Strategic CRM Today

Abstract

The use of customer relationship management (CRM) as a strategic approach has become increasingly popular in recent decades, and that trend shows no signs of changing. It is critical for businesses to understand how strategic and customer-centric CRM can support their efforts to achieve their corporative objectives. Thus, this first chapter offers a detailed overview of the key terms and introduces important constructs that readers will need to recognize and understand if they hope to gain full comprehension of this topic. After defining strategic CRM in its current state and putting it in context with respect to the changing fields of consumers, the marketplace and the marketing function, this chapter outlines the benefits of strategic management of customer value. Finally, it details insights into the past, current, and future developments that have marked and continue to influence strategic CRM.