1.What is customer value and why is this term necessary for CRM?

Customer Value, or Customer Value, is the sum of all the benefits a customer
receives from purchasing and using a product or service. It includes not only price
and quality, but also added values such as convenience, buying experience, and
positive emotions related to the product or service.

This term is essential for CRM (Customer Relationship Management) because it

helps businesses better understand what customers value and expect. When
businesses provide higher value to customers, they not only enhance customer
satisfaction and loyalty, but can also increase revenue and reduce costs, thereby
improving business efficiency. CRM uses this information to optimize marketing,
sales, and after-sales service strategies, in order to provide the best possible
customer experience and build long-term and profitable relationships with them.

Example

Apple: Apple uses CRM to manage relationships with customers through services
like iCloud and the Apple Store. They provide a seamless and personalized user
experience, from product purchases to after-sales support

2.What technologies influence strategic CRM, on both the consumer and

corporate sides?

Modern technologies such as Big Data Analytics, Artificial Intelligence (AI) and
Machine Learning, Cloud Technology, Social Networking, and Mobile Technology
are having a strong impact on how businesses implement CRM strategies. They
help businesses not only better understand customers through data analysis, but
also create new opportunities to interact and serve customers more effectively.

Case in point:

Vinamilk uses a cloud-based CRM system to store and manage customer

information. They apply data analytics software to understand customer needs
and behavior, thereby sending appropriate emails, messages, or offer
notifications. Vinamilk also develops customer care programs such as points
program and Vinamilk Club to retain existing customers and attract new ones.

3.List some key changes in the business environment. How did these changes
drive the shift from product-based marketing to customer-based marketing?

The modern business environment is witnessing major changes, including:

The strong development of digital technology, helping businesses personalize

products and services.

The labor market is tight, requiring businesses to find ways to attract and retain
talent.

Changes in government regulations, forcing businesses to adapt quickly.

These changes are driving the shift from product-based marketing to customer-
based marketing, creating personalized and unique customer experiences, and
being the foundation for the sustainable development of businesses in the digital
world.

Practical examples:

Olaplex: This hair care brand became one of the most talked about brands on
social media when they started their affiliate program, donating a portion of the
revenue from product sales to local hairstylists, helping them through a difficult
period when the salon closed.