1

CIA-1(A)
RESEARCH METHODOLOGY

TOPIC- JOuRnAL REvIEw AnD PRObLEM

IDEnTIfICATIOn (CRM)

GROuP MEMbERS- ADHITHYA RAM M (20212602)

EkAnSH DAnGAYACH (20212619)
fAIYAz AHMED AnSARI (20212620)
JOSEPH R PAkHuOnGTE (20212626)
nITHEESH Mk (20212641)

SubMITTED TO- PROf. MAHESH CHAnDRA JOSHI

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CONTENTS
S.NO. TOPIC
1. Background- Research Theme and
Significance (Page No.- 3)
2. Methodology (Page no.: 4-13)

3. Research Problem (Page No.:14)

4. Identification of Research Gap

(Page no.:15)
5. Implications from the research
(Page no.: - 16)
6. References (Page no.: - 17)
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bACkGROunD- RESEARCH THEME AnD

SIGnIfICAnCE

Research Theme- Customer Relationship Management (CRM)

Customer relationship management (CRM) is a process in which a business or other
organization administers its interactions with customers, typically using data analysis
to study large amounts of information.
CRM systems compile data from a range of different communication channels,
including a company's website, telephone, email, live chat, marketing materials and
more recently, social media. They allow businesses to learn more about their target
audiences and how to best cater for their needs, thus retaining customers and driving
sales growth. CRM may be used with past, present or potential customers. The
concepts, procedures, and rules that a corporation follows when communicating with
its consumers are referred to as customer relationship management (CRM). This
complete connection covers direct contact with customers, such as sales and service-
related operations, forecasting, and the analysis of consumer patterns and behaviours,
from the perspective of the company.
The role of analytical CRM systems is to analyse customer data collected through
multiple sources and present it so that business managers can make more informed
decisions. Analytical CRM systems use techniques such as data mining, correlation,
and pattern recognition to analyse the customer data. These analytics help improve
customer service by finding small problems which can be solved, perhaps by
marketing to different parts of a consumer audience differently.
Significance- CRM helps businesses build a relationship with their customers that,
in turn, creates loyalty and customer retention. Since customer loyalty and revenue
are both qualities that affect a company's revenue, CRM is a management strategy
that results in increased profits for a business. At its core, a CRM tool creates a
simple user interface for a collection of data that helps businesses recognize and
communicate with customers in a scalable way. CRM helps businesses learn about
their customers, including who they are and why they purchase your products, as well
as trends in customers' purchasing histories. CRM software allows businesses to
optimize their customer interactions. By simplifying and streamlining many of the
more complex customer interaction processes, CRM increases customer satisfaction.
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METHODOLOGY
ARTICLE- 1
Name of the article/research paper is- Customer Relationship Management: Its Dimensions and
Effect on Customer Outcomes

Authors of this article/research paper are- Frederick Hong-Kit Yim, Rolph E. Anderson and
Srinivasan Swaminathan.
This research paper was published by- Taylor & Francis, Ltd.
Source of the article is- The Journal of Personal Selling and Sales Management, Fall, 2004, Vol. 24
Summary- In this research paper the requisite activities for effective CRM implementation have
been identified and in this research paper the effect of CRM on customer satisfaction, customer
retention, and sales growth was investigated and in this research paper it has been observed that
managers need to think beyond the technological components of CRM and focus on four key CRM
dimensions to significantly enhance customer loyalty and sales growth.

Objectives of this research paper- are specifically (1) to provide more conceptual clarity to the do-
main of CRM and (2) to investigate the effect of CRM implementation on important business
performance metrics, such as customer satisfaction, customer retention, and sales growth. (3) to
study the effect of four dimensions of CRM implementations i.e., focusing on key customers,
organizing around CRM, managing knowledge and incorporating CRM-based technology.

Hypothesis developed for research were- H1= There is a positive relationship between 'focusing on
key customers" and customer satisfaction. H2= There is a positive relationship between
"incorporating CRM-based technology" and customer retention. H3= There is a positive relationship
between customer satisfaction and customer retention. H4= There is a positive relationship between
customer retention and sales growth.

