​Which of the following models identifies the strategy development process, the value creation process, multi-channel integration process, performance assessment process and the information management process as its core processes?​

Correct option is C

Payne & Frow's model is a comprehensive strategic framework for understanding and implementing Customer Relationship Management (CRM). It identifies five core processes critical to the development and delivery of effective CRM strategies. These are:

1. Strategy Development Process – focuses on aligning the business and customer strategy.

2. Value Creation Process – determines how the organization can deliver value to customers and in return capture value for itself.

3. Multi-Channel Integration Process – ensures a consistent and integrated customer experience across multiple channels.

4. Information Management Process – concerns the collection, collation, and use of customer information.

5. Performance Assessment Process – evaluates the success of CRM efforts in terms of effectiveness and efficiency.

This model is distinct because it not only maps out the operational and strategic elements of CRM but also emphasizes cross-functional coordination.

Information Booster:

• Payne & Frow's Model is process-oriented and views CRM as a strategic, cross-functional activity.

• It helps businesses understand CRM as a holistic approach beyond just a technological solution.

• It links value creation for customers and the firm with effective channel management and data-driven decision making.

• Emphasizes integrated customer experiences, aligning back-end processes with front-end customer interactions.

• The model has been influential in both academic and practical CRM implementation.

• It is designed to drive long-term profitability through structured customer engagement.

Additional Knowledge:

(a) The IDIC Model: Proposed by Peppers and Rogers, this model stands for Identify, Differentiate, Interact, Customize. It’s customer-centric but does not break CRM into core processes like strategy, value creation, or channel integration. It focuses more on personalizing customer relationships based on individual needs.

(b) The CRM Value Chain: Developed by Francis Buttle, this model emphasizes the creation of customer value through strategic and tactical CRM elements, including customer portfolio analysis and network development. However, it does not delineate five distinct core processes as Payne & Frow's model does.

(d) The SCHEMA Model: This model outlines a structured approach to managing CRM projects, emphasizing stages such as Scoping, Customer Strategy, Engagement, Measurement, and Action. It’s more project-management oriented and lacks the comprehensive strategic process framework provided in Payne & Frow’s model.