LOVELY PROFESSIONAL UNIVERSITY

ACADEMIC TASK NO. 2

Mittal School of Business (MSB)

Faculty of General Marketing

Name of the faculty member: Dr. Avinash Rana

Course Code: MGN832 Course Title: Business Research Methods

Date of Allotment: 15/Jan/2021 Date of Submission: 13/Feb/2020
Max. Marks: 30 marks
NAME REGISTRATION ROLL RATING
(Out of 10)
NUMBER NUMBER

SUPRIYA JHA 12015310 RQOC01B109 10

AKHAND PRATAP SINGH 12020009 RQOC01B193 10

RAVI RAJ 12018600 RQOC01A52 10

INTRODUCTION
Customer relationship management (CRM) is a customer-focused business strategy
that dynamically integrates sales, promoting and customer care service so as to
form and add price for the corporate and its clients. Or we can say CRM refers to a
customer-focused business strategy. This concept isn't new and it's actually a
natural development of another thought that's okay accepted within the selling
sphere: relative selling. However, it takes a wider read and is an angle to customers
and to the organization itself that dynamically integrates sales, selling and the client
care service to form and add price for the company and its customers.
This change towards a customer-focused strategy is resulting in a robust demand
for CRM solutions by corporations. However, in spite of corporation’s interest
during this new management model, several CRM implementations fail. One
amongst the most reasons for this lack of success is that the prevailing
methodologies getting used to approach a CRM project aren't adequate, since they
are doing not satisfactorily integrate and complement the strategic and
technological aspects of CRM.
This paper describes a proper methodology for steering the method of developing
and implementing a CRM System that considers and integrates numerous aspects,
like shaping a client strategy, re-engineering customer-oriented business processes
human resources management, the pc system, management of modification and
continuous improvement.

Quality of Literature review

Customer relationship management has been outlined as “a business approach
that integrates folks, processes, and technology to maximize relationships with
customers” Goldenberg (2008, p.3). Moreover, it's been expressed that client
relationship management “characterizes a management philosophy that's a whole
orientation of the corporate toward existing and potential client relationships”
(Raab et al, 2008, p.6)
Mueller (2010) characterizes client relationship management facet of the business
as an extremely dynamic, and convincingly argues that companies have to be
compelled to adopt a proactive approach in production relevant programs and
initiatives so as to stay competitive in their industries.
Sinkovics and Ghauri (2009) relate the need for participating in client relationship
management to high value of direct sales, extremely enhancive level of
competition within the world level, and wish for data concerning varied aspects of
the business normally, and shopper behavior especially, which will be accustomed
increase the amount of sales.
According to Peppers and Rogers (2011), there's world tendency in client
relationship management that relates to the shift from transactional model
towards the link model. In different words, Peppers and Rogers (2011) argue that
satisfying client wants as a result of on-time dealings isn't decent these days so as
to make sure the long growth of the companies.
Instead, businesses have to be compelled to attempt to keep up long relationships
with their customers so as to keep up flexibility to adopt their increasing
expectations and therefore achieving their life-long loyalty. Peppers and Rogers
(2011) any stress that, businesses that refuses to acknowledge this tendency within
the world marketplace would be risking their market share and growth prospects
within the future.
One of the foremost important sources for the analysis is that the book
“Relationship promoting and client Relationship Management” authored by Brink
and Berndt (2009). The book offers associate in-depth discussion of the thought of
client bit Map and discusses the role of data technology in facilitating client
relationship management.
The work of Mathur (2010) represents another important contribution to the
analysis space to be utilized in the study. Namely, the author provides a good vary
of specific client relationship management techniques and principles that area unit
employed by international businesses. The findings of Mathur (2010) may be
compared to the first knowledge findings within the planned analysis, therefore
enhancing the scope of the study.
Khurana (2010), on the opposite hand, discusses the thought of client relationship
management in an exceedingly nice detail, and conjointly addresses blessings and
drawbacks related to a variety of relevant package applications. The third edition
of Pradan’s (2009) “Retailing Management” is another noteworthy supply that's
getting to be utilized in the study. Specifically, Pradan (2009) identifies client
relationship management as associate rising facet of promoting in retail and
discusses its importance for making certain long growth for retail businesses.
A global approach towards the problems of client relationship management is
adopted by Raab et al (2008) in “Customer relationship management: a world
perspective”. The worth of this specific work to the planned analysis may be
explained in an exceedingly means that it'll permit the comparison of client
relationship management principles to the similar principles exercised by different
international retailers in an exceedingly world marketplace.
Bhatia’s (2008) work, “Retail Management” is additionally getting to be utilized in
the planned study thanks to the importance of the contribution of the work to the
analysis space. Bhatia (2008) offers in-depth discussions associated with the
utilization of loyalty cards by retailers, and this represents a comprehensive
analysis of the difficulty within the secondary knowledge.
Moreover, Cox’s (2011) “Retail Analytics: the key Weapon” deserves conjointly to
be mentioned in here because of the foremost trendy and recent perspective the
author adopts so as to approach the analysis problems. The foremost valuable a
part of this specific article is that it provides extremely sensible recommendations
to retailers of assorted sizes in terms of skyrocketing the amount of revenues
through adopting a variety of client relationship management principles.
A range of educational models and writings relate to the current analysis in direct
and indirect ways that and a few of the foremost relevant models area unit getting
to be explored within the study. One amongst the foremost models to be utilized
in the study is that the Gap Model of Service Quality. “A model of service quality
known as the gap model identifies 5 gaps which will cause issues in commission
delivery and influence client evaluations of service quality” (Lamb et al, 2011,
p.189).
These 5 gaps area unit a) the gap between client needs and therefore the
management perceptions concerning client needs; b) the gap between the
management perceptions concerning client wants and therefore the specifications
of service developed; c) the gap between the service specifications and therefore
the actual service provided; d) the gap between the standard of service secure and
therefore the quality of service provided, and e) the gap between expected service
and perceived service on behalf of client.
Another relevant model to be tested throughout the study constitutes Relationship
Model of client relationship management planned by Peppers and Rogers (2011).
Specifically, the model advocates adopting a pro-active approach in sustaining
client relationships and proposes a collection of specific principles that will assist
to accomplish this task.