Methodology- Methodology used to test the model was firstly, sample and data collection
procedure was done wherein they collected survey data on the four dimensions of CRM and
company performance. The study sample consisted of 1 ,223 service firms selected on a random
probability basis from the Business Directory of Hong Kong. Included in the sample frame were
banks, investment companies, insurance companies, and other firms characterized by a high degree
of relationship orientation, and thus well suited for testing our CRM framework. Questionnaires
were sent directly to general managers or similar-level senior managers at each of the companies
selected for the study.

Statistical tools used for analysis- were factor analysis, reliability and confirmatory factor analysis,
chi-square value test, root mean square error of approximation (RMSEA), goodness-of-fit index (GFI),
adjusted goodness-of-fit index (AGFI), LISREL analysis.

Summary/analysis and results of major findings- Reliability coefficients for all scales exceeded 0.7,
The model fit the data well with a chi-square value of 428.3 and 217 degrees of freedom. The root
mean square error of approximation (RMSEA) was 0.045, goodness-of-fit index (GFI) was 0.92, and
adjusted goodness-of-fit index (AGFI) was 0.90. It can be observed through tests that "focusing on
key customers" and "managing knowledge" have significant effects on customer satisfaction, with
parameters equal to 0.50 and 0.28, respectively. However, customer satisfaction is not directly
affected by "organizing around CRM" and "incorporating CRM-based technology." Parameter
estimates disclose that "focusing on key customers" affects customer retention only through
customer satisfaction. Sales growth is positively and significantly affected by customer retention.
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ARTICLE-2
Name of the article/research paper is- Why Do Customer Relationship Management Applications
Affect Customer Satisfaction?

Authors of this article/research paper are- Sunil Mithas, M. S. Krishnan and Claes Fornell

This research paper was published by- Sage Publications, Inc. on behalf of American Marketing
Association
Source of the article is- Journal of Marketing, Oct., 2005, Vol. 69, No. 4

Summary- This research evaluates the effect of customer relationship management (CRM) on
customer knowledge and customer satisfaction. An analysis of archival data for a cross-section of
U.S. firms shows that the use of CRM applications is positively associated with improved customer
knowledge and improved customer satisfaction. This article also shows that gains in customer
knowledge are enhanced when firms share their customer-related information with their supply
chain partners.

Objectives of this research paper is- (1) To understand the effect of CRM applications on customer
knowledge and customer satisfaction. (2) To examine the role of customer knowledge as a mediating
mechanism to explain the effect of CRM applications on customer satisfaction. (3) To understand the
moderating effect of supply chain integration in leveraging CRM applications.

Hypothesis developed for research were- H1: The use of CRM applications is associated with an
improvement in the customer knowledge that firms gain. H2: Firms with greater supply chain
integration are more likely to benefit from their CRM applications and achieve improved customer
knowledge. H3: The use of CRM applications is associated with greater customer satisfaction. H4:
Customer knowledge mediates the effect of CRM applications on customer satisfaction.

Methodology- They obtained the CRM and IT- related data from InformationWeek, a leading, widely
circulated IT publication in the United States. InformationWeek collected this data by surveying the
top IT managers at more than 300 large U.S. firms during the 2001-2002 period an they collected
customer satisfaction data (American Customer Satisfaction Index [ACSI]) that was tracked by the
National Quality Research Centre (NQRC) at the University of Michigan to obtain an archival measure
of customer satisfaction for the firms common in the Information- Week data and the NQRC
database.

Statistical tools used for analysis- ACSI analysis, Probability, Ordinary least square approach (OLS),
sensitivity analysis, correlation, propensity scores and Probit analysis.

