Running head: PROBLEM SOLUTION: TERATECH
Problem Solution: TeraTech
Carolyn Whittaker
University of Phoenix
September 8, 2008
Problem Solution: TeraTech
Currently the dominant player in a new arena, TeraTech a leader in the pharmaceutical industry, is a fiver year-old Customer Relationship Management (CRM) solutions provider. This CRM concept is relatively new, and its basic function is to help develop a complete picture of the industry customers, then evaluating those relationships across products and services.
The purpose of this paper is to first identify the different issues and opportunities that TeraTech is facing, and to discuss the various alternatives that could help them solve their problems. The ultimate solution of course, would be to help TeraTech reach an effective process by which they establish customer satisfaction and customer loyalty, through efficient customer service. Successfully doing this will bring an increase in sales and profits, and help maintain a level of satisfactory customer relationships.
Describe the Situation
Issue and Opportunity Identification
TeraTech’s CEO is concerned because of the significant fall in the fourth quarter sales. The executives at TeraTech, suspects that aggressive and increased competition from other companies that produces the analytical software that the pharmaceutical industry want, is also part of their problem. They are also concerned with the dissatisfaction of their customers, which was revealed to them by the most current customer surveys. Another major issue facing TeraTech, is their reluctance to hire new employees. Although the current employees do not have the skills needed to handle the new analytical product, they ...