Dynamic capabilities: the missing link in CRM investments

Purpose 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 problems.