ADM 2372 Chapter Notes - Chapter 9: Customer Relationship Management, Sales Force Management System, Sales Process Engineering
9 Apr 2016
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Document Summary
Customer relationship management (crm) involves managing all aspects of a customer"s relationship with an organization to increase customer loyalty and retention, and an organization"s profitability. In an age when product differentiation is difficult, crm is one of the most valuable assets a company can acquire. Crm allows an organization to gain insights into customers" shopping and buying behaviours. Understanding the fundamentals of crm include: crm as a business strategy, business benefits from crm, the evolution of crm, operational and analytical crm. The evolution of crm: there are three phases in the evolution of crm. Crm reporting systems help organizations identify their customers across other applications. Crm analysis systems help organizations segment their customers into categories such as best and worst customers. Crm predicting systems help organizations make predictions regarding customer behaviour, such as which customers are at risk of leaving. List generators compile computer data from a variety of sources and segment the data for different marketing campaigns.
