Customer Relationship Management and Business 2 Business Similarities and Differences

Question

Relationship marketing emphasizes that customer retention affects company profitability in that it is more efficient to maintain an existing relationship with a customer than create a new one (Payne et al., 1999; Reichheld, 1996) Customer relationship management (CRM) is a complex and holistic concept, organized around business processes and the integration of information technologies. Customer relationship management (CRM) and business-to-business (B2B) are essential to the success of modern business. Although they are two different modules, they share many similarities. The integration of CRM and B2B can benefit all related parties in business processes, including sales, marketing, customer service, and information support. You are required to carry out a library research to investigate and present characteristics, similarities, and differences of CRM & B2B and discuss in detail the design, implementation, and monitoring of CRM programme in an organization with the help of examples taken from available literature and relevant case studies.

Summary

The question belongs to CRM or Customer Relationship Management. The question is particularly about the differences and similarities between CRM and B2B and the possibilities of merging both CRM and B2B. The solution discusses whether or not a merger can be made between the two or not.

Total word count is 3238