Customer Behavior

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Image courtesy of Flickr user **Maurice**.

Putting the ‘Relationship’ Back Into CRM

Many think that the way to capture value through relationship marketing is to focus on the “good” customers and get rid of the “bad” ones. But there is more to best practice relationship management than maximizing revenues on individual customers and minimizing costs to serve. This article provides guidelines for companies that want to improve the value of customer relationships. For most companies, the transition to a relationship-based approach will require a significant shift in practice.

Image courtesy of Flickr user Nathan Eal Photography.

Why Companies Have to Trade “Perfect Data” for “Fast Info”

Companies have been trained to think about data all wrong, say Attivio’s Ali Riaz and Sid Probstein. “Analytics don’t have to be based on super-precise data,” they say. “The report doesn’t have to be perfect. It needs to capture the behavior, not the totality of it.”

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Collaborative Consumption: Drivers, Systems, Implications

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Are you familiar yet with Rachel Botsman and her book What's Mine Is Yours: The Rise of Collaborative Consumption (HarperBusiness, September 2010)?

Her talk at TEDxSydney last May is featured at the TED website on the subpage about “The Rise of Collaboration” (the 15-minute presentation and a transcript are both

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Image courtesy of PepsiCo.

Selling to Many Cultures — Within the U.S.

Image courtesy of PepsiCo.

International markets have been increasingly important for many U.S. companies, and they are the assumed priority for future growth. Wal-Mart Stores Inc. is representative: In 1998 it obtained 6% of its revenue internationally; by 2008, international revenues constituted 25% of Wal-Mart’s much larger sales base.

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Seeking innovation? Look in new places.

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To generate innovative ideas, companies need to look in areas beyond the familiar -- and often slightly beyond their core, day-to-day businesses. That's one of the messages of "In Search of Innovation," an  article that is part of this week's edition of Business Insight.

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Cutting costs strategically

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Need to lower costs? Think about “re-featuring” your product, suggests Scott D. Anthony of Innosight.

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How to find opportunity in a downturn

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Bhaskar Chakravorti of Harvard Business School offers insights about entrepreneurship and innovation during a downturn,

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New tools help predict consumer tastes

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“Creating successful cultural products will always be a mixture of art and science,” write Thomas H. Davenport and Jeanne G. Harris in MIT Sloan Management Review. “It appears, however, that the amount of science in the mixture is increasing.”

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Corporate social responsibility initiatives: Here to stay?

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Many corporate social responsibility programs are so far surviving the recession — and new research reveals some economic benefits of social responsibility.

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