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 process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services; potentially including selection of a target audience; selection of certain attributes or themes to emphasize in advertising; operation of advertising campaigns; attendance at trade shows and public events; design of products and packaging attractive to buyers; defining the terms of sale, such as price, discounts, warranty, and return policy; product placement in media or with people believed to influence the buying habits of others; agreements with retailers, wholesale distributors, or resellers; and attempts to create awareness of, loyalty to, and positive feelings about a brand. Marketing is typically done by the seller, typically a retailer or manufacturer. Sometimes tasks are contracted to a dedicated marketing firm or advertising agency. More rarely, a trade association or government agency advertises on behalf of an entire industry or locality, often a specific type of food, food from a specific area, or a city or region as a tourism destination.
Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. A period during which goods are sold for a reduced price may also be referred to as a "sale".
A management information system (MIS) is an information system used for decision-making, and for the coordination, control, analysis, and visualization of information in an organization. The study of the management information systems involves people, processes and technology in an organizational context.
Electronic business is any kind of business or commercial transaction that includes sharing information across the internet. Commerce constitutes the exchange of products and services between businesses, groups, and individuals and can be seen as one of the essential activities of any business.
Small businesses are types of corporations, partnerships, or sole proprietorships which have a small number of employees and/or less annual revenue than a regular-sized business or corporation. Businesses are defined as "small" in terms of being able to apply for government support and qualify for preferential tax policy. The qualifications vary depending on the country and industry. Small businesses range from fifteen employees under the Australian Fair Work Act 2009, fifty employees according to the definition used by the European Union, and fewer than five hundred employees to qualify for many U.S. Small Business Administration programs. While small businesses can also be classified according to other methods, such as annual revenues, shipments, sales, assets, annual gross, net revenue, net profits, the number of employees is one of the most widely used measures.
In industry, product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its inception through the engineering, design and manufacture, as well as the service and disposal of manufactured products. PLM integrates people, data, processes, and business systems and provides a product information backbone for companies and their extended enterprises.
An executive information system (EIS), also known as an executive support system (ESS), is a type of management support system that facilitates and supports senior executive information and decision-making needs. It provides easy access to internal and external information relevant to organizational goals. It is commonly considered a specialized form of decision support system (DSS).
Marketing Communications refers to the use of different marketing channels and tools in combination. Marketing communication channels focus on how businesses communicate a message to its desired market, or the market in general. It is also in charge of the internal communications of the organization. Marketing communication tools include advertising, personal selling, direct marketing, sponsorship, communication, public relations, social media, customer journey and promotion.
In marketing, lead generation is the initiation of consumer interest or enquiry into the products or services of a business. A lead is the contact information and, in some cases, demographic information of a customer who is interested in a specific product or service.The ultimate aim of lead generation is to convert potential customers into paying customers.
Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, e-commerce, analytics, and application development.
A service delivery platform (SDP) is a set of components that provides a service(s) delivery architecture for a type of service delivered to consumer, whether it be a customer or other system. Although it is commonly used in the context of telecommunications, it can apply to any system that provides a service. Although the TM Forum (TMF) is working on defining specifications in this area, there is no standard definition of SDP in industry and different players define its components, breadth, and depth in slightly different ways.
Digital marketing is the component of marketing that uses the Internet and online-based digital technologies such as desktop computers, mobile phones and other digital media and platforms to promote products and services. Its development during the 1990s and 2000s changed the way brands and businesses use technology for marketing. As digital platforms became increasingly incorporated into marketing plans and everyday life, and as people increasingly used digital devices instead of visiting physical shops, digital marketing campaigns have become prevalent, employing combinations of search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing, e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing, display advertising, e-books, and optical disks and games have become commonplace. Digital marketing extends to non-Internet channels that provide digital media, such as television, mobile phones, callbacks, and on-hold mobile ring tones. The extension to non-Internet channels differentiates digital marketing from online marketing.
Streaming data is data that is continuously generated by different sources. Such data should be processed incrementally using stream processing techniques without having access to all of the data. In addition, it should be considered that concept drift may happen in the data which means that the properties of the stream may change over time.
Customer experience, sometimes abbreviated to CX, is the totality of cognitive, affective, sensory, and behavioral consumer responses during all stages of the consumption process including pre-purchase, consumption, and post-purchase stages. Nihat Tavşan and Can Erdem bring an extensive elucidation to the customer experience, encompassing the dimensions of consciousness, subjectivity, and interactional nature and define customer experience as the sum of subjective ideas regarding a product or service that occur at a conscious or subconscious level due to direct or indirect interaction of a customer with brand-related stimuli. Pine and Gilmore described the experience economy as the next level after commodities, goods, and services with memorable events as the final business product. Four realms of experience include esthetic, escapist, entertainment, and educational components. Tavşan and Erdem divided the customer experience into four categories based on the levels of cognitive and physical involvement of customers. These four categories are euphoric experiences, captive experiences, mellowing experiences, and conductive experiences.
Lead scoring is a methodology used to rank prospects against a scale that represents the perceived value each lead represents to the organization. The resulting score is used to determine which leads a receiving function will engage, in order of priority.
The economic and monetary union (EMU) of the European Union is a group of policies aimed at converging the economies of member states of the European Union at three stages.
Act-On Software is a software-as-a-service product for marketing automation for small, midsize and enterprise businesses. Act-On is headquartered in Portland, Oregon and was founded in 2008, originally retailing its software exclusively through Cisco, which provided $2 million in funding.
Marketing automation refers to software platforms and technologies designed for marketing departments and organizations to more effectively market on multiple channels online and automate repetitive tasks.
Social selling is the process of developing relationships as part of the sales process. Today this often takes place via social networks such as LinkedIn, Twitter, Facebook, and Pinterest, but can take place either online or offline. Examples of social selling techniques include sharing relevant content, interacting directly with potential buyers and customers, personal branding, and social listening. Social Selling is gaining popularity in a variety of industries, though it is used primarily for B2B (business-to-business) selling or highly considered consumer purchases. C2C companies have been using social selling techniques since far before the Internet existed. B2B and B2C companies are now adopting many of those techniques as they are translated to social media platforms.
