How can companies use information technology as a competitive advantage?
What will be an ideal response?
Technology and the Internet have made the information required for marketing decisions more accessible than ever. Marketers can easily track customer buying behavior, obtain detailed demographic profiles, and anticipate what buyers want-making it possible to fine-tune marketing mixes to satisfy customers. Information technology permits for easy internal research and quick information gathering to help marketers better understand and satisfy customers. CRM has been enhanced by the ability to integrate and access data from all customer contacts. Many firms use marketing information systems, CRM technologies, and cloud computing to network technologies and organize the marketing data available to them. Improvements in information technology have made it possible for firms to develop databases that are vastly enhanced in their speed and storage capacity to guide strategic planning and improve customer service.
You might also like to view...
The first step in the questionnaire design process is ________
A) specify the type of interview method B) identify the form and layout C) specify the information needed D) determine the content of individual questions
Rico's firm manufactures homemade salsa. His product is sold around the country, but he adds extra jalapenos to his product sold in Texas, New Mexico, and Arizona because those customers prefer the extra heat and spice. Rico also markets the product differently based on the region of the country where it is sold. This represents what type of targeting strategy?
A. concentrated B. niche C. differentiated D. undifferentiated E. geographic
Valencia Corporation entered into the following transactions: a) On February 1, Year 1, Valencia purchased for cash, in the open market, 4,000 shares of its own common stock at $40 per share.b) On September 1, Year 1, 800 of the shares purchased on February 1 were sold at $41 per share.Required:Prepare journal entries required for these transactions.
What will be an ideal response?
The study of the consolidation of historical data to describe how a company has performed in the past is called ________
Fill in the blanks with correct word