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    Evolution of Customer Relationship ManagementThe early adoption of Customer Relationship Management (CRM) started in the Business to Customer (B2C) market. Later, the Business to Business (BNB) companies also adopted CRM strategies.The four major drivers of the growth of CRM are: The emergence of the service economy, Global orientation of business, The emergence of the market economy, Aging population. 
    Effects of Customer Relationship Management:
    The major challenges of CRM are: Non-traditional competition,Misalignment between revenue and profits, Market maturity. The major reasons companies should adopt CRM are: Rise in customer expectations, Affordable technological advancements in CRM, Improvement and connection of multiple operations and processes. 
    Concept of Customer Relationship Management
    Customer Relationship Management (CRM) is a comprehensive strategy and process of acquiring, retaining, and partnering with selective consumers to create a superior value for the company and the consumer. The elements of CRM are: Customers' knowledge,Communication, Relationship strategy, Individual value proposition. 
    Introduction to Co-Creation
    Co-creation is an organization’s attempt to collaborate with customers, stakeholders, and even sometimes with competitors to develop new solutions. The three primary objectives of Co-creation are: Idea generation, Creation of the prototype of a new product or service, Refinement of products or services. 
    Value Co-creation
    Value creation takes place when both the consumer and organisation are involved. The created value is absolute to every customer and sustainable to the organisation. A customer is a co-creator of value to a company. The four elementary components of co-creation, as suggested by the DART model, are: Dialogue | Access | Risk Assessment | Transparency The types of customer co-creation are:Collaborating | Tinkering | Co-designing | Submitting