Research-based CRM - lessons learned and new directions

The growth of Customer Relationship Management (CRM) has been dramatic, yet the CRM opportunity is rarely fully exploited.

Researchbased CRM

Lessons learned and new directions

Professor Merlin StoneSurrey University and IBM UKSharon ReesNFO Financial Services andProfessor Clive NancarrowBristol Business School, UWE

Introduction

CRM What is it?

Customer Relationship Management (CRM) should be the application of a genuinely customeroriented model of marketing by an organisation, focusing on understanding and relating to the customer as a means to improve customer satisfaction, loyalty, and profit.

NOTE: Throughout this paper, we use the term 'customer' to include both B2B buyers and consumers. Many consumer marketing companies, for example Seagram and Tesco, have implemented direct marketing...

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