How does CRM help firms gain and maintain competitive advantage?
CRM helps firms gain and maintain competitive advantage by:
1) Segmenting markets based on demographic and behavioral characteristics.
2) Tracking sales trends and advertising effectiveness by customer and market
segment.
3) Identifying and eliminating non-value-adding products that would waste
resources as well as those products that better meet customers' needs and provide
increased value.
4) Identifying which customers should be the focus of targeted marketing initiatives
with predicted high customer response rates.
5) Forecasting customer retention (and defection) rates and providing feedback as
to why customers leave a company.
6) Studying which goods and services are purchased together, leading to good
ways to bundle them.
7) Studying and predicting which Web characteristics are most attractive to
customers and how the website might be improved.
8) Streamlining processes around customers rather than traditional functions,
resulting in improved flow of information and cycle times.
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According to ________________ theory, the information we choose to disclose is managed by our own self-set rules.
a. managerial information b. information security c. self-disclosure maintenance d. communication privacy management
In the "new era" of manufacturing, good performance indicators are
a. production-based. b. sales-based. c. cost-based. d. consumer-based.
The division of buyers into groups based on lifestyle or personality characteristics is ________ segmentation
A) behavioral B) psychographic C) values D) demographic E) needs
Products are distributed to customers and their downstream customers at all levels.
Answer the following statement true (T) or false (F)