CRM Typologies Conundrum

Author(s)

Tejas Yaduvanshi and Alok Kumar Rai

Affiliations

Institute of Management Studies (FMS), BHU, Varanasi, Uttar Pradesh

Abstract

Businesses have always been in a constant race to keep the current customers and poach the new ones, which is portrayed by the requirement for understanding customers more intently and respond to their desires unequivocally. One of the many sets of tools aimed at aiding the exchange between business and customer is Customer Relationship Management and its typologies, which can help the organization to build individual relationships with customers in such a way that both parties get the most out of the exchange. Customer Relationship Management (CRM) functions as a set of practices that facilitates customer centricity and long-term business perspectives. CRM practices encompass four different but inter-related typologies; strategic, operational, analytical and collaborative. The paper aims to explore the typologies that host the cross-functional process of Customer Relationship Management (CRM) and attempts to propose a framework for the same underlying typology’s context.Abstract

Businesses have always been in a constant race to keep the current customers and poach the new ones, which is portrayed by the requirement for understanding customers more intently and respond to their desires unequivocally. One of the many sets of tools aimed at aiding the exchange between business and customer is Customer Relationship Management and its typologies, which can help the organization to build individual relationships with customers in such a way that both parties get the most out of the exchange. Customer Relationship Management (CRM) functions as a set of practices that facilitates customer centricity and long-term business perspectives. CRM practices encompass four different but inter-related typologies; strategic, operational, analytical and collaborative. The paper aims to explore the typologies that host the cross-functional process of Customer Relationship Management (CRM) and attempts to propose a framework for the same underlying typology’s context.

Keywords

Customer Relationship Management (CRM), Typologies, Framework, Strategic, Operational, Analytical and Collaborative

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