Churn Problem in Everyday Business

2014 ◽  
pp. 1-25 ◽  
Keyword(s):  
Customer Relationship Management ◽  
Relationship Management ◽  
Business Environment ◽  
Customer Relationship ◽  
Modern Business ◽  
Business Approach ◽  
Churn Management

This chapter is an introduction into customer relationship management, explaining the modern business environment and techniques to monitor it. As part of that process, churn management is introduced and explained across industries. Throughout the chapter, a wider churn perspective is explained together with several examples from real cases. As the chapter comes to its end, the business approach become more and more involved, and the reader starts to realize the importance of churn management and its complexity. At the same time, the idea of techniques and methodologies as to how it can be managed start to shape key book points.

Possibilities of Implementing Customer Relationship Management in the Function of Improving the Competitiveness of the Civil Engineering Sector

2015 ◽  
Vol 725-726 ◽  
pp. 977-983 ◽  
Author(s):  
Boban Melovic ◽  
Mijat Jocovic ◽  
Irina Lugovskaya ◽  
Nikolai Vatin
Keyword(s):  
Customer Relationship Management ◽  
Business Processes ◽  
Civil Engineering ◽  
Relationship Management ◽  
Business Environment ◽  
Customer Relationship ◽  
Business Strategies ◽  
Crm System ◽  
Modern Business

Modern business strategies and quality of business environment are conditions for increasing competitiveness of companies in the civil engineering sector. Basic idea of Customer Relationship Management (CRM) is to shift the focus from the product to the buyer and in that way to build quality, long term and profitable relations. Products and services must be adjusted to the demands and specifications of certain clients. CRM is not a technology but a business concept, business philosophy. Basic aim of CRM in the civil engineering sector is gaining and keeping customers with the biggest purchasing potential. The article show that the implementation of the CRM system is in the direct positive correlation with business results of the companies from the civil engineering sector. In order to make the CRM strategy successful, it is necessary to determine appropriate strategy of creating long term, sustainable and profitable relationships with buyers, then to adjust business processes of the company and if necessary to adapt the organizational structure to creating the environment which is totally focused on the buyer.

A conceptual framework to explain the relationship among electronic customer relationship management and electronic customer lifetime value: investigation the antecedents and presentation a structural model

2018 ◽  
Vol 4 (10) ◽  
pp. 185-193
Author(s):  
Mohammad Safari
Keyword(s):  
Conceptual Framework ◽  
Customer Relationship Management ◽  
Relationship Management ◽  
Business Environment ◽  
Customer Lifetime Value ◽  
Customer Relationship ◽  
Electronic Business ◽  
Customer Lifetime ◽  
Lifetime Value ◽  
The Relationship

This study investigates the relationship between electronic customer relationship management (CRM) and electronic customer lifetime value and their analysis in the electronic business environment in the form of a conceptual framework. CRM is a tool that different industries, especially in competitive conditions, use to maintain customers and increase their satisfaction. An important concept that arises as customer lifetime value that specifies the expected amount of value that the client in a given period of time creates is undoubtedly related to the benefits that accrue to the organisation. The global nature of business as well as the development of information and communication technology is forcing organisations to take advantage of emerging technologies to maintain their competitiveness. The use of e-business is a prominent example. The results of this study could help both researchers and executives of organisations and businesses with the subject of research, and provide good insights for them. Keywords: Electronic business (e-Business), electronic customer relationship management (e-CRM), electronic customer lifetime value (e-CLV), relationship marketing;

Modern Business Strategy Customer Relationship Management in the Area of Civil Engineering

2014 ◽  
Vol 678 ◽  
pp. 644-647 ◽  
Author(s):  
Mijat Jocovic ◽  
Boban Melovic ◽  
Nikolay Vatin ◽  
Vera Murgul
Keyword(s):  
Customer Relationship Management ◽  
Business Strategy ◽  
Civil Engineering ◽  
Relationship Management ◽  
Customer Relationship ◽  
Competitive Advantages ◽  
Business Results ◽  
Doing Business ◽  
Long Run ◽  
Modern Business

Customer Relationship Management (CRM) is a modern business strategy which creates and maintain long term and profitable relations with the buyers. CRM serves for planning and maintaining processes of sales and strengthening competitiveness by registering all interactions of the company with its buyers and suppliers. This system collects and consolidates information from various sources within the company, and where it is possible, they collect information from the company's surroundings in order to offer unique image about each single client, in the real time. Aim of the paper is to show that CRM strategy can be successfully implemented in doing business in the area of civil engineering, so that good business results can be generated on that basis and strengthen competitive ability. Achieving close relations with customers represents main tools for obtaining competitive advantages, thus this paper will show the significance of setting up these relations with customers as well as ways how CRM can contribute to improving better operations on the long run.

