Customer Relationship Management Essay

4424 Words18 Pages
Customer Relationship Management A relative of mine works for a corporate firm on CRM (Customer Relationship Management) software. He told me that their company is doing well with their CRM initiative while most of the other companies, using different software, are not achieving their goal of customer satisfaction. That gave me a big click of interest towards my research topic and I came up with a research questions as “How to avoid CRM failure?” and how to choose a best CRM software vendor? Customer Relationship Management is an interactive process for achieving the optimum balance between corporate investments and the satisfaction of customer needs to generate the maximum profit. CRM refers to management of all…show more content…
Headquartered in Stamford, Connecticut, the company consists of 4,600 associates, including 1,400 research analysts and consultants, in more than 80 locations worldwide. Bad economic times have forced companies into a major spending retrenchment, compelling them to put projects without immediate and obvious returns on investments on the back burner; and though many companies have begun implementing CRM solutions, they are still losing customers in droves, begging the question of whether CRM implementations were worthwhile in the first place. These factors have driven some CRM vendors out of business while others are fighting to consolidate, leading to a moderate instability in the CRM market. None of the CRM initiatives are meeting the customer needs thus causing ''CRM Failure''. The basic management problem or dilemma for any organization is “How to avoid CRM Failure?” This raises research questions like “Which is the best software vendor to rely on?” and “What are the different issues concerned with failure in different software products?” Following are the problems faced by different corporate executives in the corporate world in implementing CRM and by going through these will give a decision making executive an idea of what every one is suggesting in the market. Current Market talk: What are the problems faced by others in the market? Mack Sorrells, president of the Mack W. Sorrells Company Inc., in Rock Wall, Texas, which
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