Significance Of Customer Portfolio Management In Modern Business Envir Essay

Significance Of Customer Portfolio Management In Modern blood line Environment - Essay ExampleA loyal node is an invaluable asset to any fundamental law that contributes to the accomplishment of the firms long-term goals and objectives. Scholars reflect that efficient customer portfolio management at opposite levels of an organization is a fundamental driver of strategic as well as financial success. The archetype of customer portfolio can significantly contribute to the firms efforts to retain the profitable segments of its customers because customer portfolio is a potential personal manner to achieve enhanced customer satisfaction. According to experts, in much the same way that we can examine a portfolio of products or brands, the importance of customers as assets and investment centers mandates a similar portfolio analysis (Hooley, et al. 2008, p.436). This paper will explore the concept of customer portfolio management. The paper will also discuss how a company can apply this concept in its strategic management.The term portfolio is often used by management professionals in the context of investments to represent the collection of assets owned by a person or an institution. With regard to customers, this term has a parallel meaning. A customer portfolio can be defined as the collection of mutually exclusive customer gatherings that comprise a jobs entire customer base (Buttle, 2009. p.125). In simple words, a customer portfolio encompasses different groups that make up a businesss customer base. For instance, Coca Colas customer portfolio comprises grocery stores, amusement parks, and restaurants. The thorough analysis of customer portfolios can assist a company to identify how a specific customer group is performing.