Summary/analysis and results of major findings- Consistent with H1, we find that CRM applications
are positively associated with an improvement in customer knowledge. In H2, we posit a moderating
effect of supply chain integration on the relationship between CRM applications and customer
knowledge. We find support for this hypothesis because the joint hypothesis test for the terms
involving CRM applications and the interaction of CRM applications with supply chain integration is
statistically significant. We also find support for H3, which posits a positive association between CRM
applications and customer satisfaction In H4, we suggest that the association between CRM
applications and customer satisfaction is mediated by the effect of CRM applications on customer
knowledge. We used the Sobel test to assess this mediation effect. We find evidence for the indirect
effect of CRM applications on customer satisfaction mediated through customer knowledge (1326 =
4.307, p < .028). This result implies that, holding other factors constant, firms that report an
improvement in customer knowledge due to their customer-related IT systems have ACSI scores
4.307 points greater than firms that report no gains in customer knowledge following investments in
CRM applications.
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ARTICLE- 3
ARTICLE NAME-The role of emotional aspects of the youngster and
consumer relationship management
SOURCE- Journal of Product & Brand Management
PUBLISHER NAME- Emerald Group Publishing Limited
AUTHORS- Jiyoung Hwang Hough Graduate School of Business, University of Florida,
Gainesville, Florida, USA, and Jay Kandampully Department of Consumer Sciences, The
Ohio State University, Columbus, Ohio, USA
Purpose – This study aims to investigate the roles of three emotional factors (self-concept
connection, emotional attachment, and brand love) in the context of younger consumer
relationship management

Design/methodology/approach – The main data collection was done via a self-selected

online survey of a representative group of younger consumers. Data analysis was performed
with structural equation modelling and multidimensional scaling.
Findings – Three emotional factors enhance younger consumers’ brand loyalty, but the
strength of the impact varies. Emotional attachment has the strongest impact on brand
loyalty, followed by self-concept connection and brand love. Self-concept connection
increases brand love as well as emotional attachment. The result of perceptual mapping
shows different perceptions of luxury brands in younger consumers’ minds.
Research limitations/implications – Generalizability needs to be established with a wider
range of younger consumer groups. The insights on younger consumers’ brand relationships
help brand managers devise effective brand management strategies.
Originality/value – This study is the first attempt to identify the importance of emotional
aspects in a younger consumer-brand relationship. The current study extends branding
literature by shedding light on the roles of emotional factors in brand management, which
also help brand managers.

In more globalized and competitive business circumstances, managers need to devise

effective strategies to retain their customers. Increasingly, managers need to recognize the
importance of younger consumers, even for luxury brands. As this study illustrates,
concentrating on “emotional connections” with consumers, rather than just on functional
benefits/advantages, can be a viable and critical consideration for their management decisions
to enhance customer brand loyalty
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ARTICLE-4
ARTICLE NAME- The empirical study of CRM Consumer-company
identification and purchase intention in the direct selling industry
AUTHORS- Wann-Yih Wu and Cheng-Hung Tsai National Cheng Kung University, Tainan,
Taiwan
SOURCE- International Journal of Commerce and Management
PUBLISHER NAME- Emerald Group Publishing Limited
Purpose – The purpose of this paper is to address the research issue of how companies
manage their consumers’ identification to compete effectively in intensely competitive
marketplaces. Drawing on theories of social identity and organizational identification, this
study proposes that favourable consumer purchase intentions often result from consumer-
company identification (C-C identification) which depends on several identity judgments like
identity prestige and identity attractiveness.
Design/methodology/approach – A research model and 13 hypotheses are derived in this
study. LISREL models are employed to identify the validity of the entire model and data are
collected from ten direct selling companies.
Findings – The results of empirical analysis show that identity judgments positively affect C-
C identification, and the degree of C-C identification positively influences consumer
purchase intentions. The moderating effects of identity trustworthiness and embeddedness
have mild influences on the relationship between identification and purchase intentions.
Practical implications – This study confirms that encouraging identification has not only
been identified as a good employee retention strategy in organization management but also a
good customer retention strategy in marketing management.
Originality/value – This study intends to go one step further to empirically test the viability
of the C-C identification model that is lack empirical support.

