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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 ...
The Business Model Canvas is a strategic management template used for developing new business models and documenting existing ones. It offers a visual chart with elements describing a firm's or product's value proposition, infrastructure, customers, and finances, assisting businesses to align their activities by illustrating potential trade-offs.
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 ...
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 ...
eCRM can be defined as activities to manage customer relationships by using the Internet, web browsers or other electronic touch points . The challenge hereby is to offer communication and information on the right topic, in the right amount, and at the right time that fits the customer's specific needs.
Customer intelligence is a key component of effective customer relationship management (CRM), and when effectively implemented it is a rich source of insight into the behaviour and experience of a company's customer base. As an example, some customers walk into a store and walk out without buying anything.
Sales activities involve many different types of customer relationships - from simple transactional exchange through to long-term, enduring customer relationships. Needs, wants and demands. Marketers typically begin planning with a detailed understanding of customer needs and wants.
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