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Customer Relationship Management (15020071) (History of CRM (Contact…
Customer Relationship Management (15020071)
CRM
: the development & maintenance of mutually beneficial long term relationships with strategically significant customers
increase long term profit of the firm's customers by proper management of customer interactions
History of CRM
Contact Management Software -
Late 1980s
Sales Force Automation -
Early 1990s
Database Marketing -
Early 1980s
The Acronym "CRM" invented -
1995
The Rolodex -
1950s
Mobile & Software-as-a-service -
Late 1990s
The Ledger
Innovations -
2000s
Vast CRM Platforms -
Present
Evolution of Information Requirements
Enterprise Resource Planning -
ERP
Supply Chain Management -
SCM
Manufacturing Resource Planning -
MRP II
Customer Relationship Management -
CRM
Materials Requirements Planing -
MRP
Important aspects of CRM
Relationship instead of a transaction view
Move from product to customer as unit of analysis
Customer acquisition
Customer Development
Customer Retention
Individual Customer Level View
CRM Stratergies
Customer loyalty
Customer Development
Customer Retention
Use e-business strategies
Customer Acquisition
Customer Profitability
Types of CRM
Analytical CRM
Collaborative CRM
Operational CRM
Benefits
Directly involved with business decisions
Might not cost effective
Higher Security
Less susceptible o outside issues
More control over your database