Study on Customer Relationship Management in Growing Companies in Emerging Economies

Customer Relationship Management (CRM) has a growing popularity and is fast becoming one of the hottest topic and innovative way in present day marketing because of its practicality in the business field. In fact, due to the competitive environment, CRM is crucial and has become a niche for company performance. However, there is still a huge gap between companies and customers in CRM dimensions and in growing economies because they are yet to get a real understanding of comprehensive implementation of CRM. An analysis of strategy in CRM has become a necessary part of organisations in marketing. Already existing markets need people with the technical no-how on the best way in dealing and relating with supposed customers. There is no marketing or management without customers. The study intends to show the importance of how CRM in 21st century businesses and industries, helps in serving customers better. It also will highlight problems encountered in effective CRM implementation in business field of growing economies, and offer some suggestions in bridging the gap between growing economies and already developed economies