Importance of CRM during recession

In today’s market scenario, it won’t be wrong to say that ‘customers are the king.’ Customers control the markets today and therefore the companies are focusing on enhancing customer satisfaction by every possible means. The complete marketing mix is customized according to the target customers. Read more »

Importance of CRM for customer satisfaction

Customer Relationship Management (CRM) is a concept that was introduced in the field of marketing during mid 1980s. The term ‘Customer Relationship Management’ was introduced by Berry in 1983. The primary reason behind the emergence of CRM was the losing relevance of other marketing strategies. Read more »

What is relationship marketing?

First surfacing in the 1980’s; relationship marketing as a concept gained popularity in the 1990’s with more and more number of organisations adopting the term. Read more »

Customer Relationship Management in Financial Services

Today, many financial institutions like banks, asset management agencies, insurance companies, etc. are turning to CRM to reap the same benefits as most other organization:  maintain data bases of potential customers and make every effort to win their confidence, retain them and increase life-time value. Read more »

Customer Relationship Management in Standard First Bank, Korea

SCFBK is a bank that learnt that data bases could be put to competitive use. In September 2008, announced an alliance with Teredata Warehousing, a leading provider of enterprise data warehousing for a marketing automation software portfolio and comprehensive analytics for customer relationship management (CRM). Read more »

The communication process

Communication is an essence of human life. Briefly communication can be defined as, “the act of transmitting and receiving information” (Barker, 2010, p.1). To understand the term better, it is important to know the origin of the term communication. Read more »

Understanding complainers and their complains

Variety of negative emotions can occur following a service failure, including such feelings as anger, discontent, disappointment, self pity and anxiety. Read more »

Benefits of relationship management

Both parties benefit i.e., customer / firm from customer retention. It is not only in the best interest of the organization to build and maintain a loyal customer base, but customers themselves also benefit from long-term associations. Read more »

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