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Digital Technology and Customer Relationship - Essay Example

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Businesses have always valued their customers, but today there is much greater appreciation of the importance of customers for the profitability of the enterprise. In new business model, E-commerce generated massive amounts of data about customers and prospects that could not be integrated with the data in compartmentalized information systems…
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Digital Technology and Customer Relationship
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"Digital Technology and Customer Relationship"

Download file to see previous pages C.Laudon and P.Laudon (2006) believed that well-designed CRM systems can improve sales and customer service. Thompson and Cats-Baril argued, "Customer relationship management systems typically offer software and online tools for sales, customer service and marketing." (Thompson, 2003, 121-130)
CRM systems provide sales prospect and contact information, product information, product configuration, and sales quote generation capabilities. In B&N Company, CRM software enables customer and prospect information to be shared easily among sales, marketing, and delivery department. It can increase sales department's efficiency in reducing the cost per sale as well as the cost of acquiring new customers and retaining old ones. (Harrington, 1991) CRM software also has capabilities for sales forecasting, territory management. Customer service modules in CRM systems offer tools and information to create call centres, help desk service, and customer support personnel more proficient. CRM systems have capabilities for assigning and managing customer service requests.
In the early 1990s, the idea of 500 TV channels had been embraced by the nation's leading media, computing, and telecommunications conglomerates. Now--after the mid-1990s--the nation's leading microprocessor manufacturer was ridiculing the old capacity and pioneering the way toward half a million marketing channels. Hollywood and Silicon Valley may have loved Grove's statements, but in Madison Avenue, they triggered fear and loathing.
Media planners, in particular, felt distraught. Deregulation, cable revolution, and alternative media options had already shattered the old and cozy status quo. As the "big three" networks lost control of the prime time audience, promotions were invading ad volumes and brand loyalty was rapidly becoming a remnant of history. (Negroponte, 1995) Interactive television threatened to re-fragment the already fragmented markets. And now Silicon Valley was dreaming of 500,000 channels That did not mean a simple channel multiplication any longer; instead, it meant far more--a revolution in the entire channel infrastructure and the ensuing demise of all conventional industry wisdom.

Digital Marketing Communications
Since the mid- 1980s, the global markets have been swept by the emergence of digital marketing communications. In the past, mass marketers conceived of, organized and implemented the marketing paradigm, which originated from the consumer markets. Toward the end of the 20th century, marketers were conceptualizing and launching a new marketing paradigm. It evolved in business-to-business markets. (Brockman, 1996) If Procter & Gamble heralded the era of mass marketing, Federal Express seemed to anticipate the new one of digital marketing communications. In the long term, these systems would also proliferate in the consumer markets. (Robert, 1997) The new environment puzzled even the hard-nosed veterans. Industry wisdom had become a competitive disadvantage. Old rules no longer worked.
As technology companies, they were familiar with software; as media ...Download file to see next pagesRead More
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