Relationship Management Essay Example | Topics and Well Written Essays - 2000 words

Relationship Management - Essay Example This revolution led to the renovation of a marketplace into marketspace, where businesses and communications were carried on not physically but virtually. But still many marketspaces faced a lot of problems in the field of virtual customer relationship management or CRM. Building relations with clients or suppliers virtually is very tough due to the trust factor, i.e. it is very hard for people (clients, suppliers, dealers, or people related to the e-business or marketspace) to trust somebody that they have never ever met. This used to be a very serious issue because this was one of the largest disadvantages that the e-commerce industry had faced, not only a disadvantage but slowly and slowly this became a setback for the industry. But eventually just as any problem that technology has faced in the previous centuries, this disadvantage for this industry is gradually being removed and more and more reliable ways to deal with the e-commerce industry are being fabricated. The term e-commerce had been originated in the late 1970’s. At that time the term e-commerce was introduced only for online transfer transactions such as data transfers, purchase orders, funds transfers and codes transfers; that is, all the data transfer that was related to business and was done electronically was termed as e-commerce. (e-commerce land, 2007) E-commerce has surpassed itself from just being a technology, instead e-commerce or e-business is a whole new revolution in the marketing, CRM (Customer Relationship Management) and management industry. (CRM, better management.com) Since the beginning, e-businesses have proven to be a much better way to stay in contact with the consumers and to have a better approach towards the markets via creating virtual marketspaces and eliminating the geographical boundaries. These fresh techniques (e-business & marketspace) grew at a lightning pace because of their geographically