MGT 140 Lecture Notes - Lecture 1: Customer Relationship Management
Document Summary
The tools, methods, skills and activities utilized to: understand market dynamics, know the customer, create & capture value. To find needs and have products/services to meet those needs. The focus of a business is not profits, but customers. One generates profits by serving customers better than competitors do. You do not need to serve all customer needs at all costs. 4 strategic approaches: sales driven what is made or in stock is sold. Sell sell sell! : technology driven research & development throws products over wall , marketing driven constantly serving customers. Tell me what you need : customer driven customers will only buy if there is a benefit. Off the heroine : focused predominately on customer driven philosophy. Unarticulated and unserved customers are full of unexploited opportunities. Gdp = total value of all final goods and services produced. All business" goal is to get/increase their share of the t gdp. 5 c"s: customers, company, competitor, collaborators, context.
