Customer Portfolio Management Essay Example | Topics and Well Written Essays - 2500 words

Customer Portfolio Management - Essay ExampleCustomer preferences and nodes attributes helps businesses to decide upon what products and go should be offered to the customer segment and how it should be marketed and priced so that it matches customers requirements and desires. This research paper would look into marketing concepts and theories, which helps businesses to build and maintain a customer portfolio. For this purpose, the researcher has bygone through and understood various theories and research works to elaborate on the concept of customer portfolio management. Content of the Customer Portfolio The content of the customer portfolio enables managers to understand the business-to-business marketing strategies that can be utilized for assessing supplier-customer relationships. With this assessment, managers identify scarce resources of the institution and allocate them accordingly so that maximum profitability can be achieved (Sinha et al., 2002). The content of customer portfolios makes it easier for managers to optimally compose customer relationships in order to determine, whether the company amongst members of the target market because of its customer relationship tactics or the competitive perplex of the organization (Ravenscraft, 1983). This is the reason, that customer portfolio management is considered as an integral part of an organizations marketing functions. ... managing the line of products and brands, by aligning financial and budgetary resources with the resource allotment strategy and creating coordination between organizational teams to ensure implication of business, product and marketing strategy. The product portfolio management consists of taking care of a number of activities such as conducting market research to understand consumer dynamics, aligning key suppliers who will prove to be beneficial, determining marketing and distribution tactics and etc. On the new(prenominal) hand, customer portfolios makes it easier for man agers to optimally compose customer relationships in order to determine, whether the company amongst members of the target market because of its customer relationship tactics or the competitive position of the organization. This is the reason, that customer portfolio management is considered as an integral part of an organizations marketing functions (Sanchez, 2005). Strategic Accounting Management Strategic accounting management is polar from managing financial accounts of a business. Instead, these strategies are related with developing marketing systems that ensures that long-term relationships are maintained with strategic customers of the organization. These strategic customers might include organizations suppliers of raw material and other vendors. Strategic accounting management is beneficial in a sense, that it helps the business to improve the quality of raw material use by maintaining healthy relationships with the suppliers and in any case reduces the cost of acquiring new strategic partners in the given marketplace. On the other hand, strategic accounting management also enables the organization to determine the specific needs of strategic customers and tailoring the products according to