Managing Relationship with Customer Essay Example | Topics and Well Written Essays - 1000 words - 3

Managing Relationship with Customer - Essay ExampleAs the paper highlights CRM enables the enterprise to understand the node very closely so that its services can be tailor-made to meet each psyche requirement. Kotler et al. support these definitions and stated that customer relation management as the process of carefully managing detailed knowledge about individual customers and all customer involve points to maximise customer loyalty. A customer touch point is any occasion on which a customer encounters the brand and product from actual stick to personal or mass communications to causal observation. The essence of CRM is that it clearly recognises the long-run revalue of potential and current customers, and focuses to increase revenue, profits, and shareholder value through targeted trade activity such as developing, maintaining, and enhancing successful-customer relationships. As Kotler et al. suggest, one of the important goals of marketing is to develop deep, enduring re lationships with people and organisations that could directly or indirectly affect the success of the firms marketing activities. Relationship marketing aims to build mutually welcome long-term relationships with key constituents in order to earn and learn and retain their business. Relationship marketing has four dimensions customers, employees, marketing partners (channels, suppliers, distributors, dealers, agencies), and members of the financial community (shareholders, investors, analysis) and its outcome is the marketing network, a unique asset for the company.