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| Customer Relationship Management on Millennium Hotel |
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Word Limit: 2400 words
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Type : Essay
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Critically evaluate the extent to which customer relationship management strategy and processes can achieve effective customer intimacy for the mutual benefit of both organisation and customer, making reference to a single organisation of your choice.
ABSTRACT
The traditional mammoth task has become easier to apprehend with the advent of modern telecommunication technologies and information, for example, management and organization of a huge database within an organization (Sugandhi, 2002). From the past few decades, technologies have in a way facilitated new management disciplines to materialize certainly (Buttle, 2004). This encompasses customer relationship management, knowledge management and information management. In today’s global environment, it is essential for each and every company to develop a competitive advantage in all spheres of business processes whether they are operating with product sourcing or in marketing of services. In the present scenario, customers are extremely fortunate as they are faced with multiple choices to choose from (Anderson, 1994). Whether it is the purchase of cars, consumable items or any financial services, they have many alternatives available with them in the market. Articulated from this fact, it is essential to have an understanding in regards with the needs of customers in formulating any marketing plans. This essay will comprehend many related aspects of customer relationship management with special reference on Millennium Hotel, London.
Customer Relationship Management is defined as a business strategy that places emphasis on accompanies being more customers orientated (Buttle, 2004). It focuses on building relationships with customers rather than spotlighting the amount of units produced and sold. CRM seeks to retain customer by applying various marketing tactics and developing strong liaising with potential customers of the company (Frow and Payne, 2009). Seeking help from the CRM, any firm can create a competitive advantage by being the best at understanding, delivering, communicating and developing relationships with existing customers (Anderson, 1994). In addition to this, this will also provide supporting hands in generating new customers for the company. Customer relationship management has emerged as the latest buzzword. The concept is being popularized by the business press as well as marketed by the aggressive vendors of CRM as a panacea for all the ills faced by the different firms, people and managers (Sugandhi, 2002).
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