INTERIM REPORT

ON

“A study of Customer Relationship

Management of SAMADHAN Group.”

BY Aditya Singh (23BSPJP01C022)

SAMADHAN Nurturing dreams-Innovative Solution

 INTERIM REPORT
ON

“A study of Customer Relationship Management of SAMADHAN Group.”

By
Aditya Singh – 23BSPJP01C022

SAMADHAN Group

A report submitted in partial fulfilment of

the requirements of
MBA Program of
IBS Jaipur

Submitted to

Faculty Guide Company Guide

CA Sukriti Khatri J.P Jay

Faculty , IBS Jaipur Branch Manager

Date: 4th April 2024

2
 ACKNOWLEDGEMENT

I wish to express my sincere thanks and a deep sense of gratitude to my Company Guide, Mr. J.P
Jay , Branch Manager of the SAMADHAN Group , for his consistentencouragement and valuable
guidance pleasantly offered to me throughout the reported work.

I am extremely grateful to my faculty guide CA Sukriti Khatri, Faculty of the IBS Jaipur, ICFAI
University, for extending the facilities of the school towards our report and for her unstinting
support.

I also take this opportunity to thanks Dr Swetha Jain, Dean of the IBS Jaipur, ICFAI University,
and all the faculty of the school for their support and their wisdom imparted to me throughout the
course.

I thank my parents, family, friends and co-workers for bearing with us throughout our report and
for the opportunity they provided us in undergoing this course in such a prestigious institution.

3
 Table of Contents

Contents

INTERIM REPORTON .................................................................................................................................. 2

By .................................................................................................................................................................... 2

SAMADHAN Group ...................................................................................................................................... 2

MBA Program ofIBS Jaipur ........................................................................................................................... 2

Submitted to .................................................................................................................................................... 2
ACKNOWLEDGEMENT .............................................................................................................. 3
ABSTRACT ..................................................................................................................................... 5
ABOUT COMPANY ...................................................................................................................... 6
Our Vision for Successful Samadhan Group ....................................................................... 6
INTRODUCTION........................................................................................................................... 7
CONCLUSION ............................................................................................................................. 15
REFERENCES.............................................................................................................................. 16

4
 ABSTRACT

Customer Relationship Management (CRM) is a crucial strategy for businesses across various
industries, including the SAMADHAN Group. This abstract aims to provide insights into the
implementation and significance of CRM within SAMADHAN Group, focusing on its role in
enhancing customer satisfaction, retention, and overall business success.

SAMADHAN Group recognizes the importance of building strong relationships with its customers to
drive growth and profitability. Through effective CRM practices, the group aims to streamline
communication, personalize interactions, and anticipate customer needs. By leveraging technology
and data analytics, SAMADHAN Group can gather valuable insights into customer preferences,
behaviors, and feedback, enabling informed decision-making and targeted marketing strategies.

Key components of SAMADHAN Group's CRM strategy include customer data management,
segmentation, and engagement across multiple touchpoints. By centralizing customer information and
ensuring its accuracy and accessibility, the group can deliver seamless experiences and tailor its
products and services to meet individual needs.

Moreover, CRM plays a vital role in fostering loyalty and advocacy among SAMADHAN Group's
customers. By nurturing long-term relationships and providing exceptional customer service, the group
can differentiate itself in the market and create a sustainable competitive advantage.

In conclusion, CRM is integral to SAMADHAN Group's business strategy, driving customer-centricity

and enabling growth opportunities. By prioritizing customer relationships and investing in CRM
capabilities, the group can continue to thrive in an increasingly competitive landscape.

5
 ABOUT COMPANY
Samadhan is a prestigious name in the field of Entrepreneurship development and skill
development in association with Government under public private partnership (PPP) mode.
We are on a mission to make the youth of the nation self-employed and self-reliant,
encourage the growth of various sectors, be the voice for local, and grow India under Atma
Nirbhar Bharat Abhiyan.

Our Vision for Successful

Samadhan Group
Samadhan is a prestigious name in the field of Entrepreneurship development and skill development in association with
Government under public private partnership (PPP) mode. We are on a mission to make the youth of the nation self-
employed and self-reliant, encourage the growth of various sectors, be the voice for local, and grow India under Atma
Nirbhar Bharat Abhiyan.

6
 INTRODUCTION

Customer Relationship Management (CRM) can be defined as an organized

approach of developing, managing, and maintaining a profitable relationship
with customers.

Customer Relationship Management is an information industry term for

methodologies, software and usually Internet capabilities that help an
enterprise manage customer relationships in an organized way.

CRM is the process of managing all aspects of interaction a company has

with its customers, including prospecting, sales and service.

Objectives:

• To understand the concepts of Customer Relationship

• To know Ingredients of Customer Relationship Management
• To understand Operational Components of CRM
• To know the Concepts of evaluation of CRM

7
 Customer Relationship Management:

CRM is a disciplined approach to developing and maintaining profitable

customer relationships, and that technology may or may not have a role. The
primary goal of CRM is to increase customer loyalty and in turn improve
business profitability.

