CRM - Companies are in business to make the profit....

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CRM Art of retention can be achieved through customer relationship management (crm). In CRM the task is to develop strong consumer based brand equity, which is done by converting first time buyer to repeat buyer to a client to a member to advocates and finally to partners. During these course companies can look forward to offering financial benefits in terms of discount for frequent buyers or also by association with a social cause.
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Unformatted text preview: Companies are in business to make the profit. Therefore, it has to identify profitable customers. Profitable customers provide a revenue stream more than the expense stream on retaining them. And this revenue stream should be higher for a company to have a competitive advantage. More and more companies are deploying total quality management approach across the organization to build and deliver customer satisfaction....
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This note was uploaded on 11/26/2011 for the course MARKETING mg 103 taught by Professor - during the Fall '09 term at Montgomery.

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