Impact Of CRM On Emerging Markets
Define CRM [Customer relationship management
Write an essay on Impact of CRM on emerging Market.
Customer relationship management is the method through which company communicate with present and future customers. With the help of customer relationship management an organization analyses the information and data about the customers who are acquainted with the organization. In this chapter, theoretical and conceptual analysis will be constructed in order to delineate the effect of customer relationship management. Customer relationship management is one of the most dynamic subjects that involve technology and strategies in order to manage communication processes (Neslin 2014). The study would discuss about the impact of customer relationship in organization. Customer relationship management is not a new concept but there has been current development that has enhanced the communication procedure between the organization and customer (Rai 2012). The impact of customer relationship management on enhancing the loyalty of the customer would be analysed. Previous studies had described the effect of the customer satisfaction on an organization. It has been seen that in order to enhance customer loyalty CRM plays a massive role in an organization. In this chapter, the analysis of the primary data will be applied to develop the secondary data.
Customer relationship management is the concept that an organization utilizes in order to develop customer relationship and drive the growth of the sales of an organization. As discussed by Shapiro et al. (s2014), one of the significant aspects of this concept is that the customer relationship managers compile data and information from various ranges of interaction channels. The channels comprises of websites, mails, telephones and materials from social media. As per Fagerstrøm et al. (2015), CRM is the effective approach through which company manages interaction procedures with the customers. It has been seen that companies are using technologies in order to organize, assimilate and synchronize the data so that the organization can effectively provide service the customers (El-Gohary et al. 2013). As discussed by Stein, Smith and Lancioni 2013, the companies uses customer relationship management as strategy so that they can enhance their performance level and provide customer better service in order to gain loyalty.
The primary objective of CRM of an organization is to amalgamate and automate sales, customer support and marketing procedure. As per Brennan et al. (2014), the organization have systems that has dashboards where the overall data and information about a customer can be seen in one page. Through this automated service, customers are substantiated through multiple passages such as email, phone calls and knowledge bases. Through analytical process, customer relationship management collects data from various sources. As per Kumar and Reinartz (2012), analytical procedure is the technique through which organization designs data mining, pattern recognition and correlation in order to scrutinize the customer data. Customer loyalty is an important factor that helps an organization to increase its brand value and position in the market. As discussed by, Customer relationship management utilizes communication as a tool so that they can understand customer need and provide service according to that need so that the customers stays loyal to the organization(Hailey 2015).
Relationship marketing
Relationship management is the instrument that the organization implements on the customer in order to enhance relationship between the customer and the organization. As per Stein et al. (2013), it is the strategy in which a continuous engagement level is maintained with the customer by the organization. It is the kind of management where the organization indulges themselves into investment related relationship with the customers. As discussed by Fournier (2013), the organization has to develop prominent relationship with the customers in order to constitute financial relationship. It has been seen that relationship management of an organization assists to generate partnership between the enterprise and its customer rather than constituting only transactional relationship. As per Padilla-Meléndez and Garrido-Moreno (2014), the business that responds to the need of the consumers is more likely to develop relationship that is more effective with the customers. As discussed by Wei (2013), organization that offers better product and service and considers the need of the customer has superior relationship with the consumers. The root of the relationship management is to improve long-term profitability. As discussed by Mohammad et al. (2013), relationship management is the study that maximizes the value of the organization by enhancing the bond between customer and enterprise.
It has been seen that relationship management is the procedure that involves building support and loyalty of the customers with the organization (Tsai and Pai 2012). Relationship management plays a significant role in developing loyalty of the customers towards the organization. As per, it is the technique that that the organization utilizes in order to increase customer loyalty so that the organization can perform better and achieve long-term goals (Gounaris and Tzempelikos 2014).
In considering the relationship marketing of Gummenson, the relationship management is classified into four major sections. These major sections are Classic Market Relationships, Special Market Relationship, Mega Relationships, and Nano Relationships (Gummesson 2008). These classified segments include different types of the relationship components. One of these components is “Customer-Service Provider”, which requires the major focus on the customer relationship management. The relationship between the customers and the service providers is somewhat proportional. If the customers receive the effective after sale services, it would be effective enough in enhancing the positive word of mouth. Similarly, the work efficiency of the service providers leads to the customers’ satisfaction and vice versa.
Value added is the financial analysis of the shares. As per Brouwer et al. (2014), Value added can be elucidated as the enhancement of the product and service that an organization provides before presenting the product to the consumers. A firm or an organization utilizes this procedure to enhance a homogeneous product with little difference from the product of the competitors and provide consumers with slightly improvised version of the product so that it the product serves enhanced sense of value. As discussed by Galanakis (2012), value addition can affect the price of the product or the value of the product. It was inspected that the value added affects the goals of the companies. In the age of digitalization, organizations are finding it hard to keep up with the changing market demand of the products.
Added value
It has been seen that the companies are confronting challenges to find a technique through which they can add value and keep the price of the product in an affordable range. As discussed by Nell, Beugelsdijk and Ambos (2014), the consumers are less concerned with the products and more concerned with what service the product will provide to them. As per the journal published by Duval et al. 2016, Value added is the discrepancy between the cost of the product and the price exhausted for the production procedure.
