The document discusses strategic issues related to implementing customer relationship management (CRM) systems. It provides an overview of CRM, highlighting that CRM involves both business processes focused on customers as well as technological components like data collection and analysis. The document also discusses challenges in implementing CRM, such as the need for effective leadership, a holistic approach that integrates CRM across the organization, and properly identifying and targeting customer groups. It presents a case study of a CRM implementation at a UK manufacturing company to illustrate these issues.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Journal will bring together leading researchers, engineers and scientists in the domain of interest from around the world. Topics of interest for submission include, but are not limited to
Social CRM - Functional Architecture and Interactions FlowFabio Cipriani
Building long-lasting links with customer through innovative experience and co-generating value with them
Topics covered:
- Why Social CRM?
- Functional Architecture
- Flow and Value of Interactions
- What are CRM vendors doing to promote Social experience
- Pre-requisites and business questions
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Journal will bring together leading researchers, engineers and scientists in the domain of interest from around the world. Topics of interest for submission include, but are not limited to
Social CRM - Functional Architecture and Interactions FlowFabio Cipriani
Building long-lasting links with customer through innovative experience and co-generating value with them
Topics covered:
- Why Social CRM?
- Functional Architecture
- Flow and Value of Interactions
- What are CRM vendors doing to promote Social experience
- Pre-requisites and business questions
As part of our mission to help companies make the best software selection decisions. The goal was to answer some of the critical questions that companies should ask themselves before embarking on this business task.
IBM Retail | CRM Leadership in the Digital Era: A Global StudyIBM Retail
In a recent study, IBM surveyed nearly 500 CRM executives across roles, industries and management responsibilities in 66 countries. Read how these leaders assess the current state of marketing, the viability of old business models and how they define the path forward in an emerging digital age.
Its easy to assume that CRM is something that all businesses understand. Well they don't. If you are focusing on your business and are unsure about how CRM can help your enterprise grow, then this resource is perfect for you.
This is an e-book published by one of our vendors and shared here for your enjoyment
BRM related FAQs that you might come across, including the difference between CRM, BRM and PRM, what is a BRM software, examples of industries using a BRM... etc.
Benefits of tighter Automotive Dealer-Manufacturer Data CollaborationInfosys
The automotive industry lags in its ability to collaborate through the value chain in order to maximize customer satisfaction and efficiency. Several impediments such as heterogeneous nature of Dealer-originated information, the barriers of working through protective Dealer Systems Providers (DSPs), dealer concerns of protecting sensitive information, underlying technology immaturity, and manufacturer system constraints exist.One of the most significant opportunities for improvement is how Dealers and Manufacturers can effectively, consistently, and co-operatively utilize common information for mutual benefit
Life Sciences: Leveraging Customer Data for Commercial SuccessCognizant
As the healthcare buying process becomes increasingly complex, master data management solutions focused on customer relationships are critical for life sciences companies to excel.
As part of our mission to help companies make the best software selection decisions. The goal was to answer some of the critical questions that companies should ask themselves before embarking on this business task.
IBM Retail | CRM Leadership in the Digital Era: A Global StudyIBM Retail
In a recent study, IBM surveyed nearly 500 CRM executives across roles, industries and management responsibilities in 66 countries. Read how these leaders assess the current state of marketing, the viability of old business models and how they define the path forward in an emerging digital age.
Its easy to assume that CRM is something that all businesses understand. Well they don't. If you are focusing on your business and are unsure about how CRM can help your enterprise grow, then this resource is perfect for you.
This is an e-book published by one of our vendors and shared here for your enjoyment
BRM related FAQs that you might come across, including the difference between CRM, BRM and PRM, what is a BRM software, examples of industries using a BRM... etc.
Benefits of tighter Automotive Dealer-Manufacturer Data CollaborationInfosys
The automotive industry lags in its ability to collaborate through the value chain in order to maximize customer satisfaction and efficiency. Several impediments such as heterogeneous nature of Dealer-originated information, the barriers of working through protective Dealer Systems Providers (DSPs), dealer concerns of protecting sensitive information, underlying technology immaturity, and manufacturer system constraints exist.One of the most significant opportunities for improvement is how Dealers and Manufacturers can effectively, consistently, and co-operatively utilize common information for mutual benefit
Life Sciences: Leveraging Customer Data for Commercial SuccessCognizant
As the healthcare buying process becomes increasingly complex, master data management solutions focused on customer relationships are critical for life sciences companies to excel.
Simplifying the Complex Enterprise Performance Management MarketPack22
This presentation overviews the enterprise performance management (EPM) market and describes a new approach for realizing key strategies using better EPM software.
2013 Current State of American Durable Goods Manufacturing SectorPack22
Detailed research and analysis. Current health of America's durable goods manufacturing industries. Rating and comparison of primary metals, fabricated metal products, machinery manufacturing, computer and electronic products, electrical equipment, and transportation equipment. Growth trends. Employment situation. Financial statements. Jobs. Output and Inventories. Productivity and capacity utilization. Import and Export. PPI. CPI.
