Customer Relationship Management Perspective Research Articles

Analysis of Customer Management of Commercial Banks

At present, most traditional commercial banks tend to design products based on their own interests and use universal standards to issue loans to customers. They rarely provide customized and personalized services based on the actual situation of customers, or not even trying to understand customers’ financial service needs. From the perspective of customer relationship management, there are still many problems and areas for improvement. This paper takes the JB branch of the Bank of Ningbo in China as an example. By sorting out the customer relationship management theory, this paper organizes and categorizes the research results on customer relationship management of commercial banks and proposes that commercial banks should provide customized and personalized services for different customer groups. The theoretical basis of services is designed to provide reference for the modern development of commercial banks.

Coping with earthquakes and COVID-19: A perspective of customer relationship management

This study describes Customer Relationship Management (CRM) resiliency activities carried out in Puerto Rico by small and medium-sized enterprises (SMEs) during a series of earthquakes and the COVID-19 pandemic. The objective of the study is to provide strategies to help businesses move forward and cope with negative effects of unexpected disruptive events. The data gathering process comprised 121 firms surveyed and 7 in-depth interviews with business owners and managers operating in Puerto Rico. Results reveal that reinforcing customer communications, followed by distribution and logistics re-engineering were some of the CRM resilience strategies frequently used by SMEs. By backing up their Critical Infrastructure (CI), businesses avoid telecommunications interruptions and stay in communication with stakeholders mainly via satellite and mobile Wi-Fi connections.

Statistical Analysis and Countermeasures of Major Power Customer Loss

This paper defines the loss of major power customer from the perspective of customer relationship management with a combination of qualitative analysis and quantitative analysis. The life cycle theory and risk management theory are used to analyze and discuss the factors of the loss of major power customers. The analysis model of major power customer loss based on evolutionary game is constructed, and empirical research is carried out by using the survey data. From the perspective of quantitative analysis, the method of variable selection and variable optimization selection for power customer churn early warning model is studied. Based on the comparative analysis of customer churn early warning model, a logistic regression based customer churn warning model is constructed. The effectiveness of the model is verified numerically with the survey data. Finally, the coping strategies such as differentiated service, organizational structure adaptability adjustment strategy and information system upgrade service are proposed.

Healthcare Facilities Website and Their Impact on Customer Satisfaction from the Perspective of Customer Relationship Management

Healthcare Facilities Website and Their Impact on Customer Satisfaction from the Perspective of Customer Relationship Management

경쟁 시장 환경이 장기적 성과 지향 전략의 수익 극대화에 미치는 영향 : 고객관계관리 관점에서

본 연구는 게임 이론적 모형의 분석을 통해 장기적 성과 지향 전략과 단기적 성과 지향 전략의 경쟁 우위 관계와 그 원인에 대해 조사하였다. 이를 위해 본 연구에서는 동일한 시장(잠재 고객을 포함한 동일 고객 집단)을 대상으로 복점 기업들(기업 1과 기업2)이 연속하는 두 기간 동안의 고객 획득 노력과 고객 유지 노력의 경쟁을 동시에 모형화 하였다. 분석 결과 단기적 성과 지향 전략의 장기 수익은 경쟁 상황에서 역설적으로 장기적 성과 지향전략의 장기 수익보다 더 클 수 있음을 보여 주었다. 본 연구는 이 역설적 상황의 원인으로 장기적 성과 지향 전략의 밑바탕이라 할 수 있는 고객관계가 발전되는 상황, 특히 고객 수익성이나 고객 선호도의 증가가 큰 상황에서 역설적으로 발생할 수 있는 장기적 성과 지향 전략의 장기 수익의 악화 가능성을 지목하였다. 따라서, 기업들은 장기적 성과 지향 전략의 경쟁 상황에서는 고객 수익성의 증가가 크거나 고객 선호도의 향상이 클 경우, 미래고객의 수익성을 지나치게 긍정적으로 예측하여 과도한 고객 획득 비용을 투자하게 되어, 결국에는 기업의 장기 수익성을 악화시킬 가능성이 높다.BR 본 연구는 고객관계관리를 고려한 장기적 성과 지향 전략과 단기적 성과 지향 전략의 비교를 통해, 장기적 성과 지향 전략이 미래에 대한 낙관적 예측으로 인한 과잉 투자의 가능성과 그로 인한 수익 악화의 가능성을 제시하였고, 동시에 장기적 성과 지향 전략의 단점과 그 원인을 게임 이론적 모형을 통해 구체적으로 조사하였다는데 그 의의가 있다.

