Customer relationship management systems’ prevalence in Lithuanian business

Zaneta Karazijiene, Asta Saboniene

Research output: Contribution to journalArticle

Abstract

Customer Relationship Management is a widely known concept, used in the global literature; however, the Lithuanian entrepreneurs often use it in a different sense and perceive it as the abstraction or are not well aware of it in general. Customer Relationship Management (CRM) is a business management system that helps to manage and develop business relationships with existing and potential customers, thus ensuring the maximum and long-term profitability of each client. In the strict sense, CRM is a software technology that can effectively organize, automate, integrate and harmonize business processes. Companies that use these systems are striving to find new customers, attract them and achieve their loyalty as well as to maintain existing ones. Business Customer Relationship Management program covers the whole company’s business strategy, it collects and analyzes data on all customers and aims at offering the best option for each customer’s segment in order to increase profitability and reduce operating costs. When applying the Customer Relationship Management in companies, we can more easily come into contact with customers without forgetting anyone of them, segment customers and offer the best option for each segment, more easily identify loyal customers and apply loyalty programs, collect data on the partners in the system, which makes the work easier in case of changes in staff, and quickly identify problems arising in the company when the system collects customer inquiries, complaints or other comments.
Original languageEnglish
Pages (from-to)49-57
JournalEconomics and management = Ekonomika ir vadyba
Volume1
Issue number18
Publication statusPublished - 2013

Fingerprint

Customer relationship management
Management system
Profitability
Business relationships
Business management
Complaints
Business strategy
Operating costs
Loyalty
Software
Business process
Loyalty programs
Forgetting
Entrepreneurs
Staff

Keywords

  • Business relationships with customers
  • Customer relationship management
  • CRM in business

Cite this

Customer relationship management systems’ prevalence in Lithuanian business. / Karazijiene, Zaneta; Saboniene, Asta.

In: Economics and management = Ekonomika ir vadyba, Vol. 1, No. 18, 2013, p. 49-57.

Research output: Contribution to journalArticle

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