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Tera Tech Problem Solution

Running head: PROBLEM SOLUTION: TERATECH

Problem Solution: TeraTech
Demand for a CRM product line that goes beyond the basic functions to a more analytical model has TeraTech looking to develop a new, more competitive product. The new CRM product would encompass the ability to customize a technical solution and ensure that the entire business is focused on serving the customer. TeraTech would like to be a frontrunner as these applications develop, and is presently looking for growth opportunities (TeraTech Scenario, 2008, p. 1).
Describe the Situation
Issue and Opportunity Identification

As competition increases and sales decline, TeraTech needs to develop innovative products to remain a leader in the CRM industry. These products must use the technology available to allow customers to customize the CRM products. One of TeraTech’s primary issues is the lack of understanding of the CRM solution in the pharmaceutical industry. TeraTech has not performed a marketing mix analysis or done environmental scanning. The current CRM product is not meeting customer’s needs, and missing ROI and sales targets. TeraTech needs to align internally to meet new demands while developing marketing strategies for current and future products to better serve consumers (TeraTech Scenario, 2008).
Stakeholder Perspectives/Ethical Dilemmas
The primary stakeholder for TeraTech is upper management. They currently have several concepts of where the company should be going and how to move the company forward. TeraTech has an obligation to its customers to continue to lead the way with providing CRM solutions and product diversification to meet the customer needs. The ethical dilemma with this relationship is the constant demand from the customer and the cost to TeraTech associated with meeting the demand. The final group of stakeholders is the employees and their situation with management’s decision not to hire more staff, in spite of the increased...