Sample Business Studies Paper On Customer Relationship Management

Homework Question on Customer Relationship Management

  1. You have to be specifically writing about Customer Relationship Management as much as you can.
  2. You have to use one reference from the book which is  Baltzan, P., Detlor, B., & Welsh, C. (2012). Business Driven Information Systems (3rdCanadian Edition).McGraw-Hill Ryerson.
  3. You will find the information about the Customer Relationship Management in chapter 6 in page 169 to 196.

Homework Answer on Customer Relationship Management

Importance of Customer Relationship Management to businesses

Profit maximization is among the goals of a business, but this can only be achieved if the business has a good reputation for customer satisfaction. A successful business is the one that satisfies the customers more than their expectations and in a better way than the competitors. The varying preferences and tastes of the customers necessitate the changes in business operations over time.  The shift in business has changed over the past years from a product-based system to a system that is more concerned with customer satisfaction.

Before making any changes in the products or services that a business offers, it is important to consider the tastes of customers. To effectively achieve this, there is a need for formulation and implementation of an appropriate system of customer relationship management. The system is vital in helping the organization understand all its customers thus making it easy to manage them. For instance, it is possible to segment the customers, according to their level of the investment using the system.

Homework Help

Although the CRM and CRM systems are efficient in increasing the customer satisfaction, some businesses still lag behind in adopting the system.  This reduces the profitability of such companies due to poor customer satisfaction. It is, therefore, important to identify the importance of CRM to businesses so as to promote profitable businesses. However, effective implementation of CRM, businesses are able to improve the quality of the products at affordable prices.