The IT organizations define CRM as software that assists marketing,

merchandising, selling, and smooth service operations of a business.

Objectives of Customer Relationship Management:

• Improves Customer Satisfaction

• Expands the Customer Base
• CRM manages the existing customers and also creates knowledge for
customers who are yet to convert.
• Enhances Business Sales
• CRM creates new sales opportunities this increases business revenue.
• Improve Workforce Productivity CRM creates organized manners of
working for sales, sales management staff for business.

Important ingredients of Customer Relationship Management:

Analytics

To observe market trends, it is the process of handling, studying and

representing data in graphical formats such as tables, charts, trends, etc.,

Customer Service

It collects and sends the customer related information to the concerned

department:

• Personal information like name, address, age, etc.

• Requirements and preferences.
• Previous purchase patterns.
• Complaints and suggestions.

8
Business Reporting

It involves in reporting of sales, marketing, and customer care.

Human Resource Management (HRM):

The responsibilities of a human resource manager is in three major areas:

staffing, employee compensation and benefits, and designing work.

Lead Management Marketing:

Lead management is a set of systems, methodologies, and practices designed

to generate new potential business clientele, generally operated through a
variety of campaigns or programs. Lead management facilitates an
Entrepreneurship connection between its outgoing consumer advertising and
the responses to that advertising. These processes are designed for business
to business and direct-to-consumer strategies.

Sales Force Automation

It involves forecasting, processing, recording sales and keeping a track of the

potential interactions.

Workflow Automation

This schedules various processes that run in parallel and it reduces costs and
time and prevents allotting the similar task to many employees.

Marketing:

It is an activity or business process which promoting and selling products or

services, including market research and advertising.

CRM types:

There are four types of Customer Relationship Management systems:

9
Operational Components of CRM

• Sales Force Automation

• Enterprise Marketing Automation
• Services Automation

Sales Force Automation (SFA)

It is the application to manage selling activities and to standardize sales

cycles. It is acommon terminology for sales issues among the sales employees
in a business.

Following modules are:

• Product Configuration:Salespersons/customers automatically design

the product, decide the price for a customized product based on if-then-
else structure.
• Quotation and Proposal Management Salesperson generate a quotation
of products prices, proposal by entering details such as customer name,
product code, number of pieces, delivery requirements, etc.

Accounts Management

Manages entries, credit and debit amounts for transactions and it also stores
the of transaction as records. details

Lead management

It allows users to qualify leads and allows to assign to appropriate

salespersons.

Contact Management

These are stored as computerized record by using the application an user

communicate with the customers.

Opportunity Management: It allows users to identify, follow leads from lead

status to closure and beyond closure.
10
 Marketing Automation:

It involves campaigns management, market segmentation, event based

marketing, and promotions. The campaign modules allows the marketing force
to access data related to customer for designing, evaluating targeted offers,
executing and communications.

Event based (trigger) marketing

It is about messaging, presenting offers in certain duration.

For Example. When a customer calls and speaks to the customer care
number and asks about the rate of interest for credit card payment. This
activity is read by CRM as the customer is comparing interest rates and can be
diverted for a better deal. In this case, a customized offer is triggered to make
the customer retain

Service Automation:

It involves resolving issues or cases, service level management, and

addressing inbound communication and diagnosing and solving the issues
about product.

With the Interactive Voice Response (IVR) system, we can interact with
business computers by entering appropriate menu options. Automatically calls
can be routed to the most capable employee.

Analytical CRM

It is based on capturing, segregating, interpreting, storing, modifying,

processing, and reporting customer related data. It contains internal business
wide data such as Sales Data, FinanceData and Marketing Data

Customer Relationships

11
 To build and maintain customer relationship- investment of time, trust,
transparency, care and communication are important Emotional element of
affection and care is also needed.
Evolution of Customer-Supplier
Business states five phases through which a customer-supplier relationship
evolves:

Awareness: The parties come in contact with each other and see each other
as a possible customer or supplier.

Exploration: The parties find out more about one another’s capabilities and
business prospects. Trial purchasing takes place and performance is assessed.
If deal is not smooth then the relationship terminates with the damage of less
costs.

Expansion: It is composed of attraction, communication, bargaining,

development of rules, and development of expectations from each other.

Commitment: Trust begins to develop and deals are executed as per the
norms and expectations. Mutual understanding and cooperation develops, and
number of transactions start building up.

Dissolution: Not all relationships can survive. Some relationships are

terminated either bilaterally (both parties agree to end) or unilaterally (one
party decides to end).Dissolution can be avoided by reducing cost-to-serve.

Reasons for customers want relationships with suppliers:

There are a number of circumstances when a B2B customer might want a

long-term relationship with a supplier:

Product complexity: if the product or its applications are complex, for

example, networking infrastructure.

Product strategic significance: if the product is strategically important or

mission-critical, for example, supply of essential raw materials for a
continuous process manufacturer.

12
 Service requirements:if there are down-stream service requirements, for
example, for machine tools.

Financial risk: if financial risk is high, for example, in buying large items of
capital equipment.

Reciprocity: a financial audit practice may want a close relationship with a

management consultancy, so that each party benefits from referrals by the
other.

