Crm-Old Wine in a New Bottle

customer RELATIONSHIP MANAGEMENT AN OLD WINE IN ANEW BOTTLE INTRODUCTION: guest relationship is non a new concept; companies have been interacting and dealing with customers since the stock of trade. Earlier more focus and attention was on harvest-tide and services instead of customer centric. With increase in rivalry because of globalization and usage of internet changed the picture of strain. Customers have renewing to choose from, more knowledge astir(predicate) the companies and products surely has title power at customers side. With this scenario, companies realize the need of treating customers with utmost care. Therefore, inquisitive for innovative ways to manage relationships effectively, not only to see new customers but also to maintain the existing one. CUSTOMER RELATIONSHIP MANAGEMENT: CRM is the process of managing detailed information about individual customers and carefully managing all the customer touch points with an force back of maximum customer loyalty Acquiring new customers offer cost five times more than costs bear on in satisfying and retaining current customers.

More companies are recognizing the wideness of satisfying and retaining customers, which constitute the companys relationship capital To retain the customers better approach is to deliver high customer satisfaction. Customer relationship management is about taking a pertinacious term approach to building relationships with customers. In olden days, business people and formations would know their customer base from seeing them on a daily basis and learning their preference found on the relationship they shared with the customers. CRM is emerged as critical for organization in 1960s where marketers found that 4ps of marketing framework-product, price, limit and promotion were less valuable without ongoing relationships with customers. Companies started putting customers in the middle of marketing program. In early days of CRM, at that place was no... If you want to get a full essay, order it on our website: Orderessay

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