Customer Relationship Management ( Crm )

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Part I Theoretical Study Chapter 2 : CRM study 2.1 Defining CRM Customer relationship management (CRM) is an approach that company’s use to manage, analyze and interact with customers. It refers to the practices, strategies and the technologies used by companies to understand the customer’s needs and behavior in order to create and build relationships with customers and to follow them throughout the customer lifecycle with a focus on increasing & retaining customers with driving the sales growth. The idea of a CRM system is to help organizations use technology and employees to gain knowledge on customers. An important aspect is in communications, ie by listening to the customer needs, opinions, demands, services, support with an aim for business to collaborate closely with its market. With improvements in technology, modes of communications and marketing strategies, customers are flooded with lot of information. With various channels introduced and invested in: direct mail & email campaign, conventions, call centers dedicated and designed to the needs of its market versus the agendas of the companies behind it. So companies have an obligation and a need to constantly interact with customers to keep them educated about products & services, engaged with company catalogs, promotion materials, advertisements etc. Second aspect is technology, companies are leverage technology to build & manage the relationship with customers. With technologies focusing on customer management
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