Customer Relationship Marketing Essay Example | Topics and Well Written Essays - 2500 words - 1

Customer Relationship Marketing - Essay Example customer acquisition it also includes the identification of valuable customers and intends to retain the valuable customers in order to increase the profitability of the company at large. The paper, therefore, shall focus on identifying the actual need of the CRM approach and on the contrary it shall also focus on certain problems faced by the companies. The first part of the paper, henceforth, shall be based on a business point of view rather than an academic perspective analysing the various factors of the approach in depth. The second part of the paper will try to justify the aspects discussed in the first part through analysing the theories and previously conducted research paper. To state the history or origination of marketing is indeed a difficult task. But evidences from decades have been emphasising on the issue to unleash the actual period when the thought and need of marketing were recognised by organisations. According to few researchers, authors, and analysts, revising the initiation of the marketing concept occurred in late 90s while the others argue it to crop up in ancient Greek. However, the marketers in their realistic practises were able to reveal the fact of a revolution in marketing thought with effect to its implementation. To state the fact in other words, marketing concept has changed drastically from the past to its present implication (Hollander & Et. Al., 2005). Consequently, the past phenomenon of marketing was centred on the development of the products or services rendered to the targeted customers. On the whole it was solely implemented from the perspective of the company rather than the targeted customers. To be specific, the companies were highly concentric on what they want rather than considering what their potential customers want from them. Apparently, with due course of time the thought of marketing implications transformed from the sole intention of meeting the companies’ requirements to the aim of justifying the actual