The IRMA Community
Newsletters
Research IRM
Click a keyword to search titles using our InfoSci-OnDemand powered search:
|
The CRM-KDD Nexus
|
|
Author(s): Nikhilesh Dholakia (University of Rhode Island, USA), Jounghae Bang (University of Rhode Island, USA), Lutz Hamel (University of Rhode Island, USA) and Seung-Kyoon Shin (University of Rhode Island, USA)
Copyright: 2005
Pages: 6
Source title:
Encyclopedia of Information Science and Technology, First Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-59140-553-5.ch498
PurchaseView The CRM-KDD Nexus on the publisher's website for pricing and purchasing information. |
Abstract
Customer relationships are increasingly central to business success (Kotler, 1997; Reichheld & Sasser, 1990). Acquiring new customers is five to seven times costlier than retaining existing customers (Kotler, 1997). Simply by reducing customer defections by 5%, a company can improve profits by 25% to 85% (Reichheld & Sasser, 1990). Relationship marketing—getting to know customers intimately by understanding their preferences—has emerged as a key business strategy for customer retention (Dyche, 2002).
Related Content
|
Adeyinka Tella, Oluwakemi Titilola Olaniyi, Aderinola Ololade Dunmade.
© 2021.
24 pages.
|
|
Md. Maidul Islam.
© 2021.
17 pages.
|
|
Peterson Dewah.
© 2021.
23 pages.
|
|
Lungile Precious Luthuli, Thobekile K. Buthelezi.
© 2021.
14 pages.
|
|
Delight Promise Udochukwu, Chidimma Oraekwe.
© 2021.
13 pages.
|
|
Julie Moloi.
© 2021.
18 pages.
|
|
Mandisa Msomi, Lungile Preciouse Luthuli, Trywell Kalusopa.
© 2021.
17 pages.
|
|
|