Term Paper: Management Information Systems

Pages: 7 (2416 words)  ·  Bibliography Sources: 1+  ·  Level: College Senior  ·  Topic: Business  ·  Buy This Paper

SAMPLE EXCERPT:

[. . .] For the Survey design, the use of communications technology will be measured by asking respondents to indicate the degree to which various technologies were or will be applied in their organizations. The scale will range from 0 (no plans to apply) to 6 (100% applied). Respondents will be asked to rate several technological items. Such as fax, phone, e-mail, voice mail, video, audio, instant messaging or chatting.

To measure the nature of customer relationships, respondents will be presented with several attributes. Attribute pairs (such as doubt and trust) will be measured on seven-point scales attached by -3 and +3, with zero. Then statistical tests will be applied to get the results, and interpret them.

Data Gathering Method

Comments on the Validity of the Data

The data will logically derived and fully supported by foregoing evidence. In addition to that, the data used will be extremely well organized. There will be evidence of initiative and originality in the method and the approach utilized in the thesis. Furthermore, the thesis will also show its limitations and an awareness of the future avenues for the concerned departments to work on.

Comments on the Originality and Limitations of Data

The data will be checked for significance and originality within the situation and setting in which the data will be gathered. Furthermore the thesis will mention the state of affairs, which restrain and limit the data used. In addition to that, the data collected will summarized so as to help assess a better judgment.

Conceptual Outline

The thesis proposes that every organization needs to expand loyal customers: customers that buy constantly over time, normally at standard prices, usually disregarding the pleas and platitudes of opponents. Everyone knows customer devotion is good. And, marketers, given the current growth in data capture and management, believe they have reasonably good traditions of increasing and assessing customer loyalty (Keefe, 2001). Customer fulfillment is one. A fulfilled customer, at any rate in keeping with research, tends to remain more faithful to the product or the creation than an unfulfilled customer. Behavior is another. In the short-term, marketers can assess various kinds of customer behavior. Customer constancy (i.e., the number of times a customer purchases in a certain time period) and durability (i.e., the time phase over which a customer purchases the meticulous creation or product) are two examples. Both have acknowledged extensive consideration (Forrest, E. And R. Mizerski, 2001).

However, an obvious problem subsists. Fulfilled customers, at any rate those who assert fulfillment in a range of research circumstances, often float away from the corporation or the product. The same holds true for customers who have shown product or corporation faithfulness through their procurement in due course. From time to time they plainly stop buying. No obvious transformation in existence, economic level, individual circumstances, or other reasons seems to clarify the change in buying behavior. Faithful today, vanish tomorrow (Forrest, E. And R. Mizerski, 2001).

Not all businesses can sell online, but all businesses have got to bond with its most profitable customers. As a result, an on-going dialog amid marketers and their customers is compulsory. In actual fact, a constant dialog can facilitate small businesses to successfully contend against larger ones. Methods which can promote on-going dialog amid marketers and their customers comprise CRM software which puts together data as of call centers and suggestions lines and acquire customer profiles, loyalty programs, quarterly newsletters personalized messages, personalized web pages, special offerings and the shape of customer advisory councils. Additional methods might comprise E-mail or Web-based customer surveys Internet-based conferences, chat-based online focus groups and online customer panels (Lord, 2000).

Based on the above information, I could formulate the following theory about CRM and e-commerce: "In order to be truly effective, CRM in an e-commerce setting must have a stronger basis through human resources and organizational structure." In other words, the effectiveness of CRM is directly related to the ability of an organization and its staff to support the concept.

Potential outcomes

Based on the literature and the fact that CRM is still a new concept, I'd predict that potential outcomes would follow the norm - namely, CRM, when implemented successfully with other applications is effective. I'd also likely find that many companies simply don't have the knowledge to implement this properly, and as a result, have not had much success with this from an e-commerce perspective.

References

Anonymous (2001, October). Consumer goods companies can boost revenues via e-CRM. Direct Marketing 64(6), 26.

Butler, S. (March/April, 2000). Changing the Game: CRM and the e-World. Journal of Business Strategy, 21, 13-14.

Davids, M. (November/December, 1999). How to Avoid the 10 Biggest Mistakes in CRM. The Journal of Business Strategy, 20, 22-26.

Forrest, E. And R. Mizerski, Eds. (1996). Interactive Marketing: The Future Present, Lincolnwood Illinois: NTC Business Books, 1996.

Hein, K. And M. Beirne. (2001). A Singular Sensation. Brandweek, 42, 32-38.

Keefe, L.M. (May, 2001). How Much CRM is Enough is Relative. Marketing News, 7, 4.

Khirallah, K. (2000). Customer Relationship Management: How to Measure Success. Bank Accounting and Finance, 13, 22-30.

Krol, Carol (2002, December). Study finds high CRM success rate. B-to-B 87(13), 19.

Lord, C. (2000). The Practicalities of Developing a Successful E-Business Strategy. Journal of Business Strategy, 40-43.

Olson, E. (2001). CRM: Go Deep. Sales and Marketing Management. 153, 23.

Sowalskie. (2001). The Five CRM Essentials for Insurance. National Underwriter, 105, 24-25.

Srivastiva, R.K., T. A Shervani and L. Fahey. (October, 1999). Marketing Business Processes and Shareholder Value: An Organizationally Embedded View of… [END OF PREVIEW]

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