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Knowledge Management Today

In: Customer Knowledge Management

Author

Listed:
  • Soumit Sain

    (European University of Economics and Management)

  • Silvio Wilde

Abstract

Customer Relationship Management (CRM) has been a much-discussed issue for many years now. If customers and customer relations are effectively managed, it can finally enhance the company’s profitability. “However, CRM for corporate clients is not just related to ‘hard’ factors”. CRM is a very complex topic. Apart from ‘hard factors’ like databases, managing customer relationships also requires ‘soft factors’ like relationship development. A successful relationship development can establish loyalty among customers, especially with a high customer lifetime value. The customer value for the company can be measured, among others, in terms of customer satisfaction and competitive edge. Creating customer satisfaction requires a shift from market to customer orientation, which means increasing the focus on the customer.

Suggested Citation

  • Soumit Sain & Silvio Wilde, 2014. "Knowledge Management Today," Management for Professionals, in: Customer Knowledge Management, edition 127, chapter 1, pages 1-6, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-319-05059-1_1
    DOI: 10.1007/978-3-319-05059-1_1
    as

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