Marketing MA Management and International Business Essay -- Business a

selling MA Management and International BusinessIntroductionCRM is a bound for methodologists, technologies and e-commercecapabilities -used by companies to manage customer relationships.(Foss, 20011) It is also called customer management, customer bidand sometimes customer centricity or customer-centric management.(Brown, 20001)All the names and definitions of CRM have customer, as its core-it isthe management of customer relationships, which attempts tor maturationize marketing and reshape entire ancestry models.To survive and grow the personal credit line must strive a make. To make a profitit has to find people who are willing to have more for itsproducts/services than they cost. Therefore profit comes fromcustomers.All Profit comes from customersSo if no profit=no communication channelAnd no customers=no profitThen no customers=no businessTherefore customers ARE the businessThe idea of CRM is not new-it was the way the local shopkeeper treatedhis customer-he knew him, k new what was adventure in his life, what hewas buying, (one to one marketing?) etc. What is new though is thatnowadays the retailers try to establish dialog with tens of thousandsor even millions of customers in an attempt to understand them better,their individual needs and maximise the lifetime pass judgment of thisrelationship. In this respect it is not revolution of marketing, butrather evolution. The old model of doing business is confirm intoaction but fortify with technology and different organizations to reach thecustomer and retain them for life.The four types of CRM programmes, expound by Stanley (2000) areaimed at enabling the company to win back customers, who have defectedor are planning to, (Win Back or Save), to micturate verity amongcustomers (Retail Loyalty), to up-sell or cross sell services to thesecustomers (Cross Sell/Up-Sell) and to setting for new customers (Prospecting)Retail LoyaltyLoyalty is a feeling or attitude of devoted attachment and affection or the act of spine oneself ( sharply or emotionally) to acourse of action. (http//dictionary.reference.com)In everyday life devotion implies emotional commitment to family andfriends, fidelity in marriage. It also suggests monogamy-one choice to a higher place all others. (Humby et.al, 20039)In this sense loyalty is something expected. But when it comes to... ...ce a Customer, ceaselessly a Customer Dublin OakTree stirFoss, B., Stone, M., (2001) victorious Customer Relationship trade London Kogan PageGilbert, D., (1999) Retail Marketing Management Harlow FT/PitmanHumby, C. et al., (2003) Scoring Points London Kogan PageOliver R. (1997) interrogation New York McGraw HillOmar, O (1999) Retail Marketing LondonFT ManagementReichheld, R. (1996) The Quest for Loyalty Boston Harvard BusinessSchool PressDaley, J (2004) Is a toaster a fair swap for your loyalty as ashopper? The Independent (http//proquest.umi.com)Davis, H. (2002) Marketing is all about intellectual use of dataLoyalty GuideJones, K (2002) Are you exploiting the potentiality of your customerbase? Loyalty Guidehttp//www.at1.uk.com/Loyalty_Fundamentals.htmwww.bbc.co.uk/cgi-bin/search/results. asda+loyalty+schemewww.foodanddrinkeurope.com/news/news- -loyalty-cards http//www.mori.com/polls/2002/blacksun.shtml 2002)http//money.guardian.co.uk/(Datamonitor report by E.Ripley)www.mori.comhttp//news.bbc.co.uk/1/hi/business/52056.stmCross J. (2004) Lecture notes Southampton, University College