Important Elements in Customer Relationship Management

Mandić, Miroslav

doi:10.5848/apbj.2011.00070

Cited by 5 publications

(4 citation statements)

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“…It is a strategy strength the relationship between a firm and its customer, metamorphose links into friends and partners. In another study, Mandic [8] also argued that CRM can be employed as a survival strategy in order to manage relationship marketing, and create a win-win situation between companies, and customers being loyal in return.…”

Section: Introductionmentioning

confidence: 99%

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Customer Relationship Management and Small and Medium Enterprises Performance: Pragmatic Evidence from Oyo State, Nigeria

Bukola

Abosede

Adesola³

2019

AJESS

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Introduction: Customer Relationship Management (CRM) has been noted for survival strategy for business organizations especially in today's customer-oriented business world and intensely competitive environment. Aim: This study sought to examine the influence of CRM on the performance of SMEs in Oyo State, Nigeria. Study Design: Purposive sample technique was adopted to select 20 SME operators each from Ibadan, Oyo Town, Iseyin, Ogbomoso, and Saki, respectively totaling 100 participants as a sample size for the study. The data collection instruments for the study were structured questionnaires designed for the study. Data analysis was performed with the aid of mean, standard deviation, Pearson Product Moment Correlation Co-efficient (PPMCC) and Ordinary Least Square (OLS) method of estimation. Results: The results revealed that CRM measured by customer orientation, service quality and personalized of services have a significant influence on SMEs’ performance. In conclusion, customer relationship management is an alternative paradigm to the survival of SMEs in today’s cut-throat competitive environment. Conclusion: Based on the findings, the study recommended that SME operators should always treat their customers like Kings and Queens and their opinion should be sought before making a decision that is binding on them. Also, SME operators should be designed with a feasible customer relationship strategy that can identify potential and profitable customers to enable tailoring products and services to their needs.

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Section: Introductionmentioning

confidence: 99%

“…A plethora of studies on CRM has been carried out by academic scholars from diverse fields of study in both advanced economies and developing economies [7,8,9,10,11,12,13,14]. However, most of the studies focused on large organizations while small size organizations have not been explored especially in Nigeria.…”

Section: Introductionmentioning

confidence: 99%

Customer Relationship Management and Small and Medium Enterprises Performance: Pragmatic Evidence from Oyo State, Nigeria

Bukola

Abosede

Adesola³

2019

AJESS

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“…In addition, companies need to be able to create a winwin situation through such added value to customers and, in return, receive their loyalty. Without a quick and constant flow of information, the lines of communication will be slow, the decision-making process will be more complex and the performances delivered will be reduced by inefficient information activity [39,40]. CRM is meant to support a company's strategy to build an effective customer relationship.…”

Section: Customer Relationship Marketing (Crm)mentioning

confidence: 99%

Customer Relationship Marketing and Institutional Support Influence on the Women’s Companies Sustainability in Serbia

2021

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Current sustainability challenges require businesses to develop their relations with customers and markets through relationship marketing and jointly create added value of their services responsive to environmental, social and economic requirements at the same time. This article also supports the gender equality within the SDGs (fifth goal). As (SMEs Report, 2018) micro companies make 89.137, small enterprises make 11.219, entrepreneurs in shops and services sectors make 272.969 and cooperatives in agriculture and food trade make 1.196, they comprise most of the SMEs sector in Serbia, while Medium-sized firms make 2.517, and large enterprises make 540. Female entrepreneurs, which represent 32% of all SMEs and 22% from cooperatives were selected for the research sample with the aim to primarily represent the sectors their businesses operate within. The empirical research was provided in Serbia in 2021 on the sample of 220 female enterprises, shops and cooperatives, most of which operate in service sectors. The aim is to indicate the importance of the institutional factors (IF, government support) and customer relationship marketing (CRM) and their influence on the sustainability of the women’s enterprises (WES). Findings show that CRM significantly impacts the WES, showing that the market and customer loyalty are the most important for the sustainability and resilience of the business. At the same time, results show the importance of the IF government measures’ and policies’ influence and reveal that insufficient attention that has been dedicated to (WES) and SDGs goals of gender equality in feminist economics.

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“…CRM is claimed to be a technology management tool to gain customer knowledge and maintain and increase lucrative relationships, which gives companies a better understanding of their customers and how to create more value for them [11]. Based on the understanding of what CRM is, it reflects that CRM put the focus on customers and their satisfaction therefore all company's activities are customer-driven [12,9]. According to Marko, Dusica, Luka and Zvonimir [1], CRM concept implies continuous changes on customers and bank side.…”

Section: Concept Of Customer Relationship Managementmentioning

confidence: 99%

Customer Relationship Management Dimensions and Nigerian Banks’ Performance: Evidence from Zenith Bank Plc

Ayo-Oyebiyi¹,

Ladokun

Taiwo³

2019

SAJSSE

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Today, customers are looking for benefits from the bank, better service, lower transaction fees, higher interest rates, a sign of prestige, new products access from different channels. This study evaluates the influence of CRM dimensions on bank performance. Zenith Bank Plc was selected through purposive method, while judgmental sampling technique was also used to select Head of Operation, Accountant, Auditor, and Branch Manager from its 35 branches in Lagos, Nigeria, totaling 140 respondents as a sample size for the study. Multiple regression analysis, Ordinary Least Square (OLS) method of estimation was employed to analyze the data. Results revealed that CRM dimensions (customer involvement, long-term relationship with customers, joint problem-solving and information sharing) jointly and independently influence bank performance measured by customer satisfaction, deposit mobilization and profit level. Subsequently, the study recommended that management of Nigerian banks should be actively involved in changes in organization in order to spread positive vision of CRM concept and to support organizational change.

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Important Elements in Customer Relationship Management

Cited by 5 publications

References 0 publications

Customer Relationship Management and Small and Medium Enterprises Performance: Pragmatic Evidence from Oyo State, Nigeria

Customer Relationship Management and Small and Medium Enterprises Performance: Pragmatic Evidence from Oyo State, Nigeria

Customer Relationship Marketing and Institutional Support Influence on the Women’s Companies Sustainability in Serbia

Customer Relationship Management Dimensions and Nigerian Banks’ Performance: Evidence from Zenith Bank Plc

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