Customer Relationship Management Project

This project examines the Customer Relationship Management (CRM) strategy of B&M European Value Retail S.A., a leading variety retailer in the UK. It includes a SWOT analysis, identifying strengths, weaknesses, opportunities, and threats. The project then proposes a new clothing segment and target customer for CRM activities, outlining key principles and a comprehensive CRM strategy to attract and retain customers in this new market. Desklib provides past papers and solved assignments for students.

Customer Relationship
Management
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Table of Contents
1. INTRODUCTION.......................................................................................................................1
2. Discussing significance of project...........................................................................................2
TASK 3............................................................................................................................................3
3. Conduct SWOT Analysis of B&M European Value Retail S.A. ...........................................3
TASK 4............................................................................................................................................6
a) Assess key principles of the business. Propose new segment and target
customers for CRM activities.....................................................................................................6
b) Communicate effective CRM strategy based on the proposed
segment/targeted customer..........................................................................................................9
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
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1. INTRODUCTION
Customer Relationship Management is an effective way or approach to manage relations
with the potential customers and new one as well. In present scenario, CRM has been important
part of the company so as to maintain perfect relationship with consumers so as to enlarge
customer base and enhance their commitment and loyalty towards the brand. Present report deals
with B & M retail company which is engaged in retail sector has been providing enhanced
services to the customers in the best possible manner. It is one of the fastest growing retailers in
the UK with enhanced growth in terms of infrastructural facilities such as shops or stores which
are consistently expanding in short time. Furthermore, revenue is increased in past several years.
The customer base is also enlarging as more than 3 million on per week basis come for shopping
at high street and home stores leading to expansion of customers, revenue and overall
enlargement of market share.
The company was founded by Malcolm Billington and first store was opened in
Cleveleys, Lancashire, UK in the year 1978. After it, organisation was acquired by Simon and
Bobby Arora in 2004 financial year. In 2006, significant growth was observed and acquisition of
GlynWebb chain of DIY stores was made and conversion of B & M into Home-store format was
made. In further years, good quantum of growth had been attained leading to the fastest growing
retail business in the UK. The business has various chain of operations such as baby toys and
games, furniture, home living items, electronic commodities. Moreover, health and beauty,
clothing segment, stationery, gardening and summer products are being made available to
customers to effectively maintain relationship with them.
Moreover, CRM methodology is useful for retaining customers. Data analysis from
various sources such as website of firm, email, marketing essentials and social media channels
are collected and integrated in that manner which is useful for business in catering needs and
demands of customers so as to enhance customer satisfaction in the best possible manner. Hence,
target audiences are met in effective manner. In present report, importance of CRM in B & M
and current status of the company is evaluated in a better way. Along with it, SWOT analysis of
organisation. Critical analysis of principles and current marketing strategy is being assessed.
Furthermore, proposal of new target market and segment of customers and segmentation strategy
is outlined.
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CRM methods are used in modern marketing context and to enhance current CRM
strategy so as to enlarge customer base and provide better products and services to them. It can
be said that B & M which is the fastest growing retail company has to empower more
functionalities so that consumers may be satisfied in effective way and sales are increased up to a
major extent. Seeking financial performance of firm, sales revenue was 2430660 in 2016 and
increased to 3029802 in next year. Gross profit was 84436 in 2017 and reached to 1028875. This
has positive impact on net profit for the period as well because it was 144033 in 2016 and
increased to 185805 in recent year 2017. This highlights that company has better performance
and net income is increasing which is a good sign as profits are maximising and customers are
becoming loyal towards it. Hence, CRM is required in company so that relationship with target
customers may be enhanced leading to better overall growth.
2. Discussing significance of project
The main objective behind this methodology is to enhance overall performance of the
organisation so that it may be able to garner more customer base leading to increase profits in
effective manner. Furthermore, it is required that profits are maximised and as such, customer
satisfaction is essential in this aspect. B & M organisation has effective current status of CRM as
it likes to retain customers in the best possible manner. CRM has immense benefits because it
helps to effectively attain customers and maximise level of satisfaction. Segmentation is the main
element of CRM as information is gathered that includes preferences, demands etc. This help to
customise customers in relation to their preferences and hence, target market is formed with
much ease. The strategies can be deployed in that manner which fulfils customer requirement
and their tastes can be judged leading to better relationship with them (Markgraph. 2018).