Discussion and conclusions

In this paper, we have drawn upon social identity and organizational identification theory to
support the notion that consumers will identify with attractive and prestigious companies and
this will then result in positive consumer purchase intentions. Following these ideas led to the
design of a research model reflecting the specific C-C identification causal relationship and to
an assessment of its impact on consumer purchase intentions in the directing selling industry.
The key managerial implication of this investigation is the empirical support of the positive
effect of C-C identification on purchase intention in the Taiwanese direct selling industry.
That is, this study confirms that encouraging identification has not only been identified as a
good employee retention strategy.
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ARTICLE 5-
ARTICLE NAME- “ADAPTIVE” LEARNING AND “PROACTIVE” CUSTOMER
RELATIONSHIP MANAGEMENT
SOURCE- JOURNAL OF INTERACTIVE MARKETING
Published By- Wiley InterScience
Authors name- BAOHONG SUN: Associate Professor of Marketing, Carnegie Mellon University
SHIBO LI: Assistant Professor of Marketing, Kelley School of Business, Indiana University
CATHERINE ZHOU: Senior Manager of the Customer Insight Group, Accenture, Spear Street
Tower
Purpose: The purpose of the paper is to examine Adaptive learning and proactive learning in
customer relationship management.
Design/methodology/approach: transforming the relationships into greater profitability by
improving the effectiveness of CRM programs, increasing customer loyalty and purchase
probability, and lowering the cost of serving, thereby increasing profitability. Realizing the
increasing importance of customer orientation, companies from all types of industries are exploring
relationship building as a promising means of differentiation, competition, and revenue-growth
opportunities

Findings: Provide greater opportunities than ever before for today’s companies to establish and
sustain long-term relationships with their customer. Ideal CRM interventions should be customer-
centric by following the development of each individual customer and making multisegmented,
multistage, and multichannel CRM interventions with the goal of maximizing the total customer
profit; however, most recent CRM practices are still conveniently campaign-centric, in which the
focus is on selecting the most profitable customers for a scheduled CRM intervention.

Research limitations/implications: Despite the increasing investment in cross-selling efforts,

companies find that million-dollar marketing campaigns often fail to generate the responses
necessary to create revenue or even cover the cost of the campaign. Cross-selling companies are
challenged by how to improve effectiveness of a cross selling campaign in a cost-efficient way

Originality/value: the company to develop the right interventions for the right customer at the right
time through the right channel to meet the customer’s need. To achieve this, the company needs to
develop detailed customer knowledge, follow the development of each individual customer, and
adopt CRM interventions that are relevant to the status and preference of each individual customer.
These steps help build a stronger one-on-one relationship
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ARTICLE- 6
ARTICLE NAME- WHEN CUSTOMER RELATIONSHIP MANAGEMENT
MEETS DATA MINING
SOURCE- JOURNAL OF INTERACTIVE MARKETING
Published By- Wiley InterScience
Authors- VENKATESH SHANKAR Professor of Marketing & Coleman Chair in Marketing,
Mays Business School, Texas A&M University, College Station and RUSSELL S. WINER
Deputy Dean and William Joyce Professor of Marketing, Leonard N. Stern School of
Business, New York University
Purpose: The purpose of the paper is to examine the customer relationship management with
Data mining.
Design/methodology/approach: Data mining involves computational techniques drawn from
disciplines such as computer science and statistics. There is a natural fit between CRM and
data mining in that data mining techniques, when applied appropriately to the right data, can
be powerful
Findings: increases or decreases in usage rates can have differential effects on relationship
duration; the effects of customer service experience and service recovery on customer churn
differ across customers; and profits from models of customized marketing campaigns are
generally superior to those from uniform marketing offers

Originality/value- They propose a proportional hazard model with time-varying covariates

obtained from Web logs while controlling for initial purchase characteristics such as price and
billing frequency. A key finding from the application of their model to a subscription-based
online service is that usage rate has an asymmetric impact on relationship duration. Increasing
usage has a stronger effect on duration than that of decreasing usage.