Towards Customer Knowledge Relationship Management: Integrating Knowledge Management and Customer Relationship Management Process

2008 ◽  
Vol 07 (03) ◽  
pp. 145-157 ◽  
Author(s):  
Haroun Alryalat ◽  
Samer Al Hawari
Keyword(s):  
Knowledge Management ◽  
Customer Relationship Management ◽  
Rapid Change ◽  
Relationship Management ◽  
Research Area ◽  
Business Environment ◽  
Customer Relationship ◽  
Customer Knowledge ◽  
Knowledge Process ◽  
The Impact

Due to the strong competition that exists among organisations and the rapid change in the business environment, knowledge has turned out to become a key source for organisations to enhance the competitive advantage. Integrating Knowledge Management (KM) and Customer Relationship Management (CRM) process is a new research area, therefore, scientific research and literature around it remain limited. In addition, the impact of KM process on customer acquisition, retention, and expansion to improve customer satisfaction remains under study and report. The aim of this paper is to present a conceptual framework of KM integrated with CRM called Customer Knowledge Relationship Management (CKRM) Process depending on analysis of various models presented in KM and CRM. The main highlighting is laid upon the concepts of the concept of customer knowledge (knowledge about customer, knowledge for customer, knowledge from customer). Therefore, this paper contributes to the development of KM process (Knowledge Process about Customer, Knowledge Process for Customer, and Knowledge Process from Customer). The paper investigated how the companies in Jordan developed KM process to improvement the CRM process. Based on data collected from the company, results from analysis indicated that the KM process had a positive effect on CRM process.

Facilitating Customer Relationship Management in Modern Business

2018 ◽  
pp. 1594-1604 ◽  
Author(s):  
Kijpokin Kasemsap
Keyword(s):  
Competitive Advantage ◽  
Organizational Performance ◽  
Customer Relationship Management ◽  
Relationship Management ◽  
Customer Relationship ◽  
Sustainable Competitive Advantage ◽  
Efficient Approach ◽  
Business Operations ◽  
Modern Business ◽  
Insight Into

This article explains the overview of CRM; CRM and technological utilization; and the facilitation of CRM in modern business. CRM is a significant strategy to learn more about customers' needs and behaviors in order to develop the stronger relationships with them. CRM is the most efficient approach in maintaining and creating the relationships with customers in modern business. CRM helps business gain the insight into the behavior of their customers and modify their business operations to ensure that customers are served in the best possible way. CRM also helps business recognize the value of its customers and to capitalize on the improved customer relations. The article argues that facilitating CRM has the potential to enhance organizational performance and gain sustainable competitive advantage in modern business.

The Fundamentals of Customer Relationship Management

2018 ◽  
pp. 44-60
Author(s):  
Kijpokin Kasemsap
Keyword(s):  
Customer Relationship Management ◽  
Business Performance ◽  
Relationship Management ◽  
Customer Retention ◽  
Customer Relationship ◽  
Customer Engagement ◽  
Sustainable Competitive Advantage ◽  
Business Growth ◽  
Business Environments ◽  
Modern Business

This chapter presents the overview of customer relationship management (CRM), CRM and customer retention, CRM and customer engagement, CRM and technological utilization, and the importance of CRM in modern business. With the support of advanced technologies, CRM is the advanced approach that can enhance companies to achieve the positive relationships with customers, and can increase both customer retention and customer engagement in their products and services. The application of CRM can promote the capability of interacting with customers conformed to their customer requirements, and can help increase both sales and business growth in the competitive business environments. The chapter argues that utilizing CRM has the potential to enhance business performance and gain sustainable competitive advantage in the digital age.

MODERATING CUSTOMER RELATIONSHIP MANAGEMENT (CRM) TO ENHANCE FIRM PERFORMANCE THROUGH CONTINUOUS PRODUCT DEVELOPMENT

2012 ◽  
Vol 02 (01) ◽  
pp. 01-08
Author(s):  
Oladele Olajide Patrick
Keyword(s):  
Firm Performance ◽  
Product Development ◽  
Customer Relationship Management ◽  
Banking Sector ◽  
Relationship Management ◽  
Business Environment ◽  
Customer Relationship ◽  
Validity And Reliability ◽  
Cross Sectional Survey ◽  
Continuous Product

The banking sector in Nigeria went through various reforms in the last few years and this has resulted in stiff competition in the industry. Based on this the few surviving ones are making concerted efforts to stabilize in the ever changing competitive and uncertain business environment. More importantly, the banks have come to realized that building long-term relationship with their customer is sine qua non to achieving sustainable competitive advantage. This study examines the link between customer relationship management and performance on the banking sector. The researcher built a model using continuous product development to moderate the effect that CRM has on bank performance. Data using primary source was collected from the financial market through a cross sectional survey in Ekiti State, Nigeria. Two pretests of the questionnaire were performed for validity and reliability assessment. Based on extensive review of literature, a 54 item capturing all major sub processes in implementing CRM was evaluated. The Data collected were fitted into regression model. The result indicates that CRM implementation processes are associated with better firm performance more importantly when it is moderated by continuous product development.

