CRM: under the influence of Customer Information&Knowledge
Due to the drastic competition of market economy, many companies no longer aim to
make profits, but also to establish sustainable and irreplaceable relationship with current
and potential customers. Under this situation, Customer Relationship Management(CRM),
which regarded as an effective business strategy, is related to helping company to
understand, develope and retain customers through increased customers’ satisfactions and
loyalties. It is widely applied to various industries, such as manufacturing industry, service
industry, new media industry and IT industry,etc. Generally, the Customer Information is
the most crucial and fundamental factor that can affect the outcome of the customer
relationship management even the success of a company.
l The principle components of Customer Information
Customer Information refers to customer basic data that consists of customer preference,
customer segmentation, customer demand, customer contact information, etc. To be more
specific, customer information is divided into three ways: descriptive information,
behavioral information, and related information. Firstly, the descriptive information is
mainly used for understanding customer essential data, for example the individual contact
information, the geographic information and the demographic information. Secondly,
behavioral information normally includes: consumption record, contact record, customer
behavior, customer preference and customer lifestyle and so on. After analyzing behavioral
data, marketers and consumer-service staffs are able to grasp and comprehend customer’
behavior which reflects to their consumption choices and decision-making processes.
Lastly, related information is the most complex factor. It is related to customer behavior
that mirrors and influences customer’s behavior and mentality, for example the customer
satisfaction, customer loyalty, customer preferences or attitude for products and services
and competitor’s behavior, etc. Companies conduct and maintain this kind of data in order
to help enterprise marketers and customer analysts to understand the related factors so that
they can improve their products or services. Taking the mobile communication enterprise
as an example, the core of its related information including the customer lifetime value,
customer loyalty, customer churn intention and customer call tendency and so on.
However it is a bit difficult for companies to collect and apply the related information,
because it not only needs some relevant technology, but also requires certain creativeness
to solve issues related to market management and customer management, Such as
increasing customer satisfaction, improving customer loyalty, reducing customer churn
rate and optimizing customer combination, etc.
Recently, a study, which based on an empirical evidence from Taiwan, analyzes how firms
manage infrastructure capability and customer orientation to enhance the quality of