CRM in Russia and US Journal of Technology Research Page 2
CRM in Russia and U.S. -- Case Study from American
Financial Service Industry
Dr. Tom Griffin
Nova Southeastern University
E-mail: [email protected]
Tamilla Curtis
Nova Southeastern University
E-mail: [email protected]
Donald Barrere
Nova Southeastern University
E-mail: [email protected]
Abstract
This paper discusses Customer Relationship Management in two sharply
contrasting business cultures: the United States and Russia. Included in the present
work is a case study of a midsized American financial services firm that illustrates a
common path to the decision to have a CRM system: the planning, selection, and the
implementation of the CRM program, including a discussion of the likelihood of success.
The clients in this case are Financial Advisors, who in turn sell the investment products
to the end user individual investors.
CRM in Russia is yet in its infancy as the economy emerges from 200 years as a
pure commodity economy with little customer service much less customer relationship
management as part of management philosophy. The study concludes with implications
and suggested research.
Keywords: Customer relationship management, culture, case study, finance.
CRM in Russia and US Journal of Technology Research Page 3
INTRODUCTION
While Relationship Marketing in America dates to 1983 (Berry), Customer
Relationship Management as a business strategy in a customer-centric rather than a
product-centric environment dates to the 90s, with a joint project between IBM and
Siebel. Customer Relationship Management programs are the necessary by-product of
Customer Relation Management as a business plan. Many organizations, with sales
divisions that rely on repeat business and with an eye on revenue growth and
increasing returns to shareholders, are undergoing a revolutionary metamorphosis from
product-centric to customer-centric sales focus. In the financial services industry, the
process has accelerated over the past decade since the “tech bubble” debacle of 1999-
2000, due in part to high levels of litigation and arbitration cases during which all-
financial service firms have suffered. The market prevails again and in part out of fear of
losses from litigation, firms are developing strategies to include more documented
information of relationships between sales personnel and clients. An effective CRM
system is a way of ensuring documentation and retention of client-salesperson
interaction information. Two predominant goals of a CRM system in financial services
are customer retention and increased wallet share. Other metrics for success of a CRM
system exist such as account profitability although few systems appear to have survived
long enough for refinement to that level of study. Clearly if customer retention is lo ...
Social Observational ActivitySpend some time observing another.docxsamuel699872
Social Observational Activity
Spend some time observing another adult interacting with at least one other adult (at home, in a park, at the mall, at work, etc.) and reflect on the nonverbal cues and body language that they tend to use. What are they trying to “say” to the other person?
Locate scholarly materials to help support your accuracy of what the person’s body language and nonverbal communication is conveying (eye contact, posture, appearance, leaning in, facial expressions, artifacts [a uniform, etc.] gestures, etc.) Be descriptive in your analysis of all non-verbal communication that you identify and body language examples.
.
Your paper should be 2-3 pages in length. Include at least two scholarly references in addition to the course textbook to support your analysis and position.
Introduction of the specific topic
Customer Relationship Management
As a group, we will be explaining how customer relationship management is a customer-focused and customer-driven organizational strategy. Elaborate on how modern CRM systems can build sustainable long-term customer relationships that can create value for both companies and their customers. In addition, to helping many companies acquire new customers while also retaining and expanding their relationships with advantageous existing customers. Overall, this topic is an approach to manage a company’s interaction with current and potential customers. It uses data analysis about customers history with a company to improve business relationships with customers. It specifically focuses on customer retention and driving sales growth. The reason this is important and relevant to our class is because businesses data is used to see what customers like and don’t like. Businesses use this because sales tend to improve overall when they use CRM.
Tentative milestone/schedule of the project.
Introduction
Customer relationship management is very commonly referred to as CRM within the business world. It is perceived as both a customer-driven and customer-focused strategy that in part is used to aid the communication between businesses and their customers (Rainer & Prince, 2020). It does in fact also contribute a great deal to many businesses marketing tactics and more specifically allowing them to focus on customers individually. Then, providing them with the proper information needed to meet their individual customer’s needs and desires, which in essence contributes to creating a customer intimacy that so many businesses lack today. With living in a very digital and internet driven world today, customer relationship management has been able to really fill a void that has unintentionally been created by the Internet because of how impersonal it has made what used to be in-person experiences, now digitized.
The process in which customer relationship management is utilized, is by employing information technologies through numerous systems and applications. It is a technology used to manag.
Social Observational ActivitySpend some time observing another.docxrosemariebrayshaw
Social Observational Activity
Spend some time observing another adult interacting with at least one other adult (at home, in a park, at the mall, at work, etc.) and reflect on the nonverbal cues and body language that they tend to use. What are they trying to “say” to the other person?
Locate scholarly materials to help support your accuracy of what the person’s body language and nonverbal communication is conveying (eye contact, posture, appearance, leaning in, facial expressions, artifacts [a uniform, etc.] gestures, etc.) Be descriptive in your analysis of all non-verbal communication that you identify and body language examples.
.
Your paper should be 2-3 pages in length. Include at least two scholarly references in addition to the course textbook to support your analysis and position.
