CRM is a relationship process which a company can cultivate with its customer groups/segments in such a way that it would benefit both the customer and the company. The prerequisites of any CRM programme are:
1) Both the company and the customer should be willing to stay committed to the relationship that is based on mutual benefit. This is required because process changes may have to be initiated in both organisations. Hence, the top management has to be convinced about CRM in both the companies (especially in the case of a business-to-business marketing context).
2) A non-transactional orientation on the part of the marketer. A transaction is a one-off interaction and hence CRM involves a combination of strategies that builds the relationship between the marketer and customer over a period of time (though transaction-based loyalty programmes can be formulated).
3) The marketer must be willing to invest in infrastructure required to implement CRM. The infrastructure could include Web-based hardware/software, which could effectively harness the advantages of CRM.
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