Customer Relationship Management @ Big Bazaar
SUBMITTED TO :- POONAM NAIR
TABLE OF CONTENTS
| CHAPTER NAME
| * Meaning of CRM
| * Goal of CRM
| * Evolution & growth of CRM
| * Options for implementing CRM
| * Various aspects of CRM
| CRM @ Big Bazaar
| Comparison between CRM @ Reliance Mart & Big Bazaar
| Chapter 4
| Conclusion & recommendation
CHAPTER 1 INTRODUCTION
“it is not enough to have great qualities, we should also have the abilities to manage them”. The same concept can also be applied in an organization. For e.g. a company may produce a very high quality products but it won’t be able to succeed if it fails to manage or satisfy their customers. According to Harward Business Review “an exceptionally satisfied customer is 6 times more likely to buy again as one who is merely satisfied & only 5% increase in customer loyalty can boost profit from 25% to 85%”. Thus all these quotes & experts opinion highlights the importance of Customer Relationship Management. Customers are considered to be king of every business enterprise and loyal customers are the backbone of their business. So customer satisfaction is the primary motive of every business which can be attained through effective CRM (Customer Relationship Management) policy
1.1 Meaning of Customer Relationship Management (CRM):
CRM is a comprehensive strategy & process of acquiring & retaining customers to create superior value for the company as well as the customers. It consists of the processes a company uses to track and organize its contacts with its current and prospective customers. To support these processes, various CRM Software like SAP, ORACLE Sales force.com etc. are used. These software record and store information about customers, various customer interactions, their problems etc which can be accessed by employees in different departments of the company. These information are used by the organization to make future plans that can satisfy the customer on a better way and retaining them for a longer period.
1.2 Goal of CRM:
The goal of CRM is to provide improved services to the customers, and to use customer contact information for targeted marketing.
1.3 Evaluation and growth of the CRM:
CRM passes through three generations such as 1st generation in 1990, 2nd generation in 1996 and the 3rd generation in 2002. In 1st generation following systems were applied for CRM:-
* Call centre management-
It is a web based CRM technology, the enables users browsing a company’s web site to leave a phone number where company representative can call back with more information. * Customer service support-
It is a part of a company’s CRM department that interacts with a customer for their immediate benefits. * Sales force automation-
It is software that automates business tasks like inventory control, sales processing, customer interaction, etc-. * Campaign management-
It is a planning, executing, tracking and analyzing of direct marketing campaigns.
In 2nd generation following improved systems were used for CRM:- * Integrated customer facing front end-
It is face to face interaction between the customers and sales man. This system is used for marketing, sales and services. * ERP integrations-
ERP stands for Enterprise Resource Planning. It is a business management system that integrates all functions of the business. * Customers analytics-
It comprises all the programming that analyzes data about an enterprise’s customers for business decision. * Complete web integration-
It allows end users to have access the data function of a serve hosted application through internet...
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