Preview

Customer Relationship Management

Best Essays
Open Document
Open Document
2098 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Customer Relationship Management
Customer Relationship Management Challenges in E-business
Savita Verma1, Umang Soni2, Anirban Kundu3
Mechanical Engineering Department, Indian Institute of Technology Delhi Indian Institute of Technology Delhi, Hauz Khas, New Delhi-110016, India savita_verma1987@yahoo.co.in umangsoni.iitd@gmail.com anirban.kundu.iitd@gmail.com Abstract— This paper presents essence of Customer Relationship Management (CRM) and its emerging research from challenges in e-business perspective. The challenges associated with Strategic and Collaborative Relations are discussed and applications of different soft-computing techniques are identified as emerging area of research. This paper proposes Customer 's Customer Relationship Management (CCRM) and Customer Social Network Management (CSNM) as the new dimension of this particular research domain. Keywords— e-CRM, e-business, Customer Relationship Management, Customer Social Network Management, Supply Chain Management

challenges, and road blocks of the CRM research. The latest research in this area and the future road-map of the research is also presented in this paper to analyse the trend. II. REVIEW OF THE LITERATURE IN CRM The CRM approach has received increased attention as a marketing concept during the last decades, both amongst practitioners and in academia. It was found that the most common category of CRM articles belonged to the information technology and management information systems category. A review of most relevant literature on CRM is considered to identify current trends from the perspective of Strategic, Analytical, Operational and Collaborative decision making. The focus has changed from Analytical to Strategic CRM [7] and research scope is getting a breakthrough in terms of e-CRM due to its cohesion with e-business. Different levels of decision making of CRM are Strategic, Analytical, Operational and Collaborative. A literature review was conducted by Wahlberg et al. [7] to describe the CRM research field using



References: [1] D. Ryding, ―The impact of new technologies on customer satisfaction and business to business customer relationships: Evidence from the soft drinks industry‖, Journal of Retailing and Consumer Services, vol. 17, pp. 224–228, 2010. E.W.T. Ngai, "Customer relationship management research (19922002): An academic literature review and classification", Marketing Intelligence & Planning, vol. 23, iss: 6, pp.582 – 605, 2005. J. U. Becker, G. Greve and S. Albers,‖ The impact of technological and organizational implementation of CRM on customer acquisition, maintenance, and retention‖, International Journal of Research in Marketing, vol. 26, pp. 207-215, 2009. K. Paulissen, K. Mills, M. Brengman, J. Fjermestad and N. C. Jr. Romano, ―Voids in the Current CRM Literature: Academic Literature Review and Classification (2000-2005)‖, in Proc. the 40th Annual Hawaii International Convergence on System Sciences, 2007. N.C. Romano and J. Fjermestad, ―Electronic Commerce Customer Relationship Management: An Assessment of Research‖, International Journal of Electronic Commerce, vol. 2, pp. 61-113, 2002. N.C. Romano and J. Fjermestad, ―Electronic Commerce Customer Relationship Management: A Research Agenda‖, Information Technology and Management, vol. 4, pp. 233-258, 2002. O. Wahlberg, C. Strandberg, H. Sundberg and K.W. Sundberg, ―Trends, Topics and under-researched area in CRM Research‖, International Journal of Public Information Systems, vol. 3, pp. 191208, 2009. S.M. Noble and J. Phillips, ―Relationship hindrance: why would consumers not want a relationship with a retailer?‖ Journal of Retailing, vol. 80, pp. 289–303, 2004. W. Chang, J. E. Park and S. Chaiy,‖ How does CRM technology transform into organizational performance? A mediating role of marketing capability‖, Journal of Business Research, vol. 63, pp. 849– 855, 2010. [2] [3] [4] [5] [6] [7] [8] [9]

You May Also Find These Documents Helpful

  • Good Essays

    CRM at minitrex

    • 598 Words
    • 3 Pages

    Customer Relationship Management is a strategy to develop strong relationships with the customer and to know more about the customer needs. Stronger relationships with the customers will help in the development of the business. CRM helps in understanding the needs of the customers by gathering the information about the customers, and this helps to market and sell the company’s products. CRM makes the use of technology and human resources for the development of the business. By implementing CRM…

    • 598 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Customer relationship management or CRM is not just the application of technology, but is a strategy to learn more about customers' needs and behaviours in order to develop stronger relationships with them. It enables businesses to:…

    • 542 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    THE IMPORTANCE OF CRM

    • 1073 Words
    • 5 Pages

    In this modern era, many businesses are popping up in the market, as the result of competition to be in the forefront. If a business pretends to stay or resist to a change, at the end they will suffer lost. That’s why many of businesses struggle and trying to the new method of business in order to facilitate the business process, gain more profit, and the important is that maintaining relationship between them and customers since the customers is the most important and various way were made so that they remain to be the first. The loyal customers are the one of the main factor that will determine the existence of a business itself. One of the business strategy that usually used by the businesses is that CRM; an acronym from Customer Relation Management. CRM is a business strategy that will enable a business to manage and maintain their relationship with the customers in the database. How? By having the complete data and detail information about customers with the CRM software.…

