Assessing the Potential of Customer Relationship Management: Clarifying the Decision (ABSTRACT)
Frantz, B., & McDougall, G.
published: 2004 | Research publication | Refereed Journals - Marketing
Frantz, B., & McDougall, G. (2004). "Assessing the Potential of Customer Relationship Management: Clarifying the Decision". Services Marketing Quarterly, 26 (1), 1.
ABSTRACT: Many customer relationship management systems (CRM) have not been successful. This paper proposes a two-stage process to improve the decision to purchase CRM technology. The first stage evaluates the financial potential for CRM and the second assesses the willingness of the firm's members to fully utilize CRM. Using a case study, this approach assists firms in deciding whether to invest in CRM technology or pursue other initiatives to enhance customer retention. The paper addresses customer value, segmentation, sensitivity analysis, and implementation issues. Implications for marketers include the importance of volume segmentation, using sensitivity analysis to evaluate the financial potential of CRM, and identifying barriers to the implementation of CRM.
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revised Jan 7/05
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