Impact of Customer Relationship Management Assignment
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Added on 2021-01-03
Impact of Customer Relationship Management Assignment
Added on 2021-01-03
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TO REVIEW THE IMPACT OF CUSTOMERRELATIONSHIP MANAGEMENT PRACTICEON THE OVERALL SALES OF ANORGANIZATION: CASE STUDY OF AMAZONUK
ACKNOWLEDGEMENTFirstly, I would give thanks to my tutor for supporting me with the motivation to completethe project with success. Then I would like to special thanks in particular to mysupervisor and also to as well as, who provided their valuable guidance and helped meto patch this project. Their suggestions and instructions have served as majorcontribution in order to complete the project. I am so thankful to all those people whohave given me provision, guidance as well as much needed motivation so as tocomplete the current research study. This includes support from my team members,family and friends who helped me in all possible accords. This led to successfulcompletion of dissertation and achievement of relevant results. With all the supportgiven by these people who have immensely helped in developing my understanding andknowledge of the topic selected in the dissertation.
ABSTRACTConsumer relationship management will reflect benefits in raising the operationalidentity and gains for the long-term operations. In the present era, there has been rise inonline trading activities as it is more convenient to consumers. It impacts entities as perhaving increment in the revenue generation as well as gains for adequate control andprofit making.There will be influence of various thoughts which were being presentedby several authors. Moreover, out of such debates, there will be determination ofeffective conclusion. Thus, it will be helpful to the scholars in analysing current issuesand implication of CRM techniques, which will have positive impacts in enhancing theirknowledge. Research study will be based on various techniques and data set whichwere to be analysed and determined to have the appropriate solution to the researchissues. In the present study, in analysing the CRM approach to the operationalinfluences in Amazon there have been implication of various factors.In the presentstudy, interpretivism philosophy has been selected and analysed by the researcherwhich will aimed at facilitating the appropriate determination to the facts. There will beimplication of deductive approach which in turn represents a more reliable statementbased on the reviews of participants that will be helpful in drafting a logical answer. Inthe present study, there has been use of annual report of Amazon which consists of allthe details relevant with the profitability, liquidly as well as market value of the firm in thegiven period. Thus, it will consist of overall information regarding the performance of thisentity over the years. The fact in this report was determined that with a boost toconsumer relation while using different approaches and techniques proved to be boonfor the Amazon. This can be said that with a satisfied consumer a list of new consumersalso gets attached with mouth publicity and the same consumer also visits amazonagain for making the purchase and this lead to the fact of consumer retention.
TABLE OF CONTENTSCAHPTER 1: INTRODUCTION.........................................................................................11.1 Research Background.........................................................................................11.2 Organisational background.................................................................................11.3 Rationale.............................................................................................................21.4 Aim and Objectives.............................................................................................21.5 Statement of problems........................................................................................31.6 Research Questions............................................................................................31.7 Hypothesis...........................................................................................................31.8 Research Structure.............................................................................................4CHAPTER 2: LITERATURE REVIEW...............................................................................62.1 Introduction..........................................................................................................62.2 Concept of customer relationship management.................................................62.3 Theories and models of CRM approach.............................................................82.3.1 The IDIC Model............................................................................................92.3.2 Quality Competitiveness Index Model.......................................................112.3.3 CRM value chain Model.............................................................................122.3.4 The Forrester Model..................................................................................132.3.5 Conceptual Model......................................................................................132.3.6 The Payne's Five Forces Model................................................................142.4 Ways of Selling Smart Point Device to restaurant business.............................162.5 CRM in boosting sales volume of online industries..........................................182.6 Conceptual framework......................................................................................202.7 Conclusion of literature review..........................................................................20CHAPTER 3: RESEARCH METHODOLOGY.................................................................223.1 Introduction to research methodologies............................................................223.2 Research philosophy.........................................................................................223.3 Approach...........................................................................................................223.4 Design...............................................................................................................233.5 Data collection...................................................................................................243.6 Methods.............................................................................................................24
