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PDF | Strategic Business Project

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STRATEGIC BUSINESSPROJECT
Table of ContentsTitle..................................................................................................................................................1INTRODUCTION...........................................................................................................................1Aim.........................................................................................................................................3Objectives...............................................................................................................................3Question..................................................................................................................................3Rationale of study...................................................................................................................3Significance of Study.............................................................................................................3LITERATURE REVIEW................................................................................................................4Terminology of customer relationship management..............................................................4Theories and Models of CRM approach................................................................................5CRM in boosting sales volume of Amazon UK.....................................................................6RESEARCH METHODOLOGY.....................................................................................................7Research philosophy...............................................................................................................7Research approach..................................................................................................................8Sampling.................................................................................................................................8Data Collection.......................................................................................................................8Data Analysis..........................................................................................................................9Ethical consideration..............................................................................................................9Reliability and Validity..........................................................................................................9Time Plan..............................................................................................................................10CONCLUSION..............................................................................................................................13REFERENCES..............................................................................................................................14
Title“To review the impact of customer relationship management practice on the overall sales of anorganisation: case study of Amazon UK”.INTRODUCTIONCustomer relationship management is the core function which helps an organisation inmanaging successful business functions. It is the management system where the responsibility offirm is to focus on maintaining effective relationship with buyers (Tseng and Wu, 2014).However, deriving relationship with buyers is the most effective plan for attaining their view onproducts and services. It is the best strategy which assists in managing cost effectiveness andminimizing waste (Neuman and Robson, 2012). CRM is an approach that helps the firm ininteracting and communicating with its potential buyers to analyse their needs and wants inaccordance with changing market trends.1
Apparently, it is important for organisations to manage effective interaction with buyersbecause it helps in evaluating needs for changes and for bringing innovation in its products andservices. The approach is based on ethics, set of rules and guidelines that needs to be followed atthe time of communicating with customers (Kumar and Reinartz, 2018). The approach is used bymany organisations because it assists in forecasting consumer trends and managingappropriateness in service related processes.This research will focus on analysing impact of CRM practices in boosting sales ofAmazon UK. Amazon is an international online retailer who deals in differentiation productssuch as home and decor, electric appliance, books, apparels, baby products, kids wear, skin care,fragrances etc. The online shopping application of organisation in segregated in to different2Illustration1: Aspects of Customer relationship managementSource: (Crm customer relationship management,2018)
department which makes shopping services user friendly. The success of online seller is reflectedby its increasing sales, market share and consumer based (Bhat and Darzi, 2016). The ultimatefocus of entity is to serve customer satisfaction by offering variety of products at affordableprices. However, Amazon implements the use of CRM because it aids in managing fourcustomer related aspects that is marketing, support, orders and sales.Aim“To review the impact of customer relationship management practice on the overall sales of anorganisation: case study of Amazon UK”.ObjectivesTo explore the concept of customer relationship management for maintaining B2Brelationship.To assess theories and models of CRM approachTo determine the ways in which Amazon UK, will sell Smart Point Device to restaurantbusinessTo derive use of CRM in boosting sales volume of Amazon UKQuestionExplain the concept of customer relationship management.How customer relationship program helps Amazon, UK in boosting its sale volume?Describe the use of theories and models of CRM approach.Rationale of studyThe motive of this study is to explore different aspects and theories of customerrelationship management which helps Amazon in managing successful relationship with itsbuyers (Siu, 2016). However, the research is for academic purpose to learn and promoteknowledge on CRM. The scholar has chosen this topic for research because it is an effectiveelement of success in modern era.Significance of StudyThe study is important because it will help in exploring different aspects of one chosentopic. Further, it is an effective approach of learning because investigation will not restrict datacollection and framing assumption helps in making comparison of gathered information.Similarly, it is necessary because it will allow framing of assumption of gathered information on3
CRM (Khodakarami and Chan, 2014). Apart from this, it will help in understanding of theconcepts and tools used by Amazon UK for effective customer relationship management.LITERATURE REVIEWTerminology of customer relationship managementfor maintaining B2B relationship.According toNyadzayo and Khajehzadeh, 2016,maintaining an effective customersupport and relationship are crucial for sustaining the growth of an organisation. Thus, a suitablestrategy must be followed for building interactions with customers. Customer relationshipmanagement (CRM) is an important element in growth because they help in retaining thecustomers and improving their contribution in sales and revenues. CRM keeps a record andanalysis of interactions related to customers. These records assist organisation to make effectivestrategies for target groups.Choudhury and Harrigan, 2014, has stated that it organises the complete informationabout customers so that organisation can interact with them regarding their new products,policies. Apart from keeping interactions with customers, this management can be used by theorganisation to evaluate their performance, revenues, growth. Such approach helps organisationto keep a track that which customer segment needs more focus and which products areappreciated and which products are not performing well. The customer relation managementsystem can also be used for executing operations such as tracking of performance of employees,managing data related to recruitment process, suppliers and dealers related data.As per the views ofSrinivasan and Saravanan, 2015,Customer relationship managementenhances the productivity, inter-organisation management, sales. It can also estimate the salesand revenues in a particular region on the basis of customer response in that region. Customerrelation management system also establish an effective impression about organisation inmindsets on other business in case of Business to business services exchange. Like, there arevarious business who buys products from online retailer which is known as business to businesstrade. It is commercial exchange of transaction between two business. Cloud based CRMsystems allows accessing of the information from any location and at any instant. Such featuresare useful from sales perspective. For instance organisation's sales related members can updateits data instantly even if they are interacting live with their customer segments. They are notrestricted to the organisation premises. The mobile device suitability of the customer relationshipmanagement systems makes them more effective and beneficial. Those organisations who do4
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