Customer Relationship Management Essay

Question:

Discuss about the Customer Relationship Management.

Answer:

Introduction

Marketing analytics of IBM refers to the measurement of performance of marketing for maximizing the effectiveness and optimization of Return on Investment of the company. Customer Relationship Management (CRM) refers to an analytical term which contains the strategies, practices, and technologies which the company uses for managing and analyzing the interaction of the customer as well as customer lifecycle data. CRM has an aims to build up a healthy relationship with the client for taking consideration into the growth of sales. IBM (International Business Machine Corporation) is one of the international companies, and its biggest brand is situated in Australia. The company maintains its CRM system well in the foreign market segmentation as well as in Australia. The CRM system of IBM contains different approaches of relationship with customers through various medium of communication and channels which may include the website of the company, live chat, telephone, Email, the material of marketing and through social media. The best way to CRM system of IBM is to solve the customer's query through face to face communication (Parasnis 2012).

The company came to the effect around 50 years ago in the industry. IBM provides information to customers through such analytics also makes some advertising related to the same approach of business to run the company widely into the international market. The success of IBM depends on the successful approval of the marketing analytics in the business of Australia. Now the company is making more profit and revenue in its day-to-day business world. Marketing analytics of IBM helps to refine the development of the product in the market at the time of competitions. To impact the relationship between customers and business the analytics of marketing is very much needed in the company (Graf 2013).

Strategic Value of CRM system in IBM

The strategy of CRM refers to the method of collection of information and analyzes the potential design for the support of marketing decision and sales. It also helps in understanding and supporting the existing and prospective needs of the customers. The strategic value of CRM in IBM plays a vital role in the international business approach which may lead to success in Australia. This strategy may signify the mission, objective, and growth of the organization. It raises the development of business work project at the group. With the help of strategic value of CRM, the IBM can make the better decision making and also assist in the management of the company's products and customers in Australia. The company manages the relationship between business and customers with the help of strategic value of CRM within the industry (Graf et al. S 2013).

Analysis

As IBM is one of the biggest international companies in all over the world, it has served various operating systems and software like computer software and computer hardware. It also served the IT services and IT consulting within the country. Though the Head Quarter of the company is situated in U.S, the company is running well in Australia as well. Now the company is spreading over the global market segmentation. As per review of the company Ginni Rometty is the present CEO of IBM. The company has its current revenue more than $104.5 billion and has a profit of $16.6 billion in the current market. Now the company has more than 434,246 employees into the global company of IBM. Some of the big companies are the main competitors of IBM like Apple, Dell, Microsoft and much more (Tess 2013).

As IBM is the brand reputed company in all over the world, it makes diversification of business strategy within the country. The company gives more focus on other companies which is bigger in nature because it is an expendable software and service solution company in Australia. It is one of the positive points of the company to integrate the product and service into the global market segmentation. The company may increase the service and also division of software if the demand for that service is more in the market. In the year 2012, the company had a branded value near about $75.5 billion, and it was the 3rd more valuable brand in the world. In today's era, as the company has more branded value, more people involved in the business to a great quantity. In the year 2000, the company had only 35% earnings from its hardware sales, for this the profit margin was reduced at that time. Then the company decided to produce more segments. Then the diversification of IBM segments is divided into four parts that are hardware, software, service and financing/consulting (Mohr and Sengupta 2014).

Literature Review of Marketing Analytics

Marketing analytics of IBM refers to the measurement of performance of marketing for maximizing the effectiveness and optimization of Return on Investment of the company. The company allows the competitors to be more efficient in their work to understand the analytics of marketing and also has to reduce the wastage of natural resources to work in the proper analytics of marketing. It is a related aspect of international business of IBM because the company follows the strategy of marketing analytics. The company is trying to design its product and giving new features to the existing products with the help of marketing analytics in Australia as well as outside country. IBM provides information to customers through such analytics also makes some advertising related to the same approach of business to run the company widely into the international market (Germann Lilien and Rangaswamy 2013).

