Next Best Offer and Customer Research Essay

Exclusively available on IvyPanda Available only on IvyPanda

Davenport, Mule, and Lucker (2011) emphasize an idea where customers’ interests are captured using a route of discovery. The procedure involves using available data to guide customers to discover their needs through the provision of unique products and services. Davenport et al. (2011) have approached the subject in different ways from that used by MacDonald, Wilson, and Konus (2012) who suggest that the correct approach is to use marketing research to identify the drivers of consumer behavior such as attitudes. On the other hand, Maklan, Knox, and Peppard (2011) argue from the perspective of using the identification of customer relationship marketing (CRM) to fulfill customer needs and expectations. Davenport et al. (2011) and MacDonald et al. (2012) describe marketing concepts, which are different from the experimental approach used by Maklan et al. (2011).

We will write a custom essay on your topic a custom Essay on Next Best Offer and Customer Research
808 writers online

A discourse of ideas by Davenport et al. (2011) includes the use of strategies such as data mining and computer technology to discover and provide customers with their needs and expectations and to communicate customer preference effectively. An example is Tesco’s NBO strategy which emphasizes on fulfilling customer needs by closely crafting messages and product offerings that expand on the customers’ purchasing behavior. A theme of customer focus is presented by Davenport et al. (2012), which emphasizes on a line of discovery using technology and buyer behavior. MacDonald et al. (2012) present a theme that presupposes that marketing mistakes underpin the errors organizations make in offering wrong products and services to the customers and suggests the use of a marketing survey as a fundamental tool to use to understand the buyer behavior before making any product or service offerings.

MacDonald et al. (2011) identify a wide range of expensive and labor-intensive concepts such as ethnographic research which is prone to errors that arise from poor perceptions and judgments on customers’ buyer behavior. Here, examples include the faulty strategies adopted by HP, Energizer, and Microsoft among other companies. On the other hand, the theme presented by Maklan et al. (2011) emphasizes on executives who use wrong methodologies to research customers’ buyer behavior and suggests a better CRM strategy where the ability of the manager is first evaluated before an organization starts to market a service or a product.

The underlying explanation is that framework should be embedded that is built on the four marketing principles of the CRM paradigm, which provides a strong foundation for establishing a good relationship that enhances the manager’s ability to implement radical changes that address customer needs and expectations precisely. It is evident that Davenport et al (2011), Maklan et al (2011) and MacDonald et al (2012) focus on the best methods to target the customer and improve their buyer behavior, but radically differ on the best strategies to apply.

It is imperative to note that the three authors present their arguments in convincing ways that lead the reader to acknowledge and agree with their approaches. The arguments presented by Davenport et al (2011), Maklan et al (2011) and MacDonald et al (2012) are convincing because they are founded on sound marketing principles and facts that are built on empirical evidence. For instance, Davenport et al (2011) uses data to draw conclusions on customer needs and to perfectly offer customized products.

Here, the argument is that organizations need to collect data, which they could analyze using statistical tools to generate accurate facts that could enable a firm to know their customers and their purchasing characteristics. On the other hand, it is evident that MacDonald et al (2012) bases the study on the use of technology and supports those assumptions that analytical data correctly analyzed using statistical methods such as regression analysis provides strong evidence of the attitudes of the customers.

Here, the key drivers of the success achieved by MacDonald et al (2012) include data on customer reactions, competitive analysis, real-time actions, and the chain of touchpoints. Maklan et al (2011) present arguments with strong case studies and evidence-based data on CRM. However, the main points of disagreement among the authors are the approaches that are used to explain their positions because some of them are not based on theory and scientific evidence. Here, the authors have not integrated traditional marketing and market research paradigms but seem to focus only on a data-driven approach.

1 hour!
The minimum time our certified writers need to deliver a 100% original paper

The authors have carefully and accurately used the scientific approaches to answer the questions and concerns that arise in different marketing environments. For instance, Davenport et al. (2011) use a framework which recommends that a firm should know their customers, understand the products and services on offer, conduct a statistical analysis of the data, and make conclusions which can be used for decision making. Data can also be used to make information available for decisions making and improve an organization’s learning.

I have learned that while the authors’ arguments are within the context of the marketing theories and principles, not all the articles precisely or accurately factor the concepts and reveal them in their discourses. Davenport et al. (2011) and MacDonald et al (2012) need to accurately represent their arguments within proven marketing theories and concepts and justify the validity of their research methodologies to reinforce the accuracy of the arguments.

Maklan et al (2011) has presented a lengthy description of the CRM and supported the ideas using evidence from different case studies. However, it is not easy to identify the theoretical background on which the study is based. However, I strongly agree with the authors on the approaches used to present their ideas on CRM and the underlying concepts, which include demand management, customer relationships management, use of marketing knowledge, and building brands. The concepts have transitional, one-to-one, and networked characteristics, which are clearly illustrated in the examples that have been used in the narratives. However, Davenport et al (2011), Maklan et al (2011) and MacDonald et al (2012) have strongly put across their arguments so as not to leave any doubts about the scope of the author’s knowledge on the subject matter on-target marketing.

In practice, the lessons serve as a strong foundation for marketing professionals. The narrative by Davenport et al (2011) is an accurate representation of the use of technology to reach a wide audience of customers. In the narrative presented by MacDonald et al (2012), one can note the importance of understating customer buying behavior to make the right decisions. Maklan et al. (2011) describe the facts that can be used to make the right decisions on customer relationships. The future implications are that marketing can be improved in an environment that dynamically changes with changing consumer behavior.

Reference

Davenport, T. H., Mule, L. D., & Lucker, J. (2011). Know what your customers want before they do. harvard Business review, 89(12), 84-92. Web.

MacDonald, E., Wilson, H., & Konus, U. (2012). Better customer insight-in real time: a new tool radically improves marketing research. Harvard Business Review, 2012(9), 102. Web.

Maklan, S., Knox, S., & Peppard, J. (2011). Why CRM Failsand How to Fix It. MIT Sloan Management Review, 52(4), 77. Web.

Remember! This is just a sample
You can get your custom paper by one of our expert writers
Print
Need an custom research paper on Next Best Offer and Customer Research written from scratch by a professional specifically for you?
808 writers online
Cite This paper
Select a referencing style:

Reference

IvyPanda. (2020, July 18). Next Best Offer and Customer Research. https://ivypanda.com/essays/next-best-offer-and-customer-research/

Work Cited

"Next Best Offer and Customer Research." IvyPanda, 18 July 2020, ivypanda.com/essays/next-best-offer-and-customer-research/.

References

IvyPanda. (2020) 'Next Best Offer and Customer Research'. 18 July.

References

IvyPanda. 2020. "Next Best Offer and Customer Research." July 18, 2020. https://ivypanda.com/essays/next-best-offer-and-customer-research/.

1. IvyPanda. "Next Best Offer and Customer Research." July 18, 2020. https://ivypanda.com/essays/next-best-offer-and-customer-research/.


Bibliography


IvyPanda. "Next Best Offer and Customer Research." July 18, 2020. https://ivypanda.com/essays/next-best-offer-and-customer-research/.

Powered by CiteTotal, online essay citation generator
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda. Request the removal
More related papers
Cite
Print
1 / 1