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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. [1]
Relationship marketing is a form of marketing developed from direct response marketing campaigns that emphasizes customer retention and satisfaction rather than sales transactions. [ 1 ][ 2 ] It differentiates from other forms of marketing in that it recognises the long-term value of customer relationships and extends communication beyond intrusive advertising and sales promotional messages ...
Customer lifetime value can also be defined as the monetary value of a customer relationship, based on the present value of the projected future cash flows from the customer relationship. [1] Customer lifetime value is an important concept in that it encourages firms to shift their focus from quarterly profits to the long-term health of their customer relationships. Customer lifetime value is ...
Customer success, customer success management, or client advocacy is a business strategy aimed at ensuring that customers achieve their desired outcomes while using a product or service. It involves proactive engagement, personalized support, and ongoing assistance to help customers derive maximum value from their investments, and refers to the ...
eCRM. The eCRM or electronic customer relationship management coined by Oscar Gomes encompasses all standard CRM functions with the use of the net environment i.e., intranet, extranet and internet. Electronic CRM concerns all forms of managing relationships with customers through the use of information technology (IT).
The notion that customer capital is separate from human and structural capital indicates its central importance to an organization's worth. The relationship with customers is distinct from other relationships either within or outside an organization. Relational Capital or Customer Capital is the strength and loyalty of customer relationships ...
Market orientation: Some consideration of customer needs and segmentation arises, developing different marketing mix bundles for each one. Customer experience: Adding to the other two factors some recognition of the importance of providing an emotionally positive experience to customers. Authenticity: This is the most mature stage for companies.
The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. [2][3] It offers a visual chart with elements describing a firm's or product's value proposition, [4] infrastructure, customers, and finances, [1] assisting businesses to align their activities by illustrating potential trade-offs.
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