Benefits and Importance of Marketing Analytics of IBM

Marketing analytics plays a vital role in the success of IBM in Australia. There are several benefits of marketing analytics in IBM which are as follows;

  • To impact the relationship between customers and business the analytics of marketing is very much needed in the company (Wu and Lu 2012).
  • Proper utilization of natural resources must maintain in the company with the help of marketing analytics.
  • The success of IBM depends on the successful approval of the marketing analytics in the business of Australia (Wedel and Kannan 2016).
  • Marketing analytics of IBM helps to refine the development of the product in the market between competitions.
  • IBM optimizes the Supply Chain with the aid of marketing analytics of the company in Australia (Rangaswamy 2013).

Challenges for Marketing Analytics in IBM

There are many challenges faced by marketing analytics to grow up the company into the international business world. If the challenges are not maintained properly, the company may suffer from the loss. These challenges are as follows;

  • It is one of the fundamental challenges of marketing analytics of IBM is to provide proper satisfaction to the employee and acts as an improvement in marketing data performance (Moreira and Victor 2015).
  • With the help of marketing analytics, the company must combine data from various ways for drawing Association and for making the prediction in the company.
  • The marketing analytics of the company helps to make fund in the new analytical tools and give a proper solution as per needs of the company.
  • The analytics faces the challenges of measurement to attributes the market segmentation of IBM within the whole channels across the country.
  • The company integrates the system of information disparately with the help of marketing analytics of the company.
  • Marketing analytics help the company to improve the quality of data and solving the related issue in the company (Reinartz 2012).
  • It faces the challenge of data processing in a more rapid manner and also reduces the latency in the company in Australia.
  • Marketing analytics must maintain the clarification of data utilization as barriers of regulation and effectiveness.
  • It is a challenge for marketing analytics to increase the awareness and support the decision-making level in IBM of Australia (Fukawa and Swayne 2016).

Use of Technology

As IBM is the largest Information Technology Company in all over the world by its revenue nature, it has some latest technology for moving up the business into global market segmentation. The company has included both hardware and software server for better natural resources in current day as well as in future. The company includes some outsourcing technology for the outside country of IBM. The technology of IBM is enough to maintain the business in the country of Australia. To run the business into the global market segmentation, the company needs to have some latest technology for growing the business outside Australia (Shum Busaba and Jacobi 2013).

It is no doubt the company is increasing in the industry but in the sense of competition in the market; the company needs to improve some of its technologies and tools. The company has to give some new features to its existing technology and have to operate some latest hardware and software system as per market needs. The company needs to have some other equipment and software server and storage of the product. Though the company has the technology of software system, it also needs to have some latest application software and outsourcing service management tools for making international business apart from Australia (Paroutis Bennett and Heracleous 2014).

Conclusion

From the above discussion it has been considered that Customer Relationship Management refers to an analytical term which contains the strategies, practices, and technologies which the company uses for managing and analyzing the interaction of the customer as well as customer lifecycle data. IBM is one of the international companies, and its biggest brand is situated in Australia. CRM system in IBM plays a vital role in the current market segmentation to run the business into the international market. Some analytical and literature view has been discussed in this report as per CRM system of IBM. From the above discussion it has been concluded that the company is running in most of the foreign countries with 434,246 employees in all over the world.

The strategic value of CRM in IBM is an approach which may lead to success in Australia. With the help of strategic value of CRM, the IBM can make the better decision making and also help in the management of the company's products and customers in Australia. The report disclosed the marketing analytics strategy of IBM and also the necessity of CRM in the current market segmentation. There are many challenges which are faced by the proper CRM system in the company. The marketing analytics of the company helps to make fund in the new analytical tools and give a proper solution as per needs of the company. Though the company has some information technology and operating system, it has to set up some new latest technology for the growth of the company. The company has included both hardware and software server for better natural resources in current day as well as in future. There are many ways of doing CRM system in the company which is discussed above in the study. If IBM maintains CRM system correctly in the company, it may lead to success and will get better growth of the company in Australia and outside country.

References

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