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What is CRM ?

  

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Customer Relationship Management or CRM is an essential part of modern business management.

Customer Relationship Management concerns the relationship between the company and the company's customers.

Multinational orginizations and home based businesses have customers. Customer Relationship Management is the same in principle for these two orginizations. It is the scope of CRM which varies.

There are three steps to building customer relationships:

• determine mutually satisfying goals between organization and customers
• establish and maintain customer rapport
• produce positive feelings in the orginization and the customers

The organization and the customers both have sets of conditions to consider when building the relationship, such as wants and needs of both parties:

• organizations need to make a profit to survive and grow
• customers want good service, quality products and an acceptable price

Good CRM can influence both sets of conditions.

CRM is a new concept to many orginizations. Here is why most forward thinking organizations devote a great deal of energy to set up and management of CRM capability

CRM can have a major impact on an orginization through:

• shifting the focus from product to customer
• streamlining the offer to what the customer requires, not what the organization can make
• highlighting competencies required for an effective CRM process

to be continued.....