The Impact of Customer Relationship Management and its Significant Relationship to Customers’ Satisfaction in Cooperative Banking (A Case Study of Kangra Central Co-operative Bank)

2017 ◽  
Vol 9 (2) ◽  
pp. 59 ◽  
Author(s):  
Manvinder Singh Tandon ◽  
Narender Nath Sharma ◽  
Vipan Kumar Bhulal
Keyword(s):  
Customer Service ◽  
Customer Relationship Management ◽  
Traditional Method ◽  
Customer Relations ◽  
Relationship Management ◽  
Business Environment ◽  
Customer Relationship ◽  
Business Organization ◽  
The Impact

Customer relationship management is the durable and the most effective approach in maintaining and creating relationship with customers. Once this personal and emotional relationship is built, it is very easy for any organization to identify the actual needs of customer and help them to serve them in a better way. Business organization would not flourish until and unless their customers are happy; this is the reason, why Customer Relationship Management (CRM) is so important? In the present competitive business environment attracting and retaining customers is a challenging task for business organization. To grow, businesses do any only need to attract new customers but also to hold on to existing customers. CRM facilitates organization not only to gain customers but also to retain them. It focuses on improving sales and productivity by effectively catering to customer demands, queries and complaints. Though the traditional method of maintaining good customer relations is still being used yet the importance of CRM cannot be neglected. The more effectively a business can use information about its customer to meet their needs the more profitable it would be for the organization. Companies can provide excellent customer service if they are aware about their customers’ needs and react to those needs effectively. CRM helps you to understand, anticipate and respond to your customers’ needs and react in a consistent way. The paper analyses how organization use CRM as a technique to gain business distinction.

scholarly journals Electronic Customer Relationship Management (E-CRM) Modeling on Micro, Small & Medium Enterprises (MSMEs) Banten

2019 ◽  
Author(s):  
Vidila Rosalina ◽  
mulyanah ◽  
Abdul Malik
Keyword(s):  
Information Technology ◽  
Customer Relationship Management ◽  
Small And Medium Enterprises ◽  
Relationship Management ◽  
Customer Relationship ◽  
Local Approach ◽  
Technology System ◽  
Comprehensive Picture ◽  
Modern Business ◽  
Medium Enterprises

Micro Small and Medium Enterprises (MSMEs) Banten region are still largely managed by conventional methods, the touch of information technology has not been optimal. One of the modern business approaches is to pay attention to customer factors, not just before the transaction, but also after the transaction which is no less important. The Information Technology system used to manage customers with the purpose of increasing customer retention is called Customer Relationship Management (CRM). The existing CRM software is more oriented to large established companies, so it will cause some discrepancies when those are applied in MSMEs. This research tried to develop E-CRM software based on business needs of MSMEs in Banten by using local approach in order to facilitate user in its usage. The features in E-CRM will help MSMEs in implementing customer relationship management so as to enhance their competitiveness with other companies in maintaining the business they run and as a means of acquiring a wider new market. The approach used was using the model of 'localization' through the observations made on MSMEs business incorporated in the Association of Micro Small and Medium Entrepreneurs Indonesia (HIPMIKINDO) of Banten region. Identification and analysis of system requirements using the Zachman Framework was done in order to obtain a complete and comprehensive picture. The results of this research are expected to provide an overview of the characteristics of E-CRM modeling on MSMEs in Banten region.

scholarly journals Model analitičkog CRM-a u funkciji optimizacije maloprodajnih zaliha

2017 ◽  
Vol 5 (2) ◽  
Author(s):  
Branimir Dukić ◽  
Martina Martinović ◽  
Stojana Dukić
Keyword(s):  
Inventory Management ◽  
Customer Relationship Management ◽  
Relationship Management ◽  
Customer Relationship ◽  
Inventory Optimization ◽  
Crm System ◽  
Modern Business ◽  
The Difference ◽  
The Stability ◽  
High Level

Customer relationship management is a modern business philosophy that grew out of relationship marketing focusing on a consumer as an individual, i.e. on satisfying consumer needs in order to foster their loyalty and turn them into repeat customers. Although the primary goal of customer relationship management is to ensure the stability of revenue generation from a long-term partnership between a supplier and a consumer, it is also a philosophy that rationalizes operations primarily through reducing the costs of attracting new customers, thereby optimizing inventories. Inventory optimization involves adjusting the production process to the needs of consumers. In the modern retail environment, characterised by high level of competition, maintaining inventories not readily marketable can mean the difference between survival and going out of business. Therefore, modern retail systems tend to optimize inventory. Today, this would be impossible to do without the possibilities provided by CRM systems, in particular its subsystem, analytical CRM. Monitoring consumer behaviour in retail is within the scope of CRM system. Data obtained from such systems serve as the basis for inventory management. However, for inventory management to be possible, one has to consider which models, especially stochastic, can be used in inventory optimization. These models then need to be applied in the analytical subsystem of the CRM system. For such models to have use value, it is necessary to adjust the transaction part of the CRM system in terms of collecting the data needed for selected retail inventory optimization models. The answers to these and other questions relating to the use of analytical CRM in optimizing retail inventory are contained in the results of this research.

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