The components of the CRM strategy are included as follows: the value proposition, business case, customer strategy, stakeholders and enterprise transformation plan. The value proposition spells out what the organization must provide in order to satisfy customer expectations. The business case is an assessment which indicates the shareholder value and financial return of delivery of the required customer value. The customer strategy indicates how different customer segments will be formed and managed. Finally, all relevant stakeholders must be familiar with the plan, to make sure that the necessary value propositions are determined and provided to the targeted customer segments.(Cravens and Piercy, 2009)
Geographical extension is an essential condition for the local company positioned the price handicap rather than to extend its outlets while innovating. Globalization particularly affects products by allowing overall savings and leaps in the experience curve. Many multinational firms follow a multi-local philosophy, preferring to follow specific trends in each country’s market. Social and cultural changes provide a favorable platform for global brands, Part of the market no longer identifies with long-established local values and seeks new models on which to build its identity. Turning its back on prevailing national values(Kapferer, 2004).