Customer Relationship Management (CRM) - A Global Perspective

Running head: CRM
CRM
Name of the Student
Name of the University
Author Note

1CRM
Executive Summary
The given report throws light on the concept of CRM around the globe. CRM is a software
which is generally used by the firms in order to engage in stronger relationships. The report
follows a structured format whereby the different aspects relating to the CRM software will be
discussed and the condition of CRM in Russia has been discussed. A conclusion summarizes the
findings of the analysis.

2CRM
Table of Contents
Introduction......................................................................................................................................3
Answer to Question 1......................................................................................................................3
Answer to Question 2......................................................................................................................4
Answer to Question 3......................................................................................................................5
Answer to Question 4......................................................................................................................7
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

3CRM
Introduction
Customer Relationship Management can be defined as an approach which is adopted by
the organization in order to interact easily with the different customers and to analyse the data
with respect to the customer`s interaction earlier. In the given technology, the company makes
uses of various technologies in order to maintain a sustained relationship with the customers with
the ultimate focus being on the retention of the customers and driving the growth of sales
(Kumar and Reinartz). The given report will be discussing the various aspects of the case study
and analyse the same.
Answer to Question 1
With basic changes in the structure of the government, the economy of Russia has
changed considerably. The economy of Russia has become a market based economy and this has
been able to open the doors of the country to various investments and foreign capital
opportunities (Trainor et al.). This has given rise to different facets of the economy and hence, a
good Customer Relationship Management software will be able to benefit the company in a huge
way and using the Customer relationship Management tool will be able to assist the company to
not only interact with the existing customers, but also go a long way in helping the other prospect
customers (Koegler et al.). CRM not only helps in learning the customer`s needs but also
analysing their wants as well as expectations. The acquisition and retention of the customers has
various positive impacts on the firm including an increase in the profitability of the organization
(Khodakarami and Chan). Hence, the firm should be able to apply a good CRM technique and
follow a strategy.