Customer Relationship Management as Tool to Enhance Competitive Effectiveness: Model Revisited. Issue 3 (September 2018)

• Record Type: Journal Article
• Authors: Sofi, Maraj Rahman; Hakim, Iqbal Ahmad
• Is Part Of: FIIB business review. Volume 7:Issue 3(2018)
• Page Start: 201
• Page End: 215
• Publication Date: 2018-09
• Subjects: CRM -- customer focus -- customer prospecting -- personalization -- banks; Business -- Periodicals; Economics -- Periodicals; Business; Economics; Periodicals; 650
• DOI: 10.1177/2319714518798410
• Languages: English
• ISSNs: 2319-7145

Abstract

Abstract: Maintaining collaborative relationships of a business firm with the customer is very important in the contemporary competitive business scenario, besides the service rendered by it. Against this backdrop, the study was undertaken which aims to analyse the customer relationship management (CRM) practices and dimensions in the business. The past research studies were reviewed and the CRM frameworks given by the various authors, in particular of Sin, Tse, and Yim (2005, European Journal of Marketing, 11 (12), 1264–1290), were critically examined. The research article based on the study revisited the four behavioural dimensions of CRM. A total of 225 respondents were conveniently contacted from banks and hotel establishments. In view of the challenges faced by the business organizations in the contemporary scenario, in particular in the service sector, this article identified and discusses 'customer prospecting' and 'personalization' as additional practices/dimensions that need to be incorporated to design a robust CRM framework which has been presented as revisited model. Structural equation modeling (SEM) had been used to validate the revisited model. These dimensions, though need to be ratified in the future research.