Statistical tool: About $5.7 billion worth of CRM software was sold in 2005, and this figure
is expected to rise by a compound annual growth rate of about 11.2% until 2010. CRM can be
viewed as the business process in which customer equity (i.e., aggregate lifetime value of a
firm’s existing and potential customers) is continuously created, enhanced, and managed by
interacting with customers through multiple channels. Data mining has established itself as a
legitimate field of inquiry related to computer science, information management, and
marketing.
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ARTICLE- 7
Article Name-Customer relationship management at the base of the
pyramid: myth or reality?
Source- Journal of consumer Marketing
Publisher Name- Emerald Group Publishing Ltd.
Authors- Tendai Chikweche and Richard Fletcher, University of Western Sydney, Sydney,
Australia

Purpose – The purpose of this paper is to examine the use of customer relationship
management (CRM) at the bottom of the pyramid (BOP).
Design/methodology/approach – Qualitative interaction research methodology using case
studies was used to conduct the research on the application of CRM at the BOP.
Findings – The key findings show that at the BOP, CRM is a key strategic tool that can be
used by firms and can be facilitated by firms’ relationships and connections to consumers’
social networks.

Research limitations/implications – Replication of the study might be required in other BOP

markets, to improve generalizability using larger samples.
Practical implications – The study provides managers with insights into the importance of
CRM at the BOP and the need for proper planning and management in order for the concept
to be effective.
Originality/value – This research expands knowledge in the area by extending the research
context of the BOP to include Africa, and it proposes a framework that can be used for
implementing CRM at the BOP.

Understanding and serving the needs of these consumers represents a major challenge to
organisations. Particular doubts surround the feasibility of utilising business strategies that
have been successfully deployed in Western markets. Such uncertainties include customer
relationship management (CRM), with many scholars questioning its relevance and
applicability within BOP contexts. To date, studies of CRM have largely focused on Western
markets and a limited number of categories like service and finance. Other markets and
categories such as fast-moving consumer goods (FMCG) such as food and personal hygiene
products have attracted only token interest.
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Article- 8
Article Name- Personal interaction and customer relationship management
in project business
Authors name- Tuija Mainela, Pauliina Ulkuniemi
Source- Journal of Business and Industrial Marketing
Publisher Name- Emerald Group publishing ltd.
Purpose – The purpose of this paper is to examine the role of personal interaction in customer
relationship management in the project business.
Design/methodology/approach – The authors connect an extensive knowledge of personal
interactions in industrial business relationships with research on social interaction in the
project business to enrich their understanding of customer relationship management in that
business.
Findings – The study reveals two specific functions that connect personal interaction with
customer relationship management. These two functions explain the importance of personal
interaction and disclose the contents of interaction that should be considered in relationship
and project management. Furthermore, the authors illustrate how two situational factors
influence and are influenced by personal interaction.
Originality/value – The study suggests specific conceptualization of personal interaction as a
part of project business management.

Statistical tool- The primary empirical material used in the present study consists of 16
interviews with managers of the selected firms. The thematic interviews dealt with customer
relationship management and marketing of the supplier firms, in general. From Mining
Technology Plc., we have eight interviews (about eleven hours). The data related to
Engineering Services Plc. consists of 8 interviews (about nine hours).

An important suggestion is that personal interaction is a key determinant of customer

