Relationship Management

Relationship Management

ADARAN AYODOTUN OLUKUNLE

The term customer relationship management (CRM) gained widespread recognition in the late 1990 s.Various various researchers have shared views of application. It has attracted such great attention because of the emphasis that it can give both the customer and organization. For the organization, it is said that customer retention can enhance profitability, it was suggested that there are benefits of lowered sales costs and increased revenues, which are supported by the surveys done by [4]

Using the concept of relationship marketing (RM) as the basis, it is stressed that this approach can create long-term value for customers. It explains that CRM is about management of the lifetime value relationship with customers through the use of information technology. “The relationship between rate of effective IT use and relationship effectiveness would be positive” Nevertheless, technology is an enabler of the process required to turn strategy into business results. The most significant part of CRM is human aspects- the long-term relationship between the customer and organization. [4]

According to research, “The drive for quality in products and services is apparent worldwide and that the pursuit of customer satisfaction increasingly is becoming a corporate goal”. Further, recent evidence suggests that quality management programs have had a positive effect on the financial performance of organizations. This is the bases of relationship management which according to [7] “CRM is the values and strategies of relationship marketing-with particular emphasis on customer relationships turned into practical application” also defines relationship management as “the infrastructure that enables the delineation