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The Paradigm of Customer Relationship Management in the Fast Moving Consumer Goods (FMCG) Retail Industry

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  • TANASE, George Cosmin

Abstract

Building strong relationships with customers has become a prime strategic objective of retail marketing. This article focuses on the paradigm of customer relationship management (CRM), regarding the principles of customer value and the constructs of customer loyalty and customer satisfaction. In highly competitive environment the relationship marketing is concerning on critical importance of clients for every business activity in market economy. The significance of customer relationship management is to lead to satisfied and loyal clients. From one side it is oriented to synchronize relations between the customers and the retail company, from the other side it is dedicated to optimize sources of information for better comprehension of consumer behavior. The CRM outline the main directions for development of client oriented products, high level consumer service and long term partnership with the company audiences and it is also an instrument of the intelligent company management in the field of customers relationship, taking into consideration the personal preferences and characteristics. This approach emphasizes the possibility to evaluate the separate clients according to their significance for business by realized sales, profitability and development potential. Also it is important to mention that in retailing the loyalty programmes are manifestations of customer relationship management.

Suggested Citation

  • TANASE, George Cosmin, 2011. "The Paradigm of Customer Relationship Management in the Fast Moving Consumer Goods (FMCG) Retail Industry," Romanian Distribution Committee Magazine, Romanian Distribution Committee, vol. 2(3), pages 30-36, September.
    • Handle: RePEc:rdc:journl:v:2:y:2011:i:3:p:30-36
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    File URL: http://crd-aida.ro/RePEc/rdc/v2i3/6.pdf
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    References listed on IDEAS

    as
    1. Werner J. Reinartz, 2010. "Understanding Customer Loyalty Programs," Springer Books, in: Manfred Krafft & Murali K. Mantrala (ed.), Retailing in the 21st Century, pages 409-427, Springer.
    2. Isabelle Huault & V. Perret & S. Charreire-Petit, 2007. "Management," Post-Print halshs-00337676, HAL.
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    More about this item

    Keywords

    customer; information; relationship; management; interaction; loyalty;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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