Customer relationships marketing Essay -- essays research papers

Literature Review The Evolving Sales and trade Landscape Marketing and assembly line development professionals argon confronting a quickly different and changing business landscape. The traditional business model that was at a time the standard is now being transformed due to technology drivers that describe advanced trade and gross revenue capabilities possible. The business model of yesterday alimentation mass merchandising, mass production, and standardized cookie-cutter products and services. Enterprises will have smooth behind the competition if they continue to rely and operate on this inferior model. Today, companies are re-engineering their operations and investing in enhanced IT infrastructures, which enable them to stomach customized, personalized, schooling-rich products and services. The new objective for marketers and business developers involves visualizeing the needs of their customers and the markets that they serve. This new strain on providing guest value is redefining business processes. Professionals, who understand and anticipate this shift, are positioning themselves ahead of the competition. The Impact of Technology Enabled Business Processes There is no denying the effect that technology has had on the way we conduct business. In recent years, technology has begun to play a significantly larger role in all aspects of business, including sales and marketing. Business processes must be re-engineered to incorporate a pro-active strategy for using information and IT to build a competitive gain over other organizations. In many instances, the functionality provided by sales and marketing technology only automates current processes. Therefore, it is imperative that processes are clearly outlined and well proven. Automating a poorly understood or followed process ordinarily results in failure. Technology must be use as an enabler to support an already sound sales and marketing strategy. Beyond automating sales and marketing capabilities, technology is now designed to provide professionals with a wealth of information about their companys clients and the markets that they serve. Companies are now able to postulate data about their customers that when analyzed and utilized properly, can result in a competitive advantage. Online shopping is a prime example. If a customer makes a purchase, then the transaction is completed and revenue is generated. However, if a... ...tomer profile found on data received from web registrations, surveys, as well as historical interactions. Information from client transactions can be used to determine customer preferences, needs, as well as activities or events the client has attended. This information can be used when making decisions on how to ruff optimize sales with that client in the future. The Architectural Components of a CRM To understand the structure of a CRM solution one must consider the business model it is designed to support. As mentioned previously, mark eting and sales departments are much and more relying on relationship marketing as a means to more effectively acquire and retain clients. In short, in order to joint competitive, companies must operate based on a customer-centric business model. The Gartner company predicts there is an 80% probability that by 2001, 70 percent of marketing applications will be entirely redesigned to focus on customers instead of products and redeployed to ca-ca advantage of emerging technologies. CRMs are at the forefront of emerging sales and marketing technologies, but there are many tools that contribute to this technologies ample functionality. Word Count 2020