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(Solved) CRM Model of Tesco

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Added on  2020-10-23

(Solved) CRM Model of Tesco

   Added on 2020-10-23

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(Solved) CRM Model of Tesco_1
Table of ContentsMAIN BODY...................................................................................................................................31.CRM MODEL of TESCO........................................................................................................32.Relationship development with the customers and discuss how the company identifies,acquires, satisfies, and retains profitable customers. .................................................................33. CLV consideration in the customer acquisition and retention processes and evaluate theircongruence..................................................................................................................................34.Critically assess the business’ ability at enhancing customers’ loyalty...................................4REFERENCES................................................................................................................................5
(Solved) CRM Model of Tesco_2
MAIN BODY1.CRM MODEL of TESCO.Customer relationship Management (CRM)- It is the theory which directly relates to thecustomer's relationship. This theory explains how to manage appropriate relationship in theindustries of services such as in retail sector. In order to manage the customer relationship,company is effectively utilizing this theory. TESCO is managing its interaction with present,future and expected customers. This theory specially focus on the retention of consumers andtheir sales and profit maximisation of company. The capital role played by CRM is to engageeach consumers in a productive exchange of takings that helps company to engage eachconsumers in productive manner. TESCO is not utilizing this model only for maintainingcustomer relationship but company is using this model to support sales, services, order analysis,strategies and marketing (Konrath and et.al, 2017). Company is managing its human resources aswell by using this model.2.Relationship development with the customers and discuss how the company identifies,acquires, satisfies, and retains profitable customers. Relationship development means when company maintains its relationship withcustomers by focussing on achieving customer loyalty and repeat business by developingpowerful and optimistic relationship. TESCO is making effective relationship with theircustomers through effective communication and quality of customer service. TESCO isdeveloping its relationship by following the stages of CRM model. The management of companyis identifying its potential customers by targeting the market (Bani-Yaghoub and Reed, 2018).After than company is promoting its product in much attractive way in order to acquire thepotential customers. Further, company acquires the customers than it is very necessary to satisfythem by giving quality of products and better customer services. Last the most important stageof CRM model is to retain the customers.For example- TESCO is giving better customer services to retain and satisfying its customers.Company is also doing effective advertisement and promotions to attract potential customers.3. CLV consideration in the customer acquisition and retention processes and evaluate theircongruence.Customer lifetime value (CLV)- this theory determines the logical thinking of all thevalues a business will conclude from their whole relationship with customers. The customer's
(Solved) CRM Model of Tesco_3

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