| Publisher | Carnegie Mellon University | ||
|---|---|---|---|
| Format | 125.6KB PDF | Date added | 01 Jan 2006 |
| Topics | Database Management | ||
| Downloads | 13 | ||
CRM is about introducing the right product to the right customer at the right time through the right channel to satisfy the customer's evolving demands. Ideally, it should follow the development of each individual customer and develop integrated multi-segment, multi stage, and multi-channel CRM decisions in order to maximize the total customer lifetime profit. This paper discusses the two-step procedure ("Adaptive" learning and "Proactive" CRM decisions) and three-components for customer-centric CRM, adaptive learning (of customer individual preference), forward-looking (into future marketing consequences of current CRM interventions), and optimization (to optimally balance cost and benefit).
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