Unlike previous times, these days’ customers have many choices and they have become very particular about the place and company they are going to choose for dealing in their requirements. Today, there are plethora of products available to consumers and that too from hundreds of companies. It has also become increasingly difficult to differentiate in quality between same category products offered by companies. In earlier times, consumers did not have many choices and they had very little choice but to choose whatever companies used to offer. But, in the era of globalization, Customers have the option of going for best of the lot from all over the world. It’s not for nothing that customers are said to be the king today. Now, customers don’t hesitate in looking for other options in case they are not pleased with the services offered.
Customer relationship management is basically aimed at maximizing profitability by implementing various customer centric strategies. It helps businesses to distinguish themselves amongst its peers. CRM is nothing but grand total of all the deployed methodologies covering all the functions of business including marketing, sales, customer service, human resource management etc. It is instrumental in coalescing consumer’s faithfulness, enhancing revenues, reducing costs on the whole, superior cross-selling prospects and reorganization inter-related business process by having a holistic approach.
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