The impact of CRM on customer retention in Malaysia

The purpose of this research is study of customer relationship management process in customer retention in Malaysia. I describe the objectives of customer relationship management (CRM) in customer retention which is very important for the survival of companies in today competitive environment. Satisfying customers and surviving in today's fast moving marketplaces requires: a brain to understand, learn, and analyze customers; a heart to pump and flow out the customer oriented blood throughout the organizational arteries; and hands and feet to deliver the services to the customers. The customer is the one who pays the bills, is the source of revenue, and is the reason for being. The critical role the customer plays is so vital, an entire management philosophy and software category was born - customer relationship management (CRM) - based on the recognition of the value of a customer. Today, customers are very important factors in companies management with the power to change their short-term and long-term polices and strategies. Therefore enough knowledge of environment, expectations of customers and their desires are very important to find the best solution for facing un-expected behaviors of customers and then behave in such a way to change the mind of customers in the direction of companies' profit. It's an art to absorb customers by using different techniques such as CRM in order to manipulate companies' policies a head of them. The customer is king!" has long been the cry of those in business. Customer relationship management (CRM) is a business philosophy which provides a vision for the way your company wants to deal with your customers. To deliver that vision, you need a CRM strategy which gives shape to your sales, marketing, customer service and data analysis activities. For most companies, the aim of a CRM strategy is to maximize profitable relationships with customers by increasing the value of the relationship for both the vendor and the customer. From the vendor's perspective, it is clear that not all customers are created equal.