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What's Behind Relationship Marketing and CRM...
Felix C. Poudeu, Management Consultant, Germany
The basic principle of relationship marketing and customer relationship management is that firms benefit more from maintaining long-term customer relationships than short-term customer relationships (Reinartz & Kumar, 2000).
In the 21st century businesses are becoming more customer-centric, process-focused everyday.
Therefore metrics like ROI, CLV and RFM are gaining importance.
Customers demand highly personalized products, personalized services and immediate delivery.
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