Anning, Okyere and Annan (2013) described that ‘added value’ is one of the most important tactics, which are used in the organisations for retaining the customers. In addition, the maintenance of the added value is effective enough in enhancing brand awareness and establishing the product differentiation. Some of the basic ways are therefore needed to be considered to implement added value into the organisational practices. First, the companies need to prioritize the customers’ perspectives at the first place. It is required to recognise the basic needs and the requirements of the customers and provide the facilities accordingly. Another important concern lies within the improvisation of the consistent work performance. Corsaro (2014) pointed out that the improvement in the work practices helps in achieving the customers’ satisfaction more significantly. In such cases, the concentration on the total quality management is necessary. However, the implementation of the relevant marketing model into the strategy will be beneficial for the company to create added value. It is important to note that the establishment of the skilful customer experience helps in increasing the positive ‘word of mouth’. The positive responses of the customers help in attracting other customers to purchase the products or the services of the similar brand. Hence, the formulation of the efficient customer service experience is essential. Free resources are also considered as the important aspect. The companies should not underestimate the free resources since these are the valuable components for establishing the added value of the customer relationship.
Value creation is the objective of the business organization so that they can sell the product and service of the organization. As per the journal published by Dean (2014), value creation is important technique through which an organization develops value for the shareholders, by increasing the stock price. It also assists the company to assure the future availability of capital that is invested to operational funding. When a business accumulates revenue that exceeds the expenses then only value is created. As discussed by Ambrosini et al. (2015), financial measures are different from the value creation. It has been seen that traditional methods of analyzing the performance of the organization is not adequate.
Value creation in today’s organization is important because the assets of the company do not determine stock price of the company on the contrary, it is determined by the brand and the value of the product manufactured by the company. Value creation is recognized as the better determinant to achieve organizational goals. Value creation is a factor that should be considered while launching a product. It has been seen that consumer loyalty is affected by the value of the product service provided by the organization (Cina 2013). It is said that to enhance performance of the organization and achieve long-term goals. According to previous studies, value creation assists an organization to attract the loyalty of the customers. As per the journal published by Wilson and Post (2013), many intangible factors enhance the value of the product. Technology, innovation and intellectual property of an organization are the factors that drive value creation (Gilson 2014). The investigated factors have been describing that the poor CRM system may affect loyalty of the customer towards an organization. It is significant to note that organizations makes investments in order to enhance the intangible features of the organization and it serves indirect benefits to the organization (Afsharipour 2014).
Customer loyalty is the behavioural discrepancy that the consumers show while they choose a brand. Their inclination towards a specific product or service of an organization defines their loyalty towards that brand. As per Blut et al. (2014), the consumers have a tendency to show preference towards the brand that readily meets all their needs. The organization that encourages customer loyalty and modifies their product and service according to the changing needs of the customers. It is perceived that customer loyalty of an organization encourages customers to shop frequently and consistently. According to Suh and Ahn (2012), the concept customer loyalty can be developed by creating solid relationship and understanding with the customers.
Loyalty program is the program that is structured by the organization to encourage the consumers to buy products continuously. As per the journal published by Zhang et al. (2014), there are many programs and varying feature assist an organization to market their products. According to Orel and Kara 2014, the organization provides reward programs in order to provide advanced access to the newly launched product. To develop customer loyalty reward programs are very effective.
Organizational culture involves behaviours and values that represent the psychological environment of an organization. According to Alvesson (2012), organizational culture of an organization depicts the collective beliefs and values of the organizational members. Organizational culture is the system that represents the values and assumptions of the organization and governs the way employees behave in an organization. The shared values of the organization have great influence on the workers of an organization (Nica 2013). It has been seen organizational behaviour is different in every enterprise. The distinctiveness of an organization defines the culture of the organization (O’Hora et al. 2015). Organizational behaviour has great impact on the employees working in the organization. As per Lee and Kramer (2016), organization that encourages innovation supports the employees to take risk and increase the performance level of the organization.
The conceptualised explanation based on the organisational culture has been highlighting the formulation of Schein’s Model. Edgar Schein developed such model by considering both the direct and indirect mechanisms within the organisation (Hogan and Coote 2014). According to such theoretical perspectives, the organisational culture depends on three basic mechanisms, such as Artefacts and symbols, Espoused Values, and Assumptions. The model is also known as the Onion Model. The first layer is ensuring the Artefacts, which directly points out the organisational surface. The artefacts are the visible elements that include architecture, process, logos, and corporate clothing. In textile industry, each of the elements are linked to each other and considered as the important segments for improvising the organisational culture (Rafaeli and Pratt 2013). On the other hand, the espoused value considers the concerned values, rules, and standards. The organisation needs to keep the focus on the formulation of objectives, strategies, and philosophies to drive the business significantly. The implementation of the justified strategies would be helpful for increasing the organisational productivity. The compressed form of these two elements forms the possible assumptions. The final element would determine the possible assumptions about the experiences of the internal business environment.
As per a and Harrison 2015, through communication is the tool to analyze the culture of an organization. In order to achieve long-term goals an organization has to have effective work culture. The characteristics of an organization influence the employees and employees affect the performance level of the organization. Gimenez-Espin et al. 2013 have said that work culture and understanding between the employees affect the quality of the work and productivity. It has been seen that the organization that provides support and motivation to the employees has highest productivity rate and have greater level of customer loyalty. As per Glisson 2015, the organizational head should understand the employees working in the organization.
Economic development is the qualitative measurement of the progress of the economy. The economic development is the evolution of the economic wealth of the regions and countries (Portney 2013). This scope determines the economic improvement in an organization. According to Lloyd-Jones and Rakodi 2014, economic development is the factor that affects customer loyalty. Consumers are influenced by the economic growth of the organization. An organization that has economic stability has greater customer loyalty. An organization that has greater economic growth tends to have more loyal customer because the customers think that the organization that has economic sustainability has greater brand value. As per Durand 2015, consumers put their faith on organizations that has high sustainability rate and frequently improvises their existing product. It has been seen that the organization that has high brand value is capable of satisfying the need of the consumers as they can take risks and implement strategies as they have financial stability.