    • 1073 Words
    • 5 Pages
    Better Essays
  • Powerful Essays

    CRM is an integrated information system that is used to plan, schedule and control the presales and post-sales activities in an organization. CRM embraces all aspects of dealing with prospects and customers, including the call centre, sales force, marketing, technical support and field service. The primary goal of CRM is to improve long-term growth and profitability through a better understanding of customer behaviour. CRM aims to provide more effective feedback and improved integration to better gauge the return on investment (ROI) in these areas.…

    • 3288 Words
    • 14 Pages
    Powerful Essays
  • Powerful Essays

    Ecrm in Online Banking

    • 4205 Words
    • 17 Pages

    CRM is a business model that aligns product and sales strategies with customer requirements and preferences. Services are then provided in a timely manner using the channels that are preferred by the customers. Effective CRM starts by focusing on the development of business strategies and by aligning an organization to serve customers. These business strategies are then executed using CRM technology solutions. The most successful business strategies are developed only after an organization learns about customers’ behavior patterns and attitudes. Behavior studies show what products or services have been purchased in the past and what products or services are currently being bought. Attitudes studies show what customers are thinking and feeling about future buying decisions. Uncovering customers’ behavior patterns and attitudes involves collecting relevant transactional and survey data, placing the data into a data repository, and then applying analytical techniques. After the information is collected from the data, an…

    • 4205 Words
    • 17 Pages
    Powerful Essays
  • Powerful Essays

    | * Lesson Learnt * 1st Editing & compiling * Cover page, table of content * Interview…

    • 2132 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    E-CRM

    • 578 Words
    • 2 Pages

    To manage customer relationships which acquire and retain customers, methods, strategies, software and other web-based capabilities can be used by an organization to improve its customers’ knowledge in term of products and services provided. It is called Electronic Customer Relationships Management (Chaffey, 2009). E-CRM can also improve its product value-added provided to their customers as it can satisfy customers’ sophisticated demand by capturing, integrating and distributing data gained by that organization at its Website (Shan and Jea, 2003). Because of e-CRM’s advantages created by its features, an organization can improve its sale’s revenue. For instance, Tesco.com from Britain, who is the most popular grocery retailer in Europe and Asia, reached the sale to £ 401 million in the first half of 2005 as well as to maintain its 31% increase in year-on-year (Chaffey, 2009). Thus, it is important to analyze Tesco’s strategic approaches which have helped Tesco.com achieve success online.…

    • 578 Words
    • 2 Pages
    Good Essays
  • Best Essays

    knowledge management

    • 3954 Words
    • 18 Pages

    analysis tool with data visualization for managers which significantly improves the process of customer segmentation. Presented research is supported by implementation of proposed approach by which experiments…

    • 3954 Words
    • 18 Pages
    Best Essays
  • Good Essays

    As organisations are transforming from product- or brand-centric marketing to a relational-centric approach, the importance of customer relationship management (CRM) is hardly questioned. Taking a broad view, CRM…

    • 10829 Words
    • 44 Pages
    Good Essays
  • Good Essays

    CRM is a core business strategy that integrates internal processes and functions, and external networks, to create and deliver value to targeted customers at a profit grounded on high-quality customer-related data and enabled by information technology (book)…

    • 3224 Words
    • 13 Pages
    Good Essays
  • Powerful Essays

    Zikmund, G William, Mcleod Raymond, Jr & Gilbert Faye W. Customer Relationship Management integrating Marketing Strategy and Information Technology, Wiley 2003. Chapter 1 & 5…

    • 1602 Words
    • 7 Pages
    Powerful Essays
  • Good Essays

    Banking Crm Research Paper

    • 3300 Words
    • 14 Pages

    Abstract : Customer relationship management systems are being widely across various sectors and have emerged as a popular business strategy in today's competitive environment in companies. It has been viewed as a process aimed at collecting customer data, find profiles of customers and use the customer knowledge in specific marketing activities. It is a discipline which enables the companies to identify and target their most profitable customers. CRM implementation is on way in many Indian banks. However such implementations are not without hiccups. This paper takes a look at the status of a CRM in major banks operating in Western Vidarbha District. CRM involves new and advance marketing strategies which not only retain the existing customers but also acquire new customers and also analyzes their efforts in terms of a strategic framework and points out some of the deviations that have occurred in the implementations. It has been invented as a unique technique capable of remarkable changes in total output of companies.…

    • 3300 Words
    • 14 Pages
    Good Essays
  • Powerful Essays

    Airline Industry

    • 9917 Words
    • 40 Pages

    Zikmund, W.G. McLEOD, R. and Gilbert, F.W., 2003. Customer Relationship Management: Integrating Marketing Strategy and Information Technology. New Jersey: John Wiley and Sons, Inc.…

    • 9917 Words
    • 40 Pages
    Powerful Essays
  • Powerful Essays

    These days customer satisfaction is becoming too important part of industry. It also help to generate revenue & loyal customers. Customer Relationships Management deals with issues related to customers like addressing their queries. Basically it’s the management of interaction between the business & the customer. With help of above mentioned points we can understand the importance of CRM. Please see below:…

    • 1624 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    Emirates Airline Swot

    • 4024 Words
    • 17 Pages

    Customer relationship management (CRM) is a widely-implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments…

    • 4024 Words
    • 17 Pages
    Powerful Essays