Customer Relationship Management

Only available on StudyMode
  • Download(s) : 176
  • Published : March 26, 2012
Open Document
Text Preview
Literature Review:
Introduction:
I have chosen this topic because I believe that it is important for the service marketers to understand the power of customer relationship management (CRM), especially for delivering customized services and building loyalty. Being a marketing student encouraged me even more to study this topic while identifying the failures of CRM implementation in the services industry. Definition:

First and foremost, what is service marketing? By understanding the word service and marketing respectively, a service marketer should be able to deliver efficiently and know what they are supposed to do. “Services”, as proposed by Gronroos (2001), is intangible and easily duplicated. They can be divided into high-touch or high-tech services. High-touch services are mostly dependent on people in the service process producing the service, whereas high-tech services are predominantly based on the use of automated systems, information technology and other types of physical resources. “Services” are the application of specialized competences (knowledge and skills) through deeds, processes, and performances for the benefit of another entity or the entity itself as defined by Vargo and Lusch (2004). The word “exchange” is the foundational construct in marketing for several decades and has been used in defining “marketing” by Alderson (1957), Bagozzi (1975), Houston and Gassenheimer (1987), Hunt (1976) and Kotler and Levy (1969); “marketing” is to create exchanges that satisfy individual and organizational goals. Kotler (1984) defined “exchange” as the art of obtaining a desired product from someone by offering something in return. Now, what is the meaning of CRM? CRM can be understood as a revolving process during which companies interact with their customers, thereby generating, aggregating, and analyzing customer data, and employing the results for service and marketing activities [Seybold, 2001; Strauß & Schoder, 2002, p. 81 f.]. Dong and Zhu...
tracking img