International Research journal of Management Sociology & Humanities
( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH
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CUSTOMER RELATIONSHIP MANAGEMENT: CONCEPT, SIGNIFICANCE AND PITFALLS
1 Author(s): DIPIKA BANSAL
Vol - 5, Issue- 6 , Page(s) : 27 - 48 (2014 ) DOI : https://doi.org/10.32804/IRJMSH
Intense competition and demanding customers have made it necessary for companies to develop new marketing strategies to gain deeper insights of customers. This has lead to the development of customer relationship management. The purpose of this paper is to integrate the current research in customer relationship management. The conceptual issues and the factors underlying customer relationship management have been explored to understand its role in dual creation of value for firm as well as for firms. Its applications in terms of profitable customer acquisition and retention along with the factors moderating its implementation have also been discussed. Finally, the potential pitfalls and unknowns are discussed along with its future prospects.