Marketing: An Introduction (12th Edition)
12th Edition
ISBN: 9780133451276
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 1.19MML
Summary Introduction
To write: A comprehensive assignment for the chapter.
Introduction:
Customer relationship management refers to a process of constructing and maintaining profitable customer relationships by providing higher customer value and satisfaction.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
• provide 10 unique niche market and identify its target audience, competition, and product offerings related to the ideas.
How can I solve this financial accounting problem using the appropriate financial process?
Base Ethical dilemma teaser.
ABC Plastics Co. contracts with NASA to manufacture component parts used in communications satellites. NASA reimburses ABC on the basis of the actual manufacturing costs it incurs, plus a fixed percentage. Prior to being awarded a contract, ABC must submit a bit that details the estimated costs associated with each project. An examination of ABC's job cost sheets reveals that actual costs consistently exceed cost estimates quoted during the bidding process. As a consequence, NASA ends up paying considerably more than the bids ABC submits.
An ABC representative was recently quoted as saying, "We really aren't overcharging NASA for the work that we do. The actual costs shown on our job cost sheets seem high only because we are forced to understate our bid estimates in order to be awarded contracts. It's a common practice, and everybody does it. The truth of the matter is companies that quote realistic bid prices are not awarded contracts."
Let us assume that…
Chapter 1 Solutions
Marketing: An Introduction (12th Edition)
Knowledge Booster
Similar questions
- You should access one of the short videos of the LinkedIn course "International Business Foundations" by Kyle Hegarty. The discussion is about the content of the segment "Research market conditions for increased chances of success" that can be found in part 2 of the course under: "Improve Your Chances of Winning Overseas." Once you have watched the segment, please answer the following question: What do you think will be the most critical challenge for the expansion of the company you selected into the international market targeted?arrow_forwardMarketing to the Bottom of the Pyramid (BOP) Review the Marketing to the Bottom of the Pyramid case study. This case can be found in the “Case” section of your required textbook. As a junior member of your company’s committee to explore new markets, you have received a memo from the chairperson telling you to be prepared at the next meeting to discuss key questions that need to be addressed if the company decides to look further into marketing to the BOP segment. Compile a PowerPoint presentation that you will deliver at the next meeting to underpin a set of general guidelines to use in developing a strategy for any one of the company’s products to be marketed to the “aspirational poor.” These guidelines do not need to be company or product specific, and can almost resemble a checklist of questions that the company could use as a starting point in evaluating the potential of a specific BOP marketing segment for one of its products. Be sure to incorporate concepts from the case study,…arrow_forwardA PEST analysis can be an effective framework to use in Corporate Strategy. PEST is an acronym for Political, Economic, Social, and Technological. In very basic terms, a PEST analysis can help you determine how these factors will affect the performance and activities of your business in the long term. It can be used either to analyze the current company situation in a given market or to explore the situation at a new market the organization is considering expanding to. Please watch the following video discussing a PEST analysis in detail: Once you are done watching the video select any product you regularly use in your daily life and provide a description of the following: Selected product Features Intended target market Select either one of the areas Political, Economic, Social, Technological and conduct and analysis considering the United States as its reference market Select the most important factors that can impact the sales of the product Explain the reasoning behind your…arrow_forward
- You will be conducting a strategic analysis of the country and product you selected in module one. You will explore the optimal way for an AI-powered smart standing desk into the foreign country of Vietnam and develop a marketing plan to support its entry into this new market. Executive Summary The Executive Summary, which is always written last, is a high-level overview and provides major highlights of your project, you will add this to your submission in module 7 and it will appear first in your paper after your cover page. This week's submission should include the following: Company and Product Description Provide a detailed description of the company Provide a detailed description of the product Outline and explain the advantages of your product Describe a list of product benefits and features Discuss any additional product line opportunities you may consider for your target market Objectives and goals Identify the aims and goals of your plan in this section of the…arrow_forwardGood reponse to this statement? Cultural Factors to Consider for Tesla's Entry into Ecuador: In entering Ecuador with Tesla, it is important to consider the local cultural environment. Three key areas of culture to be considered are social institutions, living standards, and language.1. Social Institutions (Business Etiquette and Communication Styles)Ecuadorian business culture is formal and hierarchical. Professionals are addressed with titles of Doctor or Ingeniero, and business attire is conservative. Establishing trust founded on personal relationships and polite conversation is also paramount in establishing successful partnerships (Privacy Shield, n.d.).2. Living Conditions (Urban Infrastructure and Transportation)The cities such as Quito and Guayaquil are densely populated and prone to heavy traffic. Ecuador is actively adopting sustainable transport. For instance, there have been introduced new electric public transportation systems with high capacity and also friendly to…arrow_forwardA sample concepts personifying the target market of young adults or teenagers, defined in terms of demographic, psychographic and geographic characteristics.arrow_forward
- From a cultural perspective, based on research that you have conducted. Select three of the listed topics you consider relevant to explore in your discussion that will help a company better understand what it is like to live as a citizen in the country you have chosen: geography, social institutions (e.g., family, education, politics, legal system, and social welfare), religion, living conditions, and language.arrow_forward'Memories in a box' is a business involved in gift baskets for all occassions and event planning located in Trinidad and tobago a) Provide a brief background of the company. include the business concept and give justification for the profitability of this venture in the current market or economy. b) Emphasize the unique selling points of the business. C) Identify the products and services that the company intends to offer, to include the target market. d) State the strategic vision and mission for the business.arrow_forwardWhat are the 10 things/places/foods/culture or anything that could showcase the attractiveness of the Philippines to foreign investors? To encourage them to invest?arrow_forward
- Examine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization elaborate on Outsourcing and Workforce Optimization• Outsourcing customer support to third-party providers in cost-effective locations can reduce expenses while maintaining service availability. • Workforce Optimization uses data analytics to schedule staff efficiently, ensuring the right number of agents are available based on demand patterns, minimizing idle time and overtime costs. • Hybrid Models combine in-house teams for high-value interactions and outsourced teams for routine inquiries, balancing quality and cost.arrow_forwardExamine the conflicts between improving customer service levels and controlling costs in sales. Strategies to Balance Both customer service levels and controlling costs in sales 1.Outsourcing and workforce optimization 2. AI-driven customer supportarrow_forwardThe various objectives of promotion. What ways does promotion benefit marketers?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles Of MarketingMarketingISBN:9780134492513Author:Kotler, Philip, Armstrong, Gary (gary M.)Publisher:Pearson Higher Education,
MarketingMarketingISBN:9781259924040Author:Roger A. Kerin, Steven W. HartleyPublisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
Marketing: An Introduction (13th Edition)MarketingISBN:9780134149530Author:Gary Armstrong, Philip KotlerPublisher:PEARSON
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Principles Of Marketing
Marketing
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Pearson Higher Education,
Marketing
Marketing
ISBN:9781259924040
Author:Roger A. Kerin, Steven W. Hartley
Publisher:McGraw-Hill Education
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing
ISBN:9780134149530
Author:Gary Armstrong, Philip Kotler
Publisher:PEARSON
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning