Marketing-It's Popcorn Time - Essay Example

26 March 2007 It’s Popcorn Time and Technology It is irrefutable that rapid technological advancements have provided numerous benefits to business organizations. The commercialization of internet together with the proliferation of dotcoms are just but few manifestations of how technology has driven the global business spectrum. It’s Popcorn Time (IPT), just like any other company which have harnessed the potential of utilizing technological advancement in their operations, can also benefit from the employment of the internet technology, customer relationship management (CRM), and databases in order to enhance its marketing performance and customer service.

The popularity and wide acceptance of the internet is manifested in the increasing internet literacy and rising usage worldwide. Thus, this large potential of the internet in reaching out target market can be utilized by IPT. Through the internet technology, marketing and distribution of products can be done online by setting up a website. IPT’s products can be advertised and orders can also be taken online. This can increase customer satisfaction because they can now shop for IPT’s products in the convenience and comfort of their own homes.

Through the internet, a company can also customize buyer experience through the use of value-adding features which can be manipulated by the customer. In the long run, IPT can use the internet technology to cater to a wider market since the scope of internet is global. The company can partner with a local distributor in a specific country where it wants to distribute its products while conducting order generation and processing in its website. Internet technology will also enable IPT to conduct business to business transactions with suppliers and distributors thereby strengthening its strategic alliances with them (Kotler 2005).

Customer relationship management generally covers the activities of business organizations in managing customer relationship including collecting, storing, and analyzing customer information (Customer Relationship Management 2007). One of the aspects of this tool is the use of databases which gathers information about the demographics, past orders, and transaction history with the customer. For IPT, a customer databases is a gold mine because it enables it to identify and understand its customers.

Through the various databases, IPT gain knowledge on the specific preferences of buyers with different profile. After analyzing the buying history of a customer, IPT can use the information in conducting more specific target marketing. CRM presents huge opportunity for IPT. Since rivalry in the industry where IPT operates is becoming more stringent giving higher leverage for the buyer, the company needs to ensure customer satisfaction by knowing the specific needs and preferences of each single customer.

CRM will prove to be a great help for this because it uncovers the profile of each customer. Customer satisfaction will ensure repeat transactions and higher preference for IPT’s products.References“Customer Relationship Management” 2007, Wikipedia: The Free Encyclopedia, Retrieved 25 March 2007, from http://en.wikipedia.org/wiki/Customer_Relationship_Management Kotler, P. 2005, Marketing Management. Upper Saddle River: New Jersey