Five Marketing Management Concepts

A strong brand can gain trust and confidence in a product and enables a business to charge a premium price. This makes a well-known brand a valuable asset to a business. 5.5 Explain the relationship between sales and

In easy words, the organization wants to improve their delivery to their customers. An organization is connected of various parts and has many sub systems including Finance, Human Resource, Information Technology and marketing as well. When these all aspects are combined then they form a company. This study focuses on using the company as a Systematic thinking and this approach is very important to determine the most appropriate technology for the company based on the concerned problems. Systematic thinking is a management discipline that focus on understanding the system by linking the various components within the entire

1. Explain to Mrs. Wen what CRM is and how CRM is different from traditional marketing. Customer Relationship Management (CRM) is a term that refers to practices, technologies, and strategies that organizations use to oversee and analyze customer interaction and information. This is done through use of the consumers’ lifecycles, with the objectives of enhancing business relationships with customers, helping with customer retention, and increasing profitability. It is basically a system created by the company to interact with its customers effectively and efficiently.

This study is an initial attempt to consider several ways to manage Propen-tus’s relationships and interactions with existing and potential customers, in other words, customer relationship management (CRM). According to Buttle and Maklan (2015), CRM is not only about the application of technology but also a strategy to learn more about customers’ needs and behaviors in order to acquire, retain and develop stronger relationships with them, or even to terminate the relationships when needed. CRM affects the way how a com-pany operates to improve customer service and marketing functions to market more effectively and increase sales. It is grounded on high quality customer-related data and enabled by information technology (IT). 2 BACKGROUND 2.1 The

This innovation supports new functionality that improves quality of customer interaction and satisfaction. • Empowers business processes with direct control related to customer service •Make available a platform for further business innovation and service improvements offered to customers4 Impact of the Innovation A Customer Information System (CIS) is critical to ensure customer satisfaction and meet complex billing requirements. A CIS manages account, consumption and billing data, and delivers a distinct solution for tracing all interactions with your customers. Customer Information Systems of today are far more complex and intuitive than 4 www8.hp.com/h20195/V2/getpdf.aspx/4AA3-1817ENW.pdf?ver=0 8 | P a g e earlier traditional utility billing systems. Having a recently updated Customer Information System (CIS) allows company to build the kind of customer relationships needed to maintain and thrive in today’s ever competitive marketplace.

Moreover, they also rely on easily retrievable performance indicators, which grants your company with an instant monitoring of the first stages of the implementation. Based on data gathered through your customer web activities, your business will be able to attain insights which grant you with the possibility to create individualized content across channels. 2) Tailored content and segmentation The key to personalization is highly tailored and segmented content, offering, messages, which has to be modelled over your customer base. Your content has to be engaging in every channel, to positively impact and influence on your customers experience, and as a consequence of their loyalty and on your customer retention. In order to achieve such a desirable result, it is recommended to rely on segmentation, customer insights retrieved from a segmented audience, and to further target contents and

This may involve promotion of the product, creation of an extensive distribution process to reach a wider consumer area, and putting attractive pricing to lure more customers into purchasing the company’s products. Coming up with innovative ways of increasing the usage of the product will also, help a company improve its sales in an established market (Maria, Grandinetti, & Bernardo, 2012, p.

Purpose of the research A market research plays an important role in business. It helps us a lot in business decision making by eliminates the risks that involve when operates a business. Besides, obtaining up to date information enables us to have a better understanding in customer’s needs thus provides the products or services that attractive and suit with them. The study of market is also one of the tools to evaluate the performance of the business within same industry. It can enhances the growth of a company or business by developing appropriate strategies.

2. Introduction Change is the key to success. There are many different types of change and different approaches to managing change. Change help to secure the future of a company so that they can remain competitive and continue to grow. Factors that are necessary for change to happen in an organization are identified into people, market, technology, communication and competition.

I would agree that it is because of these reasons that provide a great amount of credence for the introduction of management consultants to solve certain problems in which the company is facing. These benefits allow companies to formally understand specific situations in which they are facing. It can bring new perspectives that can upturn existing cultures within organisations. Management consultants can provide crucial support for their clients that can provide integral skills for supporting client based relationships. They