Here is the synopsis of our sample research paper on Data Use in CRM. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
A 3 page paper discussing the use of data in customer relationship management. Marketers and the marketing discipline devoted much time and energy to developing what would come to be known as the marketing mix, the four "Ps" of marketing that have guided marketing efforts for years. The four Ps have been criticized as being too myopic for current use; an alternative is effective use of customer data. Bibliography lists 4 sources.
Page Count:
3 pages (~225 words per page)
File: CC6_KSmktgCRMdata.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
marketing discipline devoted much time and energy to developing what would come to be known as the marketing mix, the four "Ps" of marketing that have guided marketing efforts for
years. Chan (n.d.) states that the marketing mix "has been criticized for being too myopic in this current market situation." An alternative is effective use of customer data.
Customer Relationship Management (CRM) Buttle (2004) states that relationship marketing is CRM without the technology component and without "the management of relationships with
other members of the business network: the partners, employees, suppliers." Another author refers to customer value as competitive advantage. "Instead of just promoting our brand or product or
service to a customer segment, our goal is to find out what each customer wants and needs, and then to set up what we offer a customer next to fit
those needs" (Building Customer Value, n.d.). Clow and Baack (2007) refer to CRM as "the application of data to the selling process" (p.
360). The programs by which CRM operates and is measured "are designed to build long-term loyalty and bonds with customers through the use of a personal touch facilitated by
technology" (Clow and Baack, 2007; p. 360). CRM is most effective when "customers have highly differentiated needs, highly differentiated valuations, or both" (Clow and Baack, 2007; p. 360), as
is the case in the airline industry. CRM is directly dependent on technological assistance in collecting, tracking and analyzing customer data for the
purpose of enhancing customer value, customer profitability and customer retention. CRMs three basic technological requirements are: * "Database technology, including the ability to analyze and map data * "Interactivity
...