Myths, Realities & Current Trends in Customer

Relationship Management
Mr. R. V. Tehra**

 Abstract: -
The idea behind Customer Relationship Management is not new. Customer
Relationship Management is simply a tool & technology used to achieve incremental
operational improvement. Customer relationship management (CRM) is a broadly
recognized, widely-implemented strategy for managing and nurturing a company’s
interactions with customers, clients and sales prospects. It involves using technology
to organize, automate, and synchronize business processes—principally sales
activities, but also those for marketing, customer service, and technical support. The
overall goals are to find, attract, and win new clients, nurture and retain those the
company already has, entice former clients back into the fold, and reduce the costs of
marketing and client service. CRM is a set of strategies, processes, metrics,
organizational culture and technology solutions that enhance an organization's ability
to see the differences in its customers’ and prospects' behavior and needs, track new
opportunities to better serve their customers and act, instantly and profitably, on those
differences and opportunities.
This paper will try to focus on the evolution, benefits, challenges & opportunities in the
Customer Relationship Management. Further there will be an attempt to study the various
emerging CRM practices.

Key Words: - Customer Relationship Management, Management, Emerging,

Customer Service, Technical

*Asst. Professor, School of Commerce & Management Sciences, S. R. T. M. University, Nanded

(MH)