Chapter 4
Customer-Centric Enterprise with CRM
Customer Relationship Management (CRM) is a holistic approach to identifying, attracting, and retaining customers. CRM deals with creating a customer-centric enterprise. This involves two major aspects: Customer centricity and customer responsiveness. All activities must eventually add value to the customer reflected in their willingness to pay for the products and/or services; nonvalue adding elements should be excised swiftly in Internet-time because customers have numerous other choices. This entails focusing all strategies, plans, and actions on the customer rather than the traditional focus on the products and/or services. As originally proposed by Fred Reichheld: It is a question of transitioning ...
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