3.6.1 Descriptive analysis:..................................................................................243.6.2 Regression:................................................................................................253.6.3 Correlation coefficient:...............................................................................253.7 Data analysis.....................................................................................................253.8 Sampling methods.............................................................................................263.9 Reliability and validity........................................................................................263.10 Ethical consideration.......................................................................................273.11 Limitations.......................................................................................................283.12 Conclusion to research methodology..............................................................28CHAPTER 4: FINDINGS AND DISCUSSION.................................................................294.1 Introduction........................................................................................................294.2 Results...............................................................................................................314.2.1 Descriptive statistics:.................................................................................314.2.2 Regression.................................................................................................324.2.3 Correlation.................................................................................................364.3 Conclusion.........................................................................................................38CHAPTER 5: CONCLUSION AND RECOMMENDATIONS...........................................395.1 Conclusion.........................................................................................................395.2 Recommendations............................................................................................415.3 Further research methods.................................................................................415.4 Personal reflection.............................................................................................42REFERENCES................................................................................................................44
CAHPTER 1: INTRODUCTIONTo review the impact of customer relationship management practice on theoverall sales of an organization.1.1 Research BackgroundIn the present era, there has been rise in online trading activities as it is moreconvenient to consumers. It impacts entities as per having increment in the revenuegeneration as well as gains for adequate control and profit making. Present researchproject, there will be discussion based on Consumer relationship management inAmazon with influence of e-commerce. Moreover, this research will ascertain varioustrends and terms used for managing relationship with buyers in operations of anorganisation, which will be fruitful in context of resolving problems, bringingdedication of employees towards work practices. It will also help in bringingcomprehensive planning and executing professional activities.Along with this, research will be based on aim and various objectives that willhelp in bringing in-depth analysis of current issues. In addition, there will be use ofSPSS tool to have effective analysis on gathered data on Amazon from 2000 to2017. It will include various statistical tests such as descriptive statistics, T-test,Anova, Regression, correlation etc. Thus, it will analyse current consumerpreferences as well as strengths of business in meeting them. It will helpprofessionals in analysing preferences and developing relevant strategies inproducts, services, pricing as well as in promotional activities. The main motive of this research project is for analysing the ways to bringutmost consumer satisfaction. It will be help in determining current trends andprovokes the organisation in terms of bringing qualitative changes in work practices(O’Beirne and et.al., 2018). Moreover, there will be preparation of research structurewhich in turn benefits the researchers in developing framework and making properoperational control.1.2 Organisational backgroundAmazon is known as the best online retail organisation which have the highestmarket share in the world in e-commerce segmentation. The consumer retention ofthis business is comparatively higher than other competitors stated in the world.Currently, industry is operating in more than 45 countries which has reflected the1
higher growth of revenue since last decade. Moreover, as per analysis on the onlinebusiness of Amazon on which it can be said that, this has been dealing in variouskinds of products such as clothing, accessories, electric goods, food articles, booksas well as various household products (Beke, Eggers and Verhoef, 2018). The risingtrend in online segmentation of the business enhances the operational efficiencies ofthe organisation. Amazon itself known as the brand for various commodities and e-services.1.3 RationaleSignificance behind this research project will preformed on the basis ofanalysing current obstacles and issues faced by online businesses in recent times.Consumer relationship management is a prime requirement in every organisationwhich helps in developing better operational strength. Moreover, this research study,will bring accurate information regarding the implications of CRM system in businessas well as developing strategies for sound relationship with consumers. In consideration with operational practices of Amazon, it can be said that thereare various activities which are required to be considered for effective determinationof all operations. However, implicating this system as well as training employeesaccordingly will be adequate in bringing higher satisfaction and will result in risingsales volume of the firm (Casalo, Flavián and Ibanez-Sanchez, 2017). Moreover,there have been various issues which are associated with sales volume oforganisation due to dissatisfaction of buyers with prices, times frame as well asproduct quality. Thus, with respect to such issues, this research will help inidentifying such facts and drafting a valid solution to over-come with these obstacles.1.4 Aim and ObjectivesAim: To review the impact of customer relationship management practice on theoverall sales of an organization-case study of Amazon UK.Objectives:To explore the concept of customer relationship management for maintainingB2B relationship.To assess theories and models of CRM approachTo determine the ways in which Amazon UK, will sell Smart Point Device torestaurant businessTo derive use of CRM in boosting sales volume of Amazon UK2
1.5 Statement of problemsThe operational framework of Amazon must be considered which is mainlyknown as online business giant in the world. The implication of CRM system inorganisation is quiet mandatory for retaining the potential consumers on longerterms. However, there has been various obstacles which were being faced bybusiness in the recent time. Thus, these are mainly relevant with initiating andexecuting the CRM system as well as managing the wide spread business (8 CRMimplementation best practices, 2018). In addition, there are several issues which arerequired to be addressed by the professionals for better execution and managementof various operations. There are various issues which are the matter of main concern such as:Improper administration of sites as well as centralization of social mediainteractionsMode of making payments to all articles which were being bought byconsumersTime utilisation for transactions such as delivery and payments.Employees are unaware with CRM process and lacks to value the existingbuyers.Lack of right and accurate solutions to any trade relevant issues.Improper sales volume as well as revenue generation of the organisationwhich is affecting the financial health of organisation.1.6 Research QuestionsExplain the concept of customer relationship management?How customer relationship program helps Amazon, UK in boosting its salevolume?Describe the use of theories and models of CRM approach?1.7 HypothesisTo analyse impacts of CRM in financial or internal health of organisation, therewill be need of having effective analysing on the data set relevant with the businessand its consumer turnover. It will be consisting of various statistical tests such asAnova, T-test, Regression, Correlation etc. These tests will be accurate in contextwith drafting favourable recommendations based on CRM implication and growth of3
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