Question

2) Name and describe the different types or forms of a CRM system and specify their goals and functions. In a given firm, should all these types be aligned and synchronized? Why?

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Answer 1

Here we will be discussing the different types of forms of CRM system with specifying their goals and functions, and if all these types are aligned and synchronized.

First of all, we must understand the CRM system, which stands for customer relationship management. The CRM of customer relationship management is responsible for establishing a healthy and worthy relationship between the customers and the organization to ensure that they have good relationships while walking with each other to get availed by both the firms and the customers. Here we are taking Coca-Cola as our form to describe the different types of ways of CRM systems.

The three main types of CRM system includes operational CRM, analytical CRM, and collaborative CRM. Functional CRM is the CRM system that provides us the complete view of each customer interaction with the organization to know about the whole conversation between them / transaction between them, and this operational CRM uses the marketing automation to ensure that there is no wastage of time and resources. Analytical CRM is the CRM system that tends to collect the information or data and then organize it and analyze the complete information about the customer data regarding the sales, which helps the organization get onto better business decisions and average due cycle and customer retention rates. Last but not the least the collaborative CRM is that part of CRM system which is also known as strategic CRM because it helps the organization to share the information of customers along with the essential data across the Nations and various themes including the shareholders/stakeholders and other departments to work significantly and smoothly. With the changing market elements, all these three types of CRM work accordingly with the adaptable changes.