Introduction of the specific topic
Customer Relationship Management
As a group, we will be explaining how customer relationship management is a customer-focused and customer-driven organizational strategy. Elaborate on how modern CRM systems can build sustainable long-term customer relationships that can create value for both companies and their customers. In addition, to helping many companies acquire new customers while also retaining and expanding their relationships with advantageous existing customers. Overall, this topic is an approach to manage a company’s interaction with current and potential customers. It uses data analysis about customers history with a company to improve business relationships with customers. It specifically focuses on customer retention and driving sales growth. The reason this is important and relevant to our class is because businesses data is used to see what customers like and don’t like. Businesses use this because sales tend to improve overall when they use CRM.
Tentative milestone/schedule of the project.
Introduction
Customer relationship management is very commonly referred to as CRM within the business world. It is perceived as both a customer-driven and customer-focused strategy that in part is used to aid the communication between businesses and their customers (Rainer & Prince, 2020). It does in fact also contribute a great deal to many businesses marketing tactics and more specifically allowing them to focus on customers individually. Then, providing them with the proper information needed to meet their individual customer’s needs and desires, which in essence contributes to creating a customer intimacy that so many businesses lack today. With living in a very digital and internet driven world today, customer relationship management has been able to really fill a void that has unintentionally been created by the Internet because of how impersonal it has made what used to be in-person experiences, now digitized.
The process in which customer relationship management is utilized, is by employing information technologies through numerous systems and applications. It is a technology used to manag.
Customer Relationship Management (CRM) has grabbed the attention of both practice and research in the past decade, developing into an area of major significance. The focus of the CRM concept is to build a long-term and value-added relationship for both the organisation and customers. Governments – although considered late followers compared to the private industry – have been showing growing interest in CRM systems recently to help public and government agencies track and manage relationships with their constituents. In this article, we review existing literature to provide an understanding of the field. We also present a proposed CRM framework based on literature review and practice work. The proposed framework is envisaged to act as a practical management tool that provides a holistic overview of implementation phases, components of each phase, and associate critical success factors.
EVOLUTION OF CUSTOMER RELATIONSHIP
CRM-Definition, emergence of CRM practice, factors responsible for CRM growth, CRM Process, framework of CRM, Benefits of CRM, Types of CRM, Scope of CRM, Customer Profitability, Future Trends in CRM, CRM and Cost-Benefit Analysis, CRM and Relationship Marketing, Customer Relationship Management Unit-1 IMBA Osmania University
CRM definition
CRM characteristics
Components
The role of CRM
Examples of a successful CRM
The challenges that CRM faces
Success factors of CRM
Research discussion
Embracing Customer Relationship Management (CRM) to Improve Organisational Vi...IOSRJBM
The study aimed at finding ways of improving organisational viability by small businesses in Chinhoyi through applying Customer Relationship Management (CRM). This study was prompted by lack of growth of the sector. These firms have been facing a business environment characterised by low Gross Domestic Product (GDP), foreign currency challenges, high unemployment, brain drain, liquidity crisis, high competition and low demand for domestic products. The descriptive design was used. Thirty registered small businesses, with approximately 100 subordinates and 25 managers/supervisors formed the target population for the study. The sample size was 40 and comprised of 30 subordinates and 10 managers/supervisors. Simple random sampling was used to select respondents for the study. The research instruments used were questionnaires, observations and interviews. The study found out that many small businesses do not have a comprehensive CRM programme. The study concluded that lack of a comprehensive customer relationship management programmes by small businesses has been hampering performance of the sector. The study recommends the implementation of CRM programmes by small businesses in Zimbabwe through information centres and embracing information technology. Feedback processes are also necessary for CRM. There is need to carry out a national survey on CRM for small businesses for generalisation of findings across the entire Zimbabwean economy.
Advance technology and globalization has lead to competition so fierce never before.
Due to this intense competitive environment has shown a paradigm shift from transaction model to the relationship model where the focus is on long term customer satisfaction rather than short term profit acquiring by the business.
So, keeping your existing customer satisfied and maximizing Customer Lifetime Value (CLV) have significant importance than acquiring new customer.
In marketing, customer lifetime value (CLV), lifetime customer value (LCV), or lifetime value (LTV) is the net present value of the cash flows attributed to the relationship with a customer.
The use of customer lifetime value as a marketing metric tends to place greater emphasis on customer service and long-term customer satisfaction, rather than on maximizing short-term sales.
The concept of CLV helps the marketer to analyze the cost of acquiring , servicing and retaining a certain set of customer in the market
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
1. Por Silvia Corzo 100007514
Comunicación y nuevas tecnologías.
RESUMEN:
CRM (Customer Relationship Management)
En años recientes muchas organizaciones han identificado la necesidad de
convertirse en organismos más orientados hacia el servicio al cliente para así
poder competir en el creciente mercado global. Como consecuencia de esto, la
aplicación del CRM (customer relationship management) ha aumentado de forma
acelerada constante.
