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Business Strategy Paper

1303 words - 6 pages


Marketing & Customer Relationship Concept Worksheet
University of Phoenix
Dr. Ron Morritt
MBA 570
May 24, 2008

|A: Concept |B: Application of Concept in Scenario |C: Citation of Concept in|D: Personal Experience in your|
| | |Reading |Organization |
|Key external trends such as |The customer research TeraTech |“The social forces of the |Every year Curves solicits |
|Social Forces through the study |commissioned revealed distinct ...view middle of the document...

| |can advertise to these women. |
|Key external trends such as |TeraTech may be a dominant player in the |“In developing a marketing|At Caffé, we entered |
|Competitive Forces |CRM field, but competition is increasing |program, companies must |an existing competitive field |
| |and the fact that customers are |consider the factors that |knowing that we needed to |
| |dissatisfied with TeraTech’s service bodes|drive competition: entry, |create a program that would be |
| |ill for the firm’s future. CEO Jack Dwyer |bargaining power of buyers|difficult for our competitors |
| |and his team must find ways to solidify |and suppliers, existing |to duplicate. We designed a |
| |the customer base and mitigate the issues |rivalries, and |model that would require |
| |that threaten to reduce TeraTech’s market |substitution |prohibitive replication costs. |
| |share. |possibilities” (Kerin, |It has been a successful |
| | |Hartley, Berkowitz & |strategy since, in over two |
| | |Rudelius, 2005, p. 87). |years, we have not yet |
| | | |encountered a fight for the |
| | | |market share we have taken. |
|Consumer purchase decision |Customers of TeraTech are dissatisfied |“Problem recognition, the |As a partner in Caffé,|
|process such as Perceiving a |with the CRM product of the firm and as |initial step in the |I participate in the sales |
|Need |such will be highly susceptible to the |purchase decision, is |process, both finding customers|
| |marketing impact of competing products. |perceiving a difference |with need and creating a |
| |Once customers become aware that they have|between a person’s ideal |perceived need in customers |
| |a new alternative to resolve their current|and actual situations big |unaware that a better coffee |
| |issues, they can be motivated to leave |enough to trigger a |program exists. Sometimes the |
| |TeraTech in favor of a company that |decision” (Kerin, Hartley,|phone will ring with someone |
| ...

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