CUSTOMER LOYALTY - THE MAJOR GOAL OF CUSTOMER RELATIONSHIP MANAGEMENT

Assoc. Prof. Adriana Scriosteanu Ph. D. and Prof. Daniela Popescu Ph. D.
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Assoc. Prof. Adriana Scriosteanu Ph. D.: University of Craiova Faculty of Economics and Business Administration Craiova, Romania
Prof. Daniela Popescu Ph. D.: University of Craiova Faculty of Economics and Business Administration Craiova, Romania

Annals of University of Craiova - Economic Sciences Series, 2010, vol. 3, issue 38, 7

Abstract: This paper presents the importance of customer relationship management (CRM) and customer loyalty for any organization that whishes to be successful and competitive in the market. A new emphasis in marketing and CRM is more and more widespread - creating customer relationships.In a competitive environment, the organizations have to focus their efforts towards continuous meeting both current and potential needs of all their customers. Many organizations have to consider how to enter a market and then build and protect its competitive position. Traditional marketing has focused on the final consumer seeking to promote brand values and to generate forced demand on the company's product market. The development of the concepts of segmentation, targeting and positioning signified the organizations' refocusing from the market approach as a whole, respectively the "mass market", to targeting and positioning strategies developed to suit the characteristics of the target segments chosen by the organization. The emergence and development of a distinct concept of customer relationship management and CRM software solutions design led to increasing focus on customer organization strategy. In addition to the strategy dedicated to a particular target segment, organizations have begun to design strategies and programs aimed at developing strategic relationships with specific strategic customers.The purpose of any customer relationship strategy should be customer acquisition and retention.Organizations should strive to develop CRM strategies to maintain and strengthen customer loyalty of the important customers

Keywords: marketing; customer relationship management; customer orientation; customer acquisition; customer loyalty (search for similar items in EconPapers)
JEL-codes: M30 M31 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (1)

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