...Problem Solution: TeraTech TeraTech is a Customer Relationship Management (CRM) solutions provider. For over five years they have been the principal company in this industry as well as operating successfully. TeraTech has several competitors however; they remain in control of the market. Though, with new competitors inflowing the market, TeraTech’s managers sense the need to remain aggressive and to remain up on the requests of their customers. TeraTech is launching a new product combining CRM solutions with methodical modeling. Describe the Situation Issue and Opportunity Identification “An important outgrowth of this focus on the customer is the recent attention placed on customer relationship management (CRM), the process of identifying prospective buyers, understanding them intimately, and developing favorable long-term perceptions of the organization and its offerings so that buyers will choose them in the marketplace” (Kerin, 2006). TeraTech should maintain reviewing the requirements of their customers and offer products that meet their customer’s needs. Although TeraTech’s customers are generally satisfied with the company’s products, this remains an area for enhancement. TeraTech will be able to maintain success in the industry if they center on customer requirements and create a product that meets the customer’s needs. “The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is...
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...TeraTech Benchmarking Luna Cortez University of Phoenix MBA/570: Sustainable Customer Relationships October 14, 2008 Generic Benchmarking Worksheet |Task A: Problem/Opportunity Statement- Sharena Barriga | |Response to Task A: TeraTech will increase company profits and maximize shareholder wealth by, utilizing strategies to optimize | |customer services and their business processes while engaging the support of vital stakeholders. | |Topic A: Entellium Ltd.- Sharena Barriga | |Response to Topic A: | |Entellium Ltd. is a Malaysian firm and new hosted CRM service provider. The firm formally announced their intentions to tap into | |the North American market for hosted sales, marketing and customer service applications. Entellium’s target includes small and | |midsized businesses and departments of larger organizations. Like TeraTech, the firm’s problem lies in the fact that the hosted CRM| |market is already crowded and is concerned with the ability to keep up with there competitors. Entellium is a small company in | |comparison with to their competitors with just 100 customer and 3,000 users mostly in the Asian Pacific Region (Callaghan, 2004)...
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...Plan which is |Marketing plan for TeraTech, Jack and the |Example from TeraTech |I have worked for large | |a road map for the marketing |management team need to construct a |Scenario in MBA/570 |companies and the marketing | |activities of an organization for|marketing plan for the CRM product line. |(Kerin, Hartley, Berkowitz |plan was the road map to our| |a specified future period of | |Rudelius, 2006,p. 53) |success. This plan included | |time. | | |training employees on the | | | | |products and making sure | | | | |they supported the plan. The| | | | |leadership had direction and| | | | |support which created | | | | |success. | |Selective comprehension involves |TeraTech needs to understand the |Example from TeraTech |I worked in the...
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...Running head: MARKETING & CUSTOMER RELATIONSHIP CONCEPT WORKSHEET Marketing & Customer Relationship Concept Worksheet University of Phoenix Dr. Ron Morritt MBA 570 May 24, 2008 |A: Concept |B: Application of Concept in Scenario |C: Citation of Concept in|D: Personal Experience in your| | | |Reading |Organization | |Key external trends such as |The customer research TeraTech |“The social forces of the |Every year Curves solicits | |Social Forces through the study |commissioned revealed distinct demographic|environment include the |feedback through focus groups, | |of Demographics |differences between customers who approve |demographic |surveys and face-to-face | | |of TeraTech’s services and those who do |characteristics of the |interviews in order to find out| | |not. By using the information it has |population and its values.|what population of women are | | |acquired, the company can focus corrective|Changes in these forces |interested in Curves but have | | |action, future product development, and |can have a dramatic impact|not yet joined. The corporate | | |marketing...
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