Customer Relationship Management Techniques Free Essay Help Online

Table of Contents
Problema de la recherche Objectif de la recherche Méthodologie Content evaluation Results and suggestions Insights References

Abstract

The analysis of customer relationship management and its role in marketing performance is the subject of the article under consideration. The essay adheres to the research structure by strictly dividing itself into research sections: introduction, hypothesizing, data analysis, hypothesis testing, results, and suggestions. The research is founded on a comparison of relevant theoretical materials. The central argument of the article is that there is a positive association between marketing performance and customer relationship management. The research is distinguished by its comprehensive examination of the existing connections between customer knowledge and effective organization. The author gives a number of measures that he considers beneficial for marketing process optimization.

Research difficulty

Customer relationship management is the subject of this essay. It illuminates many interpretations of this topic and provides a thorough explanation of its concept. The author places particular attention on the link between marketing performance and customer relationship management. The given theoretical papers address the market problem analysis in Egypt. The author emphasizes the relevance of the topic, asserting that successful CRM is a guarantee of effective marketing and organizational performance (Soliman, 2011).

Research purpose

The fundamental purpose of this study is to propose a descriptive model that is adequate for measuring the relationship between marketing performance and CRM in the context of Egyptian financial institutions. Initial objectives of the study include establishing the nature of their relationship and measuring the CRM's impact on marketing performance.

Research technique

The research base is comprised of numerous Egyptian financial institutions. Twenty banks, sixty-nine brokerage firms, and ten insurance firms are represented in the stratified sample. Principally, data collection consisted of conducting interviews with senior management representatives. The researcher suggested analytical techniques such as analytical statistics, factor analysis, and regression analysis.

Content evaluation

The paper opens with an analysis of several CRM concept interpretation strategies. The author notes that the phrase may have multiple connotations. Customer relationship management might initially be viewed as a communication process aimed at recognizing consumers' needs and requirements and, thus, expanding the clientele. In addition, a larger interpretation of the term entails the integration of all marketing tasks in order to give a high-quality service to the client. The author concludes that CRM should be regarded as an effective method for customer cooperation that is expected to considerably contribute to marketing performance. The second section of the introduction is devoted to explaining the concept's uniqueness. Thus, the researcher emphasizes that the description of a notion depends on the perspective from which it is viewed: procedural, technological, strategic, philosophic, or ability-based. The second section of the problem background clarifies the relationship between CRM and marketing performance. The author presents all pertinent information gathered from previous studies. These observations address the bad and positive aspects of this relationship. Nonetheless, all researchers concur on the significance of this link and its impact on marketing performance success.

The author formulates two hypotheses based on an examination of the pertinent facts collected. The core premise of the hypothesis is that the RM has no substantial impact on marketing performance. According to these assumptions, consumer knowledge does not statistically contribute much to marketing performance outcomes. The first hypothesis asserts that there is no substantial relationship between CRM and marketing performance, whereas the second hypothesis asserts that CRM has no major impact on the success of marketing activities.

The article's primary focus is on hypothesis testing. The researcher employs all available statistical methods in order to determine the extent of the relationship between CRM and marketing performance, as well as its significance and quantitative strength. The first hypothesis is disproved by a comprehensive analysis of the presented data. The validity of the second hypothesis is examined using several linear regression analysis approaches. The procedure also demonstrates the falsity of the second hypothesis.

Results and suggestions

The author reaches various findings based on a comprehensive study of the available data. Initially, he acknowledges the significance of monitoring and comprehending clients' interests and wants, including their quality and delivery requirements. Second, he emphasizes the importance of setting marketing performance standards that enable managers to monitor all the benefits and drawbacks of the communicational process. In addition, great attention is placed on the importance of maintaining the loyalty of the company's primary clientele. The author assumes that the majority of clients are satisfied with the company's operations. Therefore, management politics should focus on maintaining and expanding the core customer base. To improve the quality of the supplied service, it is stated that two-way contact between the client and the management institution should be established.

Taking into account the invalidity of the proposed hypotheses and, consequently, recognizing the significance of the association between CRM and marketing performance, the researcher offers a series of suggestions for Egyptian institutions that can be implemented to improve their activity indices. The author begins by emphasizing the importance of having a universal interpretation of the CRM concept. Moreover, he assumes that the government is obligated to provide the Egyptian institutions with adequate funding for important research and scientific inquiries. The author also advises that the local bank and trade organizations invest in the foundation of the training centers that will be responsible for developing a strategy to maximize the marketing performance efficiency. In addition, the researcher lists the steps that must be followed to establish a positive organizational atmosphere. In conclusion, it is asserted that efficient relationship management necessitates an adequate informational supply, the establishment of a general marketing culture, the application of a client-centric strategy, and regular monitoring. The author is convinced that customer knowledge management is the cause of corporate effectiveness. He emphasizes the importance of carrying out a proper framework to estimate such indexes of marketing performance as the client’s satisfaction, the sales’ profit and growth, the customer base preservation and the market share.

Insights

The article under consideration provides significant value for marketing performance research. The paper follows the right research format, including the theoretical foundation, the introduction of the hypothesis, its testing, and the formulation of the recommendations. Despite the fact that the recommendation base is primarily intended for Egyptian institutions, the proposed procedures can also be successfully implemented in other regions. The subject under consideration is of urgent relevance to marketing performance.

References

Soliman, HS (2011). The Relationship between Customer Relationship Management and Marketing Performance. International Journal of Business and Social Science, 2(10), pages 166 to 181. Web.

[supanova question]

× How can I help you?