CRM Competing Internationally

Customer Relationship Management

Student’s name

Institutional affiliation

DQ# 1: CRM

Read the Forbes article, “The Role of Business Ethics in Relationships with Customers (Links to an external site.)Links to an external site.” Based on the content presented in the article, describe the strategic importance of Customer Relationship Management (CRM) and discuss how CRM business ethics can be used to create customer satisfaction and greater profits for the firm. Respond to at least two of your classmates’ posts.

The primary target of the CRM is the improvement and the management of the links, differentiation, and revenue enhancement as well as the growth of the company. Differentiation involves the setting up of the organization and its services as well as the products aside for competition which can only be accomplished by the CRM by focusing on the interested customers.

For example the, community medical center has initiated the best cardiovascular unit in the area by employing the best cardiologists and utilizing the advanced and innovative procedures and equipment. They have therefore differentiated themselves for such services.

The CRM helps in the enhancing the incomes of the hospital by giving alerts to the potential clients and the current consumers on the services that may require particular interest. The creation of awareness and the target on the clients whose needs may be in line with certain services increases the likelihood of using the service that is of benefit to the organization.

Conclusively, the CRM can promote the company to reach more customers, especially the new consumers of the organization’s products, through the tailored services and products offered by the firm, seamless interaction and through product sharing and knowledge via different customer touch points.

References

Crane, A., & Matten, D. (2016). Business ethics: Managing corporate citizenship and sustainability in the age of globalization. Oxford University Press.

Iglesias, O., Markovic, S., Singh, J. J., & Sierra, V. (2017). Do customer perceptions of corporate services brand ethicality improve brand equity? Considering the roles of brand heritage, brand image, and recognition benefits. Journal of Business Ethics, 1-19.

García‐Sánchez, I. M., & García‐Meca, E. (2017). CSR engagement and earnings quality in banks. The moderating role of institutional factors. Corporate Social Responsibility and Environmental Management, 24(2), 145-158.