A Strategic Framework for Customer Relationship Management

2005 ◽  
Vol 69 (4) ◽  
pp. 167-176 ◽  
Author(s):  
Adrian Payne ◽  
Pennie Frow
Keyword(s):  
Conceptual Framework ◽  
Customer Relationship Management ◽  
Customer Value ◽  
Relationship Management ◽  
Customer Relationship ◽  
Assessment Process ◽  
Strategy Development ◽  
A Value ◽  
And Function ◽  
Role And Function

In this article, the authors develop a conceptual framework for customer relationship management (CRM) that helps broaden the understanding of CRM and its role in enhancing customer value and, as a result, shareholder value. The authors explore definitional aspects of CRM, and they identify three alternative perspectives of CRM. The authors emphasize the need for a cross-functional, process-oriented approach that positions CRM at a strategic level. They identify five key cross-functional CRM processes: a strategy development process, a value creation process, a multichannel integration process, an information management process, and a performance assessment process. They develop a new conceptual framework based on these processes and explore the role and function of each element in the framework. The synthesis of the diverse concepts within the literature on CRM and relationship marketing into a single, process-based framework should provide deeper insight into achieving success with CRM strategy and implementation.

Managing the Customer Relationship

2011 ◽  
pp. 1-13
Author(s):  
Keith F. Ward ◽  
Erik Rolland ◽  
Raymond A. Patterson
Keyword(s):  
Customer Relationship Management ◽  
Value Creation ◽  
Firm Value ◽  
Customer Value ◽  
Relationship Management ◽  
Customer Relationship ◽  
Creation Process ◽  
Goods And Services ◽  
A Value ◽  
Value Creation Process

Proponents of Customer Relationship Management (CRM) suggest that a firm can develop a value creation relationship, such that an increase in customer value, leads to an increase in firm value (Mithas et al., 2005). The value for the customers comes from the provision of goods and services that match their needs. However, the research to date on using e-CRM systems to both foster and monitor this value creation process is somewhat mixed. This chapter proposes to cross-functionally integrate organizational assets with customers’ interests via technology. The resulting framework can assist managers in improving services, through the use of e-CRM, to understand what is important to the customer.

scholarly journals Customer Value Controlling – Combining Different Value Perspectives

2015 ◽  
Vol 1 (2) ◽  
pp. 11 ◽  
Author(s):  
Andreas Krämer ◽  
Thomas Burgartz
Keyword(s):  
Customer Relationship Management ◽  
Customer Value ◽  
Relationship Management ◽  
Customer Relationship ◽  
Critical Parameters ◽  
Customer Profitability ◽  
Customer Data ◽  
A Value ◽  
Segmentation Approach ◽  
Customer Perspective

The article begins by presenting a model for the structuring of customer data which can be used to demonstrate the value of data in different forms of aggregation. Since Customer Value plays a crucial role in this model the term is examined more closely. As part of a value-based customer relationship management critical parameters are customer benefits and customer profitability. Both perspectives are included in the term Customer Value. A segmentation approach is shown which integrates the key measures of customer relationship management: value generation from the customer perspective (“Value to the Customer”) and value generation from the company’s perspective (“Value of the Customer”). The practical application of the method is demonstrated with typical cases concerning both, B2B as well as B2C markets.

scholarly journals Influence of Customer Relationship Management, Brand Equity, Perceived Product Quality, Perceived Price on Customer Value and Purchase Intention (Studies Philips Light Bulb in Batam)

2017 ◽  
Vol 9 (7) ◽  
pp. 122 ◽  
Author(s):  
Lukmanul Hakim ◽  
Nanis Susanti ◽  
Ujianto
Keyword(s):  
Customer Relationship Management ◽  
Brand Equity ◽  
Purchase Intention ◽  
Customer Value ◽  
Relationship Management ◽  
Perceived Quality ◽  
Customer Relationship ◽  
Light Bulb ◽  
Perceived Price

