Lecture 1 of Customer Relationship Management

The document provides an overview of customer relationship management (CRM). It defines CRM as both a process and hub of learning for organizations. The objectives are to outline the costs and benefits of CRM systems for organizations and customers. It discusses the shift from old, transaction-based marketing to new relationship marketing focused on customer retention through individualized interactions. CRM systems aim to enhance customer service, satisfaction, and retention by integrating business processes and customer data.