According to Hollensen (2015), relationship quality is referred as the major elements, which have been highlighting the nature of the entire relationship. Some of the major components are associated with such quality of the customer relationship. These components are credibility, outcomes, loyalty, dependency, trust, commitments, and risks. The construction of the relationship quality has been frequently recognised if there is the blend of commitment, trust, and satisfaction. Shani and Chalasani (2013) referred that relationship quality is signified as the mediating construct. On the contrary, Peltier, Zahay and Lehmann (2013) argued that there are the justified differences between relationship outcomes and relationship quality. The hired outlet supervisor is the major responsible person to put the description of relationship quality. This relationship quality has been developed over reflected franchise and employee satisfactions. It is to be indicated that each of these parts need to determine that the other end is committed and credible enough as per the business requirements.
However, it is to be noted that the emergence of e-CRM is ensuring the reduction of uncertainty level between franchisee and franchisor. Trainor et al. (2014) pointed out that e-CRM includes the offerings of the database and the interactive sessions with the potential and current consumers. The establishment of the communicational frequency and transparency is the key way to build string relationship between the franchise and the customers (Brennan et al. 2014). It is noted that the process of CRM is much significant in establishing the strengthened and positive relationship between the organisation and the customers. In fact, it is the driving for enhancing the relationship quality in a positive way. The enhancements of the relationship quality factors, such as satisfaction, trust, and commitments are facilitated by the CRM process.
The concept of the customer prioritization is deliberately associated with the clarified goals of the organisations. Depending on the pre-determined objectives, the organisations usually fix the set of priorities among the resource allocations and the selection of the target customers (Wetzel, Hammerschmidt and Zablah 2012). These requirements facilitate the correspondence their priorities, which help them to set the benchmark. According to Mullins et al. (2014), the implication of the customer prioritization signifies that the customers would receive the preferential and innovative services related to the different marketing instruments. It is noted that organisations usually promote different management practices to serve the customers who have different interests in diversified segments (Terho et al. 2015). The process determines the sales volumes of their potential customers. In concentrating on such particular aspect, it can be stated that the companies can implement their differentiated market instruments that help in building the customer base.
These preferential products or service features have been indicating the level of satisfaction. Depending on such level, the business management structures the business practise sequentially. More specifically, extraction of the customers’ feedbacks is the major required segment to determine identification of such needs of the customers (Huang 2012). This recognition of the needs would ensure the organisation about the set of priorities.
Customer satisfaction is the term, which indicates the brand value of a company. According to Wetzel, Hammerschmidt and Zablah (2014), customer satisfaction is sometimes considered as the tool for measuring the products and the services that are needed to be supplied to the customers. The achievement of the customers’ expectation level determines the level of customer satisfaction. The practices undertaken for satisfying the customers’ expectation help in improvising the organisational productivity. The customer satisfaction is the major indicator, which determines the future purchases and enhances the customer loyalty. In fact, it is to be indicated that the increasing level of the customer satisfaction would specify the reduction of the customer churn. Oliver (2014) defined that the achievement of the customer satisfaction level increases the customer value, which is essential for building the positive ‘word of mouth’. The influence of the ‘word of mouth’ determines the business practices for the longer time. In considering the customer satisfaction aspect, the application of Kano Model will be structured further.
Kano’s Model: In concentrating on the conceptualised idea about the customer satisfaction, the application of Kano’s Model would be preferable much significantly. Barutçu, Akgün and Aydin (2015) opined that Kano Model is one of the most significant methods of presenting an analysis of product features perceived by the potential customers. The customers select the preferential features of the products or services that are associated with the perceived demands. However, in describing the Kano Model, the discussion of customers’ satisfaction and functionality are determined (Shahin and Mohammadi, Shahiverdi 2015). It is to be noted that the customer satisfaction is mainly based on the featured levels of the functionality. The customer satisfaction and functionality are based on four different aspects. The following diagram will present the diversified aspects of the customer satisfaction and functionality.
Performance: In some of the cases, the features of the products are similar to the perceived product or service specifications. In such cases, the customers become satisfied when they receive the products as per their expectations. The performance of the products becomes specified in such cases. Hence, such proportional relation between satisfaction and functionality forms the conceptualised idea about linear attributes in the Kano literature.
Must-be: The Must-be features have been considering the expected level of the customers. For example, when a customer perceived for a specific feature in a product or service and if the requirements are not fulfilled, it would signify the incompleteness (Tontini, Søilen and Silveira 2013). However, in such cases, the feature would not be considered as the dissatisfaction.
Attractive: This particular category is determining the unexpected features in a product that amuses the customers. When the customers do not expect of some particular product attribute and it is presented to the customers surprisingly, it creates the positive influences on the customers. Therefore, this category is termed as “attractive”. This feature tends to delight the customers and helps in retaining them for the loner time.
Indifferent: Some of the features offered to the customers are taken into account as ‘indifferent’. In such segment, some of the product attributes do not make any difference whether these are present or absent (Basfirinci and Mitra 2015). These are the external features that sometimes excite the customers and cannot make any changes simultaneously.
The recognition of the Kano Model identifies the different categories that are influencing the level of the customer satisfaction. Following the step is essential in considering the achievement of the pre-determined goals.
