Knowledge Management Today

Soumit Sain and Silvio Wilde
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Soumit Sain: European University of Economics and Management

Chapter 1 in Customer Knowledge Management, 2014, pp 1-6 from Springer

Abstract: Abstract Customer Relationship Management (CRM) has been a much-discussed issue for many years now. If customers and customer relations are effectively managed, it can finally enhance the company’s profitability. “However, CRM for corporate clients is not just related to ‘hard’ factors”. CRM is a very complex topic. Apart from ‘hard factors’ like databases, managing customer relationships also requires ‘soft factors’ like relationship development. A successful relationship development can establish loyalty among customers, especially with a high customer lifetime value. The customer value for the company can be measured, among others, in terms of customer satisfaction and competitive edge. Creating customer satisfaction requires a shift from market to customer orientation, which means increasing the focus on the customer.

Keywords: Knowledge Management; Customer Relationship Management; Interpersonal Skill; Customer Orientation; Soft Skill (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-319-05059-1_1

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DOI: 10.1007/978-3-319-05059-1_1

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