Ayeman Rahman_2205788 by Ayeman Rahman

Strategic Account Management

aymnrahman — 2024-09-23 11:02:27 UTC

Strategic Account Management is a process of building value driven strategic relationships with key customers to help long-term development, and retention to maximize revenue. In simple language strategy of building long term relationships with customers who generate the most profits in the company.

Upselling

aymnrahman — 2024-09-23 12:00:13 UTC

Upselling is selling a updated or upgraded product to a customer who bought the initial product, Such as, selling new versions of Iphones to loyal customers.

Cross selling

aymnrahman — 2024-09-23 12:00:33 UTC

Cross selling is selling complementary products to a customer who bought the initial product. Such as, selling a drink with a burger.

Transaction based selling/marketing

aymnrahman — 2024-09-23 12:02:08 UTC

Transaction based selling/marketing is where seller focuses on short term profit. Such as, selling bulk products.

Relationship based selling/marketing

aymnrahman — 2024-09-23 12:02:35 UTC

Relationship based selling/marketing is where seller focuses on long term profit by building relationships. Customizable products let seller to build relationship with buyer, as buyer finds comfort or builds trust on seller through this.

Customer-supplier relationships

aymnrahman — 2024-09-23 12:02:59 UTC

Customer is responsible for providing proper information regarding his demand/need, so that seller can produce accordingly.

Primary product

aymnrahman — 2024-09-23 12:03:24 UTC

Primary products are elements which are necessary to produce the final product.

Secondary products

aymnrahman — 2024-09-23 12:03:44 UTC

Secondary products are outsourced products or services which are not essential to produce the final product.

Customer (relationship) lifecycle

aymnrahman — 2024-09-23 12:13:58 UTC

There are 5 stages of a customer's lifecycle. Firstly, a customer acknowledges about the product or service, which is the Awareness stage. In the second & third stages, customers express about their needs and wants and you fulfill according to it. Finally in the forth and fifth stage, they become loyal customer. In the very beginning customers are handled by the marketing department, then in the middle by the sales and lastly by the customer services department.

Supply chain

aymnrahman — 2024-09-23 12:14:35 UTC

Supply chain is the process of sourcing raw materials, building product, and distributing it to customer.

Value chain

aymnrahman — 2024-09-23 12:14:55 UTC

When producer starts to design the product with customer values and produces according to those values, it’s supply chain converts to value chain.

Customer Relationships Management

aymnrahman — 2024-09-23 12:15:16 UTC

CRM is a tool which collects customer’s data, analyzes them and acts accordingly to ensure customer satisfaction to build and keep the relationship. CRM starts from building awareness of the product between the customer and keep going on even after turning them into a loyal customer by offering them solutions according to their needs.

Channel Partner Management

aymnrahman — 2024-09-23 12:15:36 UTC

Channel Partner is the medium by which producers distribute their products to customers. Channel Partner Management is planning to prioritize selected distributors to maximize profit.

Customer Intelligence

aymnrahman — 2024-09-23 12:16:27 UTC

Customer Intelligence is collecting customer data and catching insight from it.

Cross Channel Communication

aymnrahman — 2024-09-23 12:16:53 UTC

Cross Channel Communication is combining different channels to communicate with customers.

Individualized proposition

aymnrahman — 2024-09-23 12:17:38 UTC

Individualized proposition is offering customized offerings to customers according to their collected data.

Product Leadership

aymnrahman — 2024-09-23 12:17:55 UTC

Product Leadership is being excel in product quality.

Customer Intimacy

aymnrahman — 2024-09-23 12:18:20 UTC

Customer intimacy is being customer oriented, such as changing product qualifications/ quality according to customer need.

Operational Excellence

aymnrahman — 2024-09-23 12:18:44 UTC

Operation Excellence is being efficient in production or service.

Right Sales Channel

aymnrahman — 2024-09-23 12:19:04 UTC

In B2B selling producer does not deal with the end consumer so their channel represents them to customer. If producer chooses right sales channel, they serve customer according to company values to achieve customer satisfaction and provide customer data to company for product development.

Dashboard

aymnrahman — 2024-09-23 12:19:18 UTC

Dashboard is a window where multiple projects current state are presented or different features are presented of a particular project at a time.

Lead Qualified

aymnrahman — 2024-09-23 12:19:37 UTC

Lead Qualified is the point where customers need meets companies offering.

Individual Customer knowledge

aymnrahman — 2024-09-23 12:21:21 UTC

Individual Customer knowledge is data of particular preference of each customer.

Customer-centric organization

aymnrahman — 2024-09-23 12:21:55 UTC

Many companies focus on product or operational excellence, on the other hand some companies focus on customer needs which is a customer-centric organization.

ERP

aymnrahman — 2024-09-23 12:22:39 UTC

The system which allows an organization to track the production circle of an product is ERP.