Customer Relationship Management...

Customer Relationship Management If an organization cannot meet the expectations of its customers then it will struggle to survive. Ideally the organization should exceed the expectations to maximize the customer satisfaction level of its customers, and also the credibility of its products and services in the eyes of its customers. Customers usually become delighted when the organization under promises and over delivers. Over promise and under delivery results into the customers becoming unsatisfied. Customer relation management (CRM) is the prescription to keep the customers happy and satisfied. CRM is an essential part of modern business management. It is that part of the system in the organization which deals with the relationship between the organization and its customers. It is the set of those processes which manages organization’s interactions with current and future customers. CRM entails all aspects of the interaction that the organization must have with its customer, whether it is sales, marketing, feedback or customer service related, and technical support.  These four main components of the CRM is shown in Fig 1. Fig 1 Main component of CRM Customers are the lifeline of any organization, be it a large multinational corporation with several thousands of employees, with multi location and with a multibillion turnover, or a small scale industry with a few employees and a small number of customers. CRM involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support. The processes of the CRM are related to the principles, practices, and guidelines that the organization follows when interacting with its customers. Efficient customer relationships are at the heart of business success. From the organization’s point of view, this entire relationship not only encompasses the direct interaction aspect, such as sales and/or service related processes, but also in the...