Marketing Audit Article Example | Topics and Well Written Essays - 500 words

Marketing Audit - Article Example Demographics can provide such opportunities as new customers, increased sales, and increased variety of customers, which all point to the increase of sales and productivity. Threats can also occur such as customers moving away, and customers developing other tastes, because of interaction (Cayla & Arnould, 2008). The economy has increasingly become weak, and, as a result, margins keep on falling and so does asset values. Because of these economic difficulties, the company has faced number financial challenges though it remains profitable. To deal with these financial problems, the company is planning to close about 20 of its stores that are underperforming so as o cut costs and save money (Fortune 500 List of Best Companies, 2009). It is clear that with the current financial problems and challenges with the environment, the availability of the company’s raw materials is going to go down with costs increasing. The costs of energy are also likely to increase because of the same challenges. There have been few, if any, complains about the role of the company in conservation and pollution. In fact, the company has been widely recognized for its initiatives in taking care of the environment and in sustainability. The company has come up with a number of goals to fulfill by the end of 2012 to ensure conservation and sustainability. In addition to this, the company also utilizes a carbon footprint, sustainable foods, reusable bags, zero waste, and conservation initiatives to ensure that the company does little damage to the environment (Fortune 500 List of Best Companies, 2009). There have been major technological innovations in today’s global market, and in the grocery industry. For example, there are new technologies for packaging, for eliminating waste, for ensuring green initiatives, and for production and manufacturing. The company

Information System Selection, acquisition and implementation in banks Thesis

Information System Selection, acquisition and implementation in banks - Thesis Example Today every bank is moving towards developing and maintaining customer relationship (Buttle, 1996). Managers have to look for areas where opportunities lie in retaining the customers. CRM is an option which banks can make use of so that they can rise beyond minimum advantages by creating real relationships with their customers. According to Gronroos (1994) relationships and foundation to the efficient growth and remodelling of new business philosophy, even though businesses have been taking care of relationships with their customers for many centuries. An introduction to CRM: Customers in the past normally opted for those banks which had all the conveniences with regard to its location. But with the development of technology and banks providing facilities like net banking and ATMs customers no longer consider the location of the banks as a primary factor. This put pressure on banks with reference to competition and dynamic marketing facility which in turn contributed to the developme nt of CRM in the financial sectors and specifically in banks.When customers to the extend of at least 5% are retained it provides for an increase in profitability to the tune of 35% in banking business, 50% in insurance and brokerage, and 125% in the consumer credit card market. This is the reason that banks are now focussing on ways and means to retain their customers thereby increasing market share. Private Banks has conventionally considered themselves as exceptionally 'Customer Centric' extending.... According to Gronroos (1994) relationships and foundation to the efficient growth and remodelling of new business philosophy, even though businesses have been taking care of relationships with their customers for many centuries. An introduction to CRM: Customers in the past normally opted for those banks which had all the conveniences with regard to its location. But with the development of technology and banks providing facilities like net banking and ATMs customers no longer consider the location of the banks as a primary factor. This put pressure on banks with reference to competition and dynamic marketing facility which in turn contributed to the development of CRM in the financial sectors and specifically in banks. When customers to the extend of at least 5% are retained it provides for an increase in profitability to the tune of 35% in banking business, 50% in insurance and brokerage, and 125% in the consumer credit card market. This is the reason that banks are now focussing on ways and means to retain their customers thereby increasing market share. Private Banks has conventionally considered themselves as exceptionally 'Customer Centric' extending highly personalized services to the High Net Worth Customers. The more affluent the customers are, the more challenging they are - and the clients in turn anticipate more and more from their banks. These wealthy customers expect their banks to understand what their wants and needs are. This helps in building the organization in particular the banks around serving those needs. The prearranged approach to CRM furnishes several gains to the bank, like having a distinctive and consistent customer experience, clear recognition of the organisational, technological and