This study tried to determine and analyze the deeper understanding of the influence of customer relationship management, brand equity, perceived of product quality, perceived value and price to the customer at the customer's purchase intention Philips light bulb in Batam.The population in this study are all users (consumers) electric light bulb philips brands in the city of Batam. Testing of the model in this study, with Generalized Least Square Estimation (GLS), analysis of structural equation modeling (SEM), proportional random sampling method and software assistance Amos 22, on 240 respondents from eight times the 30 indicators the study variables. The test results indicate the model (fit) seen from the GFI, AGFI, TLI, CFI, RMSEA and CMIN / DF, each of 0915, 0901, 0949, 0953, 0063, and 1,376 are all that are in the range of expected values so that the model can be accepted.The results showed that: 1). Customer relationship management influence on customer value, it shows that with good customer relationship management program, will increase customer value. 2) Customer relationship management influence on purchase intention, it shows that with good customer relationship management program, will increase customer value. 3) Brand equity effect on customer value, it shows that with a good brand equity, will increase customer value. 4). Brand equity effect on purchase intention, it shows that with a good brand equity, will increase customer value. 5) Perceived quality of product effect on customer value, it indicates that the perceived quality of a good product, will increase customer value. 6). Perceived quality of product effect on purchase intention, this suggests that the perceived quality of a good product, will increase purchase intention. 7). Perceived price effect on customer value, it indicates that the perceived price friendly, will increase customer value. 8) Perceived price effect on purchase intention, this suggests that the perceived price friendly, will increase purchase intention. 9). Customer value effect on purchase intention, it shows that with high customer value, will raise the purchase intention.

USING SOCIAL NETWORK PARADIGM FOR DEVELOPING A CONCEPTUAL FRAMEWORK IN CRM

2011 ◽  
Vol 01 (04) ◽  
pp. 63-71
Author(s):  
Mohammad Javad Mosadegh ◽  
Mehdi Behboudi
Keyword(s):  
Social Networks ◽  
Social Network ◽  
New Media ◽  
Conceptual Framework ◽  
Customer Relationship Management ◽  
Relationship Management ◽  
Customer Relationship ◽  
Its Analysis ◽  
Analysis Tools

This study develops a conceptual framework for applying social networks in usual CRM models. Recent changing in customer relationship theme and putting new media and network-based paradigm into practice makes it imperative to find how social networks affect CRMs. Accordingly, this study explains the role of social networks in customer relationship management by using its analysis, tools and aspects of this concepts based on CRM models. We have provided a SCRM framework that is based on usual CRM models and incorporates Social networks and its tools, methods and analysis. The framework is combination of Social networks concept and traditional CRM concepts.

scholarly journals Customer Relationship Management In Banking Sector Case Study Of Conventional Banks

2021 ◽  
Vol 2 (6) ◽  
pp. 2136-2142
Author(s):  
Dennis Rydarto Tambunan ◽  
Heru Kreshna Reza ◽  
Melly Susanti ◽  
Sabri
Keyword(s):  
Customer Relationship Management ◽  
Financial Services ◽  
Customer Value ◽  
Banking Sector ◽  
Relationship Management ◽  
Secondary Data ◽  
Customer Relationship ◽  
Primary Data ◽  
Public Sector Banks ◽  
Conventional Banks

The importance of Customer Relationship Management (CRM) to help businesses acquire new customers, retain existing ones and maximize their lifetime value. This paper discusses the role of Customer Relationship Management in 4 bank units and the need for Customer Relationship Management to increase customer value by using several analytical methods in CRM applications. This paper attempts to identify the technological revolution witnessed by commercial banks and to what extent it has benefited banks to build better customer relationship management (CRM) services between public sector banks and private sector banks. The purpose of this study is 1) to analyze customer opinions about bank CRM in relation to service quality management. 2) To find out the customer's opinion about the bank's CRM on customer relationship management. This study uses primary and secondary data. Primary data will be collected by distributing structured questionnaires to conventional banks (Private and Government). Secondary data will be collected from records published by the financial services authority (OJS), standard textbooks and published research papers, and through web information. The primary data required will be collected from 6 banks in Bengkulu. In addition to collecting information from banks, it also collects information from the general public who have bank accounts.  

