ADM 2372 Chapter Notes - Chapter 9: Personalization, Data Warehouse, Supplier Relationship Management
18 Apr 2016
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Document Summary
Customer relationship management: involves managing all aspects of a customer"s relationship with an organization to increase customer loyalty and retention, and an organization"s profitability. Crm is one of the most valuable assets a company can acquire. Crm allows organizations to gain insights into customers" shopping and buying behaviors. Crm systems track every communication between customer and the organization and provides access to crm data across different organizations. Fundamentals of crm: crm as a business strategy, business benefits of crm, evolution of crm, operational and analytical crm. Crm is a strategy that an organization must embrace on an enterprise level. Crm is a business philosophy based on the premise that organizations that understand the needs of individual customers are best positioned to achieve sustainable competitive advantage in the future. Benefits of a crm strategy: better customer service, improved call centre efficiency, ability to cross-sell products, simplification of marketing and sales processes.
