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ROGER BARAN; CHRISTOPHER; MICHAEL ZERRES CUSTOMER RELATIONSHIP MANAGEMENT DOWNLOAD FREE TEXTBOOKS AT BOOKBOON.COM NO REGISTRATION NEEDED Customer Relationship Management History and theory Customer Relationship Management Roger Baran, DePaul University, Chicago Christopher Zerres, Universität Kassel Michael Zerres, Universität Hamburg 1. History and theory Customer Relationship Management (CRM) is growing in importance due to the challenging business environment faced by organizations throughout the world today. It is particularly critical in industries undergoing changes in traditional channel configuration. CRM is a means of addressing increasing competition, changing economic conditions and promotional dependence through the use of intimate customer knowledge; knowledge gained through relationship development and past marketing pro- grams. CRM is increasing in prominence because it focuses on current users who are the source of the majority of business revenue and the best option for improving business in uncertain times. There are a number of working definitions for CRM. In fact the letters CRM have been used to iden- tify Continuous Relationship Marketing, Customer Relationship Marketing and Customer Relationship Management. Each term represents the same process. CRM can be defined as a process that maxi- mizes customer value through on-going marketing activity founded on intimate customer knowledge established through collection, management and leverage of customer information and contact history. CRM is about perfecting relationships to maximize a customer’s value over time. what‘s missing in this equation? t r e v d a e h t k c i l c e s You could be one of our future talents a e l P
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