“Great products are no longer viewed as the sole key to market-place success. Instead, companies with exceptional customer intelligence have a competitive edge. They know who their customers are, what they truly want, how they think and what they feel. Using CRM as a strategy means the relentless pursuit of deep customer insight, coupled with the will to use that knowledge to drive product development, marketing, sales and even service”(Whitney, 2006). This makes them very variable/ as a result businesses are trying to retain their customers and are increasingly investing in the CRM based technology to aid in this objective.
The CRM based technology is basically targeted and employed through the customers. It is the marketing department in a company which usually interacts with the customer and markets the product to them. As a result the marketing departments of various companies have been enthusiastically adopting CRM techniques, strategies sand technology. The basic technology for CRM allows the marketers to comprehend the buying behavior of the customers as well as spread the information concerning to all the business operations. Moreover the technology also enables them to operate with much more efficiency and speed while reducing costs.
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