Customer Relationship Management to Customer Managed Relationship-Neha Thakur 167

Customer relationship management (CRM)System for managing a companys interactions with current and future customers.

Involves using technology to organize, automate and synchronize sales, marketing, customer service, and technical support.

Customer Managed Relationship (CMR) A relationship in which a business uses a methodology, software, and perhaps Internet capability to encourage the customer to control access to information and ordering.

Customers are Digitally Connected, Socially Networked, and better informed than ever before.

CRM VS CMR

Aspects of CMR

Kohler IndiaThe senses: you dont have to have luxury, you have to feel luxurious.

Beyond SKUs: Not just a typical e-commerce site, which is often just a catalog with some SKU numbers, some pictures and a shopping cart

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there are three aspects of CMR. The first is that customers should own their own information including their profile, transaction history, and any inferred information such as marital history and even behavior. The second aspect is that customers should have access to this information across all departments. The third aspect is that the entire system should be designed with the customer's needs and feelings having priority or equal weight to the company's needs and desires. CMR allows a customer to define how they communicate with the company, what services or products they will purchase, and how they will pay for them. CMR is an attempt by enterprises to change with the times by addressing customer demand for more control.*