Executive Summary. Business today has evolved to become more node oriented. Companies ar fault towards the guest subdivision focusing on node consanguinity management, customer lifetime value and customer retention. General Electric (GE), a diversified company and already so achievementful in the old parsimony, was not sp ar from the cutting either. Its former CEO, crap Welch, executed a series of changes in the company to spend a penny GE for the breach towards customer focus. Once there, it concentrated on node kin Management (CRM) to improve guest Lifetime cherish and Customer Retention. This is done by continuously delighting customers to achieve customer satisfaction. With that comes customer allegiance and ultimately a successful company. CRM has some(prenominal) positive and prohibit strategic implications on GE. With CRM GEs has achieved employee satisfaction, quality, good positioning, customer satisfaction / loyalty and improved performance / produc tivity. It has also change magnitude profit, shareholders wealth, food market value as well as voter the approximately admired company. Despite GEs achievements there are also setbacks much(prenominal) as company downsizing, retrenchment, staff resignation, high CRM systems cost, intruding customers loneliness and deviation of customer through segmentation. Companies could learn from the GEs example (known as the GE Way) on how to execute the shift towards the customer segment and utensil the CRM systems smoothly and successfully.
CRM helps companies manage customers effectively bringing success along the wa y, if implemented correctly. 1. Introduct! ion. Up till the early 1980s ...customers are seen as average statistic, passive buyers with a predetermined manipulation of consumption. Market research and inquiries had very limited or no interaction with the customers. It is mostly a one way dialogue in the old economy... (Prahalad C.K. and Ramaswamy V., 2000, p2). As the business competition desexualises tougher in the 1990s, Kotler admitted the economy has shifted into a customer economy where companies... If you want to get a full essay, order it on our website: OrderCustomPaper.com
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