The establishment of the proper customer relationship, trust and commitments signify the most essential parts. The application of commitment-trust theory of customer relationship is identifying the importance of building trust and commitments. The theory specifications determine the major fundamentals, such as trust and commitment. Hashim and Tan (2015) suggested that relationship marketing in textile industry requires the effective bonding with the customer by fulfilling their needs and queries. It is noted that the business companies usually focus on the long term stability rather than accomplishing the short term goals. In such cases, building trust is the most important segment. As per the Commitment-Trust Theory of Relationship marketing, the different segments are analysed differently.
Trust: Building trust is the centralized aspect for the relationship marketing. In textile industry, the customers are much fond of the quality of the garments and the products or the services that they have been receiving from the company. As defined by Elbeltagi and Agag (2016), trust is the forming the expressions of confidence by exchanging the faith of protecting other party. Hence, it can be inferred that trust is the major source of building confidence among the partners. The assemble of competence, consistency, fairness, honesty, and helpfulness are the major driving forces for maintaining integrity in business. In fact, the customers usually look for these qualities while dealing with any company. It is to be indicated building trust is the key way achieve customer satisfaction. Moreover, it helps in securing the sustainable business position.
Commitment: The connection between trust and commitments is much foreseen. According to Ahmedlp, Patterson and Styles (2015), commitment determines the maintenance of the loyalty, stability, and reliability between two parties. Therefore, the commitments sometimes describe the maintenance of the relationship through the ongoing investments into activities, which facilitates the effective relationship with the customers. Trust leads to the commitments, which create the vulnerability and the risks can be reduced through trusting the opposite parties. The formulation of the commitments allows the future benefits for the customers. It is even helpful for receiving the positive responses from the potential customers. If these customers would share their positive experiences with other people, it would be easier for the organisation to enhance the customer base. In fact, it would facilitate the possibility of strengthening the sustainable position.
Strategies for Relationship Marketing (Localisation)
The relationship marketing is based on the application of the proper strategies that can enhance the customer loyalty. The formulation of the relationship marketing has been aligned with the strategies of localisation. The selected methods for facilitating relationship marketing are needed to be associated with the proper strategic decisions. More specifically, it is required to follow the different relationship strategies. Some of the strategies are discussed further:
Networking: Creating the proper record to keep connected with the potential customers is essential for building trust. This particular technique is considered as one of the most fruitful techniques to strengthen the relationship marketing. Connecting with the customers on regular bases helps in increasing the brand awareness as well as expanding the customer base (Hollensen 2015). In current time, it has been seen that social media is the most effective tool for staying connected with the customers. The localisation process considers the extensive forms of the social networking. The social media pages have been gathering the reviews of the customers, which may influence the other customers to get attracted towards the products or services offered by the company. Simultaneously, the company needs to stay connected and keep fulfilling the queries of the customers to get the positive feedbacks.
Frequent Communication: The maintenance of the frequency is the most required aspect for the business companies in terms of building proper relationship marketing process. In this current world of globalisations, the demands and the requirements of the customers are continuously changing. Therefore, it is important to keep updated about the changing demands of the customers. The identification of the customers’ needs is facilitated by the frequent communications (Samaha, Beck and Palmatier 2014). In addition, the establishment of the communicational purposes is also considered as the fruitful strategies of localisation. The improvement of the communication procedure would be effective enough in determining the proper relationship building with the customers.
The application of these specified strategies would be beneficial for the organisations for the future prospects. Especially, the organisations, which have set the long term goals, need to follow the strategies to determine the extensive customer base.
The implementation of the localisation strategy determines the maintenance of the corporate social responsibilities. The maintenance of the cooperativeness is necessary while conducting any business. Most of the business companies have been undertaking the skilful corporate social responsibility to maintain strengthened position of the sustainable business. According to Halinen (2012), CSR is the efficient business practices that include the societal benefits and maintain environmental welfare. Usually, the organisations undertake the business practices to ensure the ‘greener’ business operations. Some of the categories are included in the practices of corporate social responsibility. These categories are described further:
1) Work ethics of the companies: In considering the work ethics in the corporate world, it is required to keep the focus on the welfare of both the internal and the external stakeholders. Especially, in case of the textile industry, the organisations need to pay attention towards the quality parameter of the textile products (Preuss 2013). On the contrary, focusing on the employees’ training purposes is also much necessary. It is to be noted that the skilled performance outcomes of the employees help in satisfying the customers’ needs much significantly (Aguinis and Glavas 2012). Raymond has concentrated on the quality enhancement techniques to gather customers’ attention. On the contrary, M&S has been concentrating on the employees’ welfare to make them more skilled. The maintenance of such work ethics is thus essential to strengthen the business position.
A) Work Policy of Raymond India: The maintenance of the proper corporate governance is considered as the integral part of business practices in Raymond. In ensuring the good work ethics and management practices, the company has undertaken a number of Business Codes and Ethics (com 2016). These codes are mainly applied to each of the employees including board of directors who are associated with the organisation. The ethical codes applied in this company are:
1) Fulfilment of the regulations: Each of the employees and the board of directors maintain the regulations that are associated with the business practices.
2) Ethical Conduct: Everyone needs to follow the applied regulations related to the business competition. People cannot perform any of the management work that can be harmful to the organisational reputation.
3) Conflict of Interest: Bothe the directors and the employees eliminate the personal interests while performing the duties. The conflicts between their personal interests should not present within the organisational scenario.
