Customer Relationship Management (CRM) Systems PDF
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Added on 2020-12-09
Customer Relationship Management (CRM) Systems PDF
Added on 2020-12-09
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“An analysis of how UK trade bodies canmaximize working process and profitsthrough the implementation of a CRMsystem” - A study on Design BusinessAssociation (DBA)”
Executive SummaryMost generally accepted classification of Customer Relationship Management (CRM)systems consists analytical, operational, e-CRM and collaborative. While collaborative,operational and e-CRM has obtained an important interest among the scholars and practitionersbut most of them neglect analytical Customer Relationship Management. The main functionanalytical CRM is to assist in strategic customer knowledge acquisition and customerinformation provision. It helps in achieving the main aim or goal of CRM which is to increasesales and customer profitability. This research study focuses on examining the role of CustomerRelationship Management CRM in maximising work processes and profit in context to DesignBusiness Association (DBA), the trade association of the design industry. DBA symbolizes avibrant group of designs driven businesses and designs consultancies. In order to achieve theaim and objective of the research various tools, methods and theories are applied. The majorfocus of this thesis is to identify various problems faced by DBA and the impact of implementingCRM in the company. The report concludes and determine that CRM technology can help anorganisation to improve its business functions, increase customers and enhance the profit of thebusiness. Systematic data collection method is used to collect and analyse relevant data related tothe topic of the research study.
Table of ContentsCHAPTER 1: INTRODUCTION....................................................................................................11.1 Background of the study ..................................................................................................11.2 Research aims and objectives ..........................................................................................21.3 Rationale of the study.......................................................................................................31.4 Framework and Analysis .................................................................................................31.5 Research structure............................................................................................................4CHAPTER 2: LITERATURE REVIEW.........................................................................................62.1 Introduction .....................................................................................................................62.2 Concept of Customer Relationship Management (CRM) ...............................................62.3 Importance of CRM in a business or organisation ..........................................................82.4 Significance of CRM in building customer relationship..................................................92.5 Impact of CRM on the process and profitability............................................................112.6 Conclusion......................................................................................................................13CHAPTER 3: RESEARCH METHODOLOGY...........................................................................143.1 Introduction....................................................................................................................143.2 Research Philosophy......................................................................................................143.3 Research Approach.........................................................................................................143.4 Research Design.............................................................................................................153.5 Research Strategy...........................................................................................................153.6 Data Collection...............................................................................................................153.7 Sampling.........................................................................................................................163.8 Data Analysis..................................................................................................................163.9 Ethical Considerations....................................................................................................173.10 Research Limitations....................................................................................................17CHAPTER 4: DATA ANALYSIS AND FINDINGS...................................................................184.1 Introduction....................................................................................................................184.2 Analysis of primary data................................................................................................184.3 Findings..........................................................................................................................274.4 Conclusion......................................................................................................................29CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...................................................305.1 Conclusion......................................................................................................................305.2 Recommendations..........................................................................................................32REFERENCES..............................................................................................................................34APPENDIX I.................................................................................................................................36Questionnaire.................................................................................................................................36
CHAPTER 1: INTRODUCTION1.1 Background of the study Design Business Association (DBA) was established in the year 1986. It is a successfulcompany that support transformation power of design, promotion of economic and strategicvalue to government and business. The industry's trade association DBA symbolizes communityof designs driven business and design consultancies. Design Business Association is a strongrepresentative body which focuses on assisting businesses of their members. These members arecommitted to form a positive future for all those who are working in the design industry andpassionate to bring business and design together for delivering the most desirable outcomes.In the present business environment, there is high competition in each and every industryor sector. Customer relationship management (CRM) refers to the best practices, strategies andmethods a business or organization can utilize in order to nurture potential and existing customerrelationships. Furthermore, it has been defined that customer relationship managementdistinguishes a management philosophy that is an absolute orientation of the organisationtowards existing and expected customer relationships. It also consists of each and everyinformation important to maintain these connections, documents and information that areessential to develop overall customer content. Customer relationship management (CRM) has been defined as a business approach ortheory that incorporates process, people and technology which helps in increasing relationshipswith customers. It is beneficial for a business or organisation to implement customer relationshipmanagement as it helps a company to develop a strong relationship with their customers. Thisrelationship further supports the organization to increase their sales and profit. There are variousstudies related to the impact of CRM on a business which focuses on various areas of anorganisation and have different conclusion. Although, it is mostly believed and supported bymany researchers that CRM system has positive impacts on a business or organisation. There arevarious benefits of Customer Relationship Management such as - Effective management of time – Every business or organisation has time managementsolutions but CRM is the best among all. A customer relationship management systemcan show the company a general overview of what the organisation is working on, howmuch time is utilized on a specific project till date and it also helps in prioritizing theprojects on which it should work next.1
