Customer Relationship Management in Luxury Hair Salon Essay

Customer Relationship Management in Luxury Hair Salon - Essay ExampleThus, Nevin submits marketing a bit broader than the CRM, though he does not negate the significance of customer relationship management.Customer relationship management has been the matter of special attention for the organizations, marketers, investors, and retailers. Feinberg et al. rich person conducted their research with a special concentration on CRM in electronic retails under the title The State of Electronic Customer Relationship Management in Retailing and concluded that it is customers which serve as the pivotal point around which all the activities and schemes of the business environment revolve. A business and marketing strategy, they submit, aims to commix its technology, productivity, and all business activities around the customers of the organization. (2002 p 473) Hence, they viewed customers and their satisfaction as the asset of the companies, without the help of which no strategic policies cou ld be adopted or implemented.Parvartiyar & Sheth have strived to stick out the relationship of marketing with the customer relationship management. CRM, according to them, represents an enterprise approach to ontogeny full knowledge about customer behavior and preferences and to developing programmes and strategies that encourage the customers to continuously enhance their business relationship with the company. (2001 p 2-3) The writers are of the view that customer relationship management is highly supportive in entirely understanding the growing needs and requirements of the customers, which is the most valuable issue for the growth and development of the organization.Hill, in his article, vehemently emphasizes upon the capturing of profitable customers for the enhancement of marketing and sales. The most important thing in sales and marketing, he views, isto attract and retain your most profitable business customers. In order to accomplish this feat, you must plan and implem ent a customer strategy that builds, fosters, nurtures and extends relationships with your customers. Your company profits only when the earnings from retained customers exceed the costs to acquire and to service customers over time. (Retrieved from Helium.com)