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Crm Lecture Series

In: Computers and Technology

Submitted By Prasanna22
Words 5607
Pages 23
Buttle’s (2009) Forward Customer relationship management’s impact in the commercial marketplace cannot be undervalued. Despite traditional economic theory on market entry and pricing prescribing that enterprises should engage customers through prefabricated reactions and interactions given the customer event taking place, the nature, impact and reach of the power of enriching customer experiences has emerged in 2008. Yet, one of the most common mistakes made by global companies is to view CRM as solely a technology or business challenge. CRM is first and foremost a business strategy that can be effectively executed through the appropriate business process and technology management capabilities that best match to an organization’s customer-facing goals. Long gone are the views of CRM being applications or business process methodologies for engaging customers in contact centers in the customer service functional domains within an organization. Today, every interaction or ‘moment of truth’ with customers can help sustain, direct, implore or resuscitate desired outcomes by enterprises. These processes transcend functional departmental silos and extend their reach across the process network to include sales and distribution partners and channels. Technology, process and organizational architectures together in concert will determine the effectiveness of how these end-to-end business processes will align to customer intents and enrich their overall experience with an organization. The CRM strategic paradigm has gone through a three-phase generational shift over the last decade (1998–2008) with enterprises maturing from: 1) Marketing to customers the best products at the best prices, to 2) Marketing customers with the best services, to 3) Marketing customers with the dynamic services and products that they want and desire as measured by customer intent. Today, with the

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