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It is the inherent desire and need for a business to grow successfully. Customer relationship is the new commodity in this capitalistic society that determines the wealth of the business. Customer Relationship Management (CRM) is the way a company attempts to maximize the value of its markets while maintaining a relationship with its Customers (University of Phoenix 2008). Tera Tech a (CRM) pharmaceutical solution provider has been successful with their existing CRM product; however, customer service issues where present. Tera Tech can improve the chances to stay successful by benchmarking companies like Tomra Systems, Wilson Sporting Goods, and Toyota Automotive.
Generic Benchmarking Worksheet
Task A: Problem/Opportunity Statement
Response to Task A:
Tera Tech faces the challenge of reducing costs and at the same time rolling out an analytical product that will satisfy their client base. Tomra Systems faces the challenge of running 200 recycling kiosks nationwide with the goal of reducing waste and encouraging their clients to come up with new ideas in recycling.
Response to Task A:
TeraTech is a 5 year old company that is faced with a challenge to develop a new product or concept for a product they must be able to convince their current and future clients that this new product is beneficial and will be a good investment. One opportunity that they will be faced with is these products will not sale everyone aboard and they must figure out how to appeal to the current and future market of TeraTech.
Response to Task A:
TeraTech will be an industry that preserves a visible lead, be profit bearing, and provide adequate customer ser ...