Fundamental Elements of Customer Relationship Management

• Author: Ismana-Ilisan C.-M.
• Position: Transilvania University of Brasov
• Pages: 81-88

Bulletin of the Transilvania University of Braşo v

Series V: Economic Sciences • Vol. 11 (60) No. 2 – 2018

FUNDAMENTAL ELEMENTS OF CUSTOMER

RELATIONSHIP MANAGEMENT

Camelia-Maria ISMANĂ-ILISAN1

Abstract: Current consumers have more information and options than

before to gather product information and decide what to buy and where to

shop. Thus, consumers can find out about new products via TV, radio, the

press and online advertising, social networking sites (Twitter, Facebook, etc.)

and can immediately compare prices with online comparators and then shop

online from the web, from a catalogue, contact centre, or store. Merchants

need to develop their organizational and functional capabilities, as well as to

implement the most appropriate tools and techniques to influence the

consumer.

Key-words: loyalty, customer relationship management, consumers,

marketing 1.0, 2.0, 3.0, 4.0

1. Introduction

Marketing has been one of the most exciting topics in the business world over the past

decades. Practically, marketing concepts have evolved from product focused

management (Marketing 1.0, in the words of P. Kotler) to customer focused

management (Marketing 2.0), then evolving towards Value-Oriented Management

(Marketing 3.0), and we develop Customer Relationship Management (Marketing 4.0).

Organizations that will focus on creating customer relationships are the ones that will

dominate the market regardless of the field, and for this they need to develop a

customer relationship management system.

2. Defining the Concep t: Customer Relationship Management (CRM)

There are many points of view regarding conceptual clarification of customer

relationship management (CRM). Until now, specialists have not opted for a single

definition of CRM, which proves that this area is still in a phase of exploration and

development. However, an undeniable aspect is the very important role that effective

customer relationship management has in sustaining the o rganization's sustainable

development. One of the most relevant arguments that support business and managers'

interest in CRM is that a 5% reduction in the number of clients lost by the organization

1 Transilvania University of Braşov, cismana@gmail.com