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Customer Relationship Management (CRM)

993 Words4 Pages

Customer Relationship Management (CRM) is an enterprise approach to understanding and influencing customer behavior through meaningful communication in order to improve customer acquisition, customer loyalty and customer profitability. The aim of the study is to understand customer relations in the selected industries and also to identify and summarize the benefits in the selected industries.
Key words
CRM, Benefits, Acquisition, Loyalty, Profitability etc
Definition of CRM
CRM is defined as the overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
The 1990s have been a dynamic period within the information systems field. One of the most exciting uses of new technologies …show more content…

Better and informed decisions can be taken helping in effective cross-selling and up-selling of products. Provide streamlined sales and marketing processes. Provide sales personnel with opportunities to close deals faster through quicker responses to customer leads. Customer history can be easily retrieved at the time of interaction which leads to improved call center services. By tracking and profiling existing customers, organizations can easily identify and target potential customers. Reporting tools help in analyzing customer requirements, measuring performance and forecasting trends. CRM implementation ensures greater transparency in operations. Every transaction and interaction with a customer is stored in a customer …show more content…

Data Sources
Primary Data
Marketing managers and technical associates were chosen to get their views and opinions on performance and benefits of CRM. Some of them are interviewed to get their opinions and inputs to what extent the CRM strategies influence the company in which they are working at present.
Secondary Data
Information about the customer relationship management, performance and benefits of CRM is gathered from various books, magazines, journals and websites.
Choice of Organizations
In the current study manufacturing and service sectors are selected. The data was collected from Visakhapatnam, Hyderabad and Bengaluru based companies in South India according to researcher’s convenience and familiarity with the organizations.

Sampling
The questionnaire was pre-tested using a sample of 306 respondents. It was revised and validated. The samples were selected by using quota sampling technique among the target sectors. Within the sectors convenience sampling method was used.
Profile of

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