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Custome Relationship Management Assignment 2 - Essay Example

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Custome Relationship Management Assignment 2

This is said as sales force automation has a core internal system that ensures that there is contact management for identifying and recording each stage of the sales process for every other customer, right from the first contact that the customer makes with the company to the very last disposition that takes place (Humphrey, 2001). What this means is that sales force automation is going to make room for any of several customer relations management metrics to be used in measuring the outcome of the sales and its impact on the company. This may be done either by the traditional means or by use a modern marketing metrics. Marketing Plan Objectives The key objective to the marketing plan is to ensure that the company is put in a position to track the inputs of its customers by way of sales at an individualized level. Commonly, companies treat all customers as the same and so prepare a similar strategy towards their sales. Meanwhile, marketing research has showed that purchasing behavior of no two customers could be exactly the same and so it is always important that clients be looked at from an individualized perspective (Chen and So, 2002). It is also the objective of the marketing plan to find major areas of weaknesses and strengths for the company in terms of sales so that the right kind of inventory can be made to meet the exact needs of customers. In areas where there are weaknesses with sales, strategies would either have to be changed or modified. Target markets The target markets are intended to be new markets where the products of the company have not reached as at yet. This is because by making these target markets and eventually having them as part of the existing market of the company, the market size of the company will be much enlarged (Silk, 1998). As this is done, there will also be an attempt to give specialized attention to specific market settings where overall sales have generally been identified to be highly favorable. Some of these points are student campuses. Because of the history of the success that the company has attained from these markets, it will be necessary to reach more of the untapped population within those markets with the products of the company. Finally, business to business target strategy is suggested to ensure that the company begins to deal with other wholesale companies who would not just purchase products on retail or direct basis but make purchases on large scale basis to enhance the rate of sales for the company. Budget For each of the three forms of target markets identified, it is expected that there will be an entirely different budgetary allocation of funds. At this point of the budget, much of the focus will be expenditure as against income as the company needs this in the market plan to know how much it would spend in all in establishing these target markets. Among the three target markets therefore, the new location markets are expected to take the largest portion of the overall allocated budget. In percentage terms, this is expected to receive 60% allocation while the business to busin ...Show more

Summary

CUSTOMER RELATIONS MANAGEMENT Selection of CRM System The proposed customer relations management system for the company is the sales force automation. Before delving into the major components and structure of this customer relations management system, it will be emphasized that this is selected as it makes room for as much involvement of technology based software and team work as possible (Chen and So, 2002)…
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