Research Aim Aim:“ToassesstheeffectivenessofCRMinstrengtheningthe customer base: A study on Marks and Spencer”. The aim of current study will be to assess the effectiveness of customerrelationshipmanagement(CRM)instrengtheningthe customer base and gain competitive advantage in the market. It will provide an assistance in understanding the concept of CRM and evaluatethefactorsthatimpactthecustomerbuyingbehaviour (Chilisa, 2011). It will also provide learning about customer buying behaviour and its relationship with CRM. In order to meet the aim, working of Marks and Spencer will be considered as a critical aspect.
Research Objective In order to meet the aim of research, it is essential to focus on research objectives. Classification of the defined objectives is as follows: To analyze the concept and practice of CRM in the retail sector with special reference to Marks and Spencer. To determine the forces that influence relationship with consumer and help in gaining effective customer base. To assess the effectiveness of CRM in meeting the requirement of target market. To recommend ways to Marks and Spencer for practicing CRM in more efficient manner in order to boost the customer base.
RESEARCH METHODOLOGY In current report, the investigator will consider qualitative technique for assessing the effectiveness of CRM in strengthening the customer base. Current investigation will be conducted on the basis of interpretivist philosophy so that diverse factors of customer buying behaviour can be analysed in order to design effective CRM practices. In the current study, inductive approach will be considered by the researcher for data collection. Primary and secondary data collection methods will be referred for completion of the study. Moreover, the sampling for current research will be 5 managers of Marks and Spencer.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Theme 1. Does your organisation focuses on CRM practices YesNo 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 Does your organisation focuses on CRM practices Column B
Theme 2. CRM allows to attain information about customer needs and requirements Strongly agree Agree Neutral Disagree Strongly Disagree 00.511.522.5 CRM allows to attain information about customer needs and requirements Column B
Theme 3. CRM helps in building strong relationship with customers 20% 40% 20% 20% CRM helps in building strong relationship with customers Strongly agree Agree Neutral Disagree Strongly Disagree
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Theme 4. CRM practice of Marks and Spencer increases sales of products and services 60% 40% CRM practice of Marks and Spencer increases sales of products and services Yes No
Theme 5. Relationships with customers are given great value in your organization YesNo 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 Relationships with customers are given great value in your organization Column B
Theme 6. What do you feel about the company’s promotional activities of attracting new customers and retaining old ones Extreme good Good Improvement required 00.511.522.5 What do you feel about the company’s promotional activities of attracting new customers and retaining old ones Column B
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
Theme 7. How useful is CRM from business performance perspective 60%20% 20% How useful is CRM from business performance perspective Extreme Very Moderately Slightly
Theme 8. How often you collect data through CRM 20% 60% 20% How often you collect data through CRM Yearly Monthly weekly
Recommendation Effective tracking system can be improved to understand the effectivenessoftheCRMandsalesservices.Moreover, training and development program can also be organized for enhancement in the CRM practices. Study on technological changes in regard to CRM is also beneficial to interpret the CRM techniques. It will assist in effective use of various technological tools that can enhance effectiveness of CRM.
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
Conclusion Moreover, the above statements also concluded that the CRM plays vital role in strengthening the customer base of Marks and Spencer. It has been identified that there are number of CRM techniques that organizationusesforcontinuousimprovementinsales.Italso facilitates in building strong relationship with customers. It is also evident that CRM allows business to attain information about customer needs and requirements. In addition to this, customer buying behaviour also need to be considered as critical factor because it influences the CRM practices in diverse manner. It is essential for designing of tools and activities as per evaluation of clients needs and requirements. It leads business to impressivelevelofsuccess.Ithasbeenfoundthatcompany's promotional activities is playing key role in success of Marks and Spencer.
References Buttle, F., 2009.Customer relationship management: concepts and technologies. Routledge. Cooper, D.R., 2006.Business research methods.Sage. Jiang, P. and Rosenbloom, B., 2015. Customer intention to return online:priceperception,attribute-levelperformance,and satisfactionunfoldingovertime.EuropeanJournalof Marketing.39(½). pp.150–174.