Customer Relationship Management As A Philosophy - 1253 Words

1.1 Background Customer Relationship Management as a Philosophy started in the 70s. Peter Drucker, a well-renowned management consultant, stated that The true business of every company is to make and keep customers. Today, the concept of CRM has grown in a global scale. Companies have evolved to focus products solely based on customer’s demands. Over the years, the CRM model does not limit to just being about customer centric but also to use customer profitability as a catalyst in making decisions. [2] †¢ In 1980s: CRM was based on Database Marketing, i.e. by collecting and analyzing customer information. †¢ In 1986, ACT! Introduced their contact management software to the businesses which allowed for the efficient storage and organization of customer contact information. †¢ In 1990: CRM systems evolved towards sales force automation (SFA). SFA involved features of database marketing, combined with CRM. †¢ In 1993, Tom Siebel left Oracle to create Siebel Systems with primary focus to create CRM products on Sales modules. With growing popularity in SFA, Siebel systems started to introduce customized products to suit multiple industries. †¢ In 1995, SFA and contact management have become part of CRM software. There were similar names to CRM as enterprise customer management (ECM) and customer information system (CIS) were in use but by the end of 1995, CRM was widely used. †¢ During the late 90’s several Enterprise resource management (ERP) vendors like Oracle, Baan and SAPShow MoreRelatedApplication Of Advanced Micro Devices1026 Words   |  5 Pages(AMD) is a customer-oriented company that manufactures computer processors and memory chips and supplies its products to various technological companies worldwide. 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Ideas and philosophical outlooks on life and management can have significant impacts on the lives of othersRea d MoreThe Evolution of Modern Marketing Essay1154 Words   |  5 PagesIntroduction In order to understand marketing one must first analyze the history of production and sales as it advanced into a marketing based approach to customer satisfaction. By definition according to rdi, â€Å"marketing is a business philosophy, the process responsible for anticipating, identifying and satisfying customer current and future needs†(rdi, 2011). To appropriately cognize marketing, one must acknowledge the evolutionary progression that transpired allowing the concept of marketingRead MoreBusiness Relationship Management : Dell Inc. Essay1564 Words   |  7 Pagescurrent times of fierce and harsh competition, customer-relationship management is emerging as an essential and critical factor in the process for companies to win the loyalty of their customers. 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