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Showing posts from April, 2017

CUSTOMER RELATIONSHIP MARKETING

Traditionally, concept of marketing was just confined to selling of product or service, that is, selling whatever the firm needed to. Little heed was paid to influence buying decision of customers. Somewhere or the other, the reason was lack or little competition in the market. With the evolving time, competition increased and many firms rose in the market providing homogeneous and heterogeneous products. It became hard to attain greater profits and stand out in the market. To differentiate itself from others, a firm needed to adopt such strategy by which customer loyalty would increase leading to greater sales and greater profits. The market, till now, was product-focused and now was the era of customer-focused market. Now, the firm focused on achieving more customers. The various strategic building blocks for implementing it was coming out to understand needs and desires of customers, rather just by imposing products to them as was previously done.  The firms started from t