Management of Customer Relationships

Abstract

It is imperative for companies to develop and manage customer relationships effectively. The objective of the study is to analyze the effective management of customer relationships by companies. The methodology adopted is a conceptual analysis of the various strategies and initiatives adopted by companies for managing customer relationships. Companies customize and personalize their offerings with the help of permission marketing and engagement marketing. They empower their customers, manage customer word of mouth, and deal with customer complaints effectively. Academicians may analyze the existing strategies and initiatives and suggest effective strategies and initiatives for management of customer relationships. Practicing managers may evaluate the existing strategies and initiatives and implement effective strategies and initiatives in future. All these will enable companies to develop strong bondage with their customers, to manage customer relationships effectively, and to achieve business excellence in the long run.