Customer Relationship Management: Leveraging technology or exploiting customers
“CRM isn’t rocket science but it can make you a competitive superstar” [1] The above quote rightly defines Customer Relationship Management (CRM), probably one of the most revolutionary notion that has influenced marketing and customer relations. It is a tool through which organizations can gauge customer requirements and ultimately use them to lead to an increase in profitability. CRM is as effective and as close as it can get to understand the consumer so that the marketers can prioritize their marketing activities, based on their preferences and behaviours. Building the customer relationship is imperative as customer loyalty and retention adds on to the customer lifetime value, needed for prolonged profitability in any business domain. This can be done by engaging customers through different mediums. Smartphones are the closest means to get to the customer in these modern times. A customer checks his phone every 15 minutes or so, almost 47 times in a day regardless of a no...