Customer satisfaction is a phenomenon which firms try to achieve through diverse tactics. One such technique for achieving customer satisfaction and retaining consumers for longer durations is through the development of customer relationship marketing (CRM). Companies exist due to the fact that they have a market to serve. If consumers are not retained, the efforts taken by a firm to provide different types of services and products becomes a waste. Hence understanding whether the services offered by a firm are valuable to consumers becomes essential. This is one of the most important reasons why relationship marketing becomes essential. Obtaining feedbacks and accordingly improving upon firms strengths and eliminating weaknesses are seen to be the core objectives of CRM. CRM is also perceived as a strategy by which new consumer needs can be identified and competitive advantages are formed. Long term relationship building and better understanding of consumers are the prime reasons why companies consider investing in the development of CRM. In the current study, the various aspects associated CRM have been vividly analyzed to gain a deeper insight in its relevance and contributions towards increasing commercial productivity. The study has been essentially been carried out in respect of two important restaurant service providing firms namely KFC and McDonalds. Both the firms consider that customer relationship maintenance is crucial for their long term survival in the industry. A descriptive analysis of the CRM efforts taken by both the firms has been incorporated in the present study laying light predominantly upon the importance of CRM in their long term survival and maintenance of strategic position.Preview Essay
Online shopping has been a growing segment in China. The rapid development of the online retailers has created massive challenges for a number of traditional retailers as they consistently lose more number of customers. Online shopping is preferred mainly sue to convenience. The busy lifestyle of modern day consumers offers very little time to visit shops and buy products directly. Instead, consumers prefer to buy products online through just a few clicks. This not only saves time, but is also considered to be proper utilization of resources. However purchasing intentions of consumers are seen to be impacted by a number of factors, such as information quality, systems quality, financial risks, security risks etc. The present study analyses the impact of such factors upon the purchasing intentions of consumers. The study has been carried out by gathered data from Chinese online consumers. Statistical analysis of the results had been carried out for procuring logical and reliable conclusions and to determine which factors impact the purchasing decisions of consumers in the online segment.Preview Essay
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