Customer Relationship Management Essay

3014 Words Jun 29th, 2016 13 Pages
Customer Relationship Management
Sarina White
Ashja Thompson
DSIM 518: Competing through Innovation and Information Technology
Instructor: Vikas Agrawal
Spring 2016

Table of Contents

Abstract……………………………………………………….. Page 1
Introduction…………………………………………………… Page 2
Literature Review…………………………………………….. Page 3 – 4
History and Development of CRM………………………..... Page 4 – 5
CRM in Action………………………………………………... Page 6 – 7
CRM and Competitive Advantage…………………………. Page 7 – 9
Implementations Considerations and Recommendations. Page 9
Conclusion……………………………………………………. Page 10
References…………………………………………………… Page 11 – 13

Abstract
For our research paper, we’re going to focus on customer relationship management and how it plays a role
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Given the advancement of technology and the constant change in needs of the consumer, CRM is an extraordinary choice in keeping track of the organization’s consumer base and maintaining competitive advantage.

Introduction
Before one can explore customer relationship management, one must know what it is. By definition, customer relationship management is a term that “refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth.” (Rouse, November 2014). What better way to keep up with your customers and profits than by using a technology system designed for that exact purpose? What are the benefits of CRM? To name a few, CRM helps a company improve in a number of ways such as building relationships with the customer, reaching new customers and keeping regulars, and increasing the company’s profits while decreasing the costs. In order for this to take place the seller must always be willing to make important decisions, take action on those decisions, and implement changes that are needed. But how can you implement a change if you don’t know that the change is needed? That’s what this technology is for, to maintain and even further advance an organization’s competitive advantage through support and feedback. CRM depends quite

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