Sustainable Customer Relationship University of Phoenix Veronica S. George MBA/570

Table for Assignment One A: Concept | B: Application of Concept in Scenario | C: Citation of Concept in Reading | D: Personal Experience in your Organization | Product development | TeraTech needs to develop a marketing plan to market their new product since marketing plans are critical to any marketing efforts. | “Product development is a marketing strategy of selling new products to existing markets” (Kerin, 2006). | Developing creative ways to increase business through internet marketing. | Outsourcing | An alternative for TeraTech. This does allow the company to immediately address their customer needs and may realize growth earlier. | “The five-step marketing research process gives companies a methodical approach to identifying issues and opportunities of new products” (Kerin, 2006). | Outsourcing does its primary job of reducing costs, but the jobs that are lost create an ethical dilemma. | Behavioral sciences | In order to develop a product that will meet their customers’ current and future needs, TeraTech must create methods to evaluate their customers’ purchasing process. | “Behavioral sciences help answer questions such as why people choose one product or brand over another, how they make these choices, and how companies use this knowledge to provide value to consumers” (Kerin, 2006). | Southwest Airlines is constantly finding ways to communicate with customers on how their flying experienced can be improved. This is done through letters and phone calls. All feedback, negative or positive, is taken into account. | Psychology | The next step after recognizing behavioral sciences. By identifying their customers’ needs, TeraTech can forecast their behavior and respond appropriately to continue interest in TeraTech