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Customer relationship management in a networked world

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Customer relationship management and one-to-one marketing have been treated almost synonymously over the last decade. Central to the notion of customer relationship management has been an emphasis upon customizing a company's product and services to suit the unique demands of each customer. However, technology and the Internet have transformed the world into an interconnected collection of networks - of both customers and businesses. Pure one-to-one marketing concepts ar eno longer sufficient. While the central themes of one-to-one marketing remain valid, the value propositions of customer relationship management have to be expanded to account for the active networking amongst cutsomers and businesses. To help managers conceptualize the challenges and to frame adequate responses, the paper proposes the Network Relationship Management Matrix. The Network Relationship Management Matrix identifies 3 different extensions of customer relationship management in a networked world. The paper also proposes measures to help managers identify strategies for exploiting customer connectivity and rethinking business connectivity.

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