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The relationship between trust as a traditional core concept [11] and in its emerging 'radical' form as a component of online community [12] must be described. Governance The goal of effective business relationship governance is achieving both cooperation and coordination between business actors. [13]
The concept of customer relationship management started in the early 1970s, when customer satisfaction was evaluated using annual surveys or by front-line asking. [6] At that time, businesses had to rely on standalone mainframe systems to automate sales, but the extent of technology allowed them to categorize customers in spreadsheets and lists.
The eCRM or electronic customer relationship management encompasses all standard CRM functions with the use of the net environment i.e., intranet, extranet and internet. Electronic CRM concerns all forms of managing relationships with customers through the use of information technology ( IT ).
Relationship marketing refers to an arrangement where both the buyer and seller have an interest in a more satisfying exchange. This approach aims to transcend the post-purchase-exchange process with a customer in order to make richer contact by providing a more personalised purchase, and using the experience to create stronger ties.
Supplier relationship management (SRM) is the systematic, enterprise-wide assessment of suppliers' strengths, performance and capabilities with respect to overall business strategy, determination of what activities to engage in with different suppliers, and planning and execution of all interactions with suppliers, in a coordinated fashion across the relationship life cycle, to maximize the ...
Customer experience management (CEM or CXM) is the process that companies use to oversee and track all interactions with a customer during their relationship. This involves the strategy of building around the needs of individual customers. [ 28 ]
It took nearly 15 years for Ledingham and Bruning (1998) to propose a working definition of relationship management. Hon and Grunig (1999) outlined measurements for organisational relationships and suggested strategies that could be helpful in understanding these relationships.
In business, relationship management may refer to: Customer relationship management; Supplier relationship management This page was last edited on 25 ...