Customer relationship management or CRM for short is a model for managing a company’s interactions with current and future customers. When CRM is utilized correctly it will increase profitability and customer loyalty, which are both very important to an organization. It involves using technology to organize, automate, and synchronize sales, marketing, customer service, and technical support. Customer relationship management is very important in many ways to help a company become and stay successful. CRM can help businesses gain a competitive edge through communication, marketing, gathering customer information, social media and mobile technology.
Marketing builds relation with customers providing superior customer value and attracts them providing value added services as well as increases the number of potential customers in a regular basis. Marketing understands the customer needs, designs a superior strategy based on need, want and demand, builds strong relationship with the customers and capture value from the in return. Marketing creates customer loyalty and retent... ... middle of paper ... ...rvice. In fact, Sheila reckoned the market factors very importantly to her marketing plan. A better understanding of the market information can be useful for the successful marketing plan.
Businesses can increase their CSR by supporting public expectations, focusing on long-run profits, complying to ethical obligations, boosting their public image, bettering the environment, discouraging further government regulation, balancing responsibility and power, remembering stockholder interests, and building a superiority of prevention over cure. The benefits to developing a positive CSR are an enhanced ‘brand image’ with regard to trust and reputation, new customers and development of a strong relationship with consumers, a better ability to attract and motivate a talented workforce, and the availability of new resources by influencing key stakeholders (investors and policy makers). On the other hand, if a company was to not undertake CSR, there would be negative impacts on that organization. For example, there would be an unfavorable public opinion and increased reputation risk. This might lead to decreased shareholder value and a diminished stock price.
This is why companies can get very competitive to have an edge over their rivals by having a better image in the eyes of the public. Also PR helps the public get to know companies and how they operate. To provide the best service possible, business will conduct surveys in order to identify issues with product and complaints that the public might have. This process of public relations will boost customer relations, increase productive, and create a positive image that will bring in more consumers.
The post of Public Relationship Manager or Public Relations (PR) deals with the activities an entity carries on to enhance its image in the public (Wisegeek, 2011). It encompasses all the communication practices that aim at exposing the company to the public in a good light to captivate the interests of existing and potential customers, investors, lenders, employees, and to promote a good relationship with governmental regulatory bodies. Job description A PR manager undertakes a supervisory role over the public relations staff as they implement programs aimed at publicizing the firm. The manager designs and guides activities that establish and maintain an impressive corporate image which drives the employees and the public to have high regards for the company (O*net online, 2010). Job specifications The job will require the manager to carry out the following duties: Work towards building and maintaining valuable working relationships that will open up lucrative business opportunities by being professional when dealing with customers, policy makers and especially with the media (Knowthis.com, 2011).
In a market let, or asset let company, direct customers, and the customers which make up a market needed to be communicated with effectively in order for market trends to be discovered. Knowing what's popular, or what might soon be within a market could give a company a vital lead over its competitors. Market research in the form of surveys may be used to achieve this. After sales communication with existing customers is also very important. In a market where people are loyal to brands, or infrequently change companies, such as with bank accounts, keeping customers happy will help ensure that a company keeps that customer.
The reasons for setting such goals are mainly to promote a positive culture among employees, and to create a good reputation for the business amid customers and vendors; as well as setting boundaries between what is right and what is wrong. Thereupon, this essay, with reference to the film “Erin Brockovich”, aims to investigate the extent of which ethical objectives affect the future of an organization. Taking ethical objectives into account, any organization following such ethical behaviors might be affected negatively in the short time, but undoubtedly it will impact the organization positively in the medium to the long term. Structural changes within an organization need to be made in the short term to account for ethical objectives, including but not limited to changes in the organizational structure, staffing, and programs. These measures are costly; thus they might impact the revenue of the organization.
Strategic management can also have its disadvantages. A few disadvantages are time and effort that is put into the company, and discussing what is important for the company’s long-term goals. Another disadvantage is managers stay on the planning stage but forget to implement and take control of the plan. If strategic management is not enforced than this can cause effects on the companies market shares, and profitability. Enforcing a strategic plan will play a major role in the companies
A whole new customer relationship technique called SCRM had been developed. SCRM makes it possible to provide a better customer service and also maintain a better customer relationship. Also, there is evidence that the use of social media has a positive effect on the customer satisfaction. Social media generates a lot of big data which brings new opportunities to organisations. By performing data analytics organisations are able to predict the customer buying behaviour and improve the customer experience this results in a more personal relationship between the organisations and the customer.
In conclusion, social media has many effects in society. An interview with a employee for the Red Wings showed the truth on his views and how he feels social media affects business in the Red Wings, he stated that “Social Media has a positive effect on business because it raises interest of customers on the off season also it encourages for fan participation/ communication with fans to provide a caring and trustworthy relationship" (Sciarratta). Most all effects are positive, however, there are some negatives. Overall the positives outweigh the negatives and because they provide help by providing increasing income and customer amounts. Businesses can use this to increase their overall customer base and income and see how the positives are very beneficial and the negatives are little to none.