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Description
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Kumar and Reinartz's, Customer Relationship Management, a Databased Approach, stresses the development of an understanding of Customer Value as the guiding concept for marketing decisions. While networking and communications systems are important for CRM to succeed, it is more important to understand the basic approach that sets customer-centric marketing apart from traditional strategies of product marketing. The book illustrates important metrics like Past Customer Value and Lifetime Customer Value and analyzes the implementation of CRM strategies in the areas of Loyalty Programs, Marketing Campaigns, and Channel Management. This new text outlines the need for customer-centric marketing strategies and explains the concepts, metrics and techniques that form the back bone of CRM activities. It emphasizes current developments in the field of CRM and discusses the structure of databases and their uses and benefits from a marketing standpoint, rather than a technical one.
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