What Is an Elevator Pitch?

What is an elevator pitch?

The elevator door opens. And there stands your ideal investor. It's the chance of a lifetime. But that chance only lasts as long as the elevator ride - you have less than a minute to make an impression. Hopefully, you've got a well-crafted elevator pitch ready to give.

CRM, or Customer Relationship Management, is a company-wide business strategy designed to reduce costs and increase profitability by solidifying customer loyalty. True CRM brings together information from all data sources within an organization (and where appropriate, from outside the organization) to give one, holistic view of each customer in real time. This allows customer facing employees in such areas as sales, customer support, and marketing to make quick yet informed decisions on everything from cross-selling and upselling opportunities to target marketing strategies to competitive positioning tactics. The growth of online retailing and new age social media platforms has led to a lot of innovations in the CRM space and companies are going all out to connect with their customers better. Now its time for you to get involved and tell us what you think.

The competition will be evaluated based on marketing, promotion, and merchandise planning and store design strategies by a panel of judges appointed by RAI. The teams will also be evaluated on operational parameters like inventory planning and financial parameters like return on investment(ROI) and inventory turnover ratio. The key challenge for the teams will be to predict demand for different products, identifying the profit maximizing price points and optimal inventory quantities.