School of Management Sciences, Varanasi.
Customers are becoming increasingly fickle and sophisticated. Technology has given them a plethora of choices and unprecedented access to information. As power is shifting to the consumers, the organizations are trying to find new ways to understand and reach their consumers. Integration of the customer, around whose needs, the business activity revolve, the chain has cut down the iterations of product design, movement etc. and have increased quality and productivity of produces of the organizations there by generating higher profits. Today, technology is enabling companies to extend their reach in managing the supply chain and to operate in a coordinated fashion from raw material supplier to the end consumer. Leading companies are beginning to create synchronized supply chain that are driven by needs of the market and in essence are moving the supply chain closer to the customer. To succeed with this new model, however, executives will have to understand and employ several critical concepts used in the field of Customer Relationship Management (CRM). The proposed paper envisages studying the practice of CRM, developing and using customer insight, linking customer to supply chain, opportunities and challenges of the E-Commerce, the role of process and A New Business Model -Virtual Value Chain: A Case of Technology Trend in Banking Services.
