Preview

Customer relationship

Satisfactory Essays
Open Document
Open Document
357 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Customer relationship
Introduction

Customer relationship management

Customer relationship management (CRM) is a system for managing a company's interactions with current and future customers. It often involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.

The purpose of customer relationship management is to extend the management, and improve the competition capability of the enterprises.

The Real estate sector is rapidly growing. Forward-thinking companies within the sector are looking to create competitive advantage through differentiators such as better management and servicing of the customers. Strategic technologies such as customer relationship management (CRM) tools can play an important role in this. This white paper explores the role CRM can play in real estate, its benefits and how one should go about selecting the right CRM application.

Positive signals from real estate investment, occupational and development markets

The major global real estate markets are in better shape than at any time since the Global Financial Crisis, with the continued momentum in capital markets now supported by improving corporate occupier demand across all the main global regions and property sectors. Abundant liquidity has pushed investment volumes back to the level of 2006, with expectations of further growth during 2015. Meanwhile, rising construction levels and developer confidence underline the strength of demand for modern space. Economic and geopolitical headwinds may affect future growth prospects but, equally, 2015 offers the global real estate market upside potential on the back of a robust recovery in the U.S. economy, lower oil prices, quantitative easing in the Eurozone, a resurgence of India and 6%-7% economic growth in China.

Real estate sector is rapidly growing in all world-wide directions. Focusing on winning is crucial which gives birth to competition that makes real estate a competitive industry. The

You May Also Find These Documents Helpful

  • Good Essays

    CRM at minitrex

    • 598 Words
    • 3 Pages

    Customer Relationship Management is a strategy to develop strong relationships with the customer and to know more about the customer needs. Stronger relationships with the customers will help in the development of the business. CRM helps in understanding the needs of the customers by gathering the information about the customers, and this helps to market and sell the company’s products. CRM makes the use of technology and human resources for the development of the business. By implementing CRM…

    • 598 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Customer relationship management or CRM is not just the application of technology, but is a strategy to learn more about customers' needs and behaviours in order to develop stronger relationships with them. It enables businesses to:…

    • 542 Words
    • 3 Pages
    Satisfactory Essays
  • Better Essays

    Task1

    • 2724 Words
    • 11 Pages

    Customer relationship management refers to a series of processes, focused on initiating two-way communication exchanges with customers to have a detailed knowledge of their specific needs and buying patterns. The major benefit of a CRM system is that it helps business organizations in determining the type of customer best suited for the growth of their business. CRM enables business organizations to formulate strategies focusing on customer-driven growth and in providing superior and friendly customer experience…

    • 2724 Words
    • 11 Pages
    Better Essays
  • Good Essays

    Military

    • 611 Words
    • 3 Pages

    CRM tools integrate a business’s customer-related processes and consolidate customer information from multiple communication channels, giving the customer a…

    • 611 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Crm in Nike & Adidas

    • 960 Words
    • 4 Pages

    CRM (Customer Relationship Management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so forth. (Eric Williams, 2006). The CRM system track all of the ways in which a company interacts with its customers and analyze these interactions to optimize revenue, profitability, customer satisfaction because they are getting exactly what they want (ie., exceeding expectations) and customer retention. It also enable employees who interact directly with customers to provide better, more personal service for the customers.…

    • 960 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Crm Qci Model

    • 2134 Words
    • 9 Pages

    Even though the interaction between a company and its customers exists long time the expression of Customer Relationship Management (CRM) has only been used since the early 1990s. IT companies have leaned to use the term CRM, to portray the software applications that automate the marketing, selling and service functionality of an organization.…

    • 2134 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Crm Failure Study

    • 4929 Words
    • 20 Pages

    Customer Relationship Management, or CRM, is an information technology industry term for methodologies, strategies, software, and other web-based capabilities that help an company to organize and manage customer relationship. For instance, if a marketing department runs an outbound campaign, all of the information about the customers and the program should be retained for the sale staff to follow up on, the customer service representatives to answer any queries, and technical support to provide any field support. The idea is to have the same information available to all in the company so that every product or service need of the customer is met. CRM implies that everyone in the enterprise is focused on the customer 1 . Customer Relationship Management is the establishment, development, maintenance and optimization of long-term mutually valuable relationships between consumers and organization. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a strategic process that will help you better understand your customers’ needs and how you can meet those needs and enhance your bottom line at the same time. This strategy depends on bringing together lots of pieces of information about customers and market trends so you can sell and market your products and services more effectively. In short, it’s a business strategy, as Gartner Inc. implies. The idea of CRM2 is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. With an effective CRM strategy, a business can increase revenues by: - providing services and products that are exactly what your customers want - offering better customer service - cross selling products…

