V-CRM[VIRTUAL CUSTOMER RELATIONSHIP

MANAGEMENT]

DEFINITION:

• Romano and Fjermestad (2003)defined it as a combination of hardware, software, processes, applications and management commitment.

• Pan and Lee (2003) have claimed that v-CRM has the ability to capture, integrate and distribute data gained at an organizational website.

MEANING:

• Integrated CRM process to put customer at centre of business with help of sales force automation, marketing automation, customer service automation and order management.

• It is a methodology used to learn more about customer needs and behaviour in order to develop strong relationship with them.

Framework of v-CRM:

Difference between CRM and v-CRM:

Abstract:

• The Internet has revolutionized communication among companies and clients. New possibilities for global collaboration among companies on a project basis are possible with virtual enterprises.

• Virtual enterprises enable new ways of collaboration with clients and their participation in creative and inventive activities of individual products. Furthermore project work with clients allows tight bonds to them and goes beyond traditional forms of customer relationship management.

Advantages:

• Better customer relation.• Easy access of data and information.• Reduction in manual work• Quick feedback.• Fast up gradation of products and technology

inside and outside of enterprise.

Disadvantages:

• Difficult to adopt in small scale enterprises.• Limited customers.• Lack of knowledge among customers and

users.

THANK YOU…….By:

Shritheja.K. 1st MBA