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Knowledge Management Essay

713 Words3 Pages

CONCPT OF KNOWDEDGE MANAGEMENT AND ITS ROLE IN RELATIONSHIP MARKETING: KNOWLEDGE MANAGEMENT: The process of capturing and distributing of knowledge is known as knowledge management. According to literature of knowledge management, knowledge is mostly specified as explicit or tacit. The specification is simple though, the important thing is that it is confusing. The purpose of knowledge management is to make sure that the specific information is given to the correct person on correct time to make correct decision for the specific matter that would be the appropriate use of knowledge and the purpose knowledge management needs. GOAL: The goal of knowledge management is to improve the organizations decision making quality skills, by ensuring …show more content…

ROLE OF KNOWLEDGE MANAGEMENT IN RELATIONSHIP MARKETING: Customer relationship management and knowledge management were said to be completely different strategies, but with the passage of time it was proved that they have a similar goal which is to improve the organization. Recently the customer’s value has become obvious for the leading companies. So, every organization is trying to improve their relationship with their customers through customer relationship management. Relationship management is an aspect of customer relationship marketing which emphasizes on loyalty of the customers and customers with long term involvement instead of short term aims as customer acquiring and individual sales. The aim of relationship marketing is to create a bridge of understanding among the organization and customers which improves profitability, customer loyalty and research and development with increased sales and customer …show more content…

Likewise product development requires knowledge of consumer requirements recent scientific development in new technologies and

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