Running head: PROBLEM SOLUTION: TERATECH
Problem Solution: TeraTech
University of Phoenix
Problem Solution: TeraTech
The goal of this paper is to identify the different issues and opportunities for TeraTech as well as the different alternatives available to solve their current problems. The highest levels of customer satisfaction and sales will be obtained once the end-state goals are defined and solutions are developed.
To be successful in increasing sales and profits, the organization must take steps to sustain customer relationships and improve the business processes. Improving business processes can be done by scanning the environment to identify the social, economic, and competitive forces that might affect or influence the business. ¡§The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called environmental scanning¡¨ (Kerin et al, 2006). These forces have an effect on the marketing activities of a firm in numerous ways (Kerin et al, 2006). Environmental scanning provides information on market trends and helps explain why a trend is occurring. Environmental scanning also provides information on demographic changes, culture and its effects on marketing activities, macroeconomic conditions, consumer income, and changes in technology. Retrieving this information will help a marketer identify the best ways to market a company¡¦s products and meet both the current and emerging needs of customers.
Sustaining customer relationship can be done by understanding the future needs of customers and providing for those needs. This can be achieved through the process of forecasting. It is important that marketers understand buyer behavior, especially those that market to organizational buyers. ¡§Understanding organizational markets and buying behavior is a necessary prerequisite for effective business marketing¡¨ (Kerin et al, 2006).
For TeraTech, sustaining... [continues]
Problem Solution: TeraTech
University of Phoenix
Problem Solution: TeraTech
The goal of this paper is to identify the different issues and opportunities for TeraTech as well as the different alternatives available to solve their current problems. The highest levels of customer satisfaction and sales will be obtained once the end-state goals are defined and solutions are developed.
To be successful in increasing sales and profits, the organization must take steps to sustain customer relationships and improve the business processes. Improving business processes can be done by scanning the environment to identify the social, economic, and competitive forces that might affect or influence the business. ¡§The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called environmental scanning¡¨ (Kerin et al, 2006). These forces have an effect on the marketing activities of a firm in numerous ways (Kerin et al, 2006). Environmental scanning provides information on market trends and helps explain why a trend is occurring. Environmental scanning also provides information on demographic changes, culture and its effects on marketing activities, macroeconomic conditions, consumer income, and changes in technology. Retrieving this information will help a marketer identify the best ways to market a company¡¦s products and meet both the current and emerging needs of customers.
Sustaining customer relationship can be done by understanding the future needs of customers and providing for those needs. This can be achieved through the process of forecasting. It is important that marketers understand buyer behavior, especially those that market to organizational buyers. ¡§Understanding organizational markets and buying behavior is a necessary prerequisite for effective business marketing¡¨ (Kerin et al, 2006).
For TeraTech, sustaining... [continues]
Cite This Essay
- APA
-
(2007, 07). Problem Solution for Teratech. StudyMode.com. Retrieved 07, 2007, from http://www.studymode.com/essays/Problem-Solution-Teratech-118463.html
- MLA
-
"Problem Solution for Teratech" StudyMode.com. 07 2007. 07 2007 <http://www.studymode.com/essays/Problem-Solution-Teratech-118463.html>.
- CHICAGO
-
"Problem Solution for Teratech." StudyMode.com. 07, 2007. Accessed 07, 2007. http://www.studymode.com/essays/Problem-Solution-Teratech-118463.html.
