How can companies use information technology as a competitive advantage?

Question

Quizplus · Accepted Answer

The Answer is Technology and the Internet have made the information required for marketing decisions more accessible than ever. Marketers can easily track customer buying behavior, obtain detailed demographic profiles, and anticipate what buyers want-making it possible to fine-tune marketing mixes to satisfy customers. Information technology permits for easy internal research and quick information gathering to help marketers better understand and satisfy customers. CRM has been enhanced by the ability to integrate and access data from all customer contacts. Many firms use marketing information systems, CRM technologies, and cloud computing to network technologies and organize the marketing data available to them. Improvements in information technology have made it possible for firms to develop databases that are vastly enhanced in their speed and storage capacity to guide strategic planning and improve customer service.

How Can Companies Use Information Technology as a Competitive Advantage