The business model refers to how the company makes money. There are two types of business models: B2C (business-to-consumer) and B2B (business-to-business). A B2C business sells its products directly to consumers. A B2B business sells its products to other businesses.
1. Customer Relationship Management
CRM stands for customer relationship management. CRM software helps companies manage their relationships with customers. CRM systems help companies track interactions with current and potential customers. CRM systems may collect information about customers’ buying patterns, sales history, product usage, market research, and competitor activities. Companies use CRM systems to send targeted marketing messages and offers to individual customers. CRM systems can also automate tasks such as order entry, invoicing, inventory tracking, and shipping.
Salesforce is a cloud computing service that provides applications for managing customer data, contact lists, and sales pipelines. Salesforce was founded in 1999 and is headquartered in San Francisco, California. Salesforce’s flagship product is Salesforce1, which is a mobile app that enables users to access their data from any device. In addition to Salesforce1, Salesforce offers several other apps, including Service Cloud, Chatter, AppExchange, and Marketing Cloud.
A marketplace is a platform where buyers and sellers meet to trade goods and services. An online marketplace is an electronic version of a traditional marketplace. Online marketplaces allow buyers and sellers to connect without geographical boundaries.
4. Product Lifecycle Management
Product lifecycle management (PLM) is a business strategy that focuses on the entire life cycle of a product. PLM encompasses the processes involved in designing, developing, manufacturing, distributing, selling, supporting, and maintaining products throughout their lifecycles.
5. Supply Chain Management
Supply chain management (SCM) is the process of coordinating and controlling the flow of materials and information between suppliers, manufacturers, wholesalers, retailers, and consumers. SCM includes logistics, transportation, procurement, warehousing, inventory control, and financial management.
6. Demand Planning
Demand planning is the process of forecasting future demand for a product. Demand planning involves analyzing historical demand trends, identifying factors affecting demand, and predicting future demand.