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Customer Relationship Management – A Strategy For Companies To Establish A Competitive Advantage

Author

Listed:
  • Goranova, Penka

    (D. A. Tsenov Academy of Economics)

Abstract

Customer relationship marketing is complemented by the strategic vision of business development – customer management - which includes the following: customer analysis, customer contributions, life cycle, etc. The two visions - CRM and customer management - are essential for the development and higher competitiveness of companies. These processes tend to accelerate and intensify. They result from imposing a new consumer culture, which encompasses customers from both developed and developing markets who possess a creative approach to thinking, dynamics as a style of behaviour, and “global” citizenship as a social characteristic. Marketing specialists must have a unique ability to engage with the modern customer and must be able to give their companies direction and focus in order to achieve effective results that will ensure their image and success.

Suggested Citation

  • Goranova, Penka, 2013. "Customer Relationship Management – A Strategy For Companies To Establish A Competitive Advantage," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 4, pages 1-10.
    • Handle: RePEc:dat:bmngmt:y:2013:i:4:p:10
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    File URL: http://hdl.handle.net/10610/1579
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