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Economics of Strategic Marketing Management: A discourse on conceptual and operational definition of customer relationship management
University of Gävle, Department of Business Administration and Economics, Ämnesavdelningen för företagsekonomi. (Gruppen för Interaktiva Affärer (GIA))
2004 (English)In: 13th International Research conference on Management of Technology, 2004, 25- p.Conference paper, Published paper (Refereed)
Abstract [en]

This study focuses on the interface between strategic marketing management and information technology. It aims to identify suitable means of information technology to be used to enhance business efficiency with a focus on customer relationship management. The Internet and other technological developments are enabling marketers to reach customers in more interactive ways and to form much closer relationships with them. Customers are also discovering more of a voice, and realising that the information they provide so freely in questionnaires, coupons and so on is actually of immense value to present day company.

These and other developments are leading to a new marketing manifesto for marketing, advertising and branding. At the same time, it is next to impossible today to open a business publication without seeing an article about customer relationship management (CRM). But while many have been quick to describe customer relationship management potential and offer advice about how to make it work, findings from a pilot study conducted in conjunction with this study show that, only a handful of companies have succeeded in doing so. Moreover, majority of customer relationship management projects do not meet their return on investment objectives.

This study arrives at a number of conclusions. First, customer relationship management (CRM) initiatives not only failed to deliver profitable growth, but also had damaged long-lasting relationships. Second, CRM is a strategic business and process issue, not only a technology solution as most often conceived. Third, the theoretical and methodological limitations inherent in current literature on CRM is attributed not only to their questionable empirical base and normative bent, but also, attempts so far made to define CRM have been varied and many neatly reflecting the diverse academic and socio-political backgrounds of CRM scholars. Thus, a lack of consensus and conflict over the “basic” meaning of CRM. Fourth, a theoretical model upon which future empirical analysis should be based when conceptualising CRM should consists of a business strategy, a business philosophy and a database application, thereby forming a tripod. Moreover, a systematic analysis of both the supply and demand side of the company should be envisaged. Otherwise, the current marketing theory which guides the movement of CRM, the so-called one to one marketing philosophy, which is more profit-centric than customer-centric that it claims to be will, continue to prevail.

Keywords: Customer relationship management process, customer-centrism philosophy, business philosophy, actual and strategic values, strategic marketing management, strategy theory, service management system

Place, publisher, year, edition, pages
2004. 25- p.
Identifiers
URN: urn:nbn:se:hig:diva-1795ISBN: 0-9712964-6-4 (print)OAI: oai:DiVA.org:hig-1795DiVA: diva2:118457
Conference
13th International Research conference on Management of Technology, Washington, D.C. April 3-7 2004 April
Available from: 2008-06-02 Created: 2008-06-02 Last updated: 2011-08-12Bibliographically approved

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