[First Name Last Name]
The evolution of information technology has transformed the entire facet of the business world through consistent advancements and innovation. Technology is persistently changing the business processes too. This paper focuses on evaluating how advancement in information technology impacts the field of marketing. It particularly focuses on elaborating the influence that software advancement has brought about in amplifying and enlarging the process of Customer Relationship Management development. The paper firstly offers a brief account of the field of Marketing. In succeeding two headings, it discusses the advancement in CRM softwares and their influence on Marketing decision marketing and customer relationship management, as well as, comprehensive elucidation of IT respectively. It further discusses the potential pros and cons of these advancements, modern trends and impact on business undertakings. Finally, it whip up support about the potential opportunities that IT provides in the respective field.
Marketing
I want to pursue my career in the field of Marketing. Marketing is widely referred as the mediums of communication flanked by consumer audience and business organizations. It is primarily the adaptation of commercial activities and practice of institutions by a business organization with an intention to persuade behavioral patterns of the consumers in short and long term (Reinartz et.al 2014). It deals with all the establishments, organizations, activities, and processes responsible for fabricating, communicating, exchanging and delivering market offerings that uphold certain value for business partners, clients, customers, as well as, the community at large. The contemporary field of marketing has been largely influenced by the advancement in technology. Modern softwares, systems, and advanced processes has amplified the efficacy of marketing functions for every organization irrespective of their business size and orientation (Peltonen, 2015). The field of marketing is steadily progressing alongside the infusion and adaptation of innovative and radical mechanism gifted by IT. Since IT has an incredible influence in the field of Marketing, one cannot afford to miss it, especially when the aim is to pursue a career in it. Therefore, considering this fact, I presently aim at understanding the collaboration between IT and Marketing (Ahmed et.al, 2015). Specifically, I’m keenly interested in comprehending the advancements in the area of CRM; as I believe that customer is the ultimate focus for any organization and an entire business moves around it to generate profit. This is why I think that this area needs intensive consideration. I want to specialize in CRM, so that I can simplify the business processes for the client firms improving their business operations, efficiency, and profitability by effectively managing the needs, demands, insights, behavior and patterns of their customers.
Front-Line Development of Customer Relationship Management Application Softwares
The technology angle that I’m interested in is Customer Relationship Management Applications & Softwares. Being a customer myself, I have encountered several instances that made me think about numerous improvements in CRM processes through technology that can bring about betterment and advancement in the field (Reinartz et.al 2014). The technological angle that fascinates me in this regard is the advancement in CRM management application and softwares; as they are exceedingly supporting an organization in formulating strategies, practices, and technologies to analyze and manage data, Similarly, the help facilitate interaction of internal and external customers throughout the consumer lifecycle, while continuously improving customer relationship. They are also fundamentally useful in maintaining, as well as, retaining customer base and driving unswerving growth in sales. CRM softwares primarily target three key areas i.e. Customer Touch Points, Data Acquisition Sources and CRM Applications (Lesser & Ban, 2016).
Comprehensive Account of Information Technology
Information technology deals with the application of telecommunications and communication equipment to transmit, retrieve, manipulate and store data, often within the context of innovativeness (Peltonen, 2015). IT is commonly referred to the distribution of technologies; however, several individual domains are associated with it including hardware, software, semiconductors, telecom equipment, healthcare, internet, telecom equipment, computer services, engineering, and e-commerce. Information technology primarily involves four main categories i.e. processing techniques, application of mathematical and statistical methods, decision making, and higher order thinking simulation through computer programming. Modern context of IT also involves studying, designing, enlargement, application, support, monitoring, implementation and management of all type of technology-based information systems. Responsibilities of such functions in the field includes software development, network administration, installation, planning and management of technological life cycle of a particular organization, through which the software and hardware are monitored, upgraded, maintained and also replaced. Business value of IT lies within the automation and mechanization of business methods, requirements of information for decision making, association and interaction between customer and business organization, and requirements of efficiency-enhancing tools of productivity (Hollensen, 2015).
Impact of IT on Customer Relationship Management
Development and advancements in CRM applications and softwares are progressively facilitating business organizations to comprehend customers’ needs, demand, buying patterns and purchasing behavior more effectively in order to transform those into delivering outputs (Tseng, 2016). Advance use of Customer Touch Points allows organization to track the buying patterns while maintaining maximum interaction with the customers. On the other hand, Data Acquisition Sources allow organizations to seek out the response, feedback and demand trends of the customers (Lesser & Ban, 2016). This information helps an organization to formulate future strategies, product development, as well as, respond to the market dynamic and managing market competitiveness. CRM applications and softwares are vital for business organizations in contemporary marketing and dynamic business arena in order to stay responsive and effective in the industry. CRM applications and softwares also allow organizations to stay connected with the customers and are also imperative in knowing your customers at the best. This not only increases the flow of information within the organization but also helps an organization to build a positive reputation among the customers. Although CRM brings in enormous benefits for organization; however, with such opportunities come several challenges and costs, which includes a huge amount of investment for installing such applications and softwares (Hollensen, 2015).
Significance & Scope of IT in CRM
CRM has increasingly become an imperative component of every business considering the fact that customer is the ultimate king of the market. Organizations are increasingly investing in acquiring and installing CRM softwares, which tend to enhance their interaction with customers in order to know their demands, trends and needs. All these factors help to adopt a proactive approach, managing competition and delivering the best. CRM applications offer the best solution to such business needs (Lesser & Ban, 2016). Adopting marketing as a major field offers various brighter prospects to make a career in. The field is now increasingly accompanied by technological supplementation. A pursuing study in this regard can bring in advancement in various areas such as one i.e. CRM discussed above. Therefore, I would recommend choosing Marketing or a sub-domain as a career major.
Works Cited
Ahmed, B. S., Maati, M. L. B., & Al Mohajir, B. (2015). Improve Intelligence of E-CRM Applications and Customer Behavior in Online Shopping. International Journal of Business Intelligence Research (IJBIR), 6(1), 1-10. Retrieved From http://www.igi-global.com/article/improve-intelligence-of-e-crm-applications-and-customer-behavior-in-online-shopping/132820 on February 13, 2016
Hollensen, S. (2015). Marketing management: A relationship approach. Pearson Education. Retrieved From https://findresearcher.sdu.dk:8443/ws/files/108612027/Marketing_Management_3e_Suggested_lecture_plan_2015.docx on February 13, 2016
Lesser, E., & Ban, L. (2016). How leading companies practice software development and delivery to achieve a competitive edge. Strategy & Leadership, 44(1), 41-47. Retrieved From http://www.emeraldinsight.com/doi/abs/10.1108/SL-11-2015-0083 on February 13, 2016
Peltonen, H. (2015). CRM system implementation supporting the management of customer relationships. Retrieved From http://www.doria.fi/bitstream/handle/10024/118578/Bachelor's%20Thesis%20Heidi%20Peltonen%20FINAL.pdf?sequence=2 on February 13, 2016
Reinartz, W., Krafft, M., & Hoyer, W. D. (2014). The customer relationship management process: Its measurement and impact on performance. Journal of marketing research, 41(3), 293-305. Retrieved From http://elibrary.kiu.ac.ug:8080/jspui/bitstream/1/1283/1/CRM%20-%20The%20Customer%20Relationship%20Management%20Process%20Its%20Measurement%20and%20Impact%20on%20Performance.pdf on February 13, 2016
Tseng, S. M. (2016). Knowledge management capability, customer relationship management, and service quality. Journal of Enterprise Information Management, 29(2). Retrieved From http://www.emeraldinsight.com/doi/abs/10.1108/JEIM-04-2014-0042