Promotions is made in the target market which are appealing to consumers. This means
that B & M company provides services to the customers in accordance to their needs. Classic
example is that organisation sells toys and games to consumers and children get attracted
towards it and parents buy the same. Another example is that if any particular product is viewed
by customers, next time, discounts can be provided and mails can be made to them offering
discounts and thus, promotions may be achieved in a better way. The website of company has to
regularly updated so as to track customer likings and products regularly viewed by them.
Thereby, promoting them and attaining desired profits (Agnihotri, Dingus, Hu and Krush, 2016).
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The CRM system of B & M tracks records of each and every purchases made by
customers leading to have valuable piece of information. The service calls made by customers
regarding issues related to products are recorded as well. This helps to remove deficiencies if any
when customer has dissatisfaction with commodities. In addition to this, improvement can be
done to remove the same in effectual way (Arnold, 2017). On the other hand, special offers are
given on products purchased by them so that in the future, if they want to purchase can avail the
same. Thus, leading to maximisation in customer satisfaction. Thus, it can be said that B & M is
chosen in the current project as it has deployed good CRM system in order to retain customers
and achieving profits leading to enhanced level of satisfaction of customers. Hence, it is
performing well and CRM data will be helpful in accomplishing desired goals quite effectually
(.Ascarza, Ebbes, Netzer and Danielson, 2017).
Value chain model: This model helps a company to focus on the system and the
activities such that it also comprises many activities which are as mentioned below:
Inbound logistics: This process are involved in receiving and storing and internal
distribution and the quoted firm is also have many suppliers who help a business to run at further
level of success.
Production: The firm also have a good and efficient system of production level which
helps a business to produces best input and output.
Outbound logistics: This also involves the delivery system and have enough storage as
well as distribution system that makes it different.
Marketing and sales: In it, the company have a good variety of promotional tools that
helps to promote their business at further level of success.
Service: The company also provide best services to their customers in order to meet out
the demands. Therefore, it also have good relationship with their customers by offering the best
quality of services to their customers.
TASK 3.
3. Conduct SWOT Analysis of B&M European Value Retail S.A.
B&M European Retail Value S.A was established in year 1978. It is one of the leading
variety retailers in United Kingdom. The company maintains a prominent position in retailing
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sector of UK. SWOT Analysis is a effective tool to measure the current performance and
operations of B&M European Retail: Strength:
◦ Skilled Workforce: B&M has highly competent staff that provides excellent services
to their consumers. Company is investing huge resources in training and development
of their existing and current employees. This results in generating highly skilled and
motivated workforce.
◦ Strong Distribution Network: Company has built a strong and effective distribution
network. B&M has made strong network of 560 stores that can reach majority of its
current and potential customers.
◦ Brand Image: Company has spent huge some of money in developing strong brand
perception. This enables B&M to successfully launched it new items into market.
◦ Strong marketing Strategies: B&M has developed a new and competent marketing
strategies to attract consumers. It has implemented certain strategies to promote their
products like, Go To Market Strategies (Badwan, Al Shobaki, Naser and Amuna,
2017).
◦ Successful Market Penetration: B&M has expertise in entering into new markets and
generating good amount of revenue. Expansion of company has paved way for
building new profit stream and diversify its operation.
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 Weakness:
◦ Low Investment: Company is spending less amount in Research &Development as
compare to other rivalry within retail industry. B&M is not able to beat its competitor
in market.
◦ Fixed Price: There is a fixed price mechanism within retail sector this reduce down
the pricing flexibility of firm. B&m cannot charge above the industry price as it result
in loosing customers (Bhat and Darzi, 2016).
◦ High Attrition Rate: B&m is facing high attrition rate which means company
personnel are leaving the jobs and Firm is unable to hire substitute for the same.
B&M European Retail has to spend a lot of money on improvising its training and
development programme.
◦ Poor Financial Planning: The current asset and Liquid ratio of company suggest that
there are lot of chances for companies improvement and it has opportunity to use cash
more effectively. This implies that the financial planning of company is not done
efficiently and effectively.
◦ Limited success outside core business: B&M is a leading brand within retail sector.
Company faces challenges in shifting to other product segments with its present
organisation culture.
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Illustration 1: SWOT Analysis

◦ Poor forecasting: B&M is not competent enough in product demanding and
forecasting. Company misses many chances of opportunities for business expansion.
This end up in keeping high inventory both in-house and in-channel (Goddard,
2016). Opportunities:
◦ Emerging Markets: The opening of new market due to government agreement.
B&M European Retail had chances of adoption of new technology.
