INVESTIGATING THE EFFECTS OF CUSTOMER RELATIONSHIP MANAGEMENT AT SACHA COSMETICS TRINIDAD AND TOBAGO LIMITED.
INVESTIGATING THE EFFECTS OF CUSTOMER RELATIONSHIP MANAGEMENT AT SACHA COSMETICS TRINIDAD AND TOBAGO LIMITED
The concept of customer relationship management has become increasingly used in strategy and marketing literature in modern times. The term Customer relationship management is considered central to competitive advantage and long-term success of any business organizations as it is a strategic weapon in attracting and retaining customers locally and globally. As a result, a great importance is attached to this assumption. This dissertation attempts to put together an integrative configuration of the concept of customer relationship management highlighting its key components.
Organizations today have evolved to adapt to the environments foreseeable change which has resulted in an evolution within the operation processes of firms, generating an atmosphere that incorporates high levels of customer focus as Peter Drucker (1973) held that a firm’s initial undertaking is “to create customers”. Businesses have attempted to achieve this via customer relationship management. Many companies have developed marketing systems that creates customer value whereby product, services, personnel and image value are all geared towards the accomplishment of satisfying customers. It is greatly perceived that a satisfied consumer is more probable to become a loyal customer to a company and consequently the firm can retain its clients. Therefore, organizations are adapting to the modern alternation within the macro-environment to achieve maximum profitability through an increased customer base and subsequent sustainable competitive advantage.
1.2 THE COMPANY PROFILE
Sacha Cosmetics Trinidad and Tobago Limited is a manufacturing company that provides women with a wide range of beauty products. The company has implemented a focus differentiated strategy that has targeted a specific niche segment of the market. It was established since 1979 The company is currently the world's Caribbean leading direct seller of beauty and related products, with over $8 million in annual revenues. Sacha Cosmetics Trinidad and Tobago Limited markets to women around the world through over two thousand independent sales representatives. The firm vision is to be the company that best understands and satisfies the product, services and self-fulfilment of the needs of women both locally and internationally. The firm prides themselves by abiding by five values: Trust
These values have assisted Sacha Cosmetics Trinidad and Tobago Limited in becoming the world’s first Caribbean leading direct seller of beauty and related products.
1.3 ENVIRONMENTAL ANALYSIS
Sacha Cosmetics Trinidad and Tobago Limited (subsequently referred to as Sacha Cosmetics). The intercontinental company has selected an environment that is politically and economically stable. Its social environment provides a suitable market for the cosmetic products that are offer by the company as its female inhabitant’s accounts for 49.2% of the population size of which 74.7% is the market that Sacha Cosmetics Trinidad and Tobago Limited aims to target. Additionally, the country is technologically advanced providing assessable routes for shipment of products via both airways and sea and its legal framework readily encourages international business into the country as it provides employment for the existing population. Trinidad and Tobago has implemented various environmental policies that restrict ecological and animal destruction; however Sacha Cosmetics Trinidad and Tobago Limited also abides by these terms...
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