Customer Relationship Management

INTRODUCTION

 

• A long term relationship with customers t market.

• Customer‘s expectations not only limited to get best are productsnowand services, they also need a face-to-face business in which they want to receive exactly what they demand and in a quick time.

• CRM is a business strategy directed to understand, anticipate and respond to the needs of an enterprise's current and potential customers in order to grow the relationship value.

• The Customer Relationship Management is the procedure that is crucial for every business.

MEANING

 

• Customer Relationship Management is an upright concept or strategy to solidify relations with customers and at the same time reducing cost and enhancing productivity and profitability in business.

 

• A CRM system is implemented for small business, as well as large enterprises also as the main goal is to assist the customers efficiently.

 

• The Customer Relationship Management is the procedure that is crucial for every business. As the customer is the most important part of the business.

 

DEFINITION

 

• Parvatiyar and sheth (2001) defined CRM is a comprehensive strategy and process of acquiring, retaining and partnering with selective customers to create superior value for the company and the customer.

 

• According to Gartner‖ CRM is a businessitability, s revenue, and customer satisfaction‖.

 

 

• A CRM system is not only used to deal with the existing customers but is also useful in acquiring new customers. The process first starts with identifying a customer and maintaining all the corresponding details into the CRM system which is also called an ‗Opportunity of Business‘. The Sales and F out of these customers by sophistically following up with them and converting them into a winning deal.

 

• Customer Relationship Management strategies have given a new outlook to all the suppliers and customers to keep the business going under an estimable relationship by fulfilling mutual needs of buying and selling.