The Effectiveness, Shortages, and Prospects of Customer Relationship Management for Small and Medium-sized Businesses (Research Paper Sample)

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The Effectiveness, Shortages, and Prospects of Customer Relationship Management for Small and Medium-sized Businesses
Abstract
Despite their prominence in national economies, the vast majority of small and medium businesses (SMBs) underperform when it comes to adopting and leveraging electronic customer relationship management (CRM or eCRM). This author argues that CRM practices and technologies are effective at creating strategically competitive advantages and delivering performance benefits.
Introduction
Small and medium-sized businesses (SMBs) are very much unlike their larger counterparts. Therefore, theoretically prescribed marketing theories may not appear especially practical in the SMB context. However, SMBs practice relatively simplistic and intrinsic customer communication and knowledge management. Nonetheless, their enhanced performance is contingent on adopting practices deployed by larger enterprises as much as practically possible.