The Role of CRM in Maximizing Customer Satisfaction

Seminar paper from the year 2020 in the subject Business economics - Customer Relationship Management, CRM, grade: A+, Coventry University (Faculty of Social Sciences), course: Business Management and Marketing, language: English, abstract: Customer Relationship Management (CRM) has garnered substantial interest from both market practitioners and academic researchers due to the increasing competition and limited consumer base in today's globalized economy. As products and services become more homogenized, organizations seek innovative strategies to remain competitive, often resorting to price reductions. Concurrently, empowered consumers with access to abundant information demand heightened levels of care from organizations, shifting the balance of power towards the customer. Consequently, fostering strong customer relationships has emerged as a critical competitive advantage for organizations aiming for profitability. The study's significance extends beyond organizational practices to contribute valuable insights to CRM literature and knowledge. By examining the requirements and processes of CRM, the research aims to inform stakeholders such as policymakers, organizations, researchers, and academia about effective customer relationship management strategies. Additionally, the study aims to enrich the body of knowledge in related fields, laying the groundwork for future research endeavors.

Nashra was born with an insatiable curiosity that led her on an extraordinary journey of knowledge and discovery. From a young age, she exhibited a natural inclination towards understanding the world around her, always asking probing questions and seeking answers beyond the surface. This unyielding thirst for knowledge eventually propelled her towards a remarkable career as a dedicated researcher. Growing up, Nashra's inquisitive nature was nurtured by her supportive family and teachers, who recognized her intellectual potential. She was encouraged to explore various fields of study, and she eagerly delved into subjects such as physics, biology, and mathematics. Fascinated by the mysteries of the natural world, Nashra found herself particularly drawn to the realm of business research.