4) Fair Dealing: The employees and the directors of the company endeavour the fair dealings in considering the customers’ interests.
5) Maintenance of the Responsibilities by the Independent Directors: The directors need to keep the records of the employees’ performance skills (Raymondindia.com 2016). In time of need, they can even undertake other development session to improvise their efficient performance level.
6) Equal Opportunity: The Company provides the equal opportunities to the employees of different levels.
It is noted that the maintenance of these specified areas is required to facilitate the initiatives of corporate social responsibility. In fact, considering the ethical codes, the company can even accomplish their goals by achieving a good reputation.
B) Work Policy of M&S: In considering the work policies and ethics of M&S, it is seen that the company has been concentrating on fair supply of the textile products. The company is much focused on ethical trading drive, which is quite beneficial for the suppliers of India. Depending on the higher growth in sourcing from India, the company has become concerned about the resource use. It is noted that M&S keeps the focus on the situational crisis like climate changes, scarcity of resources, and waste factors. The company has invested almost 200 million pounds to execute the business plans regarding the fair supply of the resources (marksandspencer.com 2016). Mostly, the suppliers are much benefitted due to such initiatives. Apart from such initiatives the company eve promotes the training and development session for the existing employees to make them more skilled. This development session serves as the motivational process for the existing employees and creates the significant impact on their performance level.
2) Recruitment Process of the Human Resource Management: Selecting and recruiting the employees are the two initial processes undertaken by the human resource management (Christy 2015). Therefore, the human resource management of M&S has undertaken the recruitment process by selecting the candidates as per the organisational needs. The HR recruiters of M&S focus on the maintenance of the flexibility and time. The frequent recruitments of the new staffs are the unique business practices undertaken by the company. In fact, after recruiting the employees, the company provides the effective training and development session and inform the employees about the organisational policies.
On the contrary, Raymond concentrates on the skilled-based recruitment. The human resource management is indentifying the skilled based employees who can perform more efficiently in the competitive scenario (Tyson 2014). The efficient performance skill is thus taken into account while recruiting the people.
The current research topic has been specifying the importance of the customer relationship management, which deliberately signifies the customers’ loyalty towards the offered products and services. The literature study, on the other hand, makes the clarified perceptions of the segments related to the business concerns. These concerns are connected to the basic needs and requirements of the customers. The connection between the primary and the secondary research would specify the suitable recommendation for the company. The linking with the literature study will be focusing on the hypothetical assumptions that are going to be connected with the primary research.
The study has been highlighting the effectiveness of the CRM process in the emerging market. It is to be noted that the maintenance of the customer relationship is the integral part of the business management. Keeping concentration on such requirements, the information has been gathered from a journal article. The name of the article is Effective Factors of CRM Development written by Fakhraddin Maroofi, Bahareh Moradi Aliabadi, Hooshmand Fakhri, and Hadikolivand. The article was published in Asian Journal of Business Management and it was published in the year of 2013.
The core purpose of the journal is to develop the conceptualised idea about the CRM process. The effectiveness of the CRM process in the emerging market has also been studied in this particular article. It is noted that the current business world has become much competitive. Therefore, the companies have been focusing on promoting the latest technologies to improve the management practices (Maroofi, Aliabadi and Fakhri 2016). The advanced technologies are the driving forces for establishing the communicational networks. Therefore, the companies can directly communicate with the customers to identify their basic needs and demands. The achievement of the satisfaction level will thus strengthen the organisational position in the competitive market.
The article is also discussing the models associated with the CRM implementation. The organisational excellence model guides the management about the structured way establishing the effective relationship with the customers. The guiding essentials for the CRM system are indicating the importance of the frequent interactive session. It is to be indicated that the maintenance of the effective relationship with the customers helps in identifying the problem and improvising the work performance.
Gaps in the Literature
The literature has been specifying the hypothetical analysis of the CRM process maintained by the business companies. However, the major gap found in the literature is the diversified processes undertaken by different industries. There are no verified sources to validate the extracted information as per the case study. The data extracted in this secondary research is needed to be linked with the primary research. If there are the shortcomings in analysing the authentic data in this secondary research, it may affect the further researches based on the primary data collection process. Moreover, the gaps are taken as the major limitation of the entire research study. The major gap found in the journal article is that it does not specify the issues in the textile industry. It discusses the CRM factors of all the industries whereas this particular study is based on the textile industry. On the other hand, this study considers the effectiveness of the companies in maintaining the relationship with the internal stakeholders. However, the article aims to focus on the customer perspectives in most of the cases. The identification of such gaps is thus considered as the major obstacle.
The literature review part has been specifying the theoretical perceptions regarding the subject matter. The assimilations of the secondary data have presented the analysis of the different procedures and business practices undertaken by the different companies. However, the gaps are concerning the lack of the authentic source, which is one of the significant shortcomings in this study. Depending on such secondary research, the primary research will be conducted further.
Each of the research method requires the sequential process to be ensured that will structure the entire research study. According to Hale and Napier (2013), research is particularly defined as the systematic and scientific investigation based on a specific topic. The methods applied for conducting the research in a sequential way and extracting the relevant outcomes are known as the research methodology. This specific research is based on the maintenance of CRM process by the textile companies like M&S and Raymond. The research is needed to be organised in a step wise process that will be beneficial to understand the core concept of the subject matter. Research methodology section includes the rationale for the applied techniques and procedures to conduct the study. The identification, selection, and analysis of the gathered primary and secondary data will be aligned with the critical assessment documents, which will reflect the outcome by addressing the reliability and validity. The applied techniques, philosophies, approaches, and designs will be discussed in the further section.
