Customer Relationship Management and its Role in Building Brand Equity and Loyalty

Running head: CUSTOMER RELATIONSHIP MANAGEMENT
Customer relationship management
Nam of the Student
Name of the University
Author’s Note

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Table of Contents
1. Literature review....................................................................................................................2
2. Research aim and research question......................................................................................5
2.1 Research aim....................................................................................................................5
2.2 Research question........................................................................................................5
3. Research plan.........................................................................................................................5
3.1 Overview of the proposed methods of data collection and data analysis........................5
3.2 Gantt chart schedule.........................................................................................................6
References..................................................................................................................................9

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1. Literature review
CRM is considered as one of the newest innovations that helps the management as
well as staffs of the customer service to cope up with the concerns and issues of customers
(Nyadzayo and Khajehzadeh, 2016). The CRM system is helpful in gathering the data of the
customers that is further utilized in order to provide proper facility of customer service by
making the information which is required for resolving the issues of the customers. On the
other hand, it is stated by Gurhan-Canli, Hayran and Sarial-Abi (2016) that brand equity is
considered as an intangible asset which is mainly built by the different companies in order to
create awareness by having clear identity as well as consistent communication in order to
promote the brand.
It is opined by Heding, Knudtzen and Bjerre (2015) that in order to build a brand
equity that lies with the relation which is mainly developed between the mainly sells different
various consumers as well as company that generally sells different types of products as well
as services under the brand name. It is found that that consumer who generally prefers proper
brand and mainly wants to select the brand over others are primary dependent on the
perception as well as value of the entire brand. On the other hand, it is stated by Wang and
Sengupta (2016) that for providing benefit to the consumers with the help of branding, it is
quite important to strive to earn as well as maintain the loyalty of the brand. It is found that
the building of the brand mainly needs to gain proper recognition of the product and the
buyers are convinced for accepting the brand. In addition to this, name awareness is
considered as one of the critical factors that help in achieving the success of the brand. The
companies spend huge amount of money for attaining the brand recognition. However,
getting the customers to properly recognize the brand with the help of the CRM system is
considered as half the battle for building proper brand equity. It is very much significant for

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the entire company to effectively establish positive as well as important associated with the
brand.
According to Yoganathan, Jebarajakirthy and Thaichon (2015), customer
involvements as well as joint problem-solving strategies are helpful in driving the brand
equity. It is quite important for the entire companies to focus on new measure that helps in
reflecting the importance of customer relationships. The new value is considered as customer
equity and the different types of contribution that it makes are helpful in making the future
growth prospects. It is opined by Moliner et al. (2018) that although equity of the brand is not
difficult, it is helpful in providing the managers with good indication bout the future
profitability of the company. It is identified that the companies mainly need to develop proper
measures about brand equity which is considered as one of the early warning indicator that s
likely to get better feel of the dangers.
It is opined by Chekalina, Fuchs and Lexhagen (2018) that CRM software helps in
giving proper insights into customer as well as business relations by properly tracking all
communications that is made between companies. The data helps in allowing proper business
for finding an exact proper ways for helping a customer which helps with social proof and
further helps in making the brand stronger. The main focus of each and every organization is
to create log lasting relationships with the customers by implementing a CRM that will
helpful in making the customers loyal towards the brand that they utilize. It is stated by
Chekalina, Fuchs and Lexhagen (2018) that most of the companies mainly predominant on
attracting new clients as well as leads that is fine in catering the people who are already the
customers in order to keep in touch.
According to Godey et al. (2016), compiling data about the requirements of the
customers is considered as one of the important factor that helps in making the customers