Introduction - Difficulties in today’s business
As a result, there are endless challenges in order to sustain a company business. One of the challenges is instense competition among companies which contribute to the following factors.
FACTOR#1: Multiple choices for consumers
Market always not getting tired of approaching consumers with their best products under different type of platforms. A wide variety of products are used to draw in consumers looking for an array of goods. Fast-change and diversify demand has become consumers’ consideration.
FACTOR#2: Accessible information
It is easy to compare a product’s usage, quality and prices at anytime via the Internet. Word-of-mouth has become an uncontrollable buying behaviour trend for a consumer. There is a high chance for you to lose your customers when negative comments go viral in internet.
FACTOR#3: Rapid changes in technology trends
Even if new products and new services are introduced using the latest technology, the technology itself will soon become obsolete, or it will be followed by other companies in a short time. As a result, maintaining own advantage is getting difficult.
Under such circumstances, are not these methods being implemented to strengthen profitability at many companies?
- Enhancement of advertisement & promotion
- Strengthen dealer incentives
However, probably there are not many companies that recognize how much these methods actually contribute to profits.
The following graph is from an American report, it mentioned the average lifetime of S&P 500 companies is decreasing. It describes that the company's survival is getting difficult due to the complicated business environment.
(Source) : https://www.cnbc.com/2017/08/24/technology-killing-off-corporations-average-lifespan-of-company-under-20-years.html
The average lifetime of companies was 60 years in the 1950s, but it became less than 20 years in 2012, it is shorter than 40 years.This phenomenon is a global trend.
We would like to propose CRM that realizes "improving sales while reducing unnecessary expenses" which is the most important factor for company growth.