◦ Low Inflation Rate: The lower inflation rate generates more income and stability in
market. Further, B&M European Retail can enable credit at lower interest rate to their
consumers.
◦ Benefits of Brexit: Company can benefited from Brexit as it will help B&M
European Retail to enter into new markets and benefited from increasing consumer
demands. Further, it will benefit company in taxation policy and generates more
revenue (Krishna and Ravi, 2016).
◦ Building E-commerce business: To expand business and to reach to more customers
across the globe B&M European Retail Should build up a strong E-commerce
network. This would enable company to earn more revenue and build strong
consumer base.
◦ Product Diversification: B&M European Retail must diversified its product range to
attract more consumers towards their products. It must increase offer range to become
a one stop shop for all customer requirements.
◦ Benefits from decreasing cost of Transportation: B&M European retail can benefit
form decreasing cost of transportation as ship prices are getting lower. This provides
opportunity to company to boost its profitability and provide consumers with a high
quality product at lower prices. Threats:
◦ Rising Competition: B&M European Retail faces rising competition within retail
sector in United Kingdom. It faces tough competition from single pricing retailers
who lowers the prices of products.
◦ High Switching Cost: Retail industry within United Kingdom faces a serious threat
of customer switch. There are large number of companies who provides wide range of
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similar products at lower or similar prices. This creates a threat as customer can
switch to other firms if the same item/product is offered at lower price.
◦ Harsh Impact of Brexit: B&M European Retail faces harsh impacts of Brexit as the
economy of United Kingdom is not stable and there are large political changes due to
Brexit (Kumar and Reinartz, 2018).
◦ Change in Consumer Buying Behaviour: There is a great change in buying
behaviour of consumer. Company sees a substantial shift of consumer to brcik and
mortar shop to online channel.
◦ Fast Changing Marketing Strategies: B&M European Retail needs to developed it
marketing techniques to attract more consumers to their products. Company needs to
adopt new ideas and advertising channel to promote their products (Navimipour and
Soltani, 2016).
TASK 4.
a) Assess key principles of the business. Propose new segment and target customers for CRM
activities.
The B&M European Retail needs to diversify its products in order to increase consumer
base. Company must focus and developed its Customer Relationship Management. In
formulating a new segment and target consumer markets we include these key principles of
business which are; Segmentation, Product, Pricing, Distribution, Targeting the
customer and Positioning. A new plan for B&M European Retail is as follows:
Current goals of B&M European Retail: Company needs to build a strong Customer
Relationship Management. The focus of B&M European Retail is to build a new market segment
i.e. Clothing Segment and modified it targeting strategies. To introduce new segments company
needs to understand Customer goals and build a strong customer relationship. B&M European
Retail must evaluate these key principles. Segmentation:The company needs to create market segmentation for their new clothing
segment:
◦ Geographic: It divides market on basis of location i.e. City, Country and Region.
Further, B&M European Retail can divided it market segments into urban, Suburban
and rural markets. This will help company to easily understand the preferences of
consumers located at different location.
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◦ Demographic: This involves segmenting target market on basis of Age, Gender,
Religion, Income, Ethnicity and Education. This will help company to formulate
plans on basis of demographic characteristics. It will ease the problem of B&M
European Retail of introducing it new segment (Nyadzayo and Khajehzadeh, 2016).
◦ Psycho Graphic Segmentation: The market within this segmentation is divide on
basis of interests, lifestyles, values and attitudes. Grouping or segmenting on basis of
natural liking categories will help B&M European Retail to identify which groups are
most feasible for different types of clothing range offered by B&M European Retail.
◦ Behavioural Segmentation: It divides market by purchasing behaviour . This
segment includes benefits gained, degree of loyalty and rate of use. This helps B&M
European Retail to identify opportunities within clothing segments and purchasing
behaviour of its targeted consumers. Product: B&M European Retail will launch different types of clothing item for their
target consumers. Company will introduce different range of clothes for different target
consumers. It will introduce comfortable clothes like t-shirts, jeans and sportswear for all
age and gender groups. B&M European Retail will introduce formal shirts and T-shirts
for men. Further, company will sell women apparels which will includes shorts, long
skirts, and formal office going dresses. There will be a kid section offering wide range of
kids apparels like, frock, t-shirts, jeans, trousers and shirts. B&M European Retail will
launch unique and trending collection for their young consumer market. Company has
decided to upgrade it clothing segment to latest trends for their young customers. B&M
European Retail will includes seasonal clothes like; Overcoats or anoraks for cold
weather of United Kingdom. Pricing: B&M European Retail can choose different pricing strategies for their clothing
segments these are as follows:
◦ Penetration Pricing: In this strategy B&M European Retail will enter market with
super-low prices for its product. The aim of this pricing strategy is to attract as many
as customer possible to buy products of B&M European Retail. This form of pricing
strategy help company to prevent competition. It will prove beneficial to B&M
European Retail for its new segments as company is new within clothing industry.