Problem statement and Objective of the study

Main causes of the failure of CRM strategy
1. Thinking that technology is that the solution: CRM is taken into account as being
a replacement technology rather than a replacement approach of doing things. This
can be a blunder, since technology solely is smart when the business objectives are
properly outlined
2. Lack of management support because of an absence of data regarding the
opportunities offered by CRM
3. There's no ‘‘passion for the customer’’ within the organizations culture
4. Lack of vision and strategy. It's common to not have a well-defined strategy and
measurable business objectives within the space of CRM
5. Not redefining processes. Like different technological comes, it's necessary to
redefine the business processes for achieving the required results
6. Poor quality information and knowledge, which implies the correct conclusions
don't seem to be drawn by the organization
7. Not managing the amendment properly. As, with any advanced project, correct
management of amendment and of the organizational culture for achieving the
success of the amendment is important
8. Not involving the ultimate users in planning the CRM resolution, which implies
running the chance of developing a system that brings a lot of issues than solutions
to the users United Nations agency square measure purported to get pleasure from
it.

CRM Objectives and Goals to Set

1. Improved client Satisfaction
Happy customer’s square measure loyal customers and that they conjointly supply
sensible word of mouth advertising, which might be valuable. Creating client
satisfaction the first goal of your CRM campaign is that the surest thanks to improve
your bottom line. This could be achieved by fostering inflated client engagement
via social networking sites and numerous mobile platforms. You’ll take into account
implementing surveys or making Associate in nursing interactive web log. Actively
soliciting feedback from your purchasers can assist you verify that actions and
activities can create them additional content with the services or product they're
receiving.
one in all the most important edges in mapping out your CRM set up with inflated
client satisfaction as your primary goal is that the proven fact that all different goals
and objectives can invariably support this effort. During this approach, every
technique that you just use or live that you just take can share a dependent
relationship with the remainder. As a result, all of your investments in CRM are
going to be supporting your goals in an exceedingly balanced and seamless fashion.
2. Improve the potency Of Your Business
CRM will assist you eliminate redundancies in your selling campaigns by permitting
you to comprehend that stage of the getting method every returning client is in.
you'll transfer selling materials that square measure targeted to specific interests
and buying talents, instead of transmission general messages that square measure
so much less possible to come up with Associate in Nursing optimum quantity of
attention. An honest CRM platform can collect and organize a wealth of knowledge
referring to individual and cluster client profiles. Another a part of these endeavors
are often the implementation and use of information management systems that
increase the speed at that client inquiries square measure self-addressed and
issues square measure resolved. Larger levels of potency also will result in
improved shopper satisfaction.
This can be to boot a really proactive sort of name management, each on-line and
off and therefore, it's definitely a worthy goal to pursue. As another profit, a
number of the foremost innovative efforts to boost the general potency of your
business also can support the stigmatization method. Showing yourself as being
clear, simple to attach with and prepared to produce fast support and services can
foster the event of a robust and appealing complete image. only if stigmatization is
one in all the foremost expensive and long aspects of building your business and
garnering additional attention for it, seeking to boost overall potency in an
exceedingly approach which will foster a stronger name could be a important
addition to your high CRM objectives and goals.
3. Expand You client Base
It is necessary to notice that CRM isn't only for managing the shoppers you have
already got. A CRM program that's connected to a high-quality data management
platform can enable you to remain in reality with prospects that have nonetheless
to convert. It’ll conjointly enable you to spot commonalities and relationships
among the purchasers that you just have already got, in order that you'll hone and
improve your future efforts in reach. A bigger client base can leave inflated
continuity in profits, even in an exceedingly seasonal trade.
Having goals like this one as a part of your CRM set up is additionally an excellent
thanks to devise a system that's all independent within the money sense. By
streamlining your selling efforts for quicker and inflated conversions, you'll cut
prices in an exceedingly range of areas whereas increasing your profits. Moreover,
all of your new and most up-to-date converts are often quickly funneled into a
system that permits you to stay in reality and to stay your services and product