El CRM, es una aplicación que consiste en la utilización de información del
cliente, para con esta crear productos y servicios relevantes para el usuario. CRM,
parte de la idea de que es más fácil y más económico mantener una relación con
un cliente que establecer una nueva. Tecnológicamente el CRM es un sistema de
recolección y análisis de información sobre los clientes; el CRM procesa esta
información y produce grupos de enfoque ayudando a las organizaciones y
entidades a estar al tanto de los constantes cambios de necesidades y gustos de
su clientela.
En el año 1998, fue estimado que el mercado corporativo global del CRM
alcanzaba los $1.9 billones de USD y se predijo un aumento del más del 100% en
los siguientes años. En el año 2004 este mercado ya oscilaba aproximadamente
los $23.5 billones de USD. A pesar de que los sistemas CRM han logrado gran
popularidad entre diferentes organizaciones, estos no han dejado del todo
satisfechos a sus compradores. Un estudio de 202 proyectos CRM concluyo que
solo el 30.7% de las organizaciones encontraron que el sistema ayudo a mejorar
la manera que venden y la atención al cliente (Dickie,2000). También, en el año
2001 se realizó un estudio que concluyo que en el 70% de las compañías en las
cuales se implementan el sistema CRM, el sistema no logro cumplir con las
expectativas de estas. Sin embargo, editoriales como First Manhattan son
ejemplos de organizaciones que han implementado el sistema CRM y han
experimentado beneficio. Una de las razones a las cuales se atribuye el margen
de fracaso del CRM es su complejidad. El CRM requiere de procesos apropiados
de negocios y de sistemas integrados, requiere de liderazgo efectivo, de
estrategias de venta y de puntos de enfoque. Lastimosamente, al ser un sistema
nuevo la falta de investigaciones empíricas ha causado la desinformación de los
usuarios y esto a su vez el mal uso del CRM.
Implementación del CRM
2. Conclusiones logradas a través de investigaciones realizadas afirman que
el CRM es una gran herramienta para poder identificar los tipos de consumidores.
Existen dos tipos de consumidores, el consumidor de transacción y el consumidor
de relación. El consumidor de transacción es volátil y tiene muy poca lealtad hacia
el producto o marca, su mayor preocupación es la obtención del mejor precio. Los
consumidores de relación son aquellos con gran potencial de lealtad ya que son
estos los que son más fieles hacia el producto o servicio ofrecido sin depender del
margen del precio. Al tener este conocimiento la organización podrá enfocarse en
los clientes de relación ya que estos causan menos costos para la empresa y
mayor rentabilidad.
Otra implementación del CRM es que al conocer más a los consumidores,
también se conocerán más los problemas que estos ven con la organización. Al
conocer esto las estrategias creadas serán más eficientes.
En conclusión, el CRM es real y el impacto que está teniendo en el mercado
global no es ignorable. La falta de investigaciones empíricas hace que su uso y
aplicación correcta sean aún desconocida para muchas empresas; pero en un
mercado en el que “el cliente siempre tiene la razón” el CRM parece haber
encontrado la manera de crear una relación más estrecha entre el productor y el
consumidor.
TEXTO ORIGINAL:
Strategic issues in customer relationship management (CRM)
implementation
Christopher Bull. Business Process Management Journal. Bradford: 2003. Vol. 9, Iss. 5; pg. 592,
11 pgs
Abstract (Summary)
The number of customer relationship management (CRM) implementations has grown
dramatically in recent years. However, few academic studies of the issues associated with the
implementation of the concept are available. This paper offers a modest contribution through the
analysis of a case study of a CRM implementation at a UK-based manufacturing company. The
case study illustrates that CRM is a complex and holistic concept, organised around business
processes and the integration of information technologies. The study also highlights that
implementing CRM requires effective leadership, sourcing, targeting and evaluation
[Headnote]
Abstract The number of customer relationship management (CRM implementations has grown dramatically
in recent years. However, few academic studies of the issues associated with the implementation of the
concept are available. This paper offers a modest contribution through the analysis of a case study of a CRM
implementation at a UK-based manufacturing company. The case study illustrates that CRM is a complex and
holistic concept, organised around business processes and the integration of information technologies. The
study also highlights that implementing CRM requires effective leadership, sourcing, targeting and evaluation
strategies.
3. Introduction
In recent years many organizations have identified the need to become more customer facing with
increased global competition. As a consequence, customer relationship management (CRM) has
risen to the agenda of many organisational strategies. Definitions of CRM and CRM systems are
wide ranging and shall be explored in greater detail in the next section. Fundamentally however,
CRM systems can be viewed as information systems aimed at enabling organisations to realise a
customer focus. In 1998 global corporate expenditure on CRM was estimated to be in the region of
US$1.9 billion (IDC and AMR Research, 2001) and it is predicted that by 2004, it will reach
approximately US$23.5 billion (Datamonitor, 2001)[1]. Clearly, an increasing number of diverse
organisations are adopting CRM yet surveys are beginning to highlight the potential risks. Even
though CRM systems are proving an incredibly popular choice for implementation, success is
proving illusive. One study of 202 CRM projects found that only 30.7 per cent of the organisations
said that they had achieved improvements in the way they sell to and service customers (Dickie,
2000). Moreover, a recent and broader survey estimates that 70 per cent of companies will
ultimately fail (Giga, 2001). The Giga survey revealed that: companies generally underestimate the
complexities of CRM, lack clear business objectives and tend to invest inadequately in the provision
of CRM software. While the findings by Giga highlight a fairly gloomy scenario, it is clear that not all
organisations are facing failure. First Manhattan are just one of the many examples of diverse
companies highlighted by Newell (2000) that have applied CRM methods and experienced success.
