A firm supplies a single line of products to consumers using retail stores and on-line sales, distributors, and wholesalers. Currently the firm has common pricing and response times for sales in each sales channel. Which of the following tools is most appropriate to employ to improve profitability?

Question

A firm supplies a single line of products to consumers using retail stores and on-line sales, distributors, and wholesalers.  Currently the firm has common pricing and response times for sales in each sales channel.  Which of the following tools is most appropriate to employ to improve profitability?

Quizplus · Accepted Answer

Customer segmentation would help the firm identify different groups of customers based on their buying behavior and preferences, allowing the firm to tailor their pricing and response times to each group's unique characteristics. This can help improve profitability by focusing efforts on the most profitable customer segments and adjusting pricing strategies to capture more value. Customer-facing ordering systems, CRM, and SCOR® are also useful tools, but may not be as effective in addressing the specific issue of improving profitability in this scenario.

A Firm Supplies a Single Line of Products to Consumers