Submitted by: Submitted by shaifudheen08
Views: 689
Words: 2362
Pages: 10
Category: Business and Industry
Date Submitted: 07/24/2010 04:57 AM
ASSIGNMENT NO 1:
APPROACHES TO THE MANAGEMENT OF CUSTOMER RELATIONSHIP
SUBMITTED BY:
NAME: NOUFAL VALIYA KALANAD
UK COLLEGE OF BUSINESS AND COMPUTING
SUBMITTED TO:
MUHAMMED QAMER
UK COLLEGE OF BUSINESS AND COMPUTING
INTRODUCTION
A customer, also called client, buyer, or purchaser, is usually used to refer to a current or potential buyer or user of the products of an individual or organization, called the supplier, seller, or vendor. This is typically through purchasing or renting goods or services. However, in certain contexts, the term customer also includes by extension anyone who uses or experiences the services of another. A customer may also be a viewer of the product or service that is being sold despite deciding to not buy them.
The word derives from "custom," meaning "habit"; a customer was someone who frequented a particular shop, who made it a habit to purchase goods of the sort the shop sold there rather than elsewhere, and with whom the shopkeeper had to maintain a relationship to keep his or her "custom," meaning expected purchases in the future.The slogans "the customer is king" or "the customer is god" or "the customer is always right" indicate the importance of customers to businesses - although the last expression is sometimes used ironically.
CRM stands for Customer Relationship Management. It is a process or methodology used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends.
Basics of CRM
The customer relationship management (CRM) process involves strategic decisions that are based on the needs, input and feedback of...