How to build sustainable and profitable customer loyalty/ Relationship through the help of CRM systems to improve Business Performance and profitability of the company?

Executive Summary Today the business world is rapidly changing and in a middle of vast transition. From brand and product centric to service centric, the companies are striving to become much more customer centric. As a result customer has become the central of all the operations of the organization. This actually points forward to the concept of relationship marketing where companies do not look at the customer from single transaction point of view, but want to set up a long term relationship with their customers. Relationship Marketing has further engaged into customer relationship management commonly known as CRM. Customer relationship management helps the companies to handle the vast amount of data available to them about the customer, so that they know customer better and can tailor their offerings with respect to individual customer. Technology has established itself as a main component for companies to look at CRM perspective differently and it is also the reason companies implementing CRM strategies. Technology has enabled the managers and executives to manage each customer as a single entity, thus creating a detailed database of customers every contact with the company. This has given way for CRM systems, which help the customer retention and attainment by cutting down the costs on both these aspects, as a result influencing the profitability and overall business performance of the companies. A lot of investment is essential for successful execution of such systems and past research has shown that the failure rate of CRM systems is very high and organizations fail in their CRM efforts. This research looks forward to investigate the various companies from different sectors and look at the outcomes of every different company in terms of its business performance with all relating aspects after implementing CRM system and it also investigate whether the investment in CRM technology is actually reasonable, has it really contribute to the overall business performance of the organizations