A STRATEGIC APPROACH TOWARDS BUILDING AN EFFECTIVE CUSTOMER RELATIONSHIP MANAGEMENT
Authors:
ONU Christopher
Publication Type: Journal article
Journal: Babcock Journal Of Management And Social Sciences
ISSN Number:
0
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Abstract
This paper on customer relationship management represents a refocusing of marketing practices in line with the main emphasis which has shifted from satisfying customer needs to building relationship through a long term value creation process. More specifically, it focuses on strengthening the bond between the customers and the firm by maximizing the value of relationship for the benefit of both players, the customer and the organization. Due to the globalization of business, competition has intensified; Thus the challenge facing every organization in the marketplace is how to develop a strategic approach to customer relationship management and to provide adequate support that enables the organization build profitable relationship. In order to meet the needs of most of the customers, organization needs to know how to attract, and retain profitable customers by creating opportunities for delivering incremental values through its ability to enhance customers needs and increase as well, customers satisfaction; while identifying what creates value, and delivering the same value to each customer. The fundamental objective of this paper is to contribute to knowledge. This paper will also determine what will increase customer loyalty and decrease threats from competitors