Sample Term Paper
Customer Relationship Management (CRM) is the approach and the process that an organization chooses to adopt and implement in order to maintain customer loyalty amongst current customers and to attract in prospective customers.
Purpose of CRM
CRM strategies are designed to build upon current customers and to ensure that they remain loyal to the manufacturer, as well as determining possible new markets and taking advantage of them (Calkins 2005). Thanks to Information Technology, CRM software is more than often regarded as the latest innovation in this field of business. However it is necessary to understand that several CRM strategies have failed where CRM software was the only tool used in the development of the CRM strategy.
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