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customer relationship management

customer relationship management

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Published by Khushboo Vadgama

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Published by: Khushboo Vadgama on Feb 07, 2011
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12/24/2011

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Customer Relationship Management
Chapter 1. EXECUTIVE SUMMARYObjective 
My prime objective is to know about the functioning of Customer Relationship Management & its contribution towardsEconomic Development of the county
Primary Data
1.Canara Bank.2.Mandvi Co.operative Bank.3.www.crmsurvey.com
Secondary Data
1.CRM relating books.2.Economic Times.3.CRM Articles from South Indian Bank.4.CRM in India.
Chapter 2. Customer Relationship ManagementIntroduction
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Customer Relationship Management
Customer Relationship Management is all about understanding thecustomer’s needs and leveraging this knowledge to increase salesand improve service. Customer Relationship Management blurs the boundaries between sales and services, and is used to unify acompany’s activities around the customer. The overarching goal isto increase customer share and customer retention throughcustomer satisfaction. True Customer Relationship Managementrequires relentless focus on the customer. That is it in a nutshell.Just as a Roadmap will help you to understand the roads, you willneed to take as well as alternative routes, so CRM helps signcompanies make decision about the best route and objectives for their situation.Many businesses use CRM as a management tool for after the prospect has been given to a customer, but to do this you mustattract the customer. Although CRM is great for managingcustomer relationship, it can also utilized for marketing purposeand you can squeeze out of the most of a system that savesvaluable time and improves relationships significantly.
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Customer Relationship Management
2.1. The Evolution Of Customer Relationship Management.
CRM must start with a business strategy, which drives changes inthe organization and work processes, which are in turn enabled byInformation Technology. The reverse does not work.The seeds of modern-day CRM were sown in the 1960s. Academicresearchers found that the "4 Ps" marketing framework--product, price, place and promotion was less valuable for industrial or service-centric businesses where ongoing relationships werecritical. By the 1980s, "Relationship Marketing" was used todescribe this new focus on understanding customer segments,delivering ongoing quality service, and achieving high customer satisfaction.Relationship marketing was about "putting the customer in themiddle of the business circle," in the words of Dick Lee, principalof St. Paul-based Hi-Yield Marketing. "As part of that earlyrelationship marketing movement, we had untold frustration because we didn't have the technology to support what we weredoing," Lee says. "It really wasn't until mid-90s that we had thetechnology we needed."
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