relationship management at both project and relationship levels. It is actually the personal
interaction that connects the two levels through two specific functions; presence and
expertise. The presence function originates from the need of the project firm to be close to the
customer and is actualized in constant, systematic and occasional interaction. The expertise
function originates from the specific capabilities and knowledge deployed to solve problems
on behalf of the customer. It manifests itself as industry, customer and project expertise.
Finally, it is suggested that these functions of personal interaction provide the means to
manage the discontinuity of relationships and uniqueness and complexity of the projects.
These are seen as creating specific challenges for the management of project business.
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Article-9
Article Name- An Exploratory Study of Implementation of Customer
Relationship Management Strategy
Authors- Aihie Osarenkhoe and Az-Eddine Bennani
Source- Business Process Management Journal
Publisher Name- Emerald Publishing Limited
Purpose — Attempts in the existing literature to link the components of a customer
relationship management (CRM) strategy to its implementation are insufficient. The purpose
of this paper is to provide insight into the essential component of CRM as well as the
implementation of CRM strategy.
Design/methodology/approach — A case study of CRM implementation at a big Swedish
corporation was conducted, with data collected from key informants at both the strategic and
operational levels using open-ended, face-to-face and telephone interviews. The empirical
investigations concentrated on the technical and cognitive factors required for the successful
implementation of a long-term CRM strategy.
Findings — Relationships are not just a tactical weapon, but also represent a different,
strategic approach to buyer-seller exchange, according to the findings. The findings also
reveal that executing a sustainable CRM strategy necessitates top management support and
commitment, consistent cross-functional communication, and required customer loyalty
training programmes for all workers.
Research Implications — The findings indicate that implementation efforts are successful
when sufficient top management support and accurate knowledge management capabilities
are in place, supported by an appropriate information technology infrastructure measured by
technological readiness.
Practical implications — CRM is a strategic business and process issue, not just a
technology solution, as is commonly thought in practise. The CRM process is a constant
learning process that transforms information about individual customers into customer
relationships.
Statistical Tools/Methods Used for Analysis — Inferential Statistical Analysis:
•Inferential statistical analysis is used to make inferences or draw conclusions about a larger
population based on findings from a sample group within it. It can help researchers to find
distinctions among groups present within a sample. Inferential statistics is also used to
validate generalizations made about a population from a sample due to its ability to account
for errors in conclusions made about a segment of a larger group.
•The data collection methods named above focused on the key components of customer
relationship extracted from the literature and their current use in the company in question.
• From the collected data, the authors have made inferences and have listed them in
detail under the ‘Findings’ section of the article.
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Article- 10
Article Name- The Customer Relationship Management Process
Authors- Werner Reinartz, Manfred Krafft, Wayne D. Hoyerand James L. and
Bayless/William S. Farish
Source- Journal of Marketing Research, American Marketing Association
Publisher Name- SAGE Publications
Purpose — The main objective of this research paper is to conceptualise and execute a metric
for determining how well CRM processes have been implemented. The functional and
organisational competencies required to perform effective and lucrative CRM activities are
specifically evaluated.
Design/methodology/approach — Data was gathered from both primary and secondary
sources to test their framework. First, in the fall of 2001, a cross-sectional survey was
undertaken in three countries: Austria, Germany, and Switzerland. Because business-to-
business connections are characterised by a small number of consumers and a high reliance on
salespeople as the primary means of communication between firms and clients, the
investigation was limited to consumer markets.
Findings — The findings highlight the essential characteristic that successful CRM
programme deployment involves more than simply technology, and organisations that focus
solely on this component are likely to be disappointed, at least in the short run. CRM
implementation success, in particular, necessitates a strong people-related component.
Research Implications — One of the primary goals of this research was to develop and
operationalize a measure of the three stages of CRM procedures. To identify important CRM
processes, an exhaustive search of the business press and academic literature was done,
supported by interviews with CRM experts. As a result, an attempt was made to record as
many current, relevant CRM activities as practical.
Practical implications — The study's findings have several major implications for managers.
The research presented here gives a systematic summary of the many CRM actions that take
place at each major stage. Thus, a company could utilise the methodologies discussed here to
identify important activities that must be done in order for the company to be successful, and
an evaluation of the activities can provide a means of comparing their level of implementation
to that of competitors and other industries.
Statistical Tools/Methods Used for Analysis — Associational Statistical Analysis using
SPSS
•Associational statistics is a tool researchers use to make predictions and find causation. They
use it to find relationships among multiple variables. It is also used to determine whether
researchers can make inferences and predictions about a data set from the characteristics of
another set of data.
•Associational statistics is the most advanced type of statistical analysis and requires
sophisticated software tools for performing high-level mathematical calculations. To measure
association, researchers use a wide range of coefficients of variation, including correlation
and regression analysis.
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RESEARCH PRObLEMS

