What Is Customer Relationship Management Essay

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Customer relationship management (CRM) is a combination of people, processes and technology that seeks to understand a company's customers. In the case of CRM this is achieved mainly by providing a better service to your customers than your competitors. CRM not only improves the service to customers though; a good CRM capability will also reduce costs, wastage, and complaints Effective CRM also reduces staff stress, because attrition - a major cause of stress – reduces as services and relationships improved CRM enables instant market research as well: opening the lines of communications with customers gives direct constant market reaction to the products, services and performance, far better than any market survey. Good CRM also helps to grow …show more content…

Customers stay longer; customer churn rates reduce; referrals to new customers increase from increasing numbers of satisfied customers; demand reduces on fire-fighting and trouble-shooting staff, and overall the organization’s service flows and teams work more efficiently and more happily.

Key-Words - Customer Relationship Management, Business, Organisation.
INTRODUCTION
Customer Relationship Management (CRM) is one of the newest innovations in customer service today.
CRM stands f or customer relationship management and helps the management and customer service staff scope with customer concerns and issues.. Customer Relationship Management is an upright concept or strategy to solidify relations with customers and at the same time reducing cost and enhancing productivity and profitability in business. An ideal CRM system is a centralized collection all data sources under an organization and provides an atomistic real time vision of customer information. A CRM system is vast and significant, but it be can implemented for small business, as well …show more content…

To find out the theoretical aspects of CRM
2. To find out the Relevance of CRM
3. To find out the opportunities of CRM
4. To find out the challenges or threat of CRM.
RESEARCH METHODOLOGY
This paper is based on secondary data & the data will be collected from books magzines, journals & other periodical. The Research is quantitative in nature for which the data is collected from all secondary sources.
(A) It is obtained from existing literature, different scholars’ and researchers’ published books, articles published in different journals, periodicals, conference paper, working paper, magazines, news paper, central & state government website. (B) The secondary data and information will analyze for preparing the paper

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