Crm – Marketing Innovation of the 21th Century

CRM – MARKETING INNOVATION OF THE 21TH CENTURY

Corneliu TUDOR

Faculty of Business Administration (English teaching), Group 127

Abstract. The organization's customer relationship management (CRM) system is frequently a central element of the knowledge management function of the firm. It integrates information from internal and external sources to guide managers and field personnel in the development and presentation of the firm's value proposition. The CRM is an organization interface towards its end-users, it establishes new relationships, strengthens the existing ones, improves loyalty, customer life cycle and customer satisfaction by using all available channels and tools. The present essay seeks to shed light on the meaning of the CRM concept by segmenting it into three core elements: technological, business and customer. Each of these perspectives that define CRM will be thoroughly analyzed from different points of view in order to understand better important this process is and which are the benefits on using a customer-centric market strategy. The theoretical concepts will be then highlighted in a case study on the integration of MRC tool, Viper, for the company Martin Dawes, the largest UK Independent Mobile Service Provider and the benefits it provided for the company.

Key words: CRM, CRM definitions, CRM software integration, perspectives of CRM,

1. Introduction

In the 21th century CRM (Customer Relationship Management) seems to be the new buzz in marketing management. Companies have realized the importance of the relationship between them and their customers, their suppliers, their distributers and so on, and are now focusing on process that emphasize and have as major objective to strengthen these relationships vital to the development of a company. Many tend to consider CRM as a part of the marketing management scheme on the basis that it is used to promote value to clients, it gathers customer information and it uses customer...