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Handbook of Marketing Decision ModelsDecision Models for Customer Relationship Management (CRM)

Handbook of Marketing Decision Models: Decision Models for Customer Relationship Management (CRM) Chapter 9 Decision Models for Customer Relationship Management (CRM) Werner J. Reinartz and Rajkumar Venkatesan 9.1 Introduction The conceptual shift from a product-centric to a customer-centric organization has been a topic for discussion for more than a decade (Webster 1992; Day 1999). Despite the rhetoric and its conceptual appeal, the change to customer- centric organizations has, in reality, been slow (Webster et al. 2005). Yet in recent years, significant activities, in both managerial practice and academia, have emerged around the concept of customer relationship management (CRM) (Boulding et al. 2005), representing a step closer to creating a stronger customer orientation. In managerial practice, these activities seem to revolve around IT-related questions and practices, whereas in academia, the discussion focuses on issues such as customer satisfaction, retention, and profitability. The purpose of this chapter is to describe and summarize existing academic models and approaches that have found CRM applications. As such, we attempt to provide an integrated, structured overview of some key issues pre- valent in academic CRM thinking. Within the scope of this chapter, we also identify some aspects of CRM that require new models or extensions. According to Reinartz et al. (2004), existing literature suggests four distinct characteristics http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png

Handbook of Marketing Decision ModelsDecision Models for Customer Relationship Management (CRM)

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References (67)

Publisher
Springer US
Copyright
© Springer-Verlag US 2008
ISBN
978-0-387-78212-6
Pages
291 –326
DOI
10.1007/978-0-387-78213-3_9
Publisher site
See Chapter on Publisher Site

Abstract

Chapter 9 Decision Models for Customer Relationship Management (CRM) Werner J. Reinartz and Rajkumar Venkatesan 9.1 Introduction The conceptual shift from a product-centric to a customer-centric organization has been a topic for discussion for more than a decade (Webster 1992; Day 1999). Despite the rhetoric and its conceptual appeal, the change to customer- centric organizations has, in reality, been slow (Webster et al. 2005). Yet in recent years, significant activities, in both managerial practice and academia, have emerged around the concept of customer relationship management (CRM) (Boulding et al. 2005), representing a step closer to creating a stronger customer orientation. In managerial practice, these activities seem to revolve around IT-related questions and practices, whereas in academia, the discussion focuses on issues such as customer satisfaction, retention, and profitability. The purpose of this chapter is to describe and summarize existing academic models and approaches that have found CRM applications. As such, we attempt to provide an integrated, structured overview of some key issues pre- valent in academic CRM thinking. Within the scope of this chapter, we also identify some aspects of CRM that require new models or extensions. According to Reinartz et al. (2004), existing literature suggests four distinct characteristics

Published: Jan 1, 2008

Keywords: Customer Relationship Management; Customer Retention; Marketing Communication; Direct Mail; Customer Lifetime Value

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