    • 4929 Words
    • 20 Pages
    Good Essays
  • Good Essays

    Customer relationship system or we called it CRM, which is the one of the information system that has been used by Prudential Assurance Malaysia Berhad. Customer relationship management is a type of software application. Employees can manage customer information by using CRM. The relationship between company and their customers can be grown in long-term and stable. This system’ primary concept is to keep the business operational through finding and maintaining clients. All departments in the same building can keep track of other department processes such as customer service. Technology is required for customer relationship system to organize and analyze business processes.…

    • 1278 Words
    • 6 Pages
    Good Essays
  • Powerful Essays

    In general it is to say that CRM is uniting the potentials of relationship management and information technology (Peelen, Van Montfort, Beltman & Klerkx,2009)It establishes a long-term relationship between buyer and seller. This involves creating a strategy,process and technology so that relationships to customers can be created along the whole purchasing lifecycle. (Lee & Engelman,2012) CRM is the result of the trend that marketing is shifting more and more away from a product oriented view to a consumer oriented one. (Kumar.Sunder &Ranaseshan,2011)…

    • 1955 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Customer relationship management (CRM) is a widely-implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes principally sales activities, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service. Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments. Measuring and valuing customer relationships is critical to implementing this strategy.…

    • 1848 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    With Micheal Porter’s 5 forces analysis, the real estate turned out to be not a very favourable industry to start business or invest in at this moment. Being a not very profitable industry, in addition to the new restrictions from the government now a day unlike two years back the real estate has no or little threat of new entrants. On the other hand, the competition is still high because of the existence of many competitors in the market. The bargaining power of the buyers is high, and bargaining power of suppliers is lower because of lack of new projects but still exists, substitutes are found for people having cash, they will invest in more secure industries if they are new investors, but if they already have invested in real estate the cost of switching to any other project or alternative will be very high, and…

    • 2599 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    Customer relationship management (CRM) is a model for managing a company’s interactions with current and future customers. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support.…

    • 2922 Words
    • 12 Pages
    Good Essays
  • Powerful Essays

    Year 2015 is showing great resistance in the real estate sector, even with fresh inventory been induced in the market, it has still been able to sustain the slowdown in the market. Keeping in line with current market we need to have structured approach, also we plan to slant other emerging emirates in UAE wherein the real estate market is gradually participating in the growth of UAE economic…

    • 1452 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    Customer Relationship Management or CRM is a strategy and processes used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. Today marketers consider retaining of customers as much more challenging job than acquiring customers in context of growing competitive forces. The traditional transactional approach of marketing became insufficient to achieve the marketing goals. The focus of transactional marketing is on individual transaction and doesn’t concern continuous relationship with customers. . There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. CRM is about organization and streamlining of processes and information. CRM enables the vendor to quickly and easily get and provide access to all aspects of business management and customer interactions, and also allows customers to quickly and easily find and use information on their own. By streamlining aspects of vendor-client interactions, CRM helps organizations manage and coordinate their businesses efficiently, as well as provide excellent customer service. CRM combines marketing, customer, and financial information so that management, salespeople, customer service, and also the customer can access the same information. Over the last several months, there's been a lot of debate about the validity of CRM as a business strategy. Building a customer-centric enterprise takes time, planning, and a dedication to change at the front and back end of a company. most frequent mistake companies make is to confuse a CRM strategy with technology implementation. The difficult part of any CRM initiative is making sure a company's culture and structure are on board. Technology can then become an enabler of one-to-one communication: Web sites, call centers, mobile devices, etc., become opportunities to develop profitable customer relationships that will put your company in the successful 50%.What is required is…

    • 447 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    In olden days, business people and organizations would know their customer base from seeing them on a daily basis and learning their preference based on the relationship they shared with the customers. CRM is emerged as critical for organization in 1960’s where marketers found that 4p’s of marketing framework-product, price, place and promotion were less valuable without ongoing relationships with customers. Companies started putting customers in the middle of marketing program.…

    • 1129 Words
    • 5 Pages
    Better Essays