Marketing Information and Marketing Intelligence

Abstract

Companies cannot make decisions without proper information about their customers. The study discusses the various ways that companies collect customer information, store the information, and analyze the information. The study focuses on the role of customer relationship management (CRM) in making proper usage of the information and the intelligence gathered from the information in building better relationships with customers. The study emphasizes that building fruitful relationships with customers will help companies grow their businesses in the long run. Although CRM implementation helps companies in developing customer relationships, CRM has its own drawbacks. Companies should realize that CRM is a tool that is used to develop customer relationships. However, implementation of CRM will not solve all issues related to customers. Companies need to be aware about all these aspects while implementing CRM. Once implemented properly, CRM helps companies in growing their businesses and achieve business excellence in the long run.