| Publisher | University of Houston | ||
|---|---|---|---|
| Format | 122.1KB PDF | Date added | 21 Mar 2006 |
| Topics | |||
| Downloads | 657 | ||
Customer relationship management suggests that sellers identify their most valuable customers and provide special products/services to them, either immediately in an effort to build a sense of commitment to the firm (an acquisition strategy) or just as they are thinking of leaving (a retention strategy). While a monopolist profits most from an acquisition CRM strategy, assuming costs are held constant, the main result of the analytic model is that in a competitive marketplace one firm pursues an acquisition strategy and its rival uses a retention strategy. A critical ingredient in this finding is exogenous and identical customer churn rates. While a monopolist should choose acquisition CRM, when there is competition a first mover should choose retention CRM.
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