Most organizations will experience having dissatisfied customers. Addressing the concerns of those customers in a timely manor could result in continuous growth and a competitive advantage. Most companies should perform environmental scanning in hopes of identifying any market trends and specific markets to target, as well any competitors that may threaten the company's end goal. In addition to what was listed previously, companies such as Tera Tech will need to keep a great deal of customer relationships in order to have a positive effect on sales and profit. Forecasting current and future customer needs can influence long-term marketing objectives of a company. This can be done by meeting the customer's requirements and making sure that all their needs are met. The purpose of this paper is to identify the issues and opportunities facing Tera Tech, the stake holder's perspective and their ethical dilemmas, the problem facing the company, the company's end-state vision, and possible alternatives for solving the company's problems. Finally, the paper will provide an optimal solution that Tera Tech could implement in order to meet their goal of improving sales growth by increasing the number of customers the company has.
Tera Tech is a company that provides Customer Relationship Management (CRM) solutions to companies in the pharmaceutical industry. CRM is a way for companies to keep track of current customer relationships and focus efforts on meeting customer needs to create a lasting relationship. Great deals of companies that offer CRM technology focus a great deal of their attention on servicing their customers to ensure repeat business.
Currently, Tera Tech is a dominant player in this new arena. With competition increasing, Tera Tech's growth opportunities are threatened. Though the company has been successful in providing operational CRM tools to pharmaceutical companies, it has plans to develop... [continues]
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