Important Customer Relationship Management - Myassignmenthelp.Com

Question: Discuss about the ImportantCustomer Relationship Management. Answer: According to the article, the history and the theory of CRM stated that it is an important phenomenon that is being undertaken by the organizations for adding a value to the customer relations. It helps in retaining the brand loyalty among the consumers and thereby results to the progress made by the organizations in their respective line of business. The article also addresses the chief concept of the CRM, which is based on perfecting the relationship of the organization with their respective consumers for adding up value over time. It helps the organizations in making a note of the increasing requirements of the people and thereby brings in modifications in their respective systems to retain their consumers. The history of the evolution of the CRM dates back to the initiative that was undertaken by the organizations based on improving the status of their enterprise through the application of the Enterprise Resource Planning (ERP) in the year 1990. The concept has helped in undertaking the considerable changes in the structure of the organizations based on the requirements of the clients. The system has benefitted through the proper centralizing, standardizing and organizing information for the benefits of the organization. Supported by new and advanced tools, the CRM has enabled data management and the utilization of disparate sources of data work as in single integrated database. The field concerns and the data collection facilitated by the CRM is being introduced through the article. Customer Data Integration (CDI) helps in the perfect functioning of the CRM through the determination of the data based on the touch points of the customer information. It integrates the data for the better understanding of the requirements of the consumers, which helps the organizations in bringing in modifications based on the needs. the sales made by the organizations are facilitated by the numerous ways in which the data of the customer can be reviewed by the organization. The varied steps applied through the CDI, the organization understand the varied requirements of the people. The need for change that is being felt by the organizations based on the change of the requirements of the consumers has helped the organizations in making their progress in the market. it also helps in supplementing the consumers with their queries based on the price and the products that is being provided by the organization. Therefore, the proper functioning of the CRM is a necessity for the organizations for bringing in the required change in their systems. The article also takes steps to understand and determine the issues based on the utilization of the CRM. CRM is an useful tool in determining the information about the consumers. It helps the organizations in bringing in improvements in their respective systems based on the requirements of the people. However, there are cases where the consumer information might get compromised, to which the organizations are required to take steps based on the data safety and privacy measures. It helps in retaining the trust of the consumers towards the brand or the organization. The enhanced communication through the CRM helps the organizations in identifying the requirements of the consumers and thereby brings in modifications to their systems for reaching out to their consumers. The article through its critical discussion on the effectiveness of the CRM has also stated the future of the CRM and its sustenance in the market. The system related issues with the implementation of the CRM has affected the growth of most of the companies recently. Therefore, many companies feel unsafe with the usage of the CRM in their systems. On the other hand, the implementation of the CRM has not only affected the growth of the companies in the system related factors but also affected the revenues that are being created by the companies as a whole. The question of the survival of the system is based on the principles of the organizations and the objectives and goals of the companies.