Technology has drastically changed how businesses operate. Internet and the subsequent “E-Commerce,” have granted customers more bargaining power than ever. Thus, Continuous Customer Relationship and Customer Relationship Management (CRM) become the goal for customer retention. CRM, if performed correctly, allows creative marketing people to gain insights from information for new product ideas or new promotional campaigns and turn them into profits. CRM has extended beyond sales and marketing to include functions such as finance, R&D, channel partners, and even customers. This paper discusses the concept of customer-centric approach in CRM and its components. The current CRM market, key players, and trends are also reviewed.
Chatranon, Alisa; Chen, Jason C.H.; Chong, P. Pete; and Chen, Ye-Sho, "Customer Relationship Management (CRM) and E-Commerce" (2001). ICEB 2001 Proceedings. 10.