Dynamic capabilities: the missing link in CRM investments

Abstract

The purpose of this paper is to illustrate the practical application of dynamic capabilities theory to improve investment decisions in customer relationship management (CRM). Design/methodology/approach – Action research (AR) allows managers to raise the tacit knowledge of their dynamic capabilities to a level where they can be identified and developed. A framework and a process for managing dynamic capabilities in marketing are presented. Findings – The findings relate to the nature of dynamic capabilities in marketing and how they are managed. Practical implications – Marketing managers can improve the return on investments in CRM. Originality/value – The paper presents a method for applying dynamic capabilities drawn from the resource-based view (RBV) to practical marketing p