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Title:
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THE RELEVANCE OF BEHAVIORAL ECONOMICS FOR CUSTOMER RELATIONSHIP MANAGEMENT IMPLEMENTATION |
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Author(s):
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Asle Fagerstrøm, Thomas Larsen |
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ISBN:
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978-972-8939-55-7 |
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Editors:
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Piet Kommers, Ji-ping Zhang, Tomayess Issa and Pedro Isaías |
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Year:
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2011 |
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Edition:
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Single |
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Keywords:
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CRM implementation, Behavioral economics, X-Efficiency theory, Maximization theory, Bounded Rationality, Case study |
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Type:
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Full Paper |
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First Page:
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121 |
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Last Page:
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127 |
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Language:
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English |
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Cover:
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Full Contents:
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click to dowload 
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Paper Abstract:
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The purpose of this study is to explore the relevance of behavioral economics for Customer Relationship Management (CRM) implementation. Findings from a case study showed that behavioral economic theories such as the X-Efficiency theory, Maximization theory and the theory of Bounded Rationality can expand our understanding of success and failure in CRM implementation. Our conclusion is that behavioral economics is relevant for our understanding of CRM implementation because it brings in knowledge about the irrational aspect of users behavior. |
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