It is clear that there is still a need for further empirical studies of CRM however, only a few are
available. The availability ranges from the study of Abselon (Van Bennekom and Blaisdell, 2000) to
that of IBM (Ciborra and Failla, 2000). It is against this background that the author offers a case
study analysis of the selection and implementation of a CRM system at a manufacturing company.
In the next section the paper considers the concept of CRM and how CRM systems are reported on
in the literature. Following this, the research approach of a single descriptive case study is reported,
and the data presented. The empirical data is used as a basis for an analysis of the reported
thinking in the literature in an attempt to identify similarities and disparities between the two. This
leads into the conclusions of the study and recommendations for further research.
An overview of CRM
CRM is a highly fragmented environment and has come to mean different things to different people
(McKie, 2000). One view of CRM is the utilisation of customer related information or knowledge to
deliver relevant products or services to customers (Levine, 2000). While such definitions are
widespread, they tend to offer a narrow insight into the goals or basic characteristics of CRM. As
CRM evolves, richer definitions are emerging, with an emphasis on the goals, logistics and complex
character of CRM. According to Light (2001), CRM evolved from business processes such as
relationship marketing and the increased emphasis on improved customer retention through the
effective management of customer relationships. Relationship marketing emphasises that customer
retention affects company profitability in that it is more efficient to maintain an existing relationship
with a customer than create a new one (Payne et al, 1999; Reichheld, 1996). The idea of
relationship marketing within CRM is fairly strong and has led others such as Newell (2000) to
explore strategic methods for maintaining or improving customer retention. Another view of CRM is
that it is technologically orientated. Sandoe et aL (2001) argue that advances in database
technologies such as data warehousing and data mining, are crucial to the functionality and
effectiveness of CRM systems. For example, Fingerhut has four million names of repeat
customers, each with up to 1,000 attributes, stored in a data warehouse that can hold 4.5 trillion
bytes (Davenport et al., 2001). Furthermore, Peppard (2000) suggests that technological advances
in global networks, convergence and improved interactivity, are key to explaining the growth of e-
business and CRM. The increasing use of digital technologies by customers, particularly the
Internet, is changing what is possible and what is expected in terms of customer management
(Tamminga and O'Halloran, 2000). The appropriate use, for instance, of automation technologies,
such as interactive voice response systems and Web-based frequently asked question pages, could
4. be popular with customers and highly cost effective (Petrissans, 2000). Despite the appearance of
two extremes, the ELMS case study will demonstrate that in reality CRM is a complex combination
of business and technological factors, and thus strategies should be formulated accordingly.
CRM implementation issues
CRM normally involves business process change and the introduction of new information
technology, consequently effective leadership is important (Galbreath and Rogers, 1999). Because
leaders monitor the external environments of an organisation they are often the best placed to set
the vision or strategic direction for CRM projects. In addition, leaders are influential in the
authorisation and control of expenditure, the setting and monitoring of performance and the
empowerment and motivation of key personnel (Pinto and Slevin, 1987).
As CRM reaches into many parts of the business it has been suggested that organisations should
adopt a holistic approach (Girishankar, 2000). The holistic approach places CRM at the heart of the
organisation with customer orientated business processes and the integration of CRM systems.
Ciborra and Failla (2000) conceptualise CRM beyond a front office contact management system.
For others, CRM goes further, to constitute operational, analytical and collaborative elements
(Trepper, 2000). Holistic approaches to CRM help organisations co-ordinate and effectively
maintain the growth of disparate customer contact points or channels of communication. However,
problems of channel conflict have been identified whereby customer experiences differ depending
on the sales channel (Peppard, 2000).
Another implementation issue is that of sourcing. Many organisations have few alternatives but to
outsource a significant proportion of their CRM solution as they lack the resources to develop CRM
software. According to MacSweeney (2000) 60 per cent of in-house CRM systems fail. Timing is
also important, as developing CRM software in-house can be a lengthy process and there are
rewards to those that can respond rapidly and appropriately (Howle, 2000). CRM is also reputed to
be facilitating the outsourcing of more business operations directly to the customer, highlighted by
the UPS customer self-tracking system with annual savings of US$164 million (Hamm and Hof,
2000) and by the enormous savings in Internet banking (Downes and Mui, 1998).
