CRM is a management approach that seeks to create, develop and enhance relationships with carefully targeted customers. CRM should be viewed as a strategic set of activities that commences with a detailed review of an organisation`s strategy and concludes with an improvement in shareholder value. The notion that competitive advantage stems from the creation of value for the customer and for the company is key to the success of CRM. This demands that responsibility for value delivery is shared across functions and hierarchies. Because CRM is a cross-functional activity it can be difficult without a systematic approach.
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