Customer Relationship Management

BBA 3551 UNIT 5 #7
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Customer Relationship Management (CRM)
Customer relationship management system is a set of business processes used to attract sell, manage, and support customers. CRM enhances interaction between customers and the organization (Kroenke, 2015). CRM can also be defined as a strategy used to analyze and understand customer's needs including customer's behaviour trends eventually establishing a stronger and lasting relationship with them. Compared to other traditional functional applications, CRM enables organization to address all customer related activities and events providing a single warehouse for data (Kroenke, 2015)
CRM can be beneficial because it provides better services to customers at the same time increasing the organization profitability. CRM in sales application supports sales, especially with the existing customers. It contains features that enable companies prioritize their activities based on the customers' purchasing trends and history. The sales representatives can increase sales using CRM by targeting specific customers especially those who make bulk purchases or those who have the potential to purchase in bulk (Kroenke, 2015). For example, using order management application, the customers can track their order status and further obtain information about how and when the shipment process of goods is being processed. Other support applications can help in solving problems that might arise by ensuring customers are satisfied with the services or goods delivered (Kroenke, 2015)
CRM forms an important linkage between product marketing and product development; the system can analyze customer’s trends in relation to the product and identify any issues that may arise to improve the product quality. In summary CRM e...