Three Objectives Of Customer Relationship Management

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Technology has revolutionized how marketing is done today as opposed to a decade ago. While telephone calls, sales representatives go door to door, or direct mail is still being practiced today, one is more likely to be reached through social media, mobile or smartphones, and advertisement emails. Markets throughout the world are becoming increasingly competitive and with advancement in technology, plays pivotal role in giving companies an edge over other entrants in the industry. Time is of the essence—but, so is speed. It is highly recommendable for companies to be agile to consumer needs, trends, and opportunities before another competitor seize the moment. Technology allows marketers to reach consumers and universal customers and also,…show more content…
P&G has approximately five billion customers in over 180 countries. Marketing support tools assist decision makers to make better decisions that affects the lives of consumers, yields growth and increases revenue. However, having multiple support tools can be ineffective if it does not meet company’s goals: Customer Acquisition, Customer Retention, and Customer Profitability which are the three objectives of Customer Relationship Management (CRM) according Marshall & Johnston,…show more content…
The development of 1, Consumer Place, has given P&G a better understanding and developed an intimate relationship with the customers. For example, 1, Consumer Place stores all the marketing data that can be shared with other markets throughout the nation. Rather than testing five different markets, it allows one market to share the results to all. Not only is it cost effective and time saving but, being able to exchange solutions and best practices can help marketers to tailor the results expeditiously to meet the needs of local customers. Another example, in the past, P&G focused on mothers and Pampers. P&G kept mothers engaged throughout the diapering stages of the baby. Once the baby was out of the diapers, the relationship with the mother was over. Now, that is not the case, with the implementation of 1, Consumer Place. P&G continues the relationship with the mothers by addressing other important needs such as, health and beauty products and household goods. These type of products will pick up were Pampers have left off thus continuing the relationship with the mothers for years to come (TeraData,

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