Marketing MA Management and International Business

... Marketing MA Management and International Business Topic: Retail Loyalty Sona Petrosyan Student number: 33368121 Date: 13/12/04 Introduction CRM is a term for methodologists, technologies and e-commerce capabilities -used by companies to manage customer relationships. (Foss, 2001:1) It is also called customer management, customer care and sometimes customer centricity or customer-centric management. (Brown, 2000:1) All the names and definitions of CRM have customer, as its core-it is the management of customer relationships, which attempts to revolutionize marketing and reshape entire business models. To survive and grow the business must make a profit. To make a profit it has to find people who are willing to pay more for its products/services than they cost. Therefore profit comes from customers. C.Daffy, (2001:13) The idea of CRM is not new-it was the way the local shopkeeper treated his customer-he knew him, knew what was happening in his life, what he was buying, (one to one marketing?) etc. What is

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