Although CRM is a new term, it is one of the key
processes in any company. The definitions for
CRM are varied and it depends on the back ground
of the person who writes about it. F. Dwyer and
Tanner think that CRM as those process that
concentrate on all aspects of identifying customers,
establishing customer relationship, creating
customer knowledge, and shaping their perception
of the organization and its products (Kotler, 2005).
CRM is a highly split environment and has come
different things to different people. As CRM is in
the early stages and not fully grown in terms of the
thought and approach, individual can find different
perspectives and definitions of CRM. Based on,
CRM is the values and strategies of relationship
marketing - with especial stress on customer
relationships which is turning into practical
application (Gummesson, 2003).