The Importance of Customer Relationship Management in Business Markets (B2B)

Business & Finance, Marketing & Sales
Cover of the book The Importance of Customer Relationship Management in Business Markets (B2B) by Timo Beck, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Timo Beck ISBN: 9783640585403
Publisher: GRIN Verlag Publication: April 6, 2010
Imprint: GRIN Verlag Language: English
Author: Timo Beck
ISBN: 9783640585403
Publisher: GRIN Verlag
Publication: April 6, 2010
Imprint: GRIN Verlag
Language: English

Scientific Essay from the year 2010 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 1,0, University of St Andrews, course: Business Marketing, language: English, abstract: The business-to-business (B2B) landscape is rapidly changing due to a variety of trends: The evolving end-customer expectations drive companies to be more responsive and provide a better value-proposition to their customers. This has translated into business markets, demanding greater responsiveness, reliability, and quality consciousness from supplying firms (Sheth & Shainesh, 2001: 274). Market consolidation as a result of a wave of mergers and acquisitions in many industries during the past two decades forces many companies to focus on the few large customers that survived (Narayandas, 2003: 1). Globalization, hyper-competition, the rapid rise of information technology, and the commoditization of many products through e-commerce have resulted in better visibility of demand and supply and lower switching costs. Logistics and communication advances have made buying from across the globe as easy as buying locally (Schäfer, 2007: 10). All this has lead to an erosion of customer loyalty and the ability to seek lower priced, better quality options from a wide variety of suppliers instantaneously. Therefore, building customer loyalty through relationship management is not a choice anymore for most businesses; it is crucial for the achievement of sustainable competitive advantage (Sheth & Shainesh, 2001). This report to the head of marketing of an imaginary business-to-business supplier aims to discuss the implementation of a customer relationship management (CRM) system. More specifically, the author will define the relevant terms, outline the suggested CRM techniques, and highlight their potential benefits and limitations. At the end, some final conclusions and recommendations will be presented.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Scientific Essay from the year 2010 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 1,0, University of St Andrews, course: Business Marketing, language: English, abstract: The business-to-business (B2B) landscape is rapidly changing due to a variety of trends: The evolving end-customer expectations drive companies to be more responsive and provide a better value-proposition to their customers. This has translated into business markets, demanding greater responsiveness, reliability, and quality consciousness from supplying firms (Sheth & Shainesh, 2001: 274). Market consolidation as a result of a wave of mergers and acquisitions in many industries during the past two decades forces many companies to focus on the few large customers that survived (Narayandas, 2003: 1). Globalization, hyper-competition, the rapid rise of information technology, and the commoditization of many products through e-commerce have resulted in better visibility of demand and supply and lower switching costs. Logistics and communication advances have made buying from across the globe as easy as buying locally (Schäfer, 2007: 10). All this has lead to an erosion of customer loyalty and the ability to seek lower priced, better quality options from a wide variety of suppliers instantaneously. Therefore, building customer loyalty through relationship management is not a choice anymore for most businesses; it is crucial for the achievement of sustainable competitive advantage (Sheth & Shainesh, 2001). This report to the head of marketing of an imaginary business-to-business supplier aims to discuss the implementation of a customer relationship management (CRM) system. More specifically, the author will define the relevant terms, outline the suggested CRM techniques, and highlight their potential benefits and limitations. At the end, some final conclusions and recommendations will be presented.

More books from GRIN Verlag

Cover of the book Normalarbeitsverhältnis oder Prekariat by Timo Beck
Cover of the book Barrierefreiheit: Leichte Sprache hilft Menschen mit Lernschwierigkeiten by Timo Beck
Cover of the book Ein Streifzug durch die Geschichte der Stadt Weiden in der Oberpfalz by Timo Beck
Cover of the book Die Qual der Wahl - Welche Auswirkungen hat die Konsumfreiheit auf die Konsumentscheidung? by Timo Beck
Cover of the book Mit dem Medium Internet auf dem Weg zu mehr politischer Partizipation und Demokratie? by Timo Beck
Cover of the book 'Gewitterlandschaft mit Pyramus und Thisbe' von Nicolas Poussin. Eine Bildbeschreibung by Timo Beck
Cover of the book Ursachen, Darstellung und Perspektiven des Geschlechterkonfliktes im Spannungsfeld patriarchalischer und feministischer Strukturen by Timo Beck
Cover of the book Sonderpädagogische Ansprüche im Gemeinsamen Unterricht. Die Integration von Kindern mit geistiger Behinderung an allgemeinen Schulen by Timo Beck
Cover of the book Carl Schnaase 'Geschichte der bildenden Künste' by Timo Beck
Cover of the book Zu: Friedrich Schiller - 'Über die ästhetische Erziehung des Menschen' by Timo Beck
Cover of the book Praxis Kontrakturprophylaxe in Pflege und Therapie by Timo Beck
Cover of the book Total Quality Management - A Case Study of a Quality Award Winning Organization by Timo Beck
Cover of the book 1 Tag in Hamburg by Timo Beck
Cover of the book Ist die Tugend lehrbar? Die Frage nach der Tugendlehrbarkeit bei Platon by Timo Beck
Cover of the book Produkt- und Markenpiraterie: Schutz der Marke im internationalen und nationalen Recht by Timo Beck
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy