Got a tricky question? Receive an answer from students like you! Try us!

CRM assigment - Essay Example

Only on StudentShare
Undergraduate
Essay
Miscellaneous
Pages 4 (1004 words)

Summary

Obtaining that knowledge is only the first step. The basic skill of listening involves competence in sensing, evaluating and responding. A study of 500 new car buyers found customer…

Extract of sample
CRM assigment

(Leonard 1997) 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 life cycle and not just at the product development stage or the test marketing stage. This is at the aggregate level, whereas there is another change in research on the customer at the individual level, where technology is enabling customers ...
Download paper
Not exactly what you need?

Related Essays

CRM industry
Simply speaking, they have to find where to buy what with the greatest benefit for the company.…
3 pages (753 words)
see the assigment attached
Therefore it is possible to read E.M Forster’s novel A Passage to India, written many years before the Indian independence, as a text that represents both colonial and postcolonial sentiments. Derek Walcott’s long poem ‘The Schooner Flight’ deals with the complex cultural aspects of identity and nationalism in the colonial Caribbean islands.…
4 pages (1004 words)