Perceived benefits of CRM in selected Industries

Abstract

Customer Relationship Management (CRM) is an enterprise approach to understand and influence customer behavior through meaningful communication in order to improve customer acquisition, customer loyalty and customer profitability. CRM can be viewed as an approach to accomplish upper hand. In addition, CRM is tied in with recognizing an organization s best customers and augmenting the incentive from them by satisfying and retaining those. CRM can be seen as a way to achieve competitive advantage. Therefore, the definition for CRM is “A business strategy to manage interactive customer relationships to optimize long-term customer value and satisfaction”. The aim of this paper is to identify and seek the opinion of the marketing and technical people in service and manufacturing organizations with regard to perceived benefits of CRM which are the promises of software package before implementation are realized through the implementation of CRM in both service and manufacturing industries.