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v. t. e. 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] CRM systems compile data from a range of different communication channels, including a company's website, telephone (which ...
Customer profitability ( CP) is the profit the firm makes from serving a customer or customer group over a specified period of time, specifically the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler, "a profitable customer is a person, household ...
However, since communications is the central aspect of customer relations activities, many opt for the following definition of mCRM: "communication, either one-way or interactive, which is related to sales, marketing and customer service activities conducted through mobile medium for the purpose of building and maintaining customer ...
Brand relationship. A consumer-brand relationship, also known as brand relationship, is the relationship that consumers think, feel, and have with a product or company brand (Fournier, 1998; Veloutsou, 2007). For more than half a century, scholarship has been generated to help managers and stakeholders understand how to drive favorable brand ...
Customer relationship management. According to Das (2007), customer relationship management (CRM) is the "establishment, development, maintenance and optimization of long-term mutually valuable relationships between consumers and organizations". The official definition of CRM by the Customer Relationship Management Research Center is "a ...
In sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product, or an idea, obtained from a seller, vendor, or supplier via a financial transaction or an exchange for money or some other valuable consideration. [1] [2]
Customer engagement is an interaction between an external consumer/customer (either B2C or B2B) and an organization (company or brand) through various online or offline channels. [citation needed] According to Hollebeek, Srivastava and Chen (2019, p. 166) S-D logic-Definition of customer engagement is "a customer’s motivationally driven ...
Customer analytics. Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing, site selection, and customer relationship management. Marketing provides services to satisfy customers ...