What are the characteristics of good relationships

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Reference no: EM132900803

Customer Relationship Management (CRM) is focused on identifying profitable customers, retaining those customers, and growing their lifetime value. The aim is to identify and differentiate individual customers and customer groups, use data to determine customer interactions, and determine how to provide customization within a mass customization environment.

Question 1: Based on your understanding of the principles of CRM, why has CRM heavily rely on structured data about customers? For instance, direct feedback and analysis about their habits, etc. How do companies begin to adjust for unstructured data from sources such as social media?

Question 2: Effective CMR requires consumers and organizations to establish and develop relationships with each other. What are the characteristics of good relationships? Why is it difficult to sustain relationships? What are some of the barriers to effective relationships?

Question 3: What is the difference between operational, analytical and collaborative CRM?

Reference no: EM132900803

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What are the characteristics of good relationships : Effective CMR requires consumers and organizations to establish and develop relationships with each other. What are the characteristics of good relationships?

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