Introduction

Abstract

Over the past decades, more and more organizations have refrained from product-centric marketing and have moved toward a customer-oriented management of relationships (Reinartz et al. 2004). Taking a broad and strategic perspective, customer relationship management (CRM) can be interpreted as a general approach reflecting a customer-oriented business culture, which tries to win and keep customers by proposing and creating high value (Buttle 2004; Payne and Frow 2005; Payne et al. 2017). However, the scope of CRM is greater than simply acting customer-orientated since it combines the analysis of value to the customer and value to the supplier (Boulding et al. 2005).