Research onion is the part of research methodology, which has been describing the different stages of the research process that will be applied while conducting the research study. Saunders, Lewis and Thornhill (2009) developed the research onion by explaining the sequential steps that can formulate the efficient research methodology. In the first stage, the research philosophy has been described and this creates the starting point for the exact research approach. The second step is considering the research approach, which will be applied to the further research conduction. The third step is determining the research strategy whereas the fifth stage is identifying the horizon. The application of the data collection method is concerning the fifth stage. The application of the proper data collection method is the major part of completing the entire study.
Figure 3: Research Onion
(Source: Saunders, Lewis and Thornhill 2009)
Research philosophy is considered as the set of beliefs that concerns the extraction of the reality. Creswell (2013) mentioned that the selection of the appropriate philosophy is the source of distributing knowledge based on the subject matter. The research philosophy has been creating the assumptions for determining the justification of the research. The selection of the proper research philosophy depends on the knowledge, which will be further investigated. Therefore, it can be inferred that understanding the proper philosophy is essential for conducting the entire research study.
Research philosophy is classified into three different types, such as realism, positivism, and interpretivism. The selection of justified research philosophy is necessary for determining the achievement of the pre-determined objectives. The realism and positivism philosophy have been dealing with the revelation of the underpinning truth. It is to be notified that the positivism philosophy does not deal with any kind of human interpretation and assumptions. On the other hand, the interpretivism philosophy deals with the human interpretation and requires the assumptions depending on the extracted information. (Baskerville and Wood-Harper 2016) mentioned that positivism philosophy is mainly assuming the reality, which cannot be changed in any circumstances. However, the positivism philosophy has been selected for conducting this specific research. The justification of selecting this particular research philosophy is provided further.
Positivism philosophy has been concentrating on the extraction of the hidden truth. In research process, the unchangeable data can add more efficiency to the subject matter. The recognition of the hidden truth will be determining the actual scenario that the organisations or the associated customers have been facing repeatedly. The set of beliefs will be considering the phenomenon of the observed researches. On the other hand, the interpretivism philosophy has been focusing on the human interpretation and the required assumptions (Crouch and Pearce 2012). This particular research is based on the relationship marketing, which will benefit the future sustainable business process of both these companies. Hence, it is required to identify the proper philosophy, which can nurture the truth and bring out the authentic and acceptable outcome. Therefore, the selection of the positivism philosophy is justified enough for this particular research study.
The research approach of the study is based on two types of research approaches. The two approaches include deductive and inductive approaches. It is to be noted that the deductive approach has been concerning the development of the hypothetical value related to the subject matter. These hypotheses have been focusing on the pre-existing theory and determining the skilful approach for testing these theories (Hitchcock 2012). One the research approaches is very much needed in the assessment for the purpose of tactful conducting of the research and study specifically in order to handle the situation of the subject matter in a tactful way. The process of deductive approach of the research is required for the purpose of the clarification of the various types of research aspects. The process of the deductive approach of the various types of research is based on the deep observation (Pearl 2014). The research is able to easily analyze the research problems and more specifically and suitable for the recommendations of the various derived research problems.
On the other hand, the inductive approach is mainly focusing on a particular aspect that has been contributing the specific area of the generalised theory. It is noted that the inductive approach has been signifying the observation of the starting point of the study. It does not require developing any particular framework and rather searches for the proper area to fit into the prospective (Leedy and Ormrod 2012). These approaches are usually used for collecting the qualitative data collection process, which is free from the theory formulations. Moreover, it is seen that the elimination of the theoretical perspectives would be benefitting for the future research prospects.
This particular research study is based on the deductive research approach. This has been done in order to contain the prominence of the various types of research approaches and research based on the other reports. In order to avail the several types of research discussion with the managers of the company the deductive research approach of the company needs to be considered for the purpose of the evaluation. While conducting the telephonic interviews it will be easier to pin point the exact outcome of the strategy (Mondada 2013). The process will not lead to any kind of wrong approaches or manipulative work approach related to the work. Hence this type research study is most suitable for the purpose of the deductive approach of the research study.
The research strategy is one of the significant stages of research methodology. Research strategy mainly describes the adoption of the innovative ways, which will be helpful enough for answering the research objectives. According to Leedy and Ormrod (2012), it is usually required to use flexible methods that can be suitable for acquiring the data related to the diversified subject matters. Hence, the strategy in the research process is classified into two different segments, such as Exploratory Research and Attitudinal Research. The exploratory process is generally utilized in a segment where the research is much limited and lacks the extensive data (Segall 2013). The interview process is thus selected under this strategy. On the other hand, the attitudinal process is considered as the ‘subjective method’, which is associated with the diversified perspectives of the people regarding the specific subject matter (Hale and Napier 2013). The utilization of such process determines the formulation of the specific questions that are needed to be answered. These formulated questions vary from different degrees and the respondents need to select the specific answer. In this particular research study, the interview and the survey process has been selected for gathering the data as per the case study requirements.
The case study has been representing the formulation of the skilled CRM process to strengthen the organisational position. The case study has been even specifying the particular textile industry, which has the greater impacts on customers’ minds. Different people perceive for different fashion segments, which are sometimes difficult to understand for the companies. The customer satisfaction leads to the establishment of the proper CRM process. Therefore, it is required to select a proper strategy, which can imply the demands and preferences of the customers on a particular aspect (Flick 2015). The survey process has been the ideal strategy for conducting such research and gathering the information regarding the customers’ perceptions.
