Role and Importance of CRM in Global Competitive Environment

ALABAY, M. Nurettin (2010) Role and Importance of CRM in Global Competitive Environment. In: 2nd International Symposium on Sustainable Development, June 8-9 2010, Sarajevo.

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Abstract

Information and communication technologies (ICT) which has flourished due to spread of microchip technologies during 1970s, created internet which interconnects entire world and eliminates the classical understanding during 1990s. The fact that electronic trade and several other transactions could be performed through internet which developed as a result of widespread use of internet, created a global economy. The knowledge in the global economy, left behind the production factors which are known as labor, capital, natural resources and entrepreneurship, has become a standalone production factor. The developed information technologies caused human-oriented approaches to flourish and production processes to restructure. With the emergence of customer-oriented approaches, the production process has become "discovering what the customer wants and produce that thus makes profit by satisfying the customer in this fashion". Marketing function within the enterprise became a leading factor even more than the production process and marketing position has become the function of all employees of the enterprise. The enterprises which fail to satisfy their customers, have become weaker economically and cannot survive. As a result, while developed information and communication technologies enabled globalization, the customer has become the most important element in the global economy and those enterprises which can sell whatever they produce, have been replaced by those enterprises who produce and sell whatever the customer wants and competition has been increased leading to global competition which influence entire world. The enterprises which have been deprived of competitive power through the classical marketing mix (product, price, distribution, promotion) now have a tendency towards customer relationship management (CRM). CRM is now used as a new name of the marketing. Introduction

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > HB Economic Theory
Depositing User: Mr. Ibrahim Kinal
Date Deposited: 03 Feb 2012 08:23
Last Modified: 02 Mar 2012 10:24
URI: http://eprints.ibu.edu.ba/id/eprint/222

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