The objective of this research paper is to study CRM practices towards selected gems & jewellery retailers. This research is conducted in Pune city and a survey method was used to collect the data from 20 Gems and Jewellery retailers and 40 customers. Gems and jewellery sector is an integral part of the nation’s economy with its huge potential. The jewellery market is one of the largest consumer sectors in the country- larger than telecom, automobiles, and apparel and perhaps second only to the foods sector. Today in the highly competitive market, increasing customer demands retail outlets realize the importance of customer relationship management. Customer Relationship Management (CRM) is one of the most popular business strategies that have been adopted among researchers, house-building companies, institution and organizations nowadays. The lack of understanding on Customer Relationship Management (CRM) is always a concern among the service providers especially retail outlets, retailers have their own way of managing their relationships with the customers.
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Journal of Business Market Management
Over the last decade and a half Customer Relationship Management (CRM) has developed into an area of major significance. However, there is considerable confusion in the academic and managerial literature about what is meant by CRM and how if differs from relationship marketing. Further, despite heavy investment by organizations in CRM, there is extensive reporting of CRM’s failure to achieve anticipated results in the literature. This article reviews the conceptual differences between CRM and relationship marketing and defines these terms. It argues that, in many organizations, CRM failures have occurred through a lack of strategic focus. Key strategic issues are identified. A CRM Strategy Matrix is presented which considers the strategic context of companies and the implications for the development of their CRM strategies. Four alternative approaches towards building customer relationships are identified and migration paths between them are reviewed. Implications for implementing CRM strategy and future research are discussed.
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Customer Relationship Management (CRM) plays a prominent role in enabling businesses to meet their customers’ needs, and therefore it acts as a catalyst in the process of creating and delivering value to them. As CRM concerns managing customer knowledge, it can be considered as a subset of Knowledge Management (KM). Therefore, in this study, the effort has been made to propose a Customer Knowledge Management (CKM) process model to compensate the existing lack of a study integrating CRM and KM with the aim of customer value augmentation. In this CKM model, all forms of CRM are employed to support all the phases of CKM. Finally, a home appliances case is studied to illustrate the proposed CKM model.
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Due to the tough competition in the banking industry in Jordan, it is very necessary for financial institutions to build and maintain a strong relationship with the customers in order to achieve the ultimate goal of customer satisfaction. For this reason customer relationship management (CRM) has become more important in the service industry; especially in the banking industry. Therefore, the present study came to focus on the impact of CRM on customer satisfaction in banking industry of Jordan. The population of the present study is customers of Jordanian banks operating in Amman city, the capital of Jordan. 528 respondents were selected through convenient sampling and data has been collected through questionnaires which were self administered by researcher. The study proposed that there is no statistical relationship between CRM elements and customer satisfaction as a dependent variable. The statistical analysis revealed that there is a significant relationship between the independent variables(i,e CRM elements represented by service quality, employee's behavior, customer data base, solving customer problems physical environment; and social network interaction) and customer satisfaction as a dependent variable in the services banking industry.
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