Corporations that achieve high customer retention and high customer profitability aim for:The right product (or service), to the right customer, at the right price, at the right time, through the right channel, to satisfy the customer's need or desire. Information Technology—in the form of sophisticated databases fed by electronic commerce, point-of-sale devices, ATMs, and other customer touch points—is changing the roles of marketing and managing customers. Information and knowledge bases abound and are being leveraged to drive new profitability and manage changing relationships with customers. The creation of knowledge bases, sometimes called data warehouses or Info- Structures, provides profitable opportunities for business managers to define and analyze their customers' behavior to develop and better manage short- and long-term relationships.
DEC 31, 1969