Using two organisations as a vehicle for discussion provide a critical examination and discussion of the evolution of the marketing concept into first relationship marketing and then ‘Customer relationship Management (CRM)’. Critically discuss and explain that ‘Customer relationship Management’ is not just about keeping your customers satisfied; it allows firms to attract customers with speed, accuracy, availability, creativity and flexibility. In today’s ever-changing business and technology environment, CRM is more crucial than ever – ultimately a firm’s ability to compete, survive and profit may depend on it. The subject of marketing is dynamic and evolving. Every year there seems to be a new conceptual, strategic or operational innovation within the field. The nature and direction of modern marketing has changed over the last 30 years.
Specifically you should:
Critically evaluate and explain the concept of Customer relationship Marketing (CRM). (13 marks)
Critically evaluate and explain the concept of relationship marketing. (12 marks)
Link the two. CRM has evolved out of relationship marketing. Customer retention is the basic premise behind both concepts and is the main rationale for employing a CRM strategy. (15 marks)
Critically discuss and explain that CRM is a form of relationship marketing that makes full use of information technology in the form of data warehousing and data base marketing etc. in order to provide a ‘seamless’ coordination between sales, marketing per se, customer service, field support, after sales service and other customer facing functions. (10 marks)
All work should be appropriately referenced using APA6. Use at least six individual sources for this this part of the assignment. Use academic journal articles sources as well as books and other relevant material.
The above are simply indications. Any relevant answer should be accepted as long as it contains the salient issues and answers the question set.
Word count: 2,000 words