Task1
Task 1
At first, I disagree with this statement. I think Customer Relationship Management (CRM) is universally appropriate or applicable to all businesses.
Customer relationship management refers to a series of processes, focused on initiating two-way communication exchanges with customers to have a detailed knowledge of their specific needs and buying patterns. The major benefit of a CRM system is that it helps business organizations in determining the type of customer best suited for the growth of their business. CRM enables business organizations to formulate strategies focusing on customer-driven growth and in providing superior and friendly customer experience
There are four advantages of CRM that businesses should implement this strategy. * Customer Satisfaction
By implementing CRM strategies, the company can focus on improving customer satisfaction through examination of customer preferences, demographics and interests. This information may be collected through automated surveys or personal phone calls from customer service representatives. Customer research may be performed to discover the reasons why one product is more popular than another. Customers typically enjoy the attention they receive and the interest in their happiness and satisfaction with the product, and the data that is collected can help the company produce better products and services in the future, contributing to improved customer satisfaction. This also improves customer retention over the long run.
* Marketing
The data that is collected through customer research can provide ideas for marketing and advertising for a big business. With many products or services to market, a large company may have difficulty targeting different customers for each item. However, customer research will provide information about what the customer likes about the product, what they are looking for in future products, and what purpose they would like the product to serve. All of this information
At first, I disagree with this statement. I think Customer Relationship Management (CRM) is universally appropriate or applicable to all businesses.
Customer relationship management refers to a series of processes, focused on initiating two-way communication exchanges with customers to have a detailed knowledge of their specific needs and buying patterns. The major benefit of a CRM system is that it helps business organizations in determining the type of customer best suited for the growth of their business. CRM enables business organizations to formulate strategies focusing on customer-driven growth and in providing superior and friendly customer experience
There are four advantages of CRM that businesses should implement this strategy. * Customer Satisfaction
By implementing CRM strategies, the company can focus on improving customer satisfaction through examination of customer preferences, demographics and interests. This information may be collected through automated surveys or personal phone calls from customer service representatives. Customer research may be performed to discover the reasons why one product is more popular than another. Customers typically enjoy the attention they receive and the interest in their happiness and satisfaction with the product, and the data that is collected can help the company produce better products and services in the future, contributing to improved customer satisfaction. This also improves customer retention over the long run.
* Marketing
The data that is collected through customer research can provide ideas for marketing and advertising for a big business. With many products or services to market, a large company may have difficulty targeting different customers for each item. However, customer research will provide information about what the customer likes about the product, what they are looking for in future products, and what purpose they would like the product to serve. All of this information
References: 1. Why Customer Relationship Management is so important? (2008) By Article Alley [online] Available from http://praveenortec.articlealley.com/why-customer-relationship-management-is-so-important-576369.html [Accessed on 12 Jan 2013] 2. Challenges of Implementing a CRM (2010) By Matt Koble [online] Available from http://www.ehow.com/list_6631188_challenges-implementing-crm.html [Accessed on 12 Jan 2013] 3. Tools of Sales Promotion (2005) By Chris Joseph [online] Available from http://www.ehow.com/list_6073558_tools-sales-promotion.html [Accessed on 12 Jan 2013] 4. Disadvantages of Sales Promotion (2008) By Drypen [online] Available from http://drypen.in/sales-promotion/disadvantages-of-sales-promotion.html [Accessed on 12 Jan 2013]