A Conceptual Model of Customer Innovation Centric

Review Of Literature

CRM is the strategic process of shaping the interactions between organizations and its customers with the goal of maximizing current and lifetime value of customers for the organization as well as maximizing satisfaction for customers (Shaw and Reed, 1999).Chaffey (2004) defined CRM an approach to building and sustaining long term business with customers. Chaffy(2004) discussed that CRM seeks to establish long term, committed, trusting and cooperative relation with customers, characterized by openness, genuine concern for the delivery of high quality services, responsiveness to customer suggestions, fair dealing and the willingness to sacrifice short term advantage for long term gains. Lee (2001) defined the steps to successful CRM based on best practice as the implementation of customer-centric business strategies, deriving from the redesigning of functional activities, demanding re-engineering of work processes and support, not driven by CRM technology. This situation makes organizations realized that CRM as a business strategy will maximize profitability, revenue and customer satisfaction by organizing around customer segments, fostering behavior and implementing customer-centric processes.