According to Newell (2000) CRM is a useful tool in terms of identifying the right customer groups
and for helping to decide which customers to jettison. Clemons (2000) estimates there may be a
tenfold difference between the most profitable customers and the average. The idea that you cannot
have a profitable relationship with all customers and the practice of targeting customers with a
differentiated product or service is already widespread in many financial services, e.g. banking,
insurance, credit cards etc. It is less established in many other business sectors such as
manufacturing. One method for identifying customer groups is the notion of distinguishing between
transaction and relationship customers. Transaction customers are highly volatile and have little
loyalty, other than that related to obtaining the best price. Relationship customers have far more
potential for loyalty as they are often prepared to pay a premium price for a range of reliable goods
or services (Newell, 2000). Once relationship customers are recruited they are less likely to defect,
provided they continue to receive quality service. Relationship customers are also more cost
effective than new customers because they are already familiar with, and require far less
persuasion to buy the company's products or services. Peck et aL (1999) are among those who
argue that for many organisations it would be beneficial to distinguish between the two types of
customer and focus on relationship customers. According to Newell (2000) there are often three
distinct types of relationship customers: the top, middle and lower groups. The top group (top 10 per
cent) consists of customers with excellent loyalty and of high profitability for the organisation. CRM
is needed to retain and offer them the best possible services in order to avoid them defecting to
hungry competitors. Middle group customers (next 40-50 per cent) are ones delivering good profits
and who show good potential for future growth and loyalty. These are the customers who are
probably giving some of their business to competitors. The idea is to use CRM to target middle
group customers effectively as they are the greatest source of potential growth. Lower group
5. relational (bottom 40-50 per cent) customers are those who are only marginally profitable. Some
may have potential for growth but the expense and effort involved in targeting such numbers,
hinders the effectiveness of servicing existing relational customers in the top and middle groups.
CRM should be used to identify this group and seriously consider the response required.
Transactional customers contribute either nothing or have an adverse effect on profitability. The
consensus therefore is that CRM needs to identify transactional customers to help organisations
respond appropriately.
Another dimension is the ability to deliver the strategy successfully. CRM strategies are only
effective if they deliver positive outcomes. It is no longer good enough just to say that you are
customer focused, but it matters what you do. Newell (2000) discusses a range of CRM case
studies that used customer knowledge to deliver relevant products and services.
Blockbuster recognised that their customer's top priority was the ability to rent their first-choice
movie, when they visited a store. The industry norm for achieving this customer service was around
80 per cent. The company implemented an information system called "Centre stage" to improve
stock availability of first-choice titles. The centre stage system stores customer data to help predict
the likely demand for specific movies. The company then stocks the relevant number of products
and now delivers significantly improved availability, while other competitors don't.
Blockbuster strongly believes that CRM has enabled them to remain a market leader. The
consensus appears to be that the fundamental goal of CRM is to improve organisational profitability
through efficient and effective customer relations. If the CRM strategy is struggling to influence
profitability, after a reasonable period of time, then the organisation is clearly failing. Organisations
in this position should immediately consider changing direction and adopt alternative strategies. The
position for those organisations that have failed may result in a series of circumstances that are
hard to recover from. Such companies may find they have a disproportionate number of unprofitable
customers that others have jettisoned. The path back to growth may require far more radical
approaches. If a CRM strategy can be shown to improve profitability, then the organisation is
obviously on the right path and succeeding. Companies in this healthy position should avoid
complacency. They would be wise to devote sufficient resources and time to CRM and remember
that effective CRM strategies are iterative and continually evolving.
Research method
The central research question for this study was: What are the strategic implications of the
implementation and use of CRM systems? In the light of this, a case study approach was adopted
as it enables the researcher to pose questions relating to what happened, how things happened
and why (Yin, 1994). The case study therefore illustrates a UK-based manufacturing company's
experiences with its CRM implementation. The data for the study was collected over the period of a
year beginning at the selection stage and reaching closure at go-live. Throughout the study, data
was collected via a number of channels including many interviews with members of the project team
and others within the company. Interviews were conducted with the directors of sales and finance,
the managers of sales, marketing, IT, HRM and logistics, several field sales engineers and sales
administrators. In addition numerous project meetings and briefings were attended in line with
Silverman (1998) who states that researchers should focus on what people do, in addition to what
they say they do. Documentary evidence, such as requirements specifications was also considered.
Review meetings were also held with key contacts at the organisation, to review the case data as it
was transcribed from note form. This combined approach helped to generate data that was rich in
detail and high in rigour (Miles and Huberman, 1994).
CRM case study
The case study was conducted throughout 2000 and raises specific issues of one company's
experience of CRM. However, some of the issues raised are of interest to others that seek to adopt
CRM, will contribute to further discussion and be of use in terms of further case study research.
6. ELMS Limited is a small- to medium-sized UK manufacturing company. ELMS are traditional in
respect that they have a hierarchical command structure and work is conducted in departments
rather than around customer-orientated business processes. Communications within management
levels and departments are perceived as excellent and the company claims to have strong
organisational co-operation with low levels of staff turnover. ELMS are facing increasing global
competition resulting in the loss of some key customers. A strategic decision was made that the
company had to be more proactive and proficient in their operating market and decided that its front
office operations were in need of re-engineering. It decided that the best solution would be to
explore the case for adopting CRM.
