce automation, customer service & support, marking automation, community management, analytics and a cloud platform for building custom applications. The company delivers its solutions as a service through all internet browsers and on mobile devices, on a subscription B2B (Business to Business Ecommerce Model) basis, primarily through its direct sales efforts and indirectly through partners. Salesforce offers software as a service (SaaS), and multitenant architecture in which all users

As mentions above, Kumar et al. (2012) have provided a new definition of customer relationship management refers to the collection, storage and analysis of customer information, and the results into the practice of enterprise decision-making process. This also pertains to the automation, enhancement and integration of core business processes, such as production, operations, sales, marketing and finance. The power of customer relationship management in its adaptability to further business, and even the performance of the entire business of any individual activities, business, and even the performance of the entire business of any individual

As mentions above, Kumar et al. (2012) have provided a new definition of customer relationship management refers to the collection, storage and analysis of customer information, and the results into the practice of enterprise decision-making process. This also pertains to the automation, enhancement and integration of core business processes, such as production, operations, sales, marketing and finance. The power of customer relationship management in its adaptability to further business, and even the performance of the entire business of any individual activities, business, and even the performance of the entire business of any individual

In the past few decades Customer relationship was none existence with business organization making no effort to build relationships with its customers. But since then strong competition has forced business to form long lasting relationships with its customers, if it needs to stay in business. The term Customer Relationship Marketing first emerged during the 1990’s. It was made possible due to the advancement in IT and the flow of information. IT allowed business to store and retrieve Customer information so thus it lead to the definition information enabled relationship marketing ( Ryals & Payne, 2001). However CRM does have a wide definition but what is

Customer Relationship Management (CRM) describes the practices, strategies, and technologies many businesses use to manage and critique customer services through customer behavior. A CRM system helps a business relate more to a customer and implementing a functional system will not only increase profits, but our relationship with our customers will grow stronger. CRM systems are designed to store information on customers across a vast majority of channels or points of contact between the customer and the business. For Tru Lit to utilize a CRM system, there should be an interactive website, telephone number, online chat, e-mail, and multiple social media platforms that our customers can easily access

AN EFFECTIVE CUSTOMER RELATIONSHIP MANAGEMENT (CRM) STRATEGY SHOULD ENCOMPASS RANGE OF ACTIVITIES INCLUDING CUSTOMER CENTRIC SERVICES AND PRODUCT DESIGN, IT ALSO PLAN ON WORKING SOFTWARE CAPABLE OF TRACKING, AUTOMATING, ORGANIZING COMMUNICATION WITH CUSTOMERS. IN CRM SOFTWARE IS A CLASS OF PROGRAMMING THAT COVERS AN EXPANSIVE ARRANGEMENT OF APPLICATIONS AND SOFTWARE INTENDED TO HELP ORGANIZATIONS OVERSEE CUSTOMER INFORMATION AND CUSTOMER COOPERATION, ACCESS BUSINESS DATA, AUTOMATED SALES, MARKETING AND CLIENT SUPPORT FURTHERMORE OVERSEE WORKER, MERCHANT AND ACCOMPLICE CONNECTIONS. NORMALLY, CRM PROGRAMMING IS UTILIZED AS A PART OF THE UNDERTAKING, HOWEVER NUMEROUS ITEMS SCALE TO A BUSINESS OF ANY SIZE.

Customer Relationship Management (CRM) is a strategy for operating all your enterprise’s relationships and interactions with your clients and future clients. http://www.salesforce.com/uk/crm/what-is-crm.jsp

ERP systems bring together all aspects of operations and supply chain management, from raw materials to customer relationship management (CRM). Electronics retailer Best Buy found that the use of demand management tools increased price optimization, which in turn increased inventory turns by 50% (Blanchard, 2010). Other tools, like benchmarking, are also immensely valuable as automobile manufacturer Hyundai discovered. The company found that fill rate, the percentage of customer demand satisfied through immediate stock availability, is the number one driver of customer satisfaction. As a result, the company tries to keep dealers and customers happy with the expedient shipping parts from warehouse to dealer. Today, Hyundai’s fill rate of 96% is one of the highest in the auto industry (2010).

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From my perspective, I think it’s just amazing how companies like Target, targets its customers through an algorithm that provides them with information about each of us. A lot, of the information that they retrieve is based on our spending habits. Our spending habits along with their Customer Relationship Management System (CRM) a retailer can simply identify and targeting customer wants and needs in an entirely new way. It takes me back to buying power, how the buying power of the consumer, Consumer buying power refers to the capacity of an individual customer or a specific market to buy certain quantities of goods and services. Therefore, based on theories and algorithms obtained from consumer purchasing retailers are able to predict what type of goods, products and services to offer their customers. CRM is referred to as customer input, one-to-one solutions to customers ' requirements, direct online communications with customer and customer service centers that are intended to help customers solve their issues. For example, CRM is designed to be a marketing leverage tool that is personal or in other words, it should be a tool that attracts customers on a personal level.

Customer relationship management (CRM) is widely implemented and centralized system which offers a place for interaction under a company. An employee can handle again the repeated problem which occurred in the past by re-investigate it. Besides, CRM provides a place to identify what customers wants. Employees can track customer’s expectation by their feedback and communication that can improve their buying experience and stay interact with customer in order to understand their true needs.CRM also has ability to let the company see the customer interaction in clear picture. Different customers from different segments require different products and services, but this complex situation can handle well by CRM. Furthermore, CRM provides quality and efficiency system in the company management that helps company achieves their success by building long-term customer relationship.