What is Customer Satisfaction ?
February 12, 2025
People love shopping at International Retail Malls and Stores. Weekends are often spent with family and friends shopping and spending entire day out at the malls. The Stores are designed to attract, entertain and engage the consumers. Therefore the Stores are designed, keeping in mind the visibility aspect as well as ease of use for […]
Various marketing intermediaries are used in transferring the products from the hands of producers to the final consumers or industrial users. These marketing intermediaries carry alternate names such as wholesalers, distributors, retailers, franchised dealers, jobbers, authorised dealers and agents. Such marketing intermediaries compromise the distribution channel. These distribution channels minimize the gap between point of […]
International Retailing industry though global originated and developed in Europe and US. Europe has been always been the harbinger of changes and evolution of Supply chain models operating in International Retailing as well as FMCG and other retail industries as well as automobile industry too. When the retail industry was ridden with problems faced in […]
No one would have ever imagined fifty years ago that the service sector would become a major contributor to the economy world over. Surprising but true, that in America as well as in India or in UK, service industry has grown beyond our imagination and continues to grow. Globalization and the advancement of technology has […]
The responses can be provided through any of the following media: Face to Face Interaction – Face to face interaction is the most efficient medium and provides the probability to judge the emotions and body language of the respondent. When a customer visits the supplier’s premises and supplier receives him respectfully and spends some time […]
CRM originated in early 1970s when the business units had a manifestation that it would be advisable to become ‘customer emphatic’ rather that ‘product emphatic’. Birth of CRM was because of this heedful perceptiveness.
The famous writer and management consultant Peter Drucker wrote; ‘The true business of every company is to make and keep customers’. Traditionally every transaction was on paper and dependent on goodwill which created hindrance in clutching customers. People used to work hard in entertaining customers by presenting new products with astonishing services; they were ready to work overtime for grasping more and more customers for increasing business. This too resulted in customer satisfaction and loyalty up to some extent, but at the end of the day there was no such bonding or relation between the two to carry on with future business smoothly.
Previously business was quite easy as it was mere a one-to-one dealing without any specific process. But with time, due to incoming complexities in communication, it found itself in troubled waters. Emerging of new strategies and technologies in global marketplace and a mammoth degree of competition in business, the approach needed to be changed to proactive rather than reactive. Origination of CRM turned out to be a piece of cake for all suppliers and customers due to its advantages. Customer relationship management came as a process that dealt with relationships with customers surpassing the whole business.
Originally customer relationship management was based on three major principles; shielding the current customers, fostering new customers and enhancing asset value of all the customers. With the advent of CRM which was integrated with high end software and technology, business perspectives were totally changed. A CRM system eventually emerged as consisting of company-full of information which is depicted sophistically to increase business profit and meliorate customer satisfaction and loyalty, on the same hand reduces business cost and investment.
The outgrowth in origin of CRM as a strategic approach is a result of some of the following important perspectives:
These additive approaches helped a lot in building up consequently the modern CRM. Today we have well defined and sophisticated CRM systems into being which are always in process of improvement.
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