Chapter 1: Introduction to CRM
1. Definitions of CRM?
-CRM is an information industry term for methodologies, software, and usually internet capabilities that
help an enterprise manage customer relationships in an organized way
-CRM is a business strategy that maximizes profitability, revenue a...
8. CRM Metrics: Cost to Serve, Satisfaction, Loyalty, Social Costs
, 5. Paynes and Frow’s 5-process model
o Strategy development process (strategic CRM)
♣ Business strategy
♣ Customer strategy
o Value creation process (strategic CRM)
♣ Value customer receives
o Multichannel integration process (operational CRM)
o Performance assessment process
♣ Shareholder results
♣ Performance monitoring
o Information management process (analytical CRM)
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