On the other hand, since, the study has been focusing on the management process; it is required to understand the organisational practices that address each of the requirements of the customers. In this process, the communication with the management professionals is necessary to discuss the business practices and address the issues related to the CRM process. The interview segment is effective because it is essential to recognise the attitude of the respondents towards the interview questions. Moreover, it is helpful enough in identifying the voice modulation while responding to the questions. Hence, it is one of the helpful strategies to be followed during the conduction of the research.
The research designs are based on several types of dimensions namely descriptive type, explanatory and exploratory research design. Bothe the studies related to explanatory and exploratory research design is based on the limited report designs and does not focus on the different types of perspective of the research study. The possibility of getting the viewpoint of both the techniques is very less in nature. This particular approach is selected to show the relevancy of the extracted data more prominently. The research design is classified into three different segments, such as exploratory, explanatory, and descriptive. It is noted that both the exploratory and the explanatory depends on a particular aspect assimilated in the research study. On the other hand, the descriptive design has been following both the negative and positive perspectives that are needed to be incorporated while conducting the data collection process (Hale and Napier 2013). The judgement here is based on the particular form of the associated data, which can be both way negative and positive.
The research study is based on both the positive and negative approach of the perspectives which are very much significant in knowing the effective standpoint of the subject matter. The other research methods are signifying the dependence on the existing research and the hypothetical values. Therefore, these methods can be somewhat interpretive and require human analytical perspectives. On the contrary, the descriptive method is associated with both the positive and the negative perspectives, which make the research more informative and justified. While conducting this particular research study, it is required to analyse the diversified perceptions of the respondents to make the research argumentative and relevant. Hence, the selection of the descriptive design is justified in such cases.
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Activities of the Research |
1-4 |
4-8 |
8-12 |
12-16 |
16-20 |
20-24 |
24-28 |
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Research Topic |
Ø |
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Secondary Sources |
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Investigation layout |
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Theories and Literature |
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Planning of Research and Operations |
ü |
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Applied Research Techniques |
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Analysis of Secondary Data |
ü |
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Data interpretation and analysis |
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Findings and Analysis |
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Conclusion and Summary |
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Draft Formulation |
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Final Submission |
(Source: Created by Author)
The different research techniques are discussed further:
This particular research study is associated with two types of the data collection process, such as primary and the secondary research. In the first segment, the secondary information is collected from books, journals, websites, and articles. The extraction of the relevant information from these sources will be incorporated to the secondary researches. On the other hand, the primary research includes the survey conduction and the interview session with the managers. The primary data collection generally depends on the direct communication with the business stakeholders to extract the idea about the subject matter (Taylor, Bogdan and DeVault 2015). Hence, these two data collection methods have been applied to this research process. The primary data collection process includes two types of methods, such as quantitative and qualitative data collection process. The quantitative data collection process includes the extraction of the numerical data from the number of responses (Neuman and Robson 2012). The qualitative data collection process on the other hand requires the quality information based on the subject matter. Hence, the qualitative data collection method requires the involvement of the relevant research strategy.
This particular research process is the collaborative form of the primary and the secondary research. The conduction of the primary research is thus needed to follow the proper sampling method. The conduction of the quantitative data collection process needs to follow the Probability, simple random technique to gather responses from a number of people (Flick 2015). The Non-probability, convenience sampling technique is utilized for extracting the quality responses from the management associates.
The case study is based on two different organisations that belong to the textile industry. It is important to note that this particular research process is a mixed method of research methodology. In the quantitative data collection process, the questionnaires with multiple questions were distributed via e-mail. The quantitative research process includes the survey process among both the customers and the employees of the respective companies. From each of the organisations, 100 respondents were selected among which 80 respondents were customers and 20 respondents were employees. The responses of 30 customers and 20 employees were received for analysing the conducted survey results.
In case of qualitative data collection process, a series of interviews has been undertaken. In each of the group of interviews, the questions were asked to 1 senior management personnel and 2-3 customers of each organisation. The interview has undertaken through Skype chats, which is helpful enough in understanding the attitudinal aspects of the participants.
The gathered data is needed to be analysed in a structured process. The skilful analytical tools were utilized to extract the featured outcomes of the research process. The software tool called MS Excel was involved to initiate the responses received from the quantitative data collection process. The statistical analysis would be presented in this research to identify the exact issue related to the CRM process. The tabular and diagrammatical forms were structured to make the analytical part more attractive. Simultaneously, in the qualitative data collection process, the interpreter was engaged to memorize the conversation with the managers while taking their interviews.
The conduction of the research process is not an easier method. It is needed to consider some of the ethical concerns during the conduction of the research process. The major concern is related to the protection of the information of the respondents. In this regard, the Central Government of India has passed the law of protecting the personal data, which is named as Personal Data Protection Act 2013. It is required to ensure that the name of the respondents would be anonymous. In fact, it is also necessary to consider that the data of the respondents used in this process would not be disclosed to any other future study purposes. The respondents would not be persuaded for answering any particular questions and any participant can withdraw their answers at any point of time. The maintenance of the flexibility is thus necessary for conducting the research in an ethical way.
The chapter describes the different methodological assimilations that are applied to this study to conduct the research ethically. Application of the justified research philosophy, approach, designs, and strategy is structuring the research process sequentially. Following sequential process in an ethical manner is essential. Depending on such methods, the further primary research has been conducted in a structured way.
