Customer Relationship Management and Relationship Marketing in the Accommodation Sector (Essay Sample)

ESSAY
On
Customer Relationship Management and Relationship Marketing in the Accommodation Sector
Introduction
Companies are using customer relationship management and relationship marketing for maintaining strong relations with the current and potential customers. Organizations interact with the consumers for knowing their needs and feedback with respect to the products and services. Indeed, customer relationship management and relationship marketing have different areas but their objective is similar i.e. to develop new relations and maintain old ones in the market (Werro, 2015). The present essay includes customer relationship management (CRM) and relationship marketing in the accommodation sector. In context to this, concept and strategies regarding CRM and technologies and modern approach related to the relationship marketing has been explained.
Relationship Marketing
Relationship marketing has evolved as a marketing strategy that helps the organizations to build business related core values and ethics. It defines an effective framework for the organizations to reach out from existing market (such as suppliers, customers, business partners etc.) and think how can attract the internal employees and others external stakeholders in more proper manner to retain them with business rather than only sales purpose (Choudhury & Harrigan, 2014). Hence, every organization is trying to use relationship marketing strategies as a tool to get success.
Concept and phases of customer relationship management
Customer relationship management refers to the process of managing organization’s relations with the present and potential customers. Data analysis is used by CRM for collecting individual’s history with the firm for improving the business relations by focusing on customer retention. CRM helps firms in increasing their sales and profitability by managing both current and new customers. One of the primary aspects of the respected approach is that CRM uses various ranges of communication channels which consist of telephone, e-mail, live chat, marketing materials, website and social media (Choudhury & Harrigan, 2014). With the help of CRM, accommodation organizations like hotel, tourist firms are able to learn more about their target audience such as their preferences, needs and demands, dislikes, etc for increasing their satisfaction level.