Further, it will attract potential buyers from different target groups.
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◦ Budget Pricing Strategies: B&M European Retail must adopt this strategy. As many
consumers seek low prices when shopping for apparel. Customers within this
segments are willing to sacrifice quality for affordability and are not loyal to any
particular brand. Distribution: A distribution channel refers to a chain of businesses or intermediaries
through which products/services reaches to ultimate consumers. B&M European Retail
can sell it clothing items through it long chain of stores. It can introduce a new section a
different supermarket which are owned and run by B&M European Retail. This will help
to reduce cost of building a new store for clothing section. It will enable company to
attract consumers for purchasing companies clothes. Thus, firm must take advantage of
its strong distribution network. Further, company can introduce their clothing brand over
online platforms. These platforms provide great opportunities for B&M European Retail
to expand their business. Firm can promote its brand over social media sites like;
Facebook, Twitter, Instagram about their clothes (Wynn, Turner, Banik and Duckworth,
2016). Targeting the
customer: To target different segments of customer B&M European Retail needs to develop a
process. This will includes following thing i.e.:
◦ Conduct a research for target audience: B&M European Retail needs to conduct a
research prior to launch. It will include understanding basic target audience. For
example; Which is the target market and who all are included within them. B&M
European Retail target diversed population of Europe and includes all types of
consumer i.e.; Men, Women and Kids. This is a continuous process and company
needs to evaluate it on time to time for understanding needs and preferences of their
consumers (Ptak and Schragenheim, 2016).
◦ Evaluate factors that affects target audience: B&M European Retail needs to evaluate
factors which affects target markets i.e.; price, current trends, change in needs and
preferences, etc. It will help to better understand target market and reduces chances of
risk and loss. Positioning: B&M European Retail has acquired strong brand image within Europe.
Company shall adopt strong positioning strategy to place it new clothing brand within
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consumers. B&M European Retail should adopt effective promotion tools for attracting
consumers to purchase within new segment of firm. It should make effective utilisation of
it brand image (Raab, Ajami and Goddard, 2016).
b) Communicate effective CRM strategy based on the proposed segment/targeted customer.
Customer Relationship Management is a process which is followed by an organisation. It
is a strategy for managing a company relationship and interactions with potential and current
consumers. B&M European Retail needs to build a CRM strategy for introducing their new
segments within market in relation to their chosen target segment. Develop a goal: Company needs to develop or formulate a specific objective or goal.
B&M European Retail objective of developing CRM strategy is to promote and expand it
new product segment i.e. clothing brand within their target consumers. Behavioural Analysis: Company needs to effectively analysis their goals. It needs to
understand the total purchasing power and patterns which is associated behaviours of
target consumers. This helps in understanding buying behaviour of customers and their
response to new products (Rahimi and Gunlu, 2016). Identifying Customer relationship: It is important to understand importance of customer
relationship. It includes marketing communications, sales support, technical assistance
and customer services. To measure relationship B&M European Retail needs to evaluate
degree of customer satisfaction through buying cycle and following receipt of goods or
services. This will help firm to analyse that how to maintain strong relationship with
their target market. Build strong Communication: It is essential to build a strong communication network.
As, technology continues to strip down the communication barriers between companies
and their customer interactions. Thus, B&M European Retail needs to build a effective
communication process so that they don't end up loosing customers. Interact with employees: To effectively implement each plans within organisation
employees plays a key role. It is important to engaged employees at each step of the
strategic process. This will result in positive change within attitude of employees as they
will work harder in achieving company objectives and further, help to build
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confidentiality of important data. Adopting this strategy B&M European Retail will be
benefit as invested employees will be better able to integrate new policies and
technologies in a way which is beneficial to whole B&M European Retail (Soltani and
Navimipour, 2016).
 Build a channel Strategy: This involves certain steps which are:
◦ Aligned the internal sales, marketing and operational teams with objectives of B&M
European retail to build a effective channel. This will help in understanding an
evaluating that revenue targets which is set by B&M European Retail clothing sector
can be supported with available marketing material or capacity resources.