 Effect of CRM implementation on important business performance

metrics, such as customer satisfaction, customer retention, and sales
growth.
 Studying the effect of four dimensions of CRM implementations i.e.,
focusing on key customers, organizing around CRM, managing knowledge
and incorporating CRM-based technology.
 Conceptualizing and execute a metric for determining how well CRM
processes have been implemented.
 Examining the role of personal interaction in customer relationship
management in the project business.
 Examining the use of customer relationship management (CRM) at the
bottom of the pyramid (BOP).
 Examining Adaptive learning and proactive learning in customer
relationship management.
 Knowing how companies manage their consumers’ identification to
compete effectively in intensely competitive marketplaces.
 Investigating the roles of three emotional factors (self-concept connection,
emotional attachment, and brand love) in the context of younger consumer
relationship management.
 Examining the customer relationship management with Data mining.
 Knowing the moderating effect of supply chain integration in leveraging
CRM applications.
 Leveraging internet data for improving crm.
 Knowing why million-dollar marketing companies often fail to generate
the responses necessary to create revenue.
 Knowing the value of CRM during marketing and product development.
 Finding out that is there any effect of CRM applications on customer
knowledge and customer satisfaction.
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RESEARCH GAPS
1. Time- One of the research gaps is time as most of the articles on CRM were published
before 2010 and there has been a huge gap and there has been huge change in whole
business ecosystem after 2010 so we can say data and the articles and all the results
related to research on CRM are outdated now as business environment is dynamic as it
changes with changing environment so one of the biggest research gaps is Time.

2. Area of Research- One of the other major research gaps is area of research because
mostly all the research on Crm has been done in marketing field/area or on finance and
brand marketing firms but there is no research of impact of CRM on Fintech firms or
technology firms and also there has been no research on impact of crm on small firms
and businesses so this has been a huge research gap in the field of CRM.

3. Geographical area- Geographical area is also one of the major research gaps in the
field of CRM because all the research on CRM was done in Developed nations/markets
only there has been no research done of impact of CRM on Developing
nations/markets mostly research of CRM has been done in China, US, European
countries, Japan and in Russia only so this doesn’t give clear picture of Impact of
CRM.in developing nations and this can be said as a huge research gap.

4. We can see there had been a research gap in terms role of emotional aspects of the
youngster and CRM. Till now there were not much research done taking youngsters as
the centre of research work. There had been much-generalized research regarding the
role of emotional aspects and CRM, but this research paper takes us through a new
dimension by including youngsters into the picture.

5. We can see there had been a research gap in this new field of Consumer-company
identification C-C identification which had been discovered in recent times through
these papers. This paper goes through active, selective, and volitional on consumers’
part and causes them to engage in favourable as well as potentially unfavourable
company-related behaviour.

6. In relationship management, each CRM intervention changes future customer

behaviour such as customer retention, purchase, and profitability. When making
decisions on which CRM intervention to choose, the company needs to take into
account the dynamic effect of each considered CRM intervention on future profit. Data
mining techniques are still passive learning unless they are modified to have the three
characteristics specified in the definition of adaptive learning. With the fast
development of off shore call centres, companies start to show increasing concern with
the placement of a key CRM asset in the hands of a third-party provider.

7. Attempts made in extant literature to define CRM have been varied. A theoretical
model on which future empirical analysis should be based when conceptualizing and
operationalising CRM should consist of a business strategy, a business philosophy and
a database application, thereby forming a tripod.
 16

