CRM: Building Long Lasting Customer Relationships

  Dr. Priyanka Rawal,  Dr. Shekhar Upadhayay

For any company the most important part of their business is its customers and by building good relationships with them they are encouraged to keep coming back. They will even suggest your business offerings to their friends and hence listening to your customers is vital. Companies are increasingly focused on building and managing customer relationships, the customer asset, or customer equity. Companies today are making strategic moves to effectively cultivate customer relationships and develop customer portfolios that increase shareholder value in the long run. Customer retention is the key to get profits for the firm and thus managers should have programs and strategies which are ongoing efforts for expanding their customer base as and when required. Customers are the asset for any company and they should be well nurtured so that they reap benefits for the firm eventually. Relationship marketing is the need of the hour where emotions play a vital role in keeping the profitable customers intact so that they regularly bring revenues for survival of any organization. Customer relationship management is now a central part of a company’s strategy, and the inputs given by CRM activities should be actively considered in decision making at various organizational levels, for the management of value creation, along with the allocation of resources.

Keywords- Keywords: Customer asset, Customer equity, Customer retention, Value, CRM.

Unique Identification Number - IJEDR1703188
Page Number(s) - 1277-1286
Pubished in - Volume 5 | Issue 3 | September 2017
DOI (Digital Object Identifier) -   
Publisher - IJEDR (ISSN - 2321-9939)

  Dr. Priyanka Rawal,  Dr. Shekhar Upadhayay,   "CRM: Building Long Lasting Customer Relationships", International Journal of Engineering Development and Research (IJEDR), ISSN:2321-9939, Volume.5, Issue 3, pp.1277-1286, September 2017, Available at :http://www.ijedr.org/papers/IJEDR1703188.pdf