recent in their minds. This ensures that your CRM budget isn't exhausted.
4. Enhance Your Sales and Support groups
One in all the foremost necessary CRM objectives to contemplate is enhancing
your team. By higher learning the requirements of the folks you service, you'll
become progressively adept in characteristic the correct talent to produce these
services. Talent management software system, hour management software system
and different cloud-based tools will assist you increase the worth of your trained
staff. Very similar to your current customers, your talent is among your high assets.
Whether or not CRM helps you replace undesirable additions to your team or offers
you a framework for increasing the client service skills of existing staff, it's bound
to improve the advantages that employed employee’s square measure providing.
Additional significantly, CRM can provide you with a suggestion for any skilled
development plans that you just would like to implement and create obligatory
among all staff. The info that your CRM system collects are often used as a part of
worker reviews and worker rewards or incentive programs. trailing client feedback
in relevancy the employees UN agency have provided client service can enable you
to create extremely well-read hiring, firing and promotion choices. It’ll conjointly
provide you with Associate in nursing in-depth guide for sharing with any
achievement agencies that you just square measure operating with or for
bolstering your own in-house achievement groups.
Several firms square measure heavily dependent upon cloud-based and integrated
systems. With data sharing solutions, you'll get optimum edges from every and
each side of those endeavors. Better of all, with goals that foster and support one
another because the basis of this method, every of your investments in CRM is
absolute to offer fantastic returns. When having determined your CRM objectives
and goals, you'll have to be compelled to begin searching for the correct tools and
resources for transferral these to fruition.

Research Methodology
As a result, within the future, differentiation from competitors goes to be
supported the speed with that a corporation is capable of responding to the
necessities and demands of the market with innovative product and services.
Therefore, though client care has forever been a basic rule of business activity, a
brand new model of client relationship management (known as CRM) is currently
necessary so as to adopt a client centered type of organization, that maximizes the
worth clients will expect from the corporate and sees within the data derived from
the customer the chance to ascertain business ways.
In addition, from the technological purpose of read, this new client-focused
structure model makes it necessary to enrich the ERP applications that have vie a
key role within the processes of optimizing internal procedures (Business method
Re-engineering) and external processes about provide chain management with
CRM data Technologies (IT) solutions that play a key role in customer management
procedures.
As a results of learning CRM technological solutions and analyzing the company’s
desires, a model of what a CRM system ought to be like was designed among the
CRM-Iris project. This resolution is expressed in terms of 4 main areas.
• Transactional (operational) CRM. This includes promoting (contact
management, sales management and client chance groups, observance of
interactions with the client, campaigns), sales (collected by totally different
order, delivery note and bill channels) and after-sales (queries, complaints,
then forth).
• Analytical CRM. This corresponds to the mixing and process of the info
noninheritable, changing it into info that's helpful for designation client
relationship management and process improvement comes. The core of the
applying is comparable to a performance measure system supported a
collection of indicators. It shows graph associate degreed matter
 comparisons between the particular and also the desired state of affairs in
varied aspects of client relationship management and helps with drawing up
an integrated set up for up client relations.
• Strategic CRM. this can be directed at evaluating client profitableness and
process short-, medium- and long-run client objectives (Curry and Curry,
2000). it's used in order that a corporation can: – structure its client sorts
into different totally different completely different segments; – analyze their
price employing a customer-based price model that's different to the normal
product based mostly one; – calculate financial gain, profits and total
profitableness for patrons, by section and by individual client; – measure the
cost-effectiveness of investment in promoting and sales; – construct a
historical matrix of client migration; – simulate customer flow forecasts
within the matrix.
• E-CRM. this enables access to customer-related info in real time and at any
time and place through an internet service and also the net employing a
browser. This business portal makes it doable for each company employees
and clients to access all customer, marketing, sales and after-sales info (for
example, customers will place orders and check their standing, resolve
queries or method incidents).