An overview of Customer Relationship Management Software in Business Organizations

<p>The aim of the article is to present details of the research on focus on the customer in relation to the utilization of the customer relationship management computerized system in business organization. Customer relationship management (CRM) plays a central role in the growth and success of corporations in an environment of fast technological development and the extensive competition currently in evidence. CRM empowers corporations with better customer awareness and helps to construct sustainable relationships with customers. People, technology, and processes are the three basic components of CRM. In order to ensure the successful implementation and adoption of the CRM<br />initiative, this paper presents a detailed review of the literature relating to CRM processes and its computerized system. Various types and levels of the CRM process as well as an understanding of the different perspectives of CRM are presented in this review. The paper suggests that it is important for an organization to understand the four major perspectives of CRM processes i.e. customer facing level processes, customer oriented processes, cross functional CRM processes and CRM macro-level processes. A survey is also conducted in this paper and a chi square test is performed to test the hypothesis relating<br />to the efficiency of customer relationship management and the client relationship it offers. Results show that the hypothesis is statistically significant.</p>

The Impact of CRM dimensions on Customer Retention in the Hospitality Industry: Evidence from the Moroccan Hotel sector

Customer relationship management (CRM) has currently become one of the most controversial issues and is considered by many marketers as a focal-center in the business field. Previous literature suggest that it is essential for hotels to adopt CRM technologies to help hotel managers improve their organizations performance. Nevertheless, the relationship between CRM technology and hotel performance is still ambiguous. In an attempt to review the different perspectives of CRM, this research paper focus on the view that suggests that CRM implementations typically involve the four dimensions: (1) customer orientation (2) knowledge management (3) CRM organization, and (4) CRM technology. Our study evaluates the relationship between CRM dimensions and hotel performance (customer retention) in Morocco. A sample of 80 Moroccan hotels was examined, and regression and other tests were used for analyses and testing. Our findings demonstrates a significant effect of customer orientation, knowledge management, and CRM organization on customer retention. While the use of CRM technology has been demonstrated to not significantly affect customer retention in surveyed hotels.

Chinese relationship management: a qualitative study of banking in New Zealand

This study investigates the relational factors and motivations of Chinese migrant consumers towards financial service providers in New Zealand. Using convergent interviews, a deeper understanding is developed of immigrants’ relational behaviour with service providers. These relationships with service providers are significantly influenced by traditional Chinese values and guanxi and relational embeddedness plays an important role in how they are developed. The research contributes a better understanding of the interplay between Eastern and Western cultures in service relationships among immigrant groups. A general theory of the Chinese perspective of customer relationship management is developed. The implications for how marketing practitioners manage their relationships with migrant customers are explored.

Reducing employee turnover intention: a customer relationship management perspective

Research examining ways to prevent employee turnover has observed varied and often inconsistent findings, yet this remains a challenge to many firms, particularly call centers. This study therefore examines the impact of customer relationship management (CRM) dimensions on employee job satisfaction and intention to quit. A two-step methodological approach utilizing data from the Malaysian call center industry was used. The study conducted preliminary qualitative investigations (from literature and a focus group), and survey data were then used to test the conceptual model via structural equation modeling. The findings establish that a properly initiated and implemented CRM strategy will engender employee job satisfaction thereby resulting in significantly reduced intention to quit. The study identifies the key CRM dimensions that can be useful for call center managers in enhancing employee job satisfaction and averting employee turnover intentions. Implications for marketing theory and practice as well as areas for future research are discussed.

Customers' Perspective towards Customer Relationship Management with reference to Service Quality: A Study of Indian Public and Private Sector Banks

The paper studies the bank customers' perspective regarding customer relationship management (CRM) practices with refence to service quality of the Public and Private sectors banks in India. In todays scenario, when markets have become highly competitive due to globalization and privatization, customer relationship management (CRM) is gaining importance for successful growth of the banking industry. The study holds importance as marketeers have to find ways to increase the number of new customers alongside the rention of old ones. In order to conduct the study stratified random sampling was adopted and a sample of 240 bank customers was interviewed. It was indicated in the study that the perspective of customers regarding CRM and service quality has significant difference in terms of the bank category, i.e. public and private Indian banks.Further, when results were compared on the basis of gender, the results reflected a difference in perspective of Customer Relationship Management (CRM) and service quality among customers of private sector banks but this was not so in case of public sector banks. The research gave insights not only for the benefits of Indian banks, but also paved a way for further research in the area of academics. It clearly indicate the importance of development of strong CRM and service quality measures so as to fulfill the requirement of both male and female customers. The study also aid banks in deciding the customer oriented strategies in order to create differentiation for the banks. Keywordsbank customers, customer relationship management, private banking, public sector banks,.

