Learning the Needs of Customers Through Customer Relationship Management

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INTRODUCTION TO CRM Definition: Customer relationship management is a strategy to learn the needs of customers. It mainly focuses on customer relations from an Enterprise perspective. It consists of systems and strategies that enable personal and relevant communications in a timely fashion. The goal is to optimize long term, profitable relationships . Enterprise consists of many divisions like sales, marketing, finance etc., to work effectively, all need to work collaboratively. CRM enables the Enterprise to understand the customer and there by combines the information of different divisions to a single set. As the data is stored in a single place, accessing becomes easier and faster. This increases profits of the Enterprise. Every organization maintains the customer data in different departments, which has to be collaborated into one system with some useful customer related information, which can be made possible through CRM. It provides 360-degree view of customer information. This decreases the customer management costs. CRM enables the organization to attract new customers. CRM at Minitrex At present the main problem at Minitrex is that no department shares the customer information with one another. It has two departments and four divisions which works separately. Jon Bettman, VP of marketing is responsible for selling and promoting array of products. Harold Blumfen, VP of insurance divided his group into industry-specific teams to design short-term insurance products to meet client's needs. Mariella Hopkins, VP of finance, she combined big banking services with small company flexibility. Every division is working effectively in their own limits. Georges Degas, director of sales got the call from the salesman r... ... middle of paper ... ...st invest funds on IT and must contact Denny khan, VP of IT division, to update their system's software. Conclusion CRM understand customers and retains them by better customer services. All the divisions in the Enterprise must collaborate. Customer information must be centralized. At Minitrex, collaboration divisions was lacking. If it is done then CRM will be working better than before at Minitrex. References Jill Dyche. The CRM handbook: A business guide to customer relationship management, Analytical CRM. Payne, A. and Frow, P. (2005) A Strategic Framework for Customer Relationship Management, Journal of Marketing, (69:4):167-191. Boulding, W., Staelin, R., Ehret, M., and Johnston, W. (2005) A Customer Relationship Management Roadmap: What is Known, Potential Pitfalls, and Where to Go, Journal of Marketing (69:4): 155-166.

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