The biggest management challenge in the new millennium of liberalization and globalization for a business is to serve and maintain good relationship with the king - the customer. In the past producers took their customers for granted, because at that time the customers were not demanding nor had alternative source of supply or suppliers. But today there is a radical transformation. The changing business environment is characterized by economic liberalization, increasing competition, high consumer choice, demanding customer, more emphasis on quality and value of purchase etc. All these changes have made today's producer shift from traditional marketing to modern marketing.
Customer relationship management pdf thesis writing
Popular Marketing Dissertation Topics For MBA Students [ Digital,Brand ]
Forget the all-nighters and find some writing inspiration with our free essay samples on any topic. It's time for you to nail your grades! Apple, Inc. Under this philosophy, Apple has managed to establish a humble line of products which have introduced entire new sectors to the industry and completely surpassed any existing solutions Isaacson, Given the astronomical success of the iPhone, iPad, Macintosh, iPod, and Apple TV hardware product lines, one can clearly observe that the Cupertino based consumer electronics organization has mastered the art of customer relationship management CRM. By definition, CRM includes the guidelines, practices, and principles that an organization follows during interactions with their base of consumers.
Today's customers buying decisions are not based simply on the quality of the product but with the relationship they have with the company. Banking industry has gone through many changes, privatization to nationalization and back to privatization with the international players on the one hand and on the other hand accepting deposits and giving advances to expanding services to wide variety of products. It is the responsibility of the organizations to provide what they need so that they can do their job properly. In today's world, we do business with individuals or groups with whom we may never meet and hence much less known in person to person sense. Customer Relationship Management is about creating the feel of comfort in this high tech environment.
CRM is an integrated effort to recognize, maintain, and build up a network with individual consumers and to constantly strengthen the network for mutual benefit of both sides, through interactive, individualized and value-added contacts over a period of time. Several research studies have shown not all customers are equally profitable. The company must therefore be selective and tailor its program and marketing efforts by segmenting and selecting appropriate customers for individual marketing programs. However, the objective of a company is not to really prune its customer base but to identify appropriate customer programs and methods that would be profitable and create value for the firm and the customer.