Phase 4 Individual Project Essay Example | Topics and Well Written Essays - 1500 words - 1

Phase 4 Individual jut out - Essay ExampleCustomer relationship counselling is broadly defined as a ride through which a company manages its interaction with customers, both current and potential (Kumar & Reinartz, 2012). With the development of technology, the model has interconnected technology and has made it easier and efficient for solids to automate, organize, and synchronize marketing, sales, technical support and customer service. Buttle (2012) states, customer relationship management is the major function of an organizational strategy that combines the internal functions and process, and external networks, to name and offer value to come in market at a profit. (Buttle, 2012) Greenberg (2004) defined CRM as a philosophy and a profession strategy, back up by a system and technology, designed to improve human interactions in a business environment. (Greenberg, 2004) reproduction good relations with customers is very inhering for any business that wants to survive and achieve profitability. Customers form the nightclub in which the business operates, hence, they determine to a great extent the performance of the company. They are kings in business and therefore should be treated with utmost care and respect. A good customer relationship is hearty for an organization in that it makes consumers develop confidence in the organization and improves their perception on the capability and competency of the business (Kumar & Reinartz, 2012). This eventually creates customer loyalty leading to customer retention. As a result, the company leave behind be in a position to increase its revenues due to the favorable market. According to previous researches, it has been order that it is easier to retain a customer than to attract a new customer. This therefore underlines the importance of a firm to foster good relations with its customer in order to retain them. The main objective of CRM is to create a continuous mutual business relationship with current and potential customers in order to answer an organization achieve competitive advantage as it also creates value for the customers (Microsoft Dynamics, 2009). According to Nordic discipline of thought, in order for an organization to have an effective CRM, knowledge of how to develop customer value and raise the degree of customer satisfaction is necessary. This school of thought tries to explain the importance of relationship marketing surmisal and acknowledges the value and importance of such relationship to the business and the customers. It also notes the crucial role played by customers and suggests that customer service should be joined with marketing (Buttle, 2012). According to Morgan and Hunt (1994), customer trust is essential in having a successful customer relationship. Customers trust in the business comes up as a result of an assurance that the organization will perform certain activities that will benefit them. Anderson and Narus (1990) state that it is clayey t o break a trustworthy relationship even if one party is negatively affected by the deeds of the other, trust can still be restored. In order to build customer trust, a firm should ensure there is consistency in its actions. It should ensure that products and services have the right character reference at all times and meet the customers needs. In addition, goods and services should be availed at the right put in and time. There should be no cases of goods shortages in the market (Kamakura, et al., 2005). One of