Business-to-consumer relationship:

In a business-to-consumer (B2C) context, relationships may be valued when

the customer experiences benefits over and above those directly derived from
acquiring, consuming or using the product or service.

Recognition: customers may feel more valued when recognized and

addressed by name, for example at a retail bank branch, or as a frequent flyer.

Personalization: products or services can be customized. For example, over

time, a hairdresser may come to understand a customer’s particular
preferences or expectations.

Power: relationships with suppliers can be empowering. For example, some

of the usual power asymmetry in relationships between banks and their
customers may be reversed when customers feel that they have personal
relationships with particular bank officers or branches.

Risk reduction: risk takes many forms – performance, physical, financial,

social and psychological.

High levels of perceived risk are uncomfortable for many customers.

Status: customers may feel that their status is enhanced by a relationship

with a supplier, such as an elite health club or a company offering a platinum
credit-card.

13
 Affiliation: people’s social needs can be met through commercially based, or
non-commercially based, relationships.

Reasons for customers do NOT want relationships with suppliers

Fear of dependency: this is driven by a number of worries. They may also

fear the reduction in their flexibility to choose alternative suppliers. There may
also be concerns over a loss of personal authority and control.

Lack of perceived value in the relationship: In other words, there is no

perceived value above and beyond that obtained from the product or service.

Lack of confidence in the supplier: customers may choose not to enter a

relationship because they feel the potential partner is unreliable, too small,
and strategically insignificant, has a poor reputation or is insufficiently
innovative.

Customer lacks relational orientation: not all company cultures are equally
inclined towards relationship building. Some are much more transactional. For
example, some retailers make it a policy to buy a high proportion of their
merchandise through special offers.

Rapid technological changes: in an industry with rapidly changing

technology, commitment to one supplier might mean that the customer
misses out on new developments available through other suppliers.

Reasons companies do Not want relationships with customers:Companies

sometimes resist entering into relationships with customers.

Loss of control: a mature relationship involves give and take on both sides
of the dyad. In bilateral relationships, suppliers may have to give up unilateral
control over their own business’s resources.

Exit costs: not all relationships survive. It is not necessarily easy or cost-
effective to exit a relationship. Sometimes, investments that are made in a
relationship are not returned when a relationship breaks down.

14
 Resource commitment: relationships require the commitment of resources
such as people, time and money. These would not normally be taken into
account when deciding whether to continue in a relationship.

Opportunity costs: if resources are committed to one customer, they

cannot be allocated to another.

Relationships carry with them high opportunity costs.

Implementation of CRM

It involves technology implementations, people and processes play a large

part.

CRM implementation
Five major phases of a CRM implementation
1. Develop the strategy of CRM
2. Build project foundations of the CRM
3. Select partner and Specify needs
4. Implements the project
5. Evaluate performance.

CONCLUSION
In conclusion, Customer Relationship Management (CRM) is not just a tool or software; it's a
philosophy and strategy that SAMADHAN Group recognizes as integral to its mission of fostering
entrepreneurship and self-reliance among the youth of India. By implementing CRM practices
effectively, SAMADHAN Group can achieve multiple objectives crucial for its success.

Firstly, CRM enhances customer satisfaction by streamlining communication, personalizing

interactions, and anticipating needs. This is vital for a company like SAMADHAN Group, which aims
to empower individuals and businesses through its services.

Secondly, CRM expands the customer base by managing existing relationships and creating
knowledge for potential customers. This aligns with SAMADHAN Group's vision of growing various
sectors and contributing to the nation's self-reliance.

Thirdly, CRM improves business sales and revenue by creating new opportunities and optimizing
workforce productivity. This is essential for SAMADHAN Group's sustainability and growth under
the Atma Nirbhar Bharat Abhiyan.

15
Furthermore, CRM fosters loyalty and advocacy among customers, helping SAMADHAN Group
differentiate itself in the market and build a sustainable competitive advantage. This is crucial in an
environment where customer relationships are key to success.

In the implementation of CRM, SAMADHAN Group recognizes the importance of technology,

people, and processes. By following the five major phases of CRM implementation, the group can
develop a robust strategy, build necessary foundations, select suitable partners, implement projects
effectively, and continuously evaluate performance to ensure ongoing success.

In essence, CRM is not just a strategy for SAMADHAN Group; it's a commitment to customer-
centricity, growth, and excellence. By prioritizing customer relationships and investing in CRM
capabilities, SAMADHAN Group can continue its mission of fostering entrepreneurship, skill
development, and self-reliance in India, contributing to the nation's prosperity and success.

REFERENCES
https://hunarindia.org.in/about-us
https://ebooks.inflibnet.ac.in/hsp15/chapter/customer-relationship-management/
https://hunarindia.org.in/public//uploads/media_manager/171.jpg
https://www.iid.org.in/entrepreneur-
development?gad_source=1&gclid=Cj0KCQjw2a6wBhCVARIsABPeH1tKha8pJxhG5EA-
BWdxz5bo0PNyWCBov77klyRa4l8eVB_6Av-ROq8aAi6IEALw_wcB

16