customer relationship management (crm)

customer relationship management (crm) crm evolution > i960 - mass marketing > 1970 - segmentation > 1980 - rapid shifts in business that changed customer power > supply exceeded demands > sellers had little pricing power > only protection available to suppliers of goods and services was in their relationships with customers *integrated system of web enabled software tools and databases accomplishing a variety of customer-focused business processes that support the three phases of the relationship between a business and its customer' crm > crm is a business strategy > to understand, anticipate and manage current and potential customers > retention of customers in addition to the acquisition of new customers (maximizing total customer life-time value) > customer focused and …

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