Saturday, March 22, 2008

IT Management: Week 48

Customer Relationship Management

Learn
Customer Relationship Management (CRM) can be defined as the strategy by which a company attempts to maximize the value of its market by managing and maintaining the customer relationship. CRM promises to enhance capabilities and increase efficiencies in across all client-facing functions within the modern day multinational pharmaceutical company. The aim is to improve customer retention and support market development, while reducing the operating costs attributed to sales, marketing and customer fulfillment activities.

Unlearn
CRM is not just about IT or run by IT department.

Relearn
CRM currently holds a pivotal role within the pharmaceutical industry, enabling companies to increase the return on investment (ROI) attributable to sales and marketing. As sales and marketing costs have grown in line with drug revenues, value of the sales representatives, the key promotion tool for pharmaceutical sales, has diminished under the impact of increased competition for physician access.

1 comment:

shah dan said...

CRM works well at Pfizer ?