Customer relationship management (CRM) is a process in which a business or other organization administers its interactions with customers,typically using data analysis to study large amounts of information.
Marketing is the act of satisfying and retaining customers. It is one of the primary components of business management and commerce.
In the field of management,strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders,based on consideration of resources and an assessment of the internal and external environments in which the organization operates. Strategic management provides overall direction to an enterprise and involves specifying the organization's objectives,developing policies and plans to achieve those objectives,and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature;the models can include a feedback loop to monitor execution and to inform the next round of planning.
Marketing management is the strategic organizational discipline which focuses on the practical application of marketing orientation,techniques and methods inside enterprises and organizations and on the management of a firm's marketing resources and activities.
Marketing strategy is an organization's promotional efforts to allocate its resources across a wide range of platforms and channels to increase its sales and achieve sustainable competitive advantage within its corresponding market.
Data management comprises all disciplines related to handling data as a valuable resource,it is the practice of managing an organization's data so it can be analyzed for decision making.
In marketing,segmenting,targeting and positioning (STP) is a framework that implements market segmentation. Market segmentation is a process,in which groups of buyers within a market are divided and profiled according to a range of variables,which determine the market characteristics and tendencies. The S-T-P framework implements market segmentation in three steps:
Gary L. Lilien is Distinguished Professor of Management Science at the Smeal College of Business at Pennsylvania State University and is also the co-founder and research director of Institute for the Study of Business Markets ISBM,the world's leading institution focusing on fostering research in B2B markets.
Marketing effectiveness is the measure of how effective a given marketer's go to market strategy is toward meeting the goal of maximizing their spending to achieve positive results in both the short- and long-term. It is also related to marketing ROI and return on marketing investment (ROMI). In today's competitive business environment,effective marketing strategies play a pivotal role in promoting products or services to target audiences. The advent of digital platforms has further intensified competition among businesses,making it imperative for companies to employ innovative and impactful marketing techniques. This essay examines how various types of advertising methods can be utilized effectively to reach out to potential consumers
Revenue management is a discipline to maximize profit by optimizing rate (ADR) and occupancy (Occ). In its day to day application the maximization of RevPAR is paramount.
Rajendra K. Srivastava is Novartis Professor of Marketing Strategy and Innovation at the Indian School of Business. He has been a tenured professor and an academic administrator and has worked in the United States,Singapore,and India. He has been listed in the Forbes's Tycoons of Tomorrow 2018. He is also a member of the board of directors of Happiest Minds,a publicly listed company in India.
Customer retention refers to the ability of a company or product to retain its customers over some specified period. High customer retention means customers of the product or business tend to return to,continue to buy or in some other way not defect to another product or business,or to non-use entirely. Selling organizations generally attempt to reduce customer defections. Customer retention starts with the first contact an organization has with a customer and continues throughout the entire lifetime of a relationship and successful retention efforts take this entire lifecycle into account. A company's ability to attract and retain new customers is related not only to its product or services,but also to the way it services its existing customers,the value the customers actually perceive as a result of utilizing the solutions,and the reputation it creates within and across the marketplace.
Jean-Claude "JC" Larreche is Emeritus Professor at INSEAD,Fontainebleau,France,where he held the Alfred H. Heineken Chair of Marketing from 1993 to 2018. His academic and business activities are focused on building the fundamental capabilities required to create corporate value,especially through marketing excellence,customer focus,and value-capture selling.
Enterprise engagement is a sub-discipline of marketing and management that focuses on achieving long-term financial results by strategically fostering the proactive involvement and alignment of customers,distribution partners,salespeople,and all human capital outside and inside of an organization. Enterprise engagement is distinct from the traditional sub-disciplines of financial management,marketing,sales,operations,and human resources in that it seeks to achieve long-term success by integrating these various traditional business disciplines to consistently focus the organization on identifying and meeting target audience needs. Enterprise Engagement is related to brand engagement,a term developed in Great Britain in the 2000s to describe an integrated external and internal marketing approach to achieving long-term success for a brand. Enterprise Engagement applies similar principals to the achievement of an organization's overall financial objectives.
The Journal of Marketing is a bimonthly scholarly journal that publishes peer-reviewed research in marketing. It is published by the American Marketing Association. Established in 1936,It is the fourth-oldest major journal covering marketing issues;others include the Harvard Business Review (1920),the Journal of Retailing (1925),and the Journal of Business (1928).
Traditionally,market orientation (MO) focuses on microenvironment and the functional management of an organisation. However,contemporary organisations have widened their focus to incorporate more roles,functions and emphasis on the macro environment. Firms have been concerned with short run success and often not taken into account the long-run ecological,social and economic effects from their activities. Despite growth in the MO concept,there is still a need to reconceptualise the concept with a greater emphasis on external factors that influence a firm.
Valarie A. Zeithaml is a marketing professor and author. She is the David S. Van Pelt Family Distinguished Professor of Marketing at Kenan-Flagler Business School,University of North Carolina at Chapel Hill. Zeithaml is an expert in the area of services marketing and service quality.
Patrick Barwise is emeritus professor of management and marketing at London Business School. He joined the business school in 1976 after an early career at IBM and has published widely on marketing and media.
In commerce,global supply-chain management is defined as the distribution of goods and services throughout a trans-national companies' global network to maximize profit and minimize waste. Essentially,global supply chain-management is the same as supply-chain management,but it focuses on companies and organizations that are trans-national.
Werner Josef Reinartz is a German economist. Since 2007 he is a Professor of Retailing and Customer Management at the University of Cologne and the Director of the Center for Research in Retailing (IFH).
