Customer Relationship Management – Concept, Strategy and Tools

Hello readers,

Today I will review the latest book I read: Customer Relationship Management – Concept, Strategy and Tools by V. Kumar and Werner Reinartz published by Springer.

Customer Relationship Management is the strongest and the most efficient approach in maintaining and creating relationships with customers. Its not only pure business but also a strong personal bonding within people. Once this personal and emotional linkage is built, it is very easy for an organization to identify the actual needs of customer and help them to serve them in a better way.

Customer relationship management (CRM) as a strategy and as a technology has gone through an amazing evolutionary journey. The initial technological approach was followed by many disappointing initiatives only to see the maturing of the underlying concepts and applications in recent years. Today, CRM represents a strategy, a set of tactics, and a technology that have become indispensable in the modern economy. This book presents an extensive treatment of the strategic and tactical aspects of customer relationship management as we know it today. It stresses developing an understanding of economic customer value as the guiding concept for marketing decisions. The goal of the book is to serve as a comprehensive and up-to-date learning companion for advanced undergraduate students, master’s degree students, and executives who want a detailed and conceptually sound insight into the field of CRM.

This book presents an extensive treatment of the strategic and tactical aspects of customer relationship management as we know it today. It stresses developing an understanding of economic customer value as the guiding concept for marketing decisions. The goal of the book is to serve as a comprehensive and up-to-date learning companion for advanced undergraduate students, master’s degree students, and executives who want a detailed and conceptually sound insight into the field of CRM. The contents include:

– 1 The Role of CRM.

– 2 Relationship Marketing.

– 3 Strategic CRM.

– 4 Implementing the CM Strategy.

– 5 CRM Metrics.- 6 Data Mining.

– 7 Using Databases.

– 8 Software Tools and Dashboards.

– 9 Designing Loyalty Programs.

– 10 Campaign Management.

– 11 CRM and Multichannel Management.

– 12 Customer Management in B2B.

– 13 CRM and Consumer Behavior.

– 14 Application of CRM in B2B and B2B Scenarios.

– 15 The Future of CRM.

I highly recommend this book, for everyone that works or study marketing, business strategy or is interested in CRM, it’s a must have! The book provides a nice integration of academic thinking and practical CRM strategy and implementation. On the end of each chapter the authors included a Reference list, wich is great specially if you are using the book for research and also on chapter 4 they have some exercises questions.I  specially enjoyed the Case studies like the one featured on chapter 3 on the  CRM implementation at IBM.

To summarize with this book you can:

Obtain comprehensive understanding of CRM strategy, concepts and tools.

Benefit from numerous cases that show direct application of concepts making this material accessible and applicable.

Learn the latest developments in metrics, practices and substantive domains.

Content Level » Upper undergraduate

Keywords » Customer Lifetime Value – Customer Loyality – Customer Relationship Management – Database Marketing – Marketing Strategy

Related subjects » Business & Management for ProfessionalsMarketing

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