From the technology perspective, companies often buy into software that will help to achieve their business goals.
The Customer Life Cycle (CLC) has obvious similarities with the Product Life Cycle (PLC).
The Business Strategy perspective has most in common with many of the lessons and topics contained on this website, and indeed within the field of marketing itself. Customer Relationship Management is the establishment, development, maintenance and optimisation of long-term mutually valuable relationships between consumers and organisations. Marketing Teacher designs and delivers online marketing courses, training and resources for marketing learners, teachers and professionals. Containing the best and most innovative advice from the operations and procurement experts at consultant AT Kearney, this book shows that SRM is at root a strategic discussion requiring cross-functional interaction and internal alignment at the highest levels.
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If you are undertaking higher-level academic work you need to clarify with your tutor, the nature of his or her preferred model. For many, CRM is far more than a new software package, the renaming of traditional customer services, or an IT-based customer management system to support sales people. However, CLC focuses upon the creation of and delivery of lifetime value to the customer i.e.
It requires an honest appraisal of the value that suppliers now bring to your firm, as well as their potential value.
However, IT is vital since it underpins CRM, and has the payoffs associated with modern technology, such as speed, ease of use, power and memory, and so on.
Our model contains three key phases – customer acquisition, customer retention and customer extention, and three contextual factors – marketing orientation, value creation and innovatove IT.
It then requires a frank and constructive business-to-business dialogue about how to improve the relationship.
Or they think it's all about bashing your vendors over the head until they reduce the price another 4%.

When this happens, a company reaps myriad benefits, ranging from new opportunity to added value to competitive advantage - and, quite likely, to overall (and sometimes substantial) cost reductions. This is based upon a definition of marketing that considers marketing as a mutually satisfying system of exchanges (for example Baker 2002).
Essentially, CLC is a summary of the key stages in a customer’s relationship with an organisation. Supplier Relationship Management: How to Maximize Vendor Value and Opportunity changes all that. The business strategy is based upon the recruitment, retention and extension of products, services, solutions or experiences to customers.

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