Customer Relationship Management (CRM)
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CRM from the Information Technology Perspective.
From the technology perspective, companies often
buy into software that will help to achieve their
business goals. For many, CRM is far more than a new
software package, the renaming of traditional
customer services, or an IT-based customer
management system to support sales people. However,
IT is vital since it underpins CRM, and has the
payoffs associated with modern technology, such as
speed, ease of use, power and memory, and so on.
CRM from the Customer Life Cycle (CLC)
Perspective.
The Customer Life Cycle (CLC) has obvious
similarities with the Product Life Cycle (PLC).
However, CLC focuses upon the creation of and
delivery of lifetime value to the customer i.e.
looks at the products of services that customers
need throughout their lives. It is marketing
orientated rather than product orientated.
Essentially, CLC is a summary of the key stages in a
customer's relationship with an organisation.
CRM from the Business Strategy Perspective.
The Business Strategy perspective has most in
common with many of the lessons and topics contained
on this website, and indeed within the field of
marketing itself.
The diagram below shows the
Marketing Teacher Model of CRM and Business
Strategy. Our model contains three key phases -
customer acquisition, customer retention and
customer extension, and three contextual factors -
marketing orientation, value creation and innovative
IT.
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