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Customer Relationship Management as a Strategy

In the digital economy of the 21st century, the focus of production efficiency and product differentiation is shifted to value creation and relationship management. Customer relationship management is a critical business strategy in gaining competitive advantages.As we move from the industrial economy to the digital economy enabled by globalization and the Internet, the focus of production efficiency and product differentiation is shifted to value creation through relationship management.

Customer relationship management (CRM) has become a critical business strategy.CRM as a comprehensive set of processes and technologies for managing the relationships with potential and current customers and business partners across marketing, sales, and service regardless of the communication channel. CRM strategies have evolved from sales force automation, customer service centers, customer segmentation and target marketing to real-time sense and response. Persistent and contemporary CRM strategies that reflect the ubiquity of the Internet and the real-time demands of the global market are required for companies to compete in the digital economy.

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