Based on the Resource-Based View (RBV) literature, this study aims at developing and imple-menting a novel and comprehensive model so as to measure the effect of CRM resources on CRM capabilities and the effect of the latter on business performance. CRM resources are de-fined as infrastructural CRM resources (i.e. technological resources, human resources, and or-ganizational resources), and cultural CRM resources (i.e. customer orientation, learning orien-tation, and result orientation). CRM capabilities are measured through an organization’s cus-tomer interaction capability, customer relationship upgrading capability, and customer win-back capability. As for performance, this study measures business performance comprehensively from financial and marketing perspectives. Although the results indicate that CRM infrastruc-tural resources has a positive and direct effect on CRM capabilities, the effect of customer orien-tation culture and learning orientation culture on CRM capabilities was significantly stronger. Further, the results indicate the CRM capabilities significantly and positively affect business per-formance from marketing and financial standpoints. However, the effect of CRM capabilities on marketing performance was found to be stronger than effect on financial performance and mar-keting performance was found to partially mediate the relationship between CRM capabilities and financial performance.