Customer Relationship Management: Statistical modelling Approach

Customer Relationship Management (CRM) enables an organization to better manage relationships with customers, distributors and dealers among others. CRM is a process to compile information that increases understanding of how to manage an organizations relationship with its customers. It can be considered as a process of storing and analyzing the vast amounts of data produced by sales calls, customer service centers, and actual purchase etc. Clearly CRM products must be selected based on the company’s need to provide greater value to its customer base. The CRM has been expanded to include all partners that the company interacts with and is called Partner Relationship Management (PRM). CRM start-up teams should consist of IT as well as business unit managers. In the present study, an attempt has been made to establish relationships between endogenous variables and exogenous variables related with functions of CRM.