MIS in creating value for Customer Relationship Q5

Q. (Also posted in My-RealProperty1)

a) Discuss the relevant parts of the marketing information system that a company must design to create customer value and stronger customer relationships. (10 marks)

b) Discuss the steps in the marketing research process which could be applied for the development of a proposed housing scheme. (10 marks)

(20 marks, 2012 Q5)

A.
a) MIS to create customer value and stronger customer relationships.

This is Customer Relationship Management System (CRM), a data collection system that could store and analyse customer data.

In short, company adopt a management information system to collect all the customer data. As data is collected and grouped into various categories, the analysis of it can yield valuable marketing information, for example, potential customer demographic (age group), educational level, likes and dislikes and income brackets. In this sea of data, customer contact like telephone number, email address and where they stay can be stored. Periodical mailing of product information and even questionnaire can be done on them, further producing marketing research information.

With all the information gathered and studied, the company design products best satisfy the customers. This can improve satisfaction level and increase customer relationship and loyalty. Long term customer relationship management can result in goodwill and strong brand loyalty thus increasing in life time purchase and customer equity of the company.

b) Marketing Research Process in new housing scheme.

Ref:
Own Account with reference to Strategic CRM for Customer Satisfaction.