Different qualitative and quantitative ways were wont to build the methodology.
within the 1st place, the literature associated with this line of analysis was reviewed
and also the results of various comes involving CRM were analyzed. during this
method, each a transparent read and a more robust understanding of the subject
were obtained. After this, info concerning CRM was collected by suggests that of
the interview and questionnaires applied to managers of twenty six freelance little
and medium-sized firms from varied sectors that collaborated within the CRMIRIS
project. Once this info had been place along and processed, a primary version of
the CRM-IRIS methodology was created. Finally, the results were applied to the
higher than twenty six firms so as to (1) validate and document the advantages and
lessons learned within the sort of a properly comprehensible business case, and (2)
to enhance the initial results by applying the conclusions drawn from those results
to them. moreover as rising the methodology as a results of applying it to
completely different firms, the potential for developing analysis during this space
has been evidenced and a series of lessons are learned:
• In order for corporations to integrate CRM management effectively with all
their existing business processes (including the availability chain, the
merchandise development cycle, the money systems, the delivery of services
and internal structure structure), each management and staff should
perceive and assimilate the strategic business price of the CRM project.
These key participants should perceive that CRM management isn't merely a
technological strategy however rather an important business strategy for the
success of their individual departments and of the organization as a full.

• The customer-oriented business model is rarely practiced and tiny best-

known, at either the operational or management level.

• Difficulty in process a client strategy. corporations don't seem to be able to

act during a coordinated and participative method with their customers.
corporations feel safer working on the premise of their own objectives.

• Limitations regarding the general vision of client relationships. This behavior

is that the results of historical factors that conditioned folks and firms to
target their own objectives. Consequently, initiatives directed at managing
client relationships in AN integrated method among all those concerned stay
faraway from the particular state of affairs in business.

• The would like for a lot of scientific production showing business experiences
and formal methodologies.

• The got to encourage the coaching of employees in integrated client

relationship management. it's been shown that employees coaching
programmes doesn't embody the participation of staff in courses or
alternative kinds of events associated with CRM. of these difficulties square
measure associated with the low level of awareness of the importance of
 CRM and, therefore, of the advantages that correct client relationship
management will generate.

Conclusions
CRM (customer relationship management) can be defined as a set of business,
marketing and communication R. Chalmeta / The Journal of Systems and Software
79 (2006) 1015–1024 1023 strategies and technological infrastructures designed
with the aim of building a lasting relationship with customers, which involves
identifying, understanding and meeting their needs. To tackle a CRM project
successfully, it is fundamental to have a formal methodology directing the
development and implementation process. However, the current paradigms are
not adequate, as they do not properly integrate and complement the strategic and
technological aspects of CRM. Within this framework, this paper has offered a
description of the methodology obtained as a result of the CRM Iris Project. This
methodology considers various aspects of a CRM system. Some of the most
important are the definition of a customer strategy, the re-engineering of customer
oriented business processes, human resources management, the computer
system, the management of change and continuous improvement.

Bibliography
We all have done studies and research on CRM. CRM is customer relationship
management. We have taken sources from the mentioned links below.

• https://en.wikipedia.org/wiki/Customer_relationship_management
• https://research-methodology.net/a-brief-literature-review-customer-relationship-
management/
• https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.1016.8087&rep=rep1&type
=pdf
• https://www.springer.com/gp/book/9783662553800#aboutBook

THANK YOU….