The first major issue for ELMS was the lack of knowledge pertaining to the concept of CRM.
Strategic managers had a basic understanding of CRM. The IT department had little time to
research CRM or to develop software solutions as it was often overstretched and struggling to
maintain existing systems. The sales and marketing devoted little time to the concept of CRM as
they were increasingly burdened with trying to meet customer requirements with fairly ineffective ad
hoc support and communication systems. Thus, it was decided to use external consultants to
acquire knowledge of CRM. The first stage of consultancy was to evaluate the position at ELMS
and explore the case for adopting CRM. ELMS were dissatisfied with the outcome of the initial
consultancy for they believed the findings failed to tell them anything they didn't already know,
provided little in the way of knowledge about CRM and proved to be a fairly expensive exercise.
ELMS decided to end the contract and to seek an alternative approach. The company decided that
a more cost effective and productive strategy would be to acquire more CRM expertise within the
company, despite the existing work pressures. A small project team was created including a
strategic manager and personnel from sales and marketing and IT. They were asked to acquire
knowledge of CRM and were given additional training at a range of residential courses.
The project team's first decision was to source a CRM packaged software solution and they entered
into negotiations with two software vendors. After negotiations and demonstrations at the company,
a vendor was selected and a package chosen. In addition, the vendor would be used to provide a
range of additional services including installation and minor configurations.
Unfortunately, the ELMS CRM sourcing strategy was limited in many areas. Too many members of
the project team failed to become sufficiently active in the selection process. Despite initial training,
the sales and marketing project team members still lacked knowledge of the full implications of
CRM in relation to their business requirements. They failed to appreciate the need to evaluate the
software from a business perspective, perceiving the exercise as a technical issue. It is also the
case that the project team put enormous faith in vendor assurances and verbal promises, perhaps
because the vendor contacts were fellow sales representatives? The IT manager lacked expertise
to sufficiently perform the necessary evaluation of the business requirements and was primarily
concerned and focussed on the technical issues pertaining to the software. After selecting the
vendor and software package, the CRM project team was expanded to include more personnel and
was responsible for business process change, migration activity, testing, implementation and the
initial maintenance of the software system.
The first major problem for the project implementation team was the selection of the project team
itself. The project team was selected at random and this caused some discontent.
Uncharacteristically for ELMS, some of the excluded staff felt undervalued by senior managers,
others felt they lacked influence and queried the method for valuing their intellectual capital. Some
of those with high levels of pertinent knowledge, such as sales engineers, did not feel engaged or
empowered. This resulted in a fear of CRM, that it was about efficiency or cost-cutting exercises.
This resulted in a perception that CRM would replace or de-skill their knowledge and contributions
to the organisation and result in staff redundancies. In reality the selection process and lack of initial
communication was more due to the inexperience of project management within the company. The
project team failed to respond to such concerns immediately and although the fears were ultimately
misplaced and later resolved, this was an unfortunate start to the project. For ELMS the CRM
7. systems migration was a complex operation. The migration exercise relied heavily on the
commitment of the key employees to resolve issues such as the effective cleansing and the
codification of customer data. Because of the delay in enlisting the support of key staffs, the
migration exercise drifted, taking four times longer than projected.
After implementing the CRM system, problems began to occur at the operational and analytical
level. The company failed to appreciate the significance of using CRM to effectively target
customers and of the need for systems integration. Targeting customers via CRM was only
identified as a requirement after purchase, unfortunately the package fails to perform this task
effectively. Furthermore, the software package is unable to integrate with many other enterprise
applications. This results in duplication of tasks and the maintenance of multiple systems with the
prospect of data inconsistencies. In terms of targeting and integration, the company are faced with
the prospects of paying additional costs for software configuration or to abandon the system, write
off the expenditure and source a new CRM package.
Regarding operating CRM, the next issue involved changing business processes to align with the
CRM system. For ELMS there were difficulties in moving to a process orientation. The need to re-
engineer was problematic due to organisational legacies. Despite the appearance of excellent co-
operation between departments, front-office employees were regularly criticised for failing to
appreciate the resource capabilities of the company and making promises to customers that could
not be met. Back-office employees were also criticised for complacency and because they were
often shielded from customer and competitor demands, there was little incentive to test the
capabilities of the logistic operations. For ELMS, the reality of deploying CRM was to move towards
a customer-facing culture. By the end of the study this had not been realised. The transition will take
much longer and require more effort than expected.
