Customer relationship management has become the marketing buzzword of the past two decades with business-to-business firms jumping in, many without really being certain of what they hope to achieve from it, and oftentimes being disappointed with the results.
Gummesson (2004) describes CRM as “the values and strategies of relationship marketing with particular emphasis on customer relationships- turned into a practical application.” CRM has become a necessity to successfully and profitability manage customers and a firm’s relationship with them, with the market reaching a value of approximately $11.5 billion in 2002. (Xu et al. 2002). However, despite this large spending it is estimated that 70% of CRM implementations fail. (Xu et al. 2002). There are a number of reasons for these failures, such as a failure to implement it throughout the organisation and resistance from employees. But in some cases the buyer-seller relationship does not merit a collaborative-style......

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Title: Crm Constitutes The Heart Of Business To Business Marketing
Approximate Word Count: 1526
Approximate Pages: 7 (250 words per double-spaced page)

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