Defining CRM Customer relationship management in its broadest sense simply means managing all customer interactions. In practice‚ this requires using information about your customers and prospects to more effectively interact with your customers in all stages of your relationship with them. We refer to these stages as the customer life cycle. The customer life cycle has three stages: ■ Acquiring customers ■ Increasing the value of customers ■ Retaining good customers It is a concept of understanding
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About The Author Michael E. Porter is the C. Roland Christensen Professor of Business Administration at the Harvard Business School. He has received the Wells Prize in Economics‚ the Adam Smith Award‚ three McKinsey Awards and numerous other honours. Introduction This is an interesting book on Business strategies and a must read for everyone who is or aspires to hold a role of decision making in any business. The book centres around the strategies that a company should implement while struggling
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product‚ with no consideration on customers’ wants and needs. Secondly‚ customer’s wants and needs were not really considered as products were pretty much standardized. Lastly‚ products were differentiated and a focus on customer ’s wants and needs came to the forefront of business concern‚ which was the needs and wants of customers. (Kotler‚ P. & Keller‚ K.). Marketing involves the satisfying customer’s needs and wants. An essential factor in the marketing process as well as a business‚ your goal is
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looking at the different customer types that visit Thorpe Park and what customer needs they have and how Thorpe Park suits their needs. First looking at the customer needs families have and how Thorpe Park meets these needs. Families with young children will need baby changing rooms for their children. Thorpe Park has baby changing rooms at nearly every toilet block and if you can’t find them they are easily locatable by looking at the parks map. Also‚ families will need buggies for their children
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Business College Aims: My aim of this report is to demonstrate an understanding of how important it is to assess the best approach to managing communications information and knowledge needs; using an examination of a range of decision-making examples used within the Oxford Business College. There is a need for the approach to be logical and systematic because it helps to address the critical elements that result in good decision making. By being organised‚ you are less likely to miss important
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Topic Gateway Series Customer profitability analysis Customer profitability analysis Topic Gateway Series No. 55 1 Prepared by Jasmin Harvey and Technical Information Service January 2009 Topic Gateway Series Customer profitability analysis About Topic Gateways Topic Gateways are intended as a refresher or introduction to topics of interest to CIMA members. They include a basic definition‚ a brief overview and a fuller explanation of practical application. Finally they
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Value Proposition Service & Pricing Assignment 3 1. Background/Executive Summary a. My Service is Public Relation Services (for Ford Motor Company) (54180) b. My customer is Ford Motor Company c. My customer is a Service Buyer d. Three key customer characteristics used to target Ford Motor Company are: • Psychographic: Succeeders ( Strong goal orientation‚ confidence‚ work ethic‚ organization ... support status quo‚ stability. Brand choice based on reward‚ prestige - the very
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discusses the critical review on the needs and motivation that influences consumers’ buying behaviour through the use of canned fruits as a product offering. Canned fruits are considered fast-moving consumer goods or convenience goods. Ayam Brand is a well established canned food brand from Malaysia since 1892 in which canned fruits such as pineapples represent one of their product lines. We find that the consumers purchasing decision is a process caused by their innate needs which triggers their motivation
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CUSTOMER PROFITABILITY ANALYSIS Customer profitability analysis (CPA) can be defined as a method used to compare the costs of all the activities used to support a customer or a customer group with the revenue generated by that customer or customer group. It is the analysis of the revenue and costs that relates to the customers which can be determined by considering the similarities and differences in customers’ buying behaviours and customer preferences. From the definition‚ it shows three features
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Possible Consequences Being Online 1. Cyber-bullying Children may receive texts or emails that make them feel sad‚ embarrassed‚ upset‚ depressed or afraid. This could be damaging to the child’s self-esteem and psychological well-being 2. Grooming Used by child sex offenders with the goal of obtaining sexual contact. 3. Confidential information Could inadvertently give out personal information such as address‚ school attended or bank or credit card details‚
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