Customer Retention as a Part of Customer Relationship Management of Private Broadcasting Radio Stations (PDF)

Seminar paper from the year 2007 in the subject Business economics - Customer Relationship Management, CRM, grade: 1,7, Technical University of Ilmenau (Institut für Betriebswirtschaftslehre), course: Marketing Vertiefung, language: English, abstract: More and more companies realize the value a customer relationship management can deliver in a long-term perspective. Especially in the service market, the relationship between customer and company is substantial for doing successful business.
This could be said for the private radio broadcasting companies, too. As they are part of the service market, their success also depends essentially on relations. Traditional channels as well as the upcoming possibilities of communication over the Internet offer new ways to interact and retain with customers. The radio broadcaster's challenge is to identify the right channel for its customers. This justifies the need for a structured way of implementing customer retention
in private broadcasting companies. We are convinced that this could be done through use of
the strategic framework. So in the following paper, we examine the question: "How far can a strategic framework for CRM be used as a holistic approach to achieve customer retention in private broadcasting companies?" Therefore, it is necessary to examine both the strategic framework and the private broadcasting radio companies in detail. Afterwards, the framework has to be adjusted to the features of the private roadcasting companies.