The Value Profit Chain by James L. Heskett & W. Earl Sasser Jr. & Leonard A. Schlesinger

Author:James L. Heskett & W. Earl Sasser, Jr. & Leonard A. Schlesinger
Language: eng
Format: epub
Publisher: The Free Press

■ Customer/Vendor Relationship Management

The decade of the 1990s saw a rush to embrace concepts of CRM, customer relationship management. 4 But just as vendors began applying more sophisticated tools for managing relationships with customers, however, the explosive growth of the use of the Internet by customers occurred. As a result, customers achieved greater potential power to manage relationships with their vendors by gaining access to more transparent product, price, and service information that enabled them to begin playing off one vendor against another. This was thought by some to sound the death knell for customer relationship management. Ironically, it hasn’t turned out that way, but the growing potential for vendor relationship management on the part of customers represents an equally important lever for managing change, as we will see.

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