A Study of e-Government Business Model with Customer Relationship Management Driven in Taiwan

The study examined the relationship among customer relationship management (CRM) readiness, e-government (e-Gov) business model and customer equity to indicate the advisable actions on citizen-centric e-Gov business model. Based on the benchmarking concept, the study used the questionnaire to analyze the influences of CRM readiness (blueprint management, change management, human resource, process management, ICT resource) on e-Gov business model (administration innovation, customer interface, service infrastructure, resources allocation) and the effect of citizen-centric e-Gov business model through customer equity (value, brand, relationship). The results can identify the level of CRM readiness in Taiwanese leading departments/agencies and improve the service process for e-Gov business model with a CRM perspective. The study found that: 1. Governments can enhance the effects of e-Gov business model through CRM readiness examining. 2. The sustainable customer equity can be transformed through e-Gov business model. 3. CRM participation and experience sharing could be broadened through the mechanisms of life-long learning for public servants further.

CRM in the digital age: implementation of CRM in three contemporary B2B firms

Purpose – The purpose of this study was to contribute to the current discussion on digitization in companies’ marketing from a customer relationship management (CRM) perspective by examining the role and objectives of CRM and the exploitation of social media to serve the objectives of CRM in contemporary business-to-business (B2B) companies. Design/methodology/approach – The data are collected through semi-structured themed interviews with key marketing/sales managers from three B2B firms. Findings – CRM seems to be moving closer to the company’s core activity and becoming everybody’s business to a greater extent than ever before, but its main goal, to enhance customer relationships, will not necessarily change. Understanding the customer is vital and requires different functions to cooperate closely to ensure the firm has the best possible understanding of its customers. Public social media tools played almost no part in CRM, but closed social media systems might have potential in the future. Research limitations/implications – The chosen research approach limits the generalization of the results. Practical implications – It seems likely that firms will benefit from a collaborative working style over the traditional silo approaches. For B2B firms, public social media does not seems to be the most suitable source to serve CRM but private social media channels might have potential in the future. Originality/value – The lack of empirical examination of the change from company ecosystem to customer ecosystem from a CRM perspective, and the lack of research on social media for CRM in the B2B context, determines the purpose of this study. Furthermore, digitization is a rather new and unstructured phenomenon and many companies are still considering how to reconcile to it.

Customer Satisfaction and Loyalty : A Review in the Perspective of CRM

This paper analyzes the concept of Customer Relationship Management (CRM). The literature reviews strengthen the notion that the increase of customer loyalty can be achieved through positive impact of CRM strategy. In spite of the most essential advantages of CRM, there are some difficulties in CRM implementation for many organizations. Therefore, this study attempts to investigate and find out the key elements of CRM that can lead to the increase of customer satisfaction and loyalty. Base on the literature review, four identified critical CRM elements are employees’ behavior, quality of customer services, relationship development and interaction management.

Customer Relationship Stage and the Use of Picture-Dominant versus Text-Dominant Advertising: A Field Study

This research reports the results of two field experiments designed to help determine what format of email advertising is most effective with customers at different lifecycle stages. The experiments examine customer response to picture-dominant versus text-dominant advertising. Although the relative effectiveness of picture- versus text-dominant advertising has received some attention in previous research, the issue of which type would be most effective at different points in the customer's relationship with the brand and for different metrics has not been explored. The two field experiments were executed by a major fashion retailer that sells clothing and accessories for special events. The first experiment was conducted with prospective customers and focused on advertising for the retailer's primary product, which typically occurs first in the purchase cycle. The second experiment was conducted with customers who had already purchased the primary product and focused on advertising for an accessory typically purchased later in the cycle. The investigation was conducted from a customer relationship management perspective, examining the financial impact of each type of advertisement at different stages in the customer's relationship with the brand. At the aggregate level we find only minor differences in the performance of the picture-dominant versus text-dominant advertisements. However, we find that the retailer can greatly improve revenue by customizing ad format based on observed customer traits.

Relation Benefit Implication for Repeating Order through Online Sales Application case study Batik SMEs in East Java

Strategy relational benefits, when viewed from the perspective of Customer Relationship Management is a strategy to facilitate the implementation of Customer Relationship Management strategy to become business actions to respond to the behavior of actual and potential customers. Information technology also provides many benefits and services for customers such as the benefits of the trust in the form of self- confidence and reduced anxiety (Rebecca and Kevin P. Gwinner, 2003(1)). The use of information technology also provide time benefits which is saving the time to visit or view the product and also selling the product at the same time (Yujong Hwang and Dan J.Kim, 2007(2)).The sampling method used in this study is proportional cluster random sampling. The samples is from the online customer of the batik product in East Java from February to May 2013. Analysis of the data in this study are using Structural Equation Modelling (SEM). Based on the results of research on that confidence can benefit significantly influence the satisfaction, confidence benefits significantly influence usage intention, social benefits significantly influence satisfaction, social benefits significantly influence usage intention, special treatment benefits significantly influence satisfaction, special treatment benefits significantly influence usage intention, satisfaction significant effect on usage intention. Keywords -confidence benefits, social benefits, special treatment benefit, satisfaction and usage intention.

