CRM stands for Customer Relationship Management. It aims to establish profitable, one-to-one relationships with customers by understanding their needs, preferences, and expectations. This is achieved through mass customization and relationship-based, one-to-one marketing rather than mass production and transactions. The key components of a CRM system integrate the customer lifecycle phases of prospecting, lead generation, transactions, and retention into three major processes: solicitation, lead-tracking, and relationship management.

1. CRM
Customer Relationship Management
- Sumeet Milton Main (182200030)

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4. Traditional Marketing CRM
Goal: Expand customer base, increase
market share
Goal: Establish a profitable, one-to-one
relationship with customers;
understanding their needs, preferences,
expectations
Product oriented view Customer oriented view
Mass marketing / mass production
Mass customization, one-to-one
marketing
Standardization of customer needs Customer-supplier relationship
Transactional Relationship Relational approach
Traditional vs CRM

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8. Building Blocks of CRM

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10. A CRM system integrates all four phases of the customer life cycle into three major processes.
These processes are solicitation, lead-tracking, and relationship management. The diagram
above depicts the four phases and the three major processes. It shows the flow of phases and
what each phase means.

13. Thank you.