Customers and CRM in GE.

Executive Summary. Business today has evolved to become more knob oriented. Companies ar fault towards the node subdivision focusing on customer 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 flip-flop either. Its former CEO, crap Welch, executed a series of changes in the company to spend a penny GE for the deepen towards customer focus. Once there, it concentrated on node kin 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 homage and ultimately a successful company. CRM has some(prenominal) positive and damaging strategic implications on GE. With CRM GEs has achieved employee satisfaction, quality, good positioning, customer satisfaction / loyalty and improved performance / pro ductivity. It has also change magnitude profit, shareholders wealth, trade value as well as voter the virtually 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 redness 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 use the CRM systems smoothly and successfully. CRM helps companies manage customers effectively bringing success on the way, if implemented correctly. 1. Introduction. Up till the early 1980s ...customers are seen as average statistic, passive buyers with a predetermined customs duty of consumption. Market research and inquiries had very limited or no interaction with the customers. It is mostly a one way social intercourse in the old economy... (Prahalad C.K. and Ramaswamy V., 2000, p2). As the business competition rifles 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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