1. Comment on the following statement: When done properly, companies can, in fac
ID: 366552 • Letter: 1
Question
1. Comment on the following statement: When done properly, companies can, in fact, dominate and control what is said about them on social media sites. (Do you believe this is true? Why or why not?)
2. Why are price comparison apps beneficial for some retailers and dangerous for others?
For further context on the evolution of retail impacting retailers and customers read the following article:
https://digiday.com/marketing/amazon-era-debating-store-future/ (Links to an external site.)Links to an external site.
https://www.retail-week.com/analysis/opinion/opinion-clicks-to-bricks-why-even-amazon-is-doing-it/7022193.article (Links to an external site.)Links to an external site.
https://www.entrepreneur.com/article/288149 (Links to an external site.)Links to an external site.
Based on this your personal experiences what do you envision for the future of CRM in retail?
Explanation / Answer
1:Yes. Based on their influence and reach to the public space companies can dominate and control social media sites. Companies like Amazon actually dominates in their online paltform through influencing a lot of customers through their buying behavior , especially through push advertisement and suggestions through social media websites and through their browsing history.
2:Price comparison apps actually compares the various offers promoted by the companies on the similar kind of services. In price compariosn app sometimes there can be very biased reviews based on the connection with vendors to influence the viewers. Thus price comparison tend to support the market leaders and it will not catch the services offered by small players in market. It can directly create influce on the users buying behavior. Mobile application which customise the results based on the shopping pattern and search browsing history throw results to the customers.The e-commerce platform is very much price sensitive and it can create direct impact easily. Thus some players might hit badly because of such comparison and some can survive in market through the reviews which can be genuine or paid.
Future of CRM ( Customer relationship management)
Future of retail CRM is all about real time customer experience monitoring and collecting feedback from them to give adequate value proposition. It will help them to give competitive edge in the market . Customer analytics will become focused through advanced features like Artificial Intelligence which can give insight to the organsiation how to focus on the weak area and how they can create a unique value propostion etc. CRM will be vibrant and active portals where customer can interact with service providers
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.