Electronic Customer Relationship Management (eCRM)

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Electronic Customer Relationship Management (eCRM)

Category : Paper Series EN

Issue No. 49 (March – April 2008)

Eleni Kevork and Adam Vrechopoulos

The increasingly competitive environment prevailing in the global market and the rapid advances in the customer intelligence technologies have led retail companies to look for new business and marketing models for realizing intelligence-driven customer transactions and experiences. Emphasis is given on maximizing interactions across all customer touch points (e.g. POS, Web, Call Center, etc.), towards affecting specific consumer behaviour variables (e.g. satisfaction, loyalty, sales, profitability) through the appropriate manipulation of a series of determining variables (e.g. customized products and services, personalized promotional activities, etc.). Along these lines, technology evolutions and changes in consumer behavioural patterns have gradually developed the idea of a more customer oriented strategy, aiming at creating and maintaining good and long-term profitable relationships with customers according to their specific preferences and habits as all customers are not alike (Lozano, 2000; Bose, 2002 and Luck & Lancaster, 2003). This paradigm shift constitutes a revolution in the philosophy of marketing which is actually packed-up under the general concept of “Customer Relationship Management (CRM)”.

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