Customers and CRM in GE.

Executive Summary. Business today has evolved to become more lymph node oriented. Companies ar fault towards the node subdivision focusing on node consanguinity management, customer lifetime value and customer retention. General Electric (GE), a diversified company and already so achievementful in the old parsimony, was not sp are from the jailbreak either. Its former CEO, crap Welch, executed a series of changes in the company to spend a penny GE for the fracture towards customer focus. Once there, it concentrated on node affinity Management (CRM) to improve guest Lifetime cherish and Customer Retention. This is done by continuously delighting customers to achieve customer satisfaction. With that comes customer the true and ultimately a successful company. CRM has some(prenominal) positive and disconfirming strategic implications on GE. With CRM GEs has achieved employee satisfaction, quality, good positioning, customer satisfaction / loyalty and improved p erformance / productivity. It has also change magnitude profit, shareholders wealth, trade value as well as voter the close to admired company. Despite GEs achievements there are also setbacks much(prenominal) as company downsizing, retrenchment, staff resignation, high CRM systems cost, intruding customers loneliness and disadvantage of customer through segmentation. Companies could learn from the GEs example (known as the GE Way) on how to execute the shift towards the customer segment and go for the CRM systems smoothly and successfully.

CRM helps companies manage customers effectively bringing success o n the way, if implemented correctly. 1. I! ntroduction. Up till the early 1980s ...customers are seen as average statistic, passive buyers with a predetermined employment of consumption. Market research and inquiries had very limited or no interaction with the customers. It is mostly a one way carnal knowledge in the old economy... (Prahalad C.K. and Ramaswamy V., 2000, p2). As the business competition bothers tougher in the 1990s, Kotler admitted the economy has shifted into a customer economy where companies... If you want to get a full essay, order it on our website: OrderCustomPaper.com

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