There are several ways a company can attract and retain customers to their business. This can be defined as Customer Relationship Management (CRM) that proclaims a corporate business strategy creates and maintains long-term relationship with its customers by providing a reliable system, process and procedures. The main object of CRM within a company is to attract new customers, create customer loyalty, while maintaining a positive business image. (Schneider & Valacich, 2012)
Customer Relationship Management
To remain competitive in any market a company must keep their customers satisfied. In today’s market, the customer ultimately holds the balance of power; if the consumer is not satisfied with the service or product they received they will simply take their business elsewhere because there are so many alternative places ready and available. Keeping and maintaining a steady, long-term relationship with customers can be easily done if the company follows the correct procedures. CRM is more than just purchasing and installing softwares such as Microsoft or Oracle. Management must carefully select a CRM strategy that will be compatible with their business requirements and processing. Successful CRM strategies will result in positive customer satisfaction as well as increase the productivity, sales, and service. If all requirements are met, it will greatly enhance the company’s profitability. (Schneider & Valacich, 2012)
To develop a successful CRM strategy, organizations must look at other factors such as policy/business processes, customer service, employee training, as well as data analysis, collection, and sharing changes. It is very crucial for a firm to focus and organize its enterprises to provide the greatest customer satisfaction possible. (Schneider & Valacich, 2012)
Starbucks and Green Mountain Coffee have several similar features on their websites. Both companies have products-coffee, teas,...