The Fundamentals of Customer Relationship Management

The Fundamentals of Customer Relationship Management

Kijpokin Kasemsap (Suan Sunandha Rajabhat University, Thailand)
Copyright: © 2018 |Pages: 17
DOI: 10.4018/978-1-5225-5619-0.ch003

Abstract

This chapter presents the overview of customer relationship management (CRM), CRM and customer retention, CRM and customer engagement, CRM and technological utilization, and the importance of CRM in modern business. With the support of advanced technologies, CRM is the advanced approach that can enhance companies to achieve the positive relationships with customers, and can increase both customer retention and customer engagement in their products and services. The application of CRM can promote the capability of interacting with customers conformed to their customer requirements, and can help increase both sales and business growth in the competitive business environments. The chapter argues that utilizing CRM has the potential to enhance business performance and gain sustainable competitive advantage in the digital age.
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Background

Organizational transactions are handled along a process of making the customer relationships (Dalsace & Jap, 2017). Effective CRM is the complimentary business strategy (Vaeztehrani, Modarres, & Aref, 2015) for many companies in the digital age (Benmoussa, 2005) with the goal of improving the business relationships with customers (Soltani & Navimipour, 2016). CRM is used to define the process of maintaining relationship with customers (Hassan et al., 2015) toward increasing customer satisfaction and customer loyalty (Coussement & van den Poel, 2008). Customer loyalty is the previous customers' intention to buy products and services from the particular company (Kasemsap, 2017c).

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