CRM in Manufacturing Industry as Well as in Service Sector: A Review of Literature

Abstract

It’s a high time to survive in the business in the long run particularly in manufacturing as well as in service sector. Globalization and volatile competition have given rise to a strong challenge to sustain current customers and gain new customers both in manufacturing and in service sector. Gone are the days when the focus was only on4Ps and 7Ps or marketing mix in manufacturing and service sector. Today, in the market businessman has to strive hard not only in giving the best products and services but also in maintaining better relations with the customers by applying many strategies. Not only B to C but also B to B, G to C, B to E and B to D, all require a strong, healthy and positive relations to be maintained for the benefit of both the parties. So, CRM is the best methodology adopted by the parties to sustain in long run in manufacturing and in service sector. CRM is aimed at building strong long term relationships that keep customers coming back repeatedly and also attract new customers with different behavioral patterns.

The purpose of this paper is to focus on understanding the basic concept of CRM in manufacturing as well as service sector and to study the different dimensions of CRM with the help of review of literature. The purpose of this paper is also to understand how the CRM strategies are implemented in both the sectors effectively. This paper also concentrates on problems faced in applying CRM in both the sectors. The conclusion of this paper is totally based on review of some qualitative research articles written in this field of CRM.