Objectives, strategies and expected benefits of customer relationship management

The purpose of this study is to bring insight and deeper understanding into the objectives, strategies and the expected benefits of CRM initiatives by organisations particularly service companies in Sweden. To conduct this study, the following research questions were posed: How can the objectives and strategies of CRM initiatives by organisation be described? And how can the expected benefits of CRM initiatives by organisations be described? Based on the above discussions, the main research methodology was a case study. An in-depth case study was conducted into three service companies specifically banks on the objectives, strategies and the expected benefits of CRM initiatives by these service companies. The data from the practitioners is inline with the theory. At the end of this study, it was found out that, customer identification, customer differentiation, customer interaction and personalization are the main strategies of CRM initiatives by the service companies. The results of this study indicate that, the major objectives and benefits of CRM initiatives by these organizations were, higher profitability, cost reduction, customer retention and loyalty and positive impact on the over all performance of the organization in the long run.Validerat; 20101217 (root