IOSR Journal of Business and Management (IOSR-JBM) e-ISSN: 2278-487X.Volume 9, Issue 1 (Mar. - Apr. 2013), PP 47-49 www.iosrjournals.org www.iosrjournals.org 47 | Page Paradigm of Customer Relationship Management and its Various Perspectives Apeksha Jain 1 , Manoj Kumar Sharma 2 1 (Research Scholar, Mewar University, India) 2 (Research Scholar, Mewar University, India ) Abstract : The research presented in this article demonstrates that the implementation of Customer Relationship Management (CRM) activities seems to be beneficial in building a good image of the organization in the eyes of customers by making them psychologically satisfied. In today’s competitive scenario it becomes crucial for firms and specially the service organization’s to implement CRM Approach to build up a loyal customer base. The purpose of this research was to increase knowledge and understanding the concept of CRM and its various perspectives. The contribution of this article is to show that what the CRM is and how this approach works for benefiting both customer and organizations. Keywords - Customer Relationship Management, Implementation, Knowledge, Loyal, Perspectives. I. CRM as an Emerging Paradigm Relationship Marketing originated in early 1970s when the business units had a manifestation that it would be advisable to become „customer emphatic‟ rather that „product emphatic‟. Birth of CRM was because of this heedful perceptiveness. The famous writer and management consultant Peter Drucker wrote; „The true business of every company is to make and keep customers‟. Traditionally every transaction was on paper and dependent on goodwill which created hindrance in clutching customers. People used to work hard in entertaining customers by presenting new products with astonishing services; they were ready to work overtime for grasping more and more customers for increasing business. This too resulted in customer satisfaction and loyalty up to some extent, but at the end of the day there was no such bonding or relation between the two to carry on with future business smoothly (managementstudyguide.com, 2013). According to Kanitwaranun, Chantaraskul, Waiyakarn, and Keokitichai (2010), in the past, business mindset was mainly product-oriented. Companies sold what they had and did not response customers so much. The concept was continued into the 1920s and manufacturers faced increased competition and companies started to focus on selling as the foundation of marketing initiative. Consequently, the paradigm was then moved to sales-oriented. According to Raghuvanshi, Tripathi (2012), the primary reason for the emergence of CRM is the change in the marketing environment. Today marketing model is changing from the product-centered approach to customer-centered approach. Organization needs to create customized offers for customers and ensure relationship by providing better customer service and management of customer expectations. So, marketing should be devoted at enhancing customer relationships. Kotler, Jain & Maesincee (2002), stressed that one of the most important parts is value delivery and one of key strategies to do that is customer relationship management (CRM). CRM is absolutely mentioned as the critical part of many new marketing concepts. Now to understand what actually this strategy is, let us go through some of its definitions and perspectives. II. CRM : Definitions and Various Perspectives Zablah, Beuenger, and Johnston (2003) suggest that CRM is “a philosophically-related offspring to relationship marketing which is for the most part neglected in the literature,” and they conclude that “further exploration of CRM and its related phenomena is not only warranted but also despera tely needed.” CRM can be defined from at least three perspectives: narrowly and tactically as a particular technology solution, wide-ranging technology, and customer centric. These perspectives can be portrayed as a continuum (Reinartz, Krafft, and Hoyer 2004). According to Swift (2000), CRM provides enhanced opportunities to use data and information to both understand customers and co create value with them. This requires a cross-functional integration of processes, people, operations, and marketing capabilities that is enabled through information, technology, and applications. According to Gholami and Rahman (2012), four main enablers that play major role in business performance are people, technology, strategy, and process. The thought that dual creation of value is at the heart of CRM is moreover evident in all previous studies that examine the company–customer boundary.