◦ Company must simplify the on boarding process so that new employees can easily
adjusted to existing organisation culture and this will reduce efforts and time spend
by B&M European Retail over new recruits.◦ B&M European Retail must developed a strong content to be publicised in relation to
their new product. It should properly evaluate what messages they would like to show
and to who and where. Create an effective experience:It refers to interactions between consumers and
organisation throughout their business relationship. In order to create an effective
experience for their customers B&M European Retail needs to build an emotional
connection with their existing customers. It can achieved this by employing competent
staff that creates an emotional connection with their consumers. It will help to attract
more consumers to avail the product of B&M European Retail.
 Retain and Attract Valuable customers: It is important for company to maintain their
valuable customers. This will generate more revenue and income to firm. B&M European
Retail can achieved the same by focusing CRM deployment on high-value customers.
Company can attracts their valuable consumers by contacting them on regular basis.
Provide consumers with toll free numbers and priority services. This will help customers
within B&M European Retail to become more valuable in order to achieve elite status
(Tseng, 2016).
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 Maintain Good Public Relation: Company must maintain a positive and effective public
relation. This involves maintaining a positive image of business entity within industry
with different channels, i.e.; Media, Local Community, Government, Employees, etc. A
positive and clean image of company will impact more customers rather-than paid
advertising messages. B&M European Retail will be benefited with positive public
relation as firm can attach credibility to their product. Further, effective public relation
will enable B&M European Retail to effectively reached to its targeted market. Use of Social Media: To operate effectively company must developed it presences over
Social Media platform. B&M European Retail do not neglect the importance of online
platforms. The target consumers of B&M European Retail includes Young consumers,
thus, it becomes more important for company to spend little time on social media sites
and developed an effective platform for their products. B&M European Retail must put a
little effort on sites like, Facebook, Instagram, twitter and You Tube to attract and retain
their customers (Wang, Cavusoglu and Deng, 2016). Build a Strong Feedback Mechanism: To maintain brand loyalty and retain customers
company needs to build a strong mechanism for collecting and reviewing their progress.
It can achieved this purpose only by adapting a sound feedback mechanism. This includes
responding to every queries of customers. It means B&M European Retail should trained
their employees to respond to every E-mail, tweets, comments over Facebook and
complaints over phone. Further, firm needs to take in account the complaints and queries.
Often, complaints are regarded as negative comments but to improved the quality
management B&M European Retail must take in account the each complaints as it will
help company to understand it loop holes and current trends within market (Wang and
Kim, 2017).
 Evaluate and Improve: In order to be successful company must evaluate their operations
and performance time to time. Firm should evaluate each Customer Relationship
Management strategy it implements. It should evaluate it pros and cons. This will help
B&M European Retail to reduce chances of duplication and errors. It will help in
achieving strong customer relation in a cost effective manner. Further, it will help to
explore the chances of threats and opportunities prevailing within retail industry. By
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evaluating and analysing CRM approach for new segment and target market of B&M
European Retail will help in providing chances to improvised.
Benefits of using CRM: The biggest advantage of using Crm by the firm is such that it
helps to improve the customer satisfaction and also deals with many services such as it helps to
sell the products and services to the customers. On the other side, it also helps to improve the
informational of an organization. Such that high quality of customers relation management is
another tool that helps to run a business at further level of success. It also improve the customer
services which is another benefit of using CRM.
CONCLUSION
This reports concludes that Customer Relationship Management is essential for every
business. It generates opportunity for business to maintain strong customer relationship with its
existing and potential customers. Company cannot neglect the importance of CRM approach in
successful operations of their business. The report shows that how B&M European Retail uses
Customer Relationship Management to enhances it consumer relationship. Company uses CRM
approach to track records f each and every purchase made by their customers. It uses this
techniques for placing its products within their industry. Further, report shows what are Strength,
Weakness , opportunities and Threats are poses by B&M European Retail. Company has strong
distribution network. It owns 560 stores across UK and Europe.
B&M European Retail has opportunity to expand its business within United Kingdom
and other parts of Europe. But, firm faces certain serious threats like, increasing competition,
product substitution and Harsh impact of Brexit. Further, it disuses about the new target segment
i.e. clothing segment. B&M European Retail has established a new venture within their retail
supermarkets. It shows how customers are targeted what products it will offer to their targeted
consumers. Lastly, it shows the uses of effective CRM strategy to attract target consumers within
their new segments.
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