Chapter 3: strategic crm v kumar and w reinartz – customer relationship management 2 overview topics discussed: case study: crm implementation at international business machines, inc (ibm) v kumar and w reinartz – customer relationship management 3 crm perspectives set of processes to execute marketing functions. A strategic framework for customer relationship management in this article, the authors develop a conceptual framework for customer relationship management (crm) that helps broaden the understanding of crm and its role in enhancing customer value and, as a result, shareholder value from the structuration perspective industrial. Customer relationship marketing management is moving to become an integral part of the marketing the main objective of this study is to investigate the impact of customer relationship marketing 1 to present a theoretical overview of customer relationship marketing and its main dimensions.
Customer relationship management concepts and cases dr alok kumar rai professor faculty of management studies banaras hindu university, varanasi india preface till recently, marketing has been understood as an advancement of sales that could add a little of marketing research, advertising and after. Superoffice is a customer relationship management software application supporting all your business processes, including sales, marketing, and customer service the superoffice blog is a plethora of information on customer service and customer relationships, including valuable tools, infographics, customer service hacks, insights on using your. The topics of interest include, but are not limited to, the following: emerging business models, customer welfare and marketing effectiveness in the digital age, marketing with new technologies, customer relationship in the dynamic marketing context, omnichannel shopping and marketing, marketing applications in virtual reality and augmented. While, business perspective of crm emphasizes that relationship marketing should be integrated with marketing mix (product, price, place and promotion) so that a valuable outcome is achieved ie customer satisfaction, loyalty and value creation (siems, 2010.
A critical analysis of customer relationship management from strategic perspective drsreenivasan jayashree senior lecturer faculty of management multimedia university cyberjaya, malaysia [email protected] marketing and customer service crm developed new. Customer relationship management (crm) is a continually evolving domain and now social media technologies have revolutionized the way businesses and consumers interact hence, the new dimension of social crm focuses on customer engagement domain, and now social media technologies have revolutionised the way businesses and consumers interact. Customer relationship management (crm), as well as brand management and service literature emphasize the importance of building and managing customer relationships, and offer useful models to understand how customer relationships develop. 1 abstract the association between customer satisfaction and customer loyalty is one of the most central relationships for marketing theory and practice.
Customer relationship management (crm) is basis on the idea that developing a relationship with customers is the most excellent way to find them to become loyal and that loyal customers are more profitable than non-loyal customers. Till 1999, gartner group first put forward the “customer relationship management” to a marketing concept, and then the crm has become a complete set of management theory system (zhang 2009)in general. A dynamic model of customer loyalty michele costabile71 are forcing firms to give top priority to customer relationship management marketing scholars were showing an increasing attention to relationship management and opportunity to approach the customer marketing with a relationship portfolio perspective 2 the literature on the. Crm: customer relationship management as coined by the gartner group, it compasses sales, marketing, customer service, and support applications while the crm term is fairly recent, it grew from a. Discuss the theoretical principles behind customer relationship management (crm) and its practical influence on marketing mix decisions use appropriate examples to illustrate your thoughts this is a preview of the 6-page document.
Relationship between disconfirmation and satisfaction 1 several studies in the marketing literature have offered some support for this theory 27 the contrast theory of customer satisfaction predicts customer reaction instead of reducing dissonance the consumer will magnify the difference between. Marketing communications is a management process used by an organization to create a relationship with its various audiences by understanding the audience’s communications environment, organizations seek to create and deliver. Marketing management plans, creates and brings the product to the consumer, develops demand strategy through product price, distribution channels and methods of promotion marketing researches product, market, consumer demand, and offers possibilities – these studies is a function of marketing.
The crm behaviour theory represents seven inter-related perspectives of customer relationship management (crm) relating to managing corporate customer relationships in service industries such as telecommunications. In many publications on service management and marketing, the customer is said to be an important resource of the service firm this is not surprising, since a basic characteristic of services is the participation of the customer in the production process however, up to now, there has been no theoretical discussion as to whether and why customers - as well as relationships with customers. Relationship, knowledge management, web enabled customer service, customer value, etc tekin (2013) argues that it, long-term relationship, higher pro þ tability and signi þ cant investment in technology are the main in ß uencing factors of crm. Brand management and customer relationship management motivation this stream of research focuses on understanding consumer choice and firm behavior and discovering its implications for marketing strategies.
Additional, in the relationship marketing literature can be also found several mid-range perspectives which suggest that a company should manage a portfolio of transactional and relational strategies depending on the customer-supplier relationship and the level of customer commitment and profitability for the company. The customer relationship management (crm) literature recognizes the long-run value of po- companies are increasingly focused on managing customer relationships, the customer asset, or customer equity customer relationship management (crm) explicitly recognizes the long-run crm vis-à-vis the domain of marketing marketing theory has. Index terms—customer relationship management (crm), crm processes, cross-functional processes, implementation, organization concerning the management of the customer relationship and these activities are grouped according to a these perspectives a customer-facing level crm processes according to reference  crm process at the.