CRM: A Conceptual Framework of Enablers and Perspectives

The paper aims to consider the neglected perspective of customer relationship management (CRM) under the perspective of business performance. This research also identifies the key types of enablers in the relationship between CRM and business performance. Base on a broad literature review and utilizing from the Meta analysis, the paper identifies micro and macro analysis as two main forms of CRM perspectives as well as four main elements of enablers in the CRM area. The research has addressed new venue for scholars to test and examine the role of enablers in the CRM implementation as well as business performance. This study emphasized on dual value creation in the cycle of CRM perspectives, enablers and business performance. In addition, the manuscript demonstrates the possible conduct of CRM analysis and enablers on practical sample for companies.

An integrative framework for customer relationship management: towards a systems view

Customer relationship management (CRM) is predicated on the notion that understanding and responding to customers is key to customer satisfaction, retention, and ultimately revenue growth and profitability. With the increasing power, reach, and role of information and communications technologies (ICT), business organisations are increasingly finding new grounds and opportunities for exploiting these technologies. However, many issues surrounding CRM remain largely unresolved. In particular, overemphasis on the marketing and business strategy perspectives has overshadowed the nature of CRM as information system. This paper proposes an integrative framework with particular emphasis on the systems perspective of CRM, and presents a client/server architecture for the CRM system. The framework and the architecture are intended to better assist in the understanding, development, and implementation of CRM systems.

The CRM behaviour theory – Managing corporate customer relationships in service industries

This article illustrates a Grounded Theory-based approach towards the discovery of the CRM Behaviour Theory. The CRM Behaviour Theory represents seven inter-related perspectives of Customer Relationship Management (CRM) relating to managing corporate customer relationships in service industries such as telecommunications. To gain a fresh perspective on CRM, an amended Glaserian Grounded Theory-based research methodology is proposed. This involved 52 personal interviews with service providers and their corporate clients. The results suggested taking a holistic view on CRM holons (a holon is defined as a system that is a whole system itself as well as being part of other systems) comprising seven interrelated pattern-like views. Leadership and an integrated approach are found to be critical, but not software. Software-centred approaches fail to deliver long-term results because of their exclusion of ‘soft’ issues, in particular organisational culture.

Exploring fantasy sports and its fan base from a CRM perspective

The fantasy sports industry relies highly on efficient customer relationship management (CRM) for much of its success. The ability for a provider to deliver quick, accurate and descriptive information to its consumers will result in customer loyalty and retention. Through separate hypothesis-testing and exploratory analysis, gender biases and extremely high levels of security were found within a web-enabled and professional sample of 200 respondents. The factor-based constructs were found to be, in order of the greatest explained variance, factor-based constructs as, in order of the greatest explained variance, fantasy sophistication, vendor issues, demographic maturity, participation issues, work-related internet use, mobile use and mobile users, resulting in seven factor-based scores with significant combined variance of 65.503%. While the fantasy sports industry does have a very strong, natural fan base to draw from, it is clear that the that the industry is doing a number of CRM-based initiatives well and marketing the game to its fans to keep them coming back to their websites with increasing frequency.

고객관계관리(CRM) 관점에서의 대학도서관 주제전문서비스에 관한 연구

본 연구는 근래 국내 대학도서관에서 도입이 가시화되고 있는 주제전문서비스를 마케팅의 한 분야인 고객관계관리(Customer Relationship Management: CRM)의 관점에서 살펴보고, 실제로 이 서비스가 대학도서관의 이용자, 특히 교수진들과의 관계에서 수행하는 역할과 이를 통한 마케팅의 효과를 알아보는 것을 그 목적으로 한다. 이를 위해 본 연구는 서비스의 실무자인 주제전문사서들과의 포커스 그룹 인터뷰와 서비스 대상자인 교수이용자와의 개별 심층 면접법을 실시하였으며, 또한 대학도서관의 교수이용자와의 관계의 유지 및 심화를 위한 주제전문사서의 요건을 함께 논의하였다. 본 연구는 주제전문서비스의 목적과 특성을 이용자 및 CRM의 관점에서 논의하였다는 데에 그 의의가 있다.