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Customer Relationship Management Assignment (CRM)

   

Added on  2020-01-07

16 Pages5248 Words582 Views
Customer RelationshipManagement

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1a) Key aspects of CRM...........................................................................................................1b) Benefits of CRM................................................................................................................2c) Impact of quality system on CRM.....................................................................................3d) Processes necessary to effective CRM...............................................................................3e) Role of internal staff in achieving effective CRM.............................................................4F) Role of external stakeholders in achieving effective CRM...............................................5BIBLIOGRAPHY............................................................................................................................6TASK 2............................................................................................................................................6a) How the loyalty schemes chose gain information about customers...................................6b) How the information gained informs marketing and customer service policy..................7BIBLIOGRAPHY............................................................................................................................9TASK 3............................................................................................................................................9a) Review of CRM in Tesco...................................................................................................9b) Proposed improvements to CRM processes.....................................................................10c) Proposed improvements to the role of staff in promoting customer relationships...........10d) Plan for the implementation of improvements.................................................................11BIBLIOGRAPHY..........................................................................................................................11CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13

INTRODUCTIONCustomers relationship management (CRM) is considered as a phenomenon that is usedby the organization to develop strategies, technologies and practices through customers areanalysed and managed. The ultimate goal of any organization is to gain maximum profit and thisis only possible when they will be able to satisfy their customers (Kishor and Nagamani, 2015).In this context, CRM helps the firm to understand their customers and provide them servicesaccordingly. This enables the firm to achieve their goals and objectives. The present report isabout understanding good practices related to “Customer relationship management”. This reportcovers ways through which business get benefited from effective CRM. Further, this reportcovers the role of loyalty schemes in CRM. TASK 1a) Key aspects of CRMCustomer relationship management determines the relationship of the enterprise withtheir buyers. It is a crucial element in which that system of CRM can be changed as per thepurpose of the business. If the organisation has good relations with its customer, then it will ableto compete in a better way in the market. There are several aspects of CRM and all are related toeach other. Below given are few of the aspects:Data analysis: This can be determined as the backbone of entire CRM system(Khodakarami and Chan, 2014). All the information related to customers is added up constantlyand this is combined with predictive analysis plan. Due to customer data analysis, the enterprisecan better plan its services and operations. In this way, a successful model of CRM can be builtcomprising of new marketing campaigns, new product development and new strategiesformation.For example, McDonalds conduct frequent research so as to know the preference ofcustomers and develop products and services as per their preferences. B2B relationship: Relationship between suppliers, distributors and partners is included inthis kind of relation. It is basically an external network that is engaged in serving internalnetwork. When relationship with suppliers for example is not effective, then it becomes difficultfor the business to operate in effective manner. Customer interaction channels: These are direct indicators for failure or success of modelrelated to CRM. However, it is important to monitor customer needs constantly. If a companyreceive few complaints from its customers via emails and calls, it shows that company has high1

satisfaction rate. For example, Hilton review their mails and work over the issues that are facedby customers so that strong relationship can be maintained.b) Benefits of CRMCRM is a system that assists to enhance relations with customers. It also includes findingprospective customers and retaining the existing customers. It is beneficial in terms of collecting,organising and managing information of the customers. Customers Relationship Management ishighly beneficial for the organization in many ways among which few are as follows:Improves information: CRM enables the organization to get information regarding theneeds and preferences of customers (Bedarkar, Pandita and Saini, 2016). Accordingly, they makechanges in the services and products with the help of which they can satisfy customers in future.For example, employees of Tesco make sure that all the issues that customers are conveyed andproper information is delivered to them. Enhances communication: When firm satisfies its customers, then this enables them todevelop a strong relationship with them. Therefore, it can be stated that loyalty is shown byregular service users towards the company.Improves customer service: When management better understands their customerproblems, then it will able to provide them with customized solutions. With CRM, managementget to identify the issues that customers face and appropriate steps are taken with the help ofcustomers service are improved. Increase customer revenues: With the help of using CRM strategy, the business is able toenhance their revenue easily. By collecting data, effective marketing campaigns could beformulated in order to promote products in the market so that it could reach out to the users.Customers are able to determine the better understanding about the type of services and productsthat are delivered to them by the firm and customer review increases.Optimize marketing: In order to focus on customer needs and behaviour, it is essential todemonstrate effective marketing campaign. With the help of marketing campaigns, the enterprisecan better communicate about its product and services to the customers. CRM is engaged incollecting data and information which could be utilized for the benefits of users. 2

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