Contents

• Executive Summary 2
• Introduction 4
• Literature Review 4
• Customer Relationship Management – Definition & Evolution 4
• Strategic value of CRM 5
• Advantages of CRM 6
• Challenges & Disadvantages of CRM 7
• CRM & the costs involved 8
• CRM & its strategy of success 9
• CRM & its Impact 10
• Conclusion 10
• Appendix 11
• References 12

Description

For the purpose of the paper, it was understood the strategic value of the CRM in organizational performance, and how the CRM can help organizations achieve their set strategic objectives. For organizations implementing CRM in a successful fashion, will be benefitted by gaining a loyal customer base and higher profitability. The implementation of CRM has its own set of associated challenges, and viewing CRM as a mere technological tool has its own shortfalls. In order to achieve a successful CRM implementation, the organization needs to undergo consolidation and integration and achieve a delicate balance between the technology, process and the people. A case study depicting the strategic value of CRM and its implementation is attached at the last section of this paper, to make the understanding more focused and effective.