Relationship Between Consumer Relationship Management and Knowledge Management and Their Impact on Company Operations

EasyChair Preprint 8559

Abstract

We are witnessing a new market era characterized by great dynamism, competitiveness, and digitalization. Companies are forced to fight for their market share as well as for the loyalty of their customers. Business models that do not change in line with new innovations and directions can be market endangered. In order to reduce this risk, most companies choose to focus on customers and create knowledge about them, based on data collected both internally and externally.

For the same reason, the introduction of the CRM (Customer Relationship Management) system in business and its connection with KM (Knowledge management) is a necessary strategy for every company. Today, there is a large amount of data (Big Data) that needs to be collected, stored, analyzed, and systematized into applicable customer knowledge. Companies are becoming increasingly aware of the importance of the aforementioned systems in making timely decisions.

Based on a review of the professional literature, the author will try to answer the question “What is the connection and impact between KM and CRM as well as their impact on the company's business?”. The paper used a standard methodology of a systematic review of the literature, based on which the current scientific knowledge on this topic will be presented.

Keyphrases: CRM, Customer Relationship Management, KM, Knowledge Management

@booklet{EasyChair:8559,
  author    = {Teodora Ivanović},
  title     = {Relationship Between Consumer Relationship Management and Knowledge Management and Their Impact on Company Operations},
  howpublished = {EasyChair Preprint 8559},
  year      = {EasyChair, 2022}}