Customer Relationship Management (CRM)

Paper Summary:

This paper looks at how shifts in consumer behavior are frequently perceived to be inexplicable to marketers, who scratch their collective heads and wonder what can be done to improve or even salvage existing market share. It attempts to identify what part brand loyalty plays in an effective customer relations management strategy and to determine what businesses can do to maximize this feature in maintaining existing and achieving additional market share through their existing or improved customer relationship management (CRM) strategies.

From the Paper:

"During the late 1980's it was observed that many consumer products firms have followed the strategy of producing multiple brands which compete in the same product category. This strategy is perhaps best exemplified by the brand management philosophy of package goods firms such as Procter & Gamble, widely regarded as the pioneer of this strategy (Schiller 1988). The underlying rationale with this approach was that it is better for a consumer to choose between several of a company's own products than to choose between those of other firms. The multi-brand strategy demonstrates that multinational corporations often conceal the manufacturers of their products or the name of their core brand while entering the market with multi brands or sub-brands."

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