project

http://www.authorstream.com/Presentation/mily427666-2861377-project-milagros-chung/

what is customer relationship management (CRM)?

                            

CRM stands for Customer Relationship Management. It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. Good customer relationships are at the heart of business success. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a strategic process that will help you better understand your customers’ needs and how you can meet those needs and enhance your bottom line at the same time. This strategy depends on bringing together lots of pieces of information about customers and market trends so you can sell and market your products and services more effectively.

What is the goal of CRM?

The idea of CRM is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. With an effective CRM strategy, a business can increase revenues by:

• providing services and products that are exactly what your customers want
• offering better customer service
• cross selling products more effectively
• helping sales staff close deals faster
• retaining existing customers and discovering new ones

what is marketing?

Marketing is about meeting the needs and wants of customers; Marketing is a business-wide function – it is not something that operates alone from other business activities; Marketing is about understanding customers and finding ways to provide products or services which customers demand

"Marketing mix" is a general phrase used to describe the different kinds of choices organizations have to make in the whole process of bringing a product or service to market. The 4Ps is one way – probably the best-known way – of defining the marketing mix, and was first expressed in 1960 by E J McCarthy.

The 4Ps are:

Product (or Service).

Place.

Price.

Promotion.