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Customer preferences and customers’ attributes helps businesses to decide upon what products and services should be offered to the customer segment and how it should be marketed and priced so that it matches customers’ requirements and desires. This research paper would look into marketing concepts and theories, which helps businesses to build and maintain a customer portfolio. For this purpose, the researcher has gone through and understood various theories and research works to elaborate on the concept of customer portfolio management. Content of the Customer Portfolio The content of the customer portfolio enables managers to understand the business-to-business marketing strategies that can be utilized for assessing supplier-customer relationships. With this assessment, managers identify scarce resources of the organization and allocate them accordingly so that maximum profitability can be achieved (Sinha et al., 2002). The content of customer portfolios makes it easier for managers to optimally compose customer relationships in order to determine, whether the company amongst members of the target market because of its customer relationship tactics or the competitive position of the organization (Ravenscraft, 1983). This is the reason, that customer portfolio management is considered as an integral part of an organization’s marketing functions. ...
managing the line of products and brands, by aligning financial and budgetary resources with the resource allocation strategy and creating coordination between organizational teams to ensure implication of business, product and marketing strategy. The product portfolio management consists of taking care of a number of activities such as conducting market research to understand consumer dynamics, aligning key suppliers who will prove to be beneficial, determining marketing and distribution tactics and etc. On the other hand, customer portfolios makes it easier for managers to optimally compose customer relationships in order to determine, whether the company amongst members of the target market because of its customer relationship tactics or the competitive position of the organization. This is the reason, that customer portfolio management is considered as an integral part of an organization’s marketing functions (Sanchez, 2005). Strategic Accounting Management Strategic accounting management is different from managing financial accounts of a business. Instead, these strategies are related with developing marketing systems that ensures that long-term relationships are maintained with strategic customers of the organization. These strategic customers might include organization’s suppliers of raw material and other vendors. Strategic accounting management is beneficial in a sense, that it helps the business to improve the quality of raw material used by maintaining healthy relationships with the suppliers and also reduces the cost of acquiring new strategic partners in the given marketplace. On the other hand, strategic accounting management also enables the organization to determine the specific needs of strategic customers and tailoring the products according to
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Name: School: Course Title: CUSTOMERS PORTFOLIO AS MANAGEMENT REQUIREMENT Lecturer: Date of Submission: CUSTOMERS PORTFOLIO AS MANAGEMENT REQUIREMENT 1.0 Introduction The competitiveness of the global economic market calls for the need for corporations and companies to put in place readily evolving strategies.
Significance of Customer Portfolio Management in Modern Business Environment Introduction Today the business world is facing too many challenges when it comes to rapidly changing customer needs and new business practices. In the new business environment, organisations cannot run their business successfully unless they are well informed about the needs of their different customer groups.
An investor may hold a collection of investments to derive future payments that will compensate the investor for the time the funds are committed, the expected rate of inflation, and the uncertainty of the future payments. The "investor" can be an individual, a government, a pension fund, or a corporation.
That fund managers' characteristics simultaneously determine their portfolio return performance and risk as well as their own compensation is not surprising; yet, earlier studies have not accounted for this simultaneity. For example, it follows from human capital theory that managers with greater human capital (intelligence, etc.) should produce better performance and receive better compensation.
trial building for servicing equipment and vehicles, and an employee’s administrative office building for management of the operation of the service facility. A warehouse building is provisionally proposed as a later addition to the project, but is not initially included in
ment, risk management, quality assurance, scheduling, estimating, contracting and quality control etc .The enhanced knowledge through field experience will help in understanding and applying the key management principles in real life engineering applications. The objective of
The concept of customer portfolio can significantly contribute to the firm's efforts to retain the profitable segments of its customers because customer portfolio is a potential way to achieve enhanced customer satisfaction. According to experts, "in much the same way that we can examine a portfolio of products or brands.
Four interconnected levels of CRM are defined and they are individual relationships, networks, portfolios, nets.
Most of the reliable, customer management tool proposals are made at the customer portfolio level. With the introduction of the CRM,
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