Table of Contents
Rational for this Study
What is The Research Issue
Why is it an issue?
What is It an Issue now?
What could this research shed light on?
Table of Contents
Rationale of this study:
Customer relationship management:
Types of CRM programs:
Summary of Literature review:
Type of Investigation
Data Collection Method
Data analysis and representation
Customer Relationship Management is becoming an integral part of modern business organization. Nowadays almost all business organizations uses customer relationship management. CRM strategies has changed business operation radically. Now customers are the center of all business activities; focus has been shifted from transactional approach to relationship marketing approach (Cunningham, 2002). Marketers has understood the fact that, to compete in the market they have retain customers since attracting new customer is 6 times more expensive that retaining one.
Customers have more and more options to compare products of different companies simply staying at home. Marketing is so easy that, customers can compare products and but it within few minutes. Therefore, it is a major challenge for business to satisfy them and retain them for longer period. Studies said that around 58% new customers of a bank leave the organization within just two years. In automobile industry, a study found that, even after 90% customers are satisfied with the vehicle, less than 60% customers will consider purchasing another vehicle from that brand (Bera.ac.uk, 2014).
Internet has changed the theme of business and ways of conducting activities. Web is now facilitating both sales and marketing by redefining shopping patterns and behaviour of customers. Internet based business is now billions of dollars business where both business to business and business to customer business is flourishing (Sheehan, 2011). It has opened up new dimensions, creates opportunities for new businesses, and provides strengths to established companies to tighten their grip on market through technological superiority.
Companies who use internet marketing are more likely to draw more customers’ attention. It can be noted that, massive growth of internet marketing increases expectations of service quality. Customers have the options to browse more websites before making purchasing decisions. So, companies require continuous improvement of its customer relationship management internet marketing to get better position in the market over its customers.