BACKGROUND OF STUDY:

Previously, the companies were product oriented. They focused on producing quality goods
only, but now as rivalry has raised so much in international market, the organizations now focus
more on creating positive and strong relationship with their customers. CRM have its origin
from early 1970s and after its evolution, companies became customer oriented rather than
product oriented.
Before, employees used to do all tasks manually that it took so much of hard work to entertain
customers, even then as the day ends it is felt if the customers would not stay loyal and
satisfied that can run business smoothly in future. But with the emergence of CRM which
merged software and technology, business and marketing approach changed completely. CRM
system consists of a company that has complete information about its customer preferences,
focuses on customer relationship management to maximize business profit and to keep
customers loyal and satisfied. And on the other hand it also minimizes the business cost and
investments.

PROBLEM STATEMENT:
CRM has benefited the businesses very effectively. It has open new opportunities for
entrepreneurs and has provided new strategies to the trade world. But as everything has pros
and cons, CRM also has another side of the coin. Due to tough competition it has several
disadvantages in the market place. Due to lack of knowledge about its customer preferences
and needs and poor customer relationship management, a company can lose its customers and
competitive edge in the market. If a company would not be able to execute its customer
relationship management strategy effectively it would not be able to improve the services
provided to its customers. Other operations of an organization would be effected by poor
customer relationship management like e-commerce, telecommunication and big data would
not be efficiently carried out in time. Therefore, a company should focus on improving its
relationship with its customers and should find and solve the issues regarding customers needs
in order to have loyal and satisfied customers that ensure such bonding to smoothly run
business in future.

REFERENCES:
https://www.managementstudyguide.com/origin-of-crm.htm
https://www.coursehero.com/file/p3cqhpt/12-Problem-statement-The-customer-relationship-
is-a-key-to-the-success-of-any/