Importance of Customer Relationship Management

Paper Summary:

This paper discusses how managing effective relationships with customers has become increasingly important in the era of constrained resources and global competition. The paper explains how customer relationship management (CRM) encompasses all tools, strategies and other technology-based capabilities that help a business organize and manage its customer relationships. Specifically, the paper outlines the goals CRM attempts to achieve in organizations and emphasizes how CRM is essential for a business' long-term survival and success.

Outline:
Abstract
Introduction
CRM Discussion
How to Use CRM in Business
CRM and Business Strategy
Implementation Considerations & Recommendations
Conclusion

From the Paper:

"CRM is a technology utilized by organizations to shine the focus of the company on the customer through various strategies. With CRM, companies hope to create "lasting and meaningful relationships with the organization's most valuable customers or clients" (Hallenbeck, 2007). According to The Center for Customer Strategy, as referenced by Levit, consumers are looking for products and services that offer added value, as opposed to buying something based on small differences in prices. CRM has proven to be one of the most controversial topics, as well as one of the most rapidly expanding businesses, since the late 1990's (Foss, Stone, & Ekinci, 2008)."

Sample of Sources Used:

• (2002). What Is CRM?. Retrieved May 12, 2009, from http://www.destinationcrm.com/Articles/CRM-News/Daily-News/What-Is-CRM-46033.aspx.
• (2009). Business Strategy and CRM. Retrieved May 24, 2009, fromhttp://www.marketingteacher.com/IMAGES/crm_model.gif.
• Bhatnagar, Vishal and Ranjan, Jayanthi. Principles for successful a CRM in Organizations Direct Marketing: An International Journal Vol. 2 No. 4, 2009 pp. 239-247.
• Borges-Tiago, Teresa. Internet-Driven Customer Centric: An Exploratory Analysis. The Business Review, Cambridge Vol. 11 Num. 2 December 2008 pp. 82-90.
• Dimitratos, Pavlos; Plakoyiannaki, Emmanuella; Saren, Michael; and Tzokas, Nikolaos. How Critical is Employee Orientation for Customer Relationship Management? Insightsfrom a Case Study. Journal of Management Studies 45:2 March 2008 p. 268-293.

More papers on Importance of Customer Relationship Management:

• Term Paper # 147101 : "Importance of Customer Relations Management"
• Analytical Essay # 130557 : "Customer Relationship Management and Industry"
• Term Paper # 150304 : "Outsourcing and Customer Relationship Management"

APA Citation:

MLA Citation: