Customers and CRM in GE.

Executive Summary.

Business today has evolved to become more guest oriented. Companies ar fault towards the customer subdivision focusing on customer consanguinity management, customer lifetime value and customer retention.

General Electric (GE), a diversified company and already so achievementful in the old parsimony, was not spare from the shift either. Its former CEO, crap Welch, executed a series of changes in the company to spend a penny GE for the shift towards customer focus.

Once there, it concentrated on node Relationship Management (CRM) to improve Customer Lifetime cherish and Customer Retention. This is done by continuously delighting customers to achieve customer satisfaction. With that comes customer loyalty and ultimately a successful company.

CRM has some(prenominal) positive and negative strategic implications on GE. With CRM GEs has achieved employee satisfaction, quality, good positioning, customer satisfaction / loyalty and improved performance / productivity. It has also change magnitude profit, shareholders wealth, market value as well as voter the most admired company.

Despite GEs achievements there are also setbacks much(prenominal) as company downsizing, retrenchment, staff resignation, high CRM systems cost, intruding customers loneliness and loss of customer through segmentation.

Companies could learn from the GEs example (known as the GE Way) on how to execute the shift towards the customer segment and implement the CRM systems smoothly and successfully.



CRM helps companies manage customers effectively bringing success along the way, if implemented correctly.

1. Introduction.

Up till the early 1980s ...customers are seen as average statistic, passive buyers with a predetermined usance of consumption. Market research and inquiries had very limited or no interaction with the customers. It is mostly a one way intercourse in the old economy... (Prahalad C.K. and Ramaswamy V., 2000, p2).

As the business competition gets tougher in the 1990s, Kotler admitted the economy has shifted into a customer economy where companies...

If you want to get a full essay, order it on our website: Orderessay



If you want to get a full essay, wisit our page: write my essay .