Welcome to the InfoSci Platform
The CRM-KDD Nexus

The CRM-KDD Nexus

Nikhilesh Dholakia, Jounghae Bang, Lutz Hamel, Seung-Kyoon Shin
Copyright: © 2005 |Pages: 6
ISBN13: 9781591405535|ISBN10: 159140553X|EISBN13: 9781591407942
DOI: 10.4018/978-1-59140-553-5.ch498
Cite Chapter Cite Chapter

MLA

Dholakia, Nikhilesh, et al. "The CRM-KDD Nexus." Encyclopedia of Information Science and Technology, First Edition, edited by Mehdi Khosrow-Pour, D.B.A., IGI Global, 2005, pp. 2803-2808. https://doi.org/10.4018/978-1-59140-553-5.ch498

APA

Dholakia, N., Bang, J., Hamel, L., & Shin, S. (2005). The CRM-KDD Nexus. In M. Khosrow-Pour, D.B.A. (Ed.), Encyclopedia of Information Science and Technology, First Edition (pp. 2803-2808). IGI Global. https://doi.org/10.4018/978-1-59140-553-5.ch498

Chicago

Dholakia, Nikhilesh, et al. "The CRM-KDD Nexus." In Encyclopedia of Information Science and Technology, First Edition, edited by Mehdi Khosrow-Pour, D.B.A., 2803-2808. Hershey, PA: IGI Global, 2005. https://doi.org/10.4018/978-1-59140-553-5.ch498

Export Reference

Mendeley
Favorite

Abstract

Customer relationships are increasingly central to business success (Kotler, 1997; Reichheld & Sasser, 1990). Acquiring new customers is five to seven times costlier than retaining existing customers (Kotler, 1997). Simply by reducing customer defections by 5%, a company can improve profits by 25% to 85% (Reichheld & Sasser, 1990). Relationship marketing—getting to know customers intimately by understanding their preferences—has emerged as a key business strategy for customer retention (Dyche, 2002).

Request Access

You do not own this content. Please login to recommend this title to your institution's librarian or purchase it from the IGI Global bookstore.