CRM is about finding, getting and retaining customers. Its main thrust is to develop new products, render value creation, gain market leadership and spread risks and vulnerabilities besides facing competition. The strategic framework for CRM could clarify CRM functions fitted within the organization and optimize their use. Value creation process of CRM concentrates on creation and delivery of value to customers. For CRM to be truly effective an organization must decide what kind of customer information it is looking for and what it intends to do with the information. Data mining renders customer relationship profitable. E-CRM is the integration of the customer relationship with e-business application.
Customer Relationship Management (CRM) is at the core of any customer-focused business strategy and includes the people, processes, and technology questions associated with marketing, sales, and service.
Simply stated, CRM is about finding, getting, and retaining customers. The aim of these systems is to assist in building lasting customer relationshipsto turn customer satisfaction into customer loyalty.
Ever increasing customer power creates the need for customer-driven organization. The CRM concept is creating a strong customer supplier alliance and the pressure forging these alliances are stiff competition, emerging/new technologies, shorter product life cycles and quality revolution and just-in-time concept. |
