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Customer Relationship Management in IT & Entrepreneurship

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Added on  2020-05-28

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The Customer Relationship Manager should focus on developing the relationship, as customers are the one who can run the business effectively and efficiently. They should understand that purchase behaviour depends upon the satisfaction of customer needs and ability to communicate to demonstrate the products and service, which can fulfill the needs of the target customers. The Customer Relationship Manager should adopt the Information Space theory, which exceeds customer expectations and maintain the lead sharing capabilities and increases business communication with customers.

Customer Relationship Management in IT & Entrepreneurship

   Added on 2020-05-28

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Running Head: IT & Entrepreneurship0IT & Entrepreneurship
Customer Relationship Management in IT & Entrepreneurship_1
IT & Entrepreneurship1ContentsCoursework 1........................................................................................................................................2Introduction...........................................................................................................................................2References.............................................................................................................................................8
Customer Relationship Management in IT & Entrepreneurship_2
IT & Entrepreneurship2Coursework 1IntroductionA good relationship between a customer and organization generates greater customersatisfaction. The Customer Relationship Manager should focus on developing therelationship, as customers are the one who can run the business effectively and efficiently.They are capable of enhancing customer satisfaction and generate a competitive advantage toattract them. They should find a better way to interact and communicate with customers.They can use electronic Customer Relationship Management (eCRM) to manage the needsand preferences of the customer. Since the competition between organizations is increasing ata fast pace in order to meet the customer demands. It permits employees to understand theneeds of the customer and forecast to improve future profitability (Al Saifi, Dillon andMcQueen, 2016). This also increases the interaction level by attractive prospectivecustomers. In the following, an effort has been made to discuss the issues concerning CRM tomaintain the relationship between customer and organization. Identification of the problemThe Customer Relationship Manager should focus on developing mutually satisfying long-term relationships with key partners, in order to motivate customers and retain the business. Itdoes not usually provoke inspiration, maintain profitable customers, and generate loyaltyamong customers. They should understand that purchase behaviour depends upon thesatisfaction of customer needs and ability to communicate to demonstrate the products andservice, which can fulfill the needs of the target customers. They need to build their strategyto focus on relationship management of its customers in order to reach the maximumcustomer satisfaction. It plays an important factor in business processes, strategies, andinformation technology, which allow organizations to evaluate customer data promptly. Theutilization of IT plays a significant role to offer products and services and assist the multipleelectronic channels to communicate with their customers (Hsiao, Lee and Chen, 2015). Their main objective is to collect data and information from customers and match withspecific needs. They should help an organization to allow a marketing department to targettheir prospective customers, develop marketing campaigns with clear-cut objectives andpurposes, and generates leads for the sales team. They should assist the institutions to
Customer Relationship Management in IT & Entrepreneurship_3
IT & Entrepreneurship3increase account, telesales, and sales management by enhancing information and streamliningmethods (Chepurna and Rialp Criado, 2018).The Customer Relationship Manager should adopt the Information Space theory, whichexceeds customer expectations and maintain the lead sharing capabilities and increasesbusiness communication with customers. They should execute an effective CRM solution thatwill fulfill the organization needs and improve CRM modules to safeguard that is operatingeffectively and efficiently. They suggest a Social Learning Cycle that utilizes the concept ofthe dynamic flow of knowledge through a series of six stages: (Ispaceinstitute, 2018)Scanning: - It this stage, perception are attained from available information and data. Problem-solving: - The Customer Relationship Manager should solve the problem bygiving structure to these insights.Abstraction: - They should generalize to a varied range of situations to develop arelationship with customers. Diffusion: - They should take care of new understandings, which are shared withtarget customers so that needs be fulfilled.Absorption: - They should identify the new understanding, which is applied to avariety of situations generating new learning experiences.Influencing - It affects the employees’ knowledge, capability, and understanding(Salichos, Stamatakis and Rokas, 2014).
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