Costumer Relationship Management

Customer Relationship Management or CRM, is a very effective tool in predicting and helping customers especially in the banking industry. Lets look at some examples to see how CRM can help you in certain situations:

Lets suppose that you are a family with your spouse and two children. You have a home mortgage, two car loans, you're building up a retirement account, and you're putting away money for the college education of both your children, all with the same bank. How would a CRM use it's information if:

You and your spouse decide to have a another child.

The bank would most likely set up another account with which you could put away funds for the third child's education.

You lose your job.

With a home mortgage and two car loans the bank might decided to offer you another loan to tide you over till you land another job. Perhaps lowering your payment for your retirement account.

One of your parents is stricken with a severe and long term illness, and has no medical insurance, leaving you to pay the bill.

You consistently incur transaction fees for using an ATM not in your bank's ATM network.

Although i don't know what the bank would do... this defianately seems like an invasion of privacy to me.

Your identity is stolen.

You decide to build an addition on your home.

Movie Rental Industry

1. Is buyer power low or high?

High! Especially when it comes to going out and actually renting a movie there are several options to choose from for the buyers.

2. Is supplier power low or high?

This seems low when considering outdoor rental stores, but high when considering online renting stores such as Net Flix. This supplier power is going down however as blockbuster and possibly amazon are coming to compete.

3. Which substitue products and services are seen as threats?

One of the biggest threats that I see towards movie reantal stores is that of Redbox. The convenience of location, and price of rental is hard to beat. As for threats to the online rental world, the more places you can choose from the more buyer power goes up and the supplier power goes down. As for threats to the online world i definately see I-Tunes taking a large chunk out of the other companies a it attracts so many people with its prices and convenience.

4. Barriers?

As for barriers with online movie renting having the IT knowledge comes up as number one in my mind. If a new startup service wants to compete with one of the more popular companies it needs to find a way to be more convenient and perhaps quicker than its competitors.

5. What is the level of rivalry?

Currently the level of rivalry doesn't seem too high however as technology continues to advance i see this going way up.

1. Net Flix

2. Block Buster

3. Hollywood Video

4. Red Box

5. I-Tunes

Currently this seems like a safe Industry to enter as long as you possess the techie knowledge to compete with the big guns out there already. Perhaps producing a way to get the movies to consumers faster and cheaper will provide that edge needed.

Career in IT Article

Well i found this article to be very informative and helpful. It definately helped me to see all of the careers that are out there and how much IT is necessary to get there.

Business Specialization:

Management

Job Title:

Business Development Manager (this is the job that i found to be most appealing for lack of having more specific jobs)

Classes offered at your school:

Management Information Systems

Windows Networking

IT skills you need to acquire:

Database Management and Integration

Speadsheets

Enterprise Resource Planning (ERP)

Locations you would Consider:

Arizona

East coast

Really anywhere i could get a good job

Companies you would consider:

Citi

JPmorgan

Jobs on MOnster.com:

Job title:

Manager/Strategic manager

Location:

New York, New York

Salary:

Not listed

Hello

Well here i am in the Blogging world. It's so great