IMPLICATIOnS fROM THE RESEARCH PAPERS On CRM

The future of CRM is bright. CRM will continue to report key data and give
insight for future action; however, leading experts see CRM evolving to measure
and inform sales enablement and customer engagement while playing a
tremendous role in the success of future business.
The best CRM technology today uses cloud-based, mobile-friendly, and AI-
optimized software. These features are increasingly the norm, not the future.
CRM already gives companies the ability to provide a personalized customer
experience.
The future of customer relationship management can be seen in a number of
ways, including increased adoption of CRM technology across enterprises,
deeper insights fuelled by expanding artificial intelligence, and more robust
customer data integration. Companies that invest in CRM will benefit from
having a single source of customer truth, as well as a way to uniformly support
the entirety of the customer lifecycle. For companies, the future of CRM
platforms will increasingly be its use as a single source of truth (SSOT), which
is the practice of aggregating the data from many systems within an organization
to a single location.” A company that uses a CRM platform as a single source of
truth allows it to connect employees, teams, departments, and even partners
around providing a cohesive customer experience.
CRM systems wear many hats, including channel management, customer
insights, communications, engagement, and more. They help improve customer
experiences and boost customer retention with ever-progressing data analytics
features. They have always been crucial for valuable customer insights for sales
and marketing teams to act on, with the shared goal of closing more deals.
Customers are fundamentally changing, and it goes beyond simple
demographics. There’s a change in how all customer segments across Business-
to-Business (B2B) and Business-to-Consumer (B2C) select who and why they
buy from one company or another, as well as when they buy. To harness that
information, you have to collect it — that’s where CRM comes in.
The dynamics of customer relationships are changing fast, with experiences
winning out over transactions and satisfaction usurping experience. CRM
systems need to change if they are going to meet customer-centric goals. They
need to have greater precision, focus on customer needs, quantify customer
behaviour and predict that behaviour. Additionally, today’s CRM systems
should suggest or recommend potential tactics and strategies to marketing and
sales team that deliver results.
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REfEREnCES
1. Customer Relationship Management: Its Dimensions and Effect on Customer
Outcomes, Frederick Hong-Kit Yim, Rolph E. Anderson and Srinivasan Swaminathan,
Taylor & Francis, Ltd, The Journal of Personal Selling and Sales Management, Fall,
2004, Vol. 24.
2. Why Do Customer Relationship Management Applications Affect Customer
Satisfaction? by Sunil Mithas, M. S. Krishnan and Claes Fornell, Sage Publications,
Inc. on behalf of American Marketing Association, Journal of Marketing, Oct., 2005,
Vol. 69, No. 4.
3. The role of emotional aspects of the youngster and consumer relationship
management by Jiyoung Hwang Hough Graduate School of Business, University of
Florida, Gainesville, Florida, USA, and Jay Kandampully Department of Consumer
Sciences, The Ohio State University, Columbus, Ohio, USA, Journal of Product &
Brand Management, Emerald Group Publishing Limited
4. The empirical study of CRM Consumer-company identification and purchase
intention in the direct selling industry by Wann-Yih Wu and Cheng-Hung Tsai
National Cheng Kung University, Tainan, Taiwan, International Journal of Commerce
and Management, Emerald Group Publishing Limited.
5. “Adaptive” Learning and “Proactive” Customer Relationship Management by
BAOHONG SUN: Associate Professor of Marketing, Carnegie Mellon University,
SHIBO LI: Assistant Professor of Marketing, Kelley School of Business, Indiana
University, CATHERINE ZHOU: Senior Manager of the Customer Insight Group,
Accenture, Spear Street Tower, JOURNAL OF INTERACTIVE MARKETING,
Wiley InterScience
6. When Customer Relationship Management meets Data Mining by- VENKATESH
SHANKAR Professor of Marketing & Coleman Chair in Marketing, Mays Business
School, Texas A&M University, College Station and RUSSELL S. WINER Deputy
Dean and William Joyce Professor of Marketing, Leonard N. Stern School of
Business, New York University, JOURNAL OF INTERACTIVE MARKETING,
Wiley InterScience
7. Customer relationship management at the base of the pyramid: myth or reality? by
Tendai Chikweche and Richard Fletcher, University of Western Sydney, Sydney,
Australia, Journal of consumer Marketing, Emerald Group Publishing Ltd.
8. Personal interaction and customer relationship management in project business by
Tuija Mainela, Pauliina Ulkuniemi, Journal of Business and Industrial Marketing,
Emerald Group publishing ltd.
9. An Exploratory Study of Implementation of Customer Relationship Management
Strategy by Aihie Osarenkhoe and Az-Eddine Bennani, Business Process
Management Journal, Emerald Publishing Limited
10. The Customer Relationship Management Process by Werner Reinartz, Manfred
Krafft, Wayne D. Hoyerand James L. and Bayless/William S. Farish, Journal of
Marketing Research, American Marketing Association, SAGE Publications.