Customer Relationship Management or CRM refers to an information industry term pertaining to methodologies, software and other internet capabilities that usually aid an enterprise manage their relationship with their customers in a systematic manner. It also identified as a management philosophy relating to the company achievement of goal through the identification and satisfaction of customers whether it be linked to their unstated or stated wants and needs. Piskar & Faganel (2009) shared that a number of organizations are now turning to CRM softwares to aid them in managing their relationship with customers. In a similar statement Forbes Magazine (2013) also added that CRM may ...
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Question 1
Management information system [MIS] is an integrated system that helps the management with relevant information to plan and make decisions in order to run the business more effectively and efficiently (Becerra-Fernandez and Leidner, 2014 p.42). The core aim is to make raw data into useful information that helps in managerial decision-making. That being said, the functions of MIS are data capturing, data storage, data processing, data and information distribution, prediction or forecasting, planning, and control (Leon, 2008 p.328). Data processing is the process of gathering data from various sources; this may include customer touchpoints like stores and e-commerce sites, ...
In Partial Fulfilment of the Requirements in
Executive Summary
Introduction
Globalization is one of the major factors that influence the way people and groups such as organizations go about their lives today. Essentially, globalization refers to the integration of people, organizations, cultures, and sectors around the world. Progress and development, particularly in technology, facilitate globalization in that it creates small communities that interact and brings about various outcomes. In the business sector, globalization has made possible the development of the multicultural or diverse workplace. As organizations transition into multinational companies and as they acknowledge the advantages and contributions of diversity to their business, businesses ...
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Introduction
Marketing is the process of collaborating the worth of values of commodities or service to clients; this at some time can be said to be the art of selling products and letting clients know of a good and new products in the market. In addition to this, marketing can be termed as the process of marking clients updated of available products in the market for sale; this is usually done in by advertising the company’s products. However, the society views marketing as to be the linkage between clients and the seller of a commodity; it’s of importance for a company ...
Analysis of an Advert
There are two principal categories of market segmentation: consumer based segmentation and consumption-specific segmentation. In consumer based segmentation, the consumers are grouped on the criteria of characteristics of the consumers. In consumption bases, the segmentation criterion is based on the consumer’s interaction with the product or potential interaction with the product. Within each category, segmentation may be further carried according to existing facts or according to abstraction, (Charles, 2008).
For consumer based segmentation, facts include elements such as age, age cohorts, gender, marital status, family life cycle, income occupation among others. For consumption-specific segmentation, facts include user ...
