South Asian Journal of Marketing & Management Research

K. Aswathnarayana ¹

Affiliations
1 Government First Grade College, Karnataka, IN

Abstract

The value creation is the process it applies to management of customer relationship in the business with a view to providing practical shape for enhancing, creating and building customer value and in terms of stakeholder’s value in a competitive world. Value creation is a business strategy and frame work for the purpose of achieving organizational goals through customer relationship management by delivering superior value to customer and consequently value is to be delivered to suppliers of the organization. To achieving sustained customer satisfaction and retaining the existing customers are becoming more challenging as the expectations of customers are increasing. Therefore, using innovative tools like customer value creation and customer value management not only satisfy customers but also make loyal customer and in turn profitable customer and finally lifetime value customer. This article focuses on strategic customer relationship management tools used in improving customer satisfaction and loyalty and also how to create the customer lifetime value for the customers through Customer relationship management. This research article attempts to understanding of the CVC, CVM and CLV and its value and benefits, through Customer Relationship Management.

Keywords

Customer Relationship Management (CRM), Customer Value Creation (CVC), Customer Value Management (CVM), Value Proposition, Customer Lifetime Value (CLV).

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