StudentShare solutions
Triangle menu

Customer Knowledge Management - Essay Example

Not dowloaded yet

Extract of sample
Customer Knowledge Management

Customer knowledge gained from firsthand customer contact is very persuasive. Smart CEOs at firms like IBM, Cisco, and EMC intuitively realize this, and their senior managers contact their major customers on a regular basis. These firms also act on that information to improve relationships with those important customers. The benefits of customer knowledge management have concentrated at the individual level. For example, Dreyfus, like other mutual fund firms, keeps track of client activity, claiming that they can predict when a client is going to shift money out of their mutual funds. Clients receive a call from a Dreyfus representative, who wants to know how the client feels about the investment and if his or her goals are being met. If Dreyfus is able to track clients at all stages of the consumption process, then the firm has a better chance of retaining the customer. A number of CRM - and ERP-type software programs allow companies to track processes in the life of a specific sales order from order entry all the way to delivery to customer. Of course, FedEx introducing package tracking is a well-known example from years ago. There are a number of benefits of information technology for firms of any size. The marketing research practice has undergone a major transformation in recent years. A primary function of marketing research activities is to collect and analyze customer information. Technology has enabled all phases of the marketing research process ranging from sampling and data collection to analysis and reporting. With newer technologies and faster cycle times, firms conduct research at all stages of the product lifecycle and not just at the product development stage or the test marketing stage.  ...Show more

Summary

This essay describes customer knowledge management.The quality of the knowledge on the customer is much greater because of direct observation. Obtaining that knowledge is only the first step. The basic skill of listening involves competence in sensing, evaluating and responding…
Author : myramaggio
Customer Knowledge Management essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Customer Knowledge Management"
with a personal 20% discount.
Grab the best paper
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation