Customer Relationship Management Essay Example | Topics and Well Written Essays - 3000 words

Customer Relationship Management - Essay Example One of the key change agents that has in recent times been seen to have grown in critical importance for companies involves technology. Technology has played a major role in redefining nearly all aspects of business in the modern world (Bidgoli, 2010). It has been key in the facilitation of the gradual shift of power into the hands of the general consumer after moving it from the organization. The greatly empowered customers of the modern world are acutely aware of the immense power that they now wield. By utilizing the internet, customers are now able share information that helps bring them close to not only other customers but also to the organization. The shared feedback, information and various opinions are now generally available to one and all at a rate that can be viewed to be almost instantaneous. It is mainly due to this reason that it organizations cannot be able to ignore social media as a medium of communication (Flynn, 2012). Marketing managers have resulted to learn how to properly utilize this medium so as to be able to effectively manage the relationship that their companies and organizations happen to enjoy with their various customers, this is especially so in light of the fact that social media has proven to be both the bane as well as the boom to most organizations. Marketers are now using social networking to provide prompt customer redress. There is a lot of pressure being exerted on companies forcing them to constantly ensure that they are always on their guard due to the fact that customer reactions on the internet tend to generally happen on an instantaneous live basis. In the event that there happens to be any adverse feedback or shared opinion by a single individual dissatisfied customer, the opinion can quickly spread all over the internet and spearhead a campaign that can have the results of critically harming an organization or company. When used effectively, the internet can serve to help an organization to effectively build up it s customer relationship as well as sufficiently strengthen the existing relationship (Kurtz and Boone, 2010). It can greatly serve to help companies in their attempts to reach out to single individual customer a situation which would otherwise have been deemed as being impossible. The Marketing Organizations have not only taken to communicating with their customers on an individual basis, but with the aid of various data mining techniques as well as the effective use of various technologies, they now better understand all their customer’s needs. This has been seen to greatly help customers in the development of customized solutions that have been specifically tailored to try and effectively address the various needs of a specific given individual customer. Companies and organizations such as Airlines, Insurance companies, Banks and various service industry players such as MacDonald’s and Pizza hut have been able to achieve these developments and have built emotional co nnections with their customers by implementing the use of technology and various CRM packages. The various dynamics that are involved in marketing have in

Analysis case with economics theory Essay Example | Topics and Well Written Essays - 500 words

Analysis case with economics theory - Essay Example m a one-on-one interaction both between the students and with their tutors and employment opportunities that arise from physical learning institutions. Starting off with the costs, basic classroom learning doesn’t require any special equipment besides the usual paper and pen for the majority of the courses. Most campuses offer accommodation cheaply for their students besides subsidized meals. These ensure the costs are kept down so that more and more people can have the privilege of accessing university education. Compared to online learning, lots of costs are incurred with reference to high-speed internet costs, powerful computers and having to rent a house at high costs if one isn’t lucky enough to study from home. The advantage of having many students enables economies of scale and thus most costs can be cut for affordability’s sake. It is an advantage in the sense that students stay on the campus and focus on studying and developing other skills being aware that their other needs are taken care of. My second point for classroom learning is a lack of interaction among the students themselves and between the students and their teachers (Filimban 66). This leads to the students not developing their mental capabilities beyond what they know due to less challenges and the tendency to have ‘closed minds.’ Compared to classroom learning where students get to share ideas freely thus enhancing thinking capacities and developing better personalities through socializing with others, online learning only aims to impart knowledge and little else. It should thus be left to specialized graduates who have already developed their characters accordingly and need the special knowledge to further their professions. Online learning removes the natural and traditional hands-on experience where one learns through practical settings that ensure the lessons are absorbed and kept well. The fact that classroom learning brings the students into direct contact with their