This 46 page paper is a proposal and literature review for research to identify the different influencing factors that are present when a firm wants to successfully introduce customer relationship management (CRM) system. The paper gives an introduction with aims and several hypotheses to be tested and then undertakes an input literature review, considering the different elements of CRM implementation that may be influential. Factors consider range from the functionality of the system, its ability to access and interpret data to the management of human factors and managing change. The paper then gives a methodology to be used for the primary research along with a short timetable and budget. The bibliography cites 41 sources.
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2.4 Measuring Success 38 3. METHODOLOGY 40 3.1 General Approach 40 3.2 Sample Selection 42 3.3 DATA COLLECTION AND ANALYSIS 43 3.4 Timetable and Budget 45 3.4.1 Timetable 45 3.4.2 Budget 46 3.5 Results 47 REFERENCES 48 1. Introduction Anecdotal evidence
and common thinking has always stated that it is more cost effective to retain a customer than to gain a new one. There is less investment required and a repeat
customer is more likely to become an advocate and make recommendations. Some of the best firms will be able to develop long standing relationships with there customers by providing good
service and understanding their customers needs. Reichheld and Saaer (1990) demonstrated that with the use of information technology small improvements in customer relationship retentions rates could have a large
impact on the profitability of a firm. It is since that time that there has been an increased focus on the need to manage customer relationships in order to increase
satisfaction and as a result improve customer retention rates (Kotler, 2003). This gives many firms the desire to look at implementing the small changes. A tool that has become
very popular is that Customer Relationship Management (CRM). Customer relationship management is seen as a holy grail of IT systems, able to provide many advantages and increase the value of
the data already stored within an organisation and help to identify areas where problems exist, give customers better service and increase the speed at which the improvements to service can
be created. However, it is merely a tool, although it is potentially powerful tool and is able to deliver the perceived benefits; the realisation of the perceived advantages may be
more difficulty that a company imagines, so, for the best chance of success a company will need to identify the factors which will influence the success of the implementation.