The concept of CRM as we know it today was initially established in the early 90s by professionals in the field of business management, consultants as well as academic professionals. The focus was to develop a system which can enable the company to identify the best target customers for the company and provide ways trough which they can be retained. It was established than that the business performance in terms of the market could be determined through the loyalty of its customers and the number of new customers being attracted by it and current customer being retained by the business.
The concept of CRM was based on the fact that customer spending becomes varied and tends to increase over a period of time, satisfied customers tend to be brand ambassadors and good sources of refers as they provide positive word of mouth and that loyal customers are relatively less price insensitive.
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