Customer Relationship Management (CRM): A system that helps a company which manage all aspects of customer encounters, including marketing, sales, distribution, accounting and customer service. The objective of CRM is to recognize and anticipate the requirements of present and potential customers to rise customer holding and reliability while enhancing the technique that products and services are retailed.

Question

As the head buyer for a major supermarket chain, you are constantly being asked by manufacturers and distributors to stock their new products. More than 50 new items are introduced each week. Many times, these products are launched with national advertising campaigns and special promotional allowance to retailers. To add new products, the amount of shelf space allocated to existing products must be reduced or items must be eliminated together. Develop a MIS report that you can use to estimate the change in profits from adding or deleting items from an inventory. Your analysis should include input such as estimated weekly sales in units, shelf space allocated to stock items, total cost per unit, and sales per unit. Your analysis should calculate total annual profit by items and then sort the rows in descending order based on total annual profit.

Answer 1

Question

Chapter 8, Problem 3DQ

Program Plan Intro

Customer Relationship Management (CRM):

A system that helps a company which manage all aspects of customer encounters, including marketing, sales, distribution, accounting and customer service.

The objective of CRM is to recognize and anticipate the requirements of present and potential customers to rise customer holding and reliability while enhancing the technique that products and services are retailed.

Expert Solution & Answer

Trending nowThis is a popular solution!

See solution

Check out sample textbook solution

Students have asked these similar questions

As the head buyer for a major supermarket chain, you are constantly being asked by manufacturers and distributors to stock their new products. More than 50 new items are introduced each week. Many times, these products are launched with national advertising campaigns and special promotional allowance to retailers. To add new products, the amount of shelf space allocated to existing products must be reduced or items must be eliminated together. Develop a MIS report that you can use to estimate the change in profits from adding or deleting items from an inventory. Your analysis should include input such as estimated weekly sales in units, shelf space allocated to stock items, total cost per unit, and sales per unit. Your analysis should calculate total annual profit by items and then sort the rows in descending order based on total annual profit.

Background CD Selections is a chain of 50 music stores located in California. Annual sales last year were $50 million, and they have been growing at about 3-5 percent per year for the past few years. Margaret Mooney, Vice President of Marketing, has recently become both excited by and concerned with the rise of Internet sites selling CDs. The Internet has the potential to enable CD Selections to reach beyond its regional focus and significantly increase sales. However, the Internet also poses a significant threat as Web competitors such as CDnow and Amazon continue to take sales from CD Selections traditional stores. CD Selections currently has a simple web page that provides information about the company and about each of its stores (e.g., map, operating hours, relative size). The System Approval has been given to create a new Internet sales system. A description of the new system is as follows: The Internet sales system will store basic information about the CDs that it can sell over…

Is it your opinion that customer-centric organizations generate more revenue, given the potential influence that service has on customer retention? Give me at least three justifications for your response.