scholarly journals Implementing Social Customer Relationship Management in Turbulent Environments: A Dynamic Capabilities Perspective

Webology ◽  
2021 ◽  
Vol 18 (SI03) ◽  
pp. 49-70
Author(s):  
Vu Minh Ngo ◽  
Quyen Phu Thi Phan ◽  
Hieu Minh Vu
Keyword(s):  
Social Media ◽  
Customer Relationship Management ◽  
Technology Use ◽  
Customer Value ◽  
Dynamic Capabilities ◽  
Relationship Management ◽  
Customer Relationship ◽  
Superior Performance ◽  
Turbulent Environments ◽  
Social Crm

Purpose: Despite the crucial contribution of social media on customer relationship management (CRM) strategies, how social CRM can be transformed into customer value, and economics returns for firms remain unexplored in the hospitality industry, especially in turbulent environments. As a new approach for dealing with both gradual and disruptive changes in the market, this study develops and tests the mediating role of dynamic capabilities in the social CRM - performance relationship. Methodology: Drawing on resource-based view and capabilities perspectives, a mixed methodology was applied. First, a survey was conducted to quantitatively test the proposed hypotheses using Structural Equation Modelling with PLS approach (PLS-SEM) on a sample consisting of 111 SEMs. Then, a qualitative fuzzy-set Comparative Analysis (fsQCA) was employed to look for the unique combinations of capabilities to achieve firms‟ superior performance. Findings: The outcomes indicated a mixture of expected and unexpected findings, including: (i) the direct effect of social CRM on firm‟s performance; (ii) Dynamic capabilities as the missing link between social CRM capabilities and firms‟ performance; (iii) the unique roles of social media technology use in the combinations with other capabilities for generating the best firms‟ performance. Originality: This study is among the few to consider the dynamic nature of the market when investigating how to implement Social CRM successfully. The insights and practical implications in this study can be useful for managers in SMEs whose desire is to build a dynamic system for improving customer value and firms‟ performance.

Social Media, Customer Relationship Management, and Consumers' Organic Food Purchase Behavior

2018 ◽  
pp. 756-773
Author(s):  
Evelyn Chronis ◽  
Qiang Lu ◽  
Rohan Miller
Keyword(s):  
Social Media ◽  
Conceptual Framework ◽  
Customer Relationship Management ◽  
Organic Food ◽  
Relationship Management ◽  
Customer Relationship ◽  
Purchase Behavior ◽  
Consumer Engagement ◽  
Loyalty Program ◽  
The Impact

Extant research has been focusing on the effectiveness of social media in driving consumer engagement and interaction. However, little research has examined how social media influences firms' Customer Relationship Management. This chapter fills this gap by proposing a conceptual framework to capture the impact of social media on traditional Customer Relationship Management in the context of consumers' organic food purchasing. Specifically, this study investigates how social media influences the purchase behavior of loyalty program members and non-loyalty program members. This study also examines the effectiveness of different types of social media content on consumer purchase behavior of organic food.

Privacy and Security in the Age of Electronic Customer Relationship Management

2011 ◽  
pp. 1279-1301
Author(s):  
Nicholas C. Romano Jr. ◽  
Jerry Fjermestad
Keyword(s):  
Customer Relationship Management ◽  
Personal Information ◽  
Relationship Management ◽  
Unintended Consequences ◽  
Customer Relationship ◽  
Security And Privacy ◽  
Exchange Relationship ◽  
Privacy And Security ◽  
Goods And Services ◽  
A Value

This article presents a value exchange model of privacy and security for electronic customer relationship management within an electronic commerce environment. Enterprises and customers must carefully manage these new virtual relationships in order to ensure that they both derive value from them and minimize unintended consequences that result from the concomitant exchange of personal information that occurs in e-commerce. Based upon a customer’s requirements of privacy and an enterprise requirement to establish markets and sell goods and services, there is a value exchange relationship. The model is an integration of the customer sphere of privacy, sphere of security, and privacy/security sphere of implementation.

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