DefinePK

Abstract

Theories of marketing register a shift from the paradigm of involving customers for production calls to a more profound relationship between producers and customers. For this purpose, Customer Relationship Management (CRM) has widely been used in organizations to manage, retain and satisfy the customers, but seldom used for the recurrent interaction for value creation. The present study proposes using CRM process with system dynamic perspectives for the recurrent interaction of value creation. CRM is a highly split setting and has come to mean different things to different people, so as  it  evolves with second order cybernetics it will help to open new horizon of success for organizations. This paper aims to fill this gap and pave the way through a prototypical towards a better understanding of the mechanisms Viable System Model (VSM) of CRM for value creation.