What is Customer Satisfaction ?
February 12, 2025
A set-up where two or more parties (also called buyers and sellers) are engaged in transaction of goods and services in exchange of money is called a market. At the market place the sellers sell their goods to the consumers (buyers) in exchange of money. Let us go through the following examples: Nokia offers wide […]
From the Era of Abundance to the Era of Scarcity The era of abundance is over and we are entering an era of scarcity. Right from oil and minerals to water and food, every resource that we have used to power and drive our civilization to modernity and progress is in decline. This means that […]
There are mainly 4 methods by which we can collect data through the Survey Method Telephonic Interview Personal Interview Mail Interview Electronic Interview Telephonic Interview Telephone Interviewing stands out as the best method for gathering quickly needed information. Responses are collected from the respondents by the researcher on telephone. Advantages of Telephonic Interview It is […]
Introduction Samsung is a global conglomerate that operates in the “White Goods” market or the market for consumer appliances and gadgets. The company that is a South Korean family owned business has global aspirations and as the recent expansion into newer markets has shown, Samsung is not content with operating in some markets in the […]
With the advent of globalization, marketers have had the opportunity to market to a global audience from many countries and cultures. Products are no longer the traditional goods and services and instead the emphasis is on brand building and marketing brands as part of a comprehensive marketing effort to reach out to consumers. In this […]
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.
Your email address will not be published. Required fields are marked *