Question

1- What role does Customer Portfolio Management play in an organization. In advancing your thought,established your understanding of CPM,what goes into CP and why serious organizations cannot succeed without it.

2-Surviving in an industry today is primarily dependent on how well an organization is able to create and build stronger customer relationship.

In discussing how this can be done in this 21st century, consider the role of technology/database management systems.

Answer 1

Answer 1) Customer Portfolio Management is a system designed by a company to list all its customers in several heads. The company decides these heads, and these heads depend upon various factors. The grouping is essential because the company needs to know those customers that are very beneficial and generate massive revenue for the company.

A serious organization cannot succeed without implementing Customer Portfolio Management because it needs to identify big customers. The company has to spend money to retain its big customers. After all, these customers generate vast amounts of profit for them. Another thing in which Customer Portfolio Management helps is that it enables the company to identify potential customers that can generate sales in future dates.

2) Technology plays an integral part in a business's growth because it enables a company to attract more customers and retain further. The company should build its website to attract and get in touch with more customers and provide them with excellent service. Companies through social media can interact with their customer helps them in delivering what they want. By installing Customer Relationship Management Software, the company can record the customer activity and help them provide excellent after-sales services and help them show different kinds of products.

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