The research findings highlight that the ELMS CRM strategy, hampered by an ineffective software
tool is largely failing to meet the company expectations. The latest redesign of the corporate Web
site is fairly revealing, it lacks functions that competitor sites offer such as: online quotation and
order capabilities, technical help sections and customer comment facilities. Thus, the company is
struggling to compete effectively in its environment and is prone to the loss of its relational
customers to their savvy competitors. At the end of the study, it was apparent that the level of
competition for customers had increased. Some competitors were using CRM successfully to collect
detailed data about customers. Competitors were becoming more knowledgeable about who and
where the relational customers were and in respect of the nature of their requirements and
expectations. Consequently, they were targeting such customers with a range of more attractive
goods and services. One particular competitor had used CRM to tailor a range of offers to
customers that were innovative and highly seductive. Traditionally, customers in this sector
experienced high installation and maintenance costs with products. The competitor now offers
customers products free of all costs, in return for exclusive rights to use the products to generate
advertising revenue. At the end of the project, the failure of the ELMS CRM system to deliver such a
response was a serious cause for concern, resulting in a major threat and evident erosion of a
significant market position.
In general, although the ELMS CRM system is fairly beneficial in terms of some responses to
external forces, its achievements are fairly limited. The software facilitates unprecedented storage
of customer data, although it is restricted in terms of operational, analytical and collaborative
capabilities. The strategy has involved a shift towards a holistic work ethic. Nevertheless, there is a
significant amount of business process change that needs to occur to make the CRM strategy more
effective. It would appear by the end of the study, that ELMS are far from delivering a truly
customer-centric culture and are losing ground to some of their competitors who have.
Discussion
8. The case study highlights the similarities and differences between the theory and practice of
implementing effective CRM strategies. For ELMS, leadership became an important and
problematic activity. There are lessons to be learnt from Galbreath and Rogers (1999) in terms of
the adverse consequences of not creating a vision or strategic direction for the project. The project
management success factors framework of Pinto and Slevin (1987) may also have been useful in
helping to overcome the inexperience in terms of project management, the failure to address project
ownership issues and the need to recognise the problems in organisational communication.
Furthermore the need to acquire expertise in sourcing and to learn from previous experiences is
also highlighted. To their credit ELMS did recognise that they lacked certain competencies in certain
areas and they were open to the idea of seeking external expertise, training and consultancy
wherever necessary. However, by the time they entered into their second sourcing contract with
software vendors, they had failed to learn sufficiently from the costly experience of their first. This
was evident in a number of ways. First ELMS failed to negotiate with more software vendors to get
the most appropriate and competitive solution. They did not insist on observing the software
working in another organisational setting, thus missing an opportunity to learn from adopters. They
failed to trial the system or negotiate a performance-related contract. Finally, they failed to have a
contingency strategy in place to resolve problems or to implement alternative solutions. Such pitfalls
did result in compromises in the functionality of the system. However, it should be said that ELMS
still believed that the decision to outsource was a major success with levels of functionality acquired
within a timeframe that were far in excess of what would have been achieved in-house. The
research also shows that vendor claims that CRM can be rapidly and effectively implemented are
highly misleading. It is no surprise that organisations such as ELMS are failing to prepare for CRM
appropriately. The case supports the theory by Girishankar (2000) that CRM is a holistic and
complex strategy and also supports Light's (2001) view that CRM involves business process
change and IT integration, for ELMS this will take a considerable time to achieve. Finally the
empirical study highlights the importance of targeting and delivery as argued by Newell (2000).
Although the ELMS CRM system is weak in delivering such analytical capabilities, evidence was
emerging that competitors were more effective here and that they were using such capabilities to
poach profitable customers.
Conclusion
The results of the study are cause for concern, for they support the findings of other surveys that
show a high failure rate for CRM. This research was conducted because of the relative lack of CRM
empirical studies, particularly within this business sector. This modest contribution has identified
and analysed some of the approaches and theories relating to CRM and CRM project
implementation. The study confirms that CRM is a complex and holistic concept requiring
appropriate business processes and integrated systems. In addition, the study demonstrates the
relevance of the need for effective leadership, sourcing, targeting and evaluation within CRM
strategies. The ELMS case is an archetypal study of a CRM implementation that has failed to
deliver in these core areas and where many lessons can be learnt by other adopters. It is an
interesting example of the affect of CRM and how it is forcing companies to change. Despite a
decade of developments in respect of business process change, systems integration and
information sourcing, it is only now with the threat of CRM centric competition, targeting customers
effectively, that ELMS are exposed by their indifference to change in such areas. The impact of
CRM is real and so are the problems for certain organisations in terms of successful
implementation. This is a disturbing scenario because of the accumulation of diverse and complex
factors that now need addressing, the lack of expertise to resolve them and the lack of time in which
to respond appropriately. Thus, there is a great need for additional empirical research within CRM
to identify the extent of such issues, the state of organisational effectiveness and for additional
insights. This particular research is ongoing and will aim to develop and expand on the issues
raised by conducting more empirical studies.
[Sidebar]
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9. [Sidebar]
The current issue and full text archive of this journal is available at
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[Footnote
]
Note
[Footnote]
1. The author recognises the deluge of figures and predictions regarding the uptake of software and that these
can be contradictory, as highlighted in other studies such as Markus and Tanis (2000). The figures presented
here are used solely as an outline for the growth of CRM.
[Reference] » View reference page with
links
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[Author Affiliation]
Christopher Bull
Department of Business Information Technology, Manchester Metropolitan University Business School,
Manchester, UK