Understanding the clients or customers – A CRM system helps an organisation to accessa huge amount of information and time-lines related to customers. It allows a company tooptimize its marketing activities related around psycho-graphics, demographics andmicro moments. All this data or information assists in opening the opportunities to up-sellcustomers on particular services or products on the basis of information collected throughCRM system. Improve customer relationship – Customer relationship management system helps inimproving relationship between business and customers. It helps in setting the taskswhich allows company to stay connected with existing customers. Customer relationship management therefore plays an important role in any company orbusiness because failure or success of a business totally depends upon the relations withcustomers. An effective management of customers helps a business to focus on everystreamlining and open all sales activities within a company. A business or organisation can selectCRM software according to their choice of application and needs. It provides an organisationreal time access to information and details of each and every activity to make sure the best returnor outcome of investment made by company. The present research will determine the impact of customer relationship management onfunctions, sales and customer profitability on an organisation. . It is essential to identify theimpact of customer relationship management on sales, functions and customer profitability on abusiness and it can be done through various theories and tools of research study. 1.2 Research aims and objectives Aim - “To analyse the effect of implementation of CRM system on maximizing workingprocess and profits”ObjectivesTo identify the importance of CRM in Design Business AssociationTo determine the significance of CRM in building customer relationship at the DesignBusiness AssociationTo examine impact of CRM on the process and profitability of DBA To provide appropriate recommendations for using CRM in DBA effectively. 2
1.3 Rationale of the studyIn the current competitive environment, it is essential for each and every business ororganisation to build a strong relationship with the customers by implementing different tools orstrategies. Many companies and businesses are using Customer Relationship Management(CRM) to connect with customers, understand their needs and provide the most appropriateproducts or services to them. This tool related to digital technology also helps in increasing thesales and profitability of an organisation. Therefore, it is essential to understand impact of CRMon business processes, customers and profitability of the trade body or association DBA. Main reason for choosing DBA for this research is that it is growing organisation and itdeals with various business rather than ordinary customers in the market. This research study canhelp in identify various business which care linked with DBA and help it to sustain in thecompetitive market. Company works in a competitive market due to which it is important toidentify the impact of CRM, its performance and competitiveness. In order to examine overalleffect of customer relationship management, this research topic has been chosen. It is essential toapply various research methodologies, theories and tools such as questionnaire interview methodfor data collection, literature review, books and articles to achieve the most relevant outcomes orresults. These research tools are very useful in order to direct the research study, collect mostappropriate information useful for achieving research outcomes and identify appropriaterecommendations for using CRM effectively within an organisation. 1.4 Framework and Analysis Framework and analysis of research is very crucial and important as it supports theresearcher in obtaining research aim and objectives (Kumar and Reinartz, 2018) . In the presentreport, researcher will use quantitative method to collect and analyse data or information.Quantitative method is selected as it is helpful for collecting statistical data which is morereliable and assist in analysing data effectively (Lyon, Mšllering and Saunders, 2015).Researcher will use primary data and information collected from a sample of employees workingin Design Business Association. Primary data is fresh and specific, it can be collected directlyfrom the sources which can be essential in obtaining more relevant outcomes. The secondarydata related to chosen topic is very limited therefore researcher preferred primary data collectionin this examination. Main targets of a framework is to collect the most relevant and significant3
information related to a research topic or subject. The collected data or information is furtheranalysed in order to obtain the most appropriate research outcomes. 1.5 Research structureFor achieving aim or objectives of a research effectively and easily, it is significant forresearcher to use an ordered structure or steps to complete the investigation. There are differentchapters which are developed in this research study as described below - Chapter 1: Introduction This chapter is an introductory part of the dissertation which helps readers or viewers tounderstand subject of this study. Researcher has used various tools of research along with areascovering research methodologies, literature review, data collection and analysis to identify thevarious impacts of customer relationship management on DBA (Design Business association). Chapter 2: Literature review Historical investigation related to this subject of research will be included within theliterature review chapter. Most of the information is collected by books and articles related tocustomer relationship management. The literature review concluded that CRM is an importantpart of every business which helps in retaining as well as attracting new customers. Chapter 3: Research Methodology This chapter consist data and information with regards to different methods which canhelp researcher in completing the examination. Various research methodologies have beenapplied in the present research including inductive research approach, quantitative data collectionetc. The research methodologies are applied with respect to the nature and importance ofresearch topic. Chapter 4: Data examination This chapter of the research will include data collection, analysis and interpretation aftercollecting the facts from employees working in DBA. Researcher has used interview method forcollecting relevant information from the employees working in DBA. In order to conduct thisinterview, an effective questionnaire is developed by researcher consisting various questionsrelated to customer relationship management and its impact. The data is examined to getappropriate results or outcomes and then interpretation has been made to communicate itproperly and developing meaningful conclusion for current investigation. Chapter 5: Conclusion and recommendations 4
This is the last section of research which concludes that customer relationshipmanagement is very essential for each and every business for retaining and attracting customers.This approach helps DBA to improve market position of their company and ensure increase inproficiency of the business. This chapter will also include various recommendations relateduseful for DBA in using CRM system in an effective manner. 5
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