The chapter will be presenting the analytical report of the collected primary data. The study is highlighting the effectiveness of the CRM process on the emerging market. The subject matter has been highlighting the responses and feedback received from the internal and the external stakeholders. The quantitative data questionnaire is formed to derive responses from the employees and customers of two respective companies. On the other hand, the customers and the managers of these two organisations will be taking part in the qualitative data collection process. The gathered data would be presented through the tabula and diagrammatical structure. The obtained idea from this analysis would be documented for providing several future recommendations.
Questions for 30 customers from each of the organisations (Raymond and M&S)
Q.1) How far are you satisfied with the quality of the fashion garments offered by the company?
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Very Satisfied |
10% |
17% |
3 |
5 |
30 |
30 |
|
Satisfied |
13% |
23% |
4 |
7 |
30 |
30 |
|
Neutral |
40% |
33% |
12 |
10 |
30 |
30 |
|
Dissatisfied |
20% |
20% |
6 |
6 |
30 |
30 |
|
Very Dissatisfied |
17% |
7% |
5 |
2 |
30 |
30 |
Quality Satisfaction of the Customers
(Source: Created by Author)
The above tabular and the diagrammatical structure is indicating the percentage of the product quality ensured by the customers. As per the statistical data analysis, it was found that majority 40% respondents from M&S stood biased in this context. The analysis of the satisfaction ratio is reflecting that almost 10% of the respondents are very satisfied with the quality of the products whereas 13% of the respondents were satisfied. On the contrary, it was found that almost 20% of the respondents were dissatisfied, which is followed by 7% of the very dissatisfied respondents.
In considering the responses obtained from the customers of Raymond, it is seen that majority 33% of the respondents provided the neutral responses. However, in analysing the satisfactory aspects, it has been seen that almost 17% of the customers are very satisfied whereas 23% of the respondents are much satisfied. On the other hand, the analysis of the dissatisfactory aspect is reflecting that 20% of the respondents are dissatisfied whereas remaining 7% of the customers are fully against it.
The obtained idea from the above responses is suggesting that majority of the respondents from both the companies are quite biased in this segment. However, in comparing the customers of these two companies, it is seen that the customers of Raymond have responded in much positive way. Comparatively, the customers of M&S are specifying the dissatisfaction on the quality parameter of the textile materials provided by the company. However, since, most of the people stood biased against such question, it can be predicted that the companies need to be somewhat attentive towards the material quality.
The literature review has mentioned that the poor quality of the textile products can lead towards the dissatisfaction. Therefore, the companies need to keep the focus on the quality parameter of the clothes, which is the major weapon for gathering the customer support. The customers of Raymond are much satisfied with the quality whereas M&S needs improvisation in this segment.
Q.2) How far do you agree that the customer care executives of the company have been responsive enough through the media source?
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Highly Agree |
17% |
10% |
5 |
3 |
30 |
30 |
|
Agree |
27% |
20% |
8 |
6 |
30 |
30 |
|
Neutral |
23% |
30% |
7 |
9 |
30 |
30 |
|
Disagree |
13% |
23% |
4 |
7 |
30 |
30 |
|
Highly Disagree |
20% |
17% |
6 |
5 |
30 |
30 |
The responses received from the quantitative data collection process, it is seen that the majority 27% of the respondents from M&S agreed with the efficient customer care services of the company. In fact, this ratio is followed by 17% of the respondents who have been supporting such statement. On the other side, the responses received from the customers of Raymond are indicating that majority 30% stood biased in such context. It is also found that almost 20% of the respondents agreed with the fact that the customer service executives have been responsive enough through social media. Almost 10% of the respondents are highly agreed with such statement.
In analysing the responses from these two companies, it has been seen that comparatively the customer care executives of M&S are more responsive. In this current scenario, the extensive use of the internet is much prominent. Therefore, it is seen, people are much fond of online shopping. Moreover, the customers seek for the online informative sites where they can get the answers of their queries. Hence, it is important for the customer care executives to be much responsive towards the customers’ questions. The development of the customers’ services is necessary for achieving the positive ‘word of mouth’. The idea obtained from the literature review is reflecting that the customer service is necessary in order to specify the needs of the customers. If any company can be responsive enough to resolve the queries raised by the customers, it will increase the reliability. The analysis of the result is ensuring that the customer service of M&S is more preferable than the customer services provided by Raymond. Hence, the improvisation is needed to be taken into
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Very expensive |
33% |
27% |
10 |
8 |
30 |
30 |
|
Somewhat Expensive |
37% |
33% |
11 |
10 |
30 |
30 |
|
Priced right |
10% |
17% |
3 |
5 |
30 |
30 |
|
Somewhat inexpensive |
7% |
13% |
4 |
3 |
30 |
30 |
|
Very Inexpensive |
13% |
10% |
2 |
4 |
30 |
30 |
The obtained idea from the above table and graph has been highlighting that 37% of the respondents of M&S think that the price of the products is somewhat expensive. This ratio is followed by 33% of the respondents who think that the price is very high. In case of Raymond, it is seen that almost 33% of the respondents think that the products are somewhat expensive whereas 27% of the respondents mentioned that the price is highly expensive.
In analysing this data, it has been seen that the price of the products in M&S is much higher than the price of Raymond. Most of the respondents indicated about the higher pricing structure of the products offered by the respective companies. The higher charge usually includes the cost of textile materials. The high quality products are usually higher in price.
The price of the products is considered as the major concerns for the customers. The literature review even has specified such concern that determines the customers’ satisfaction. The price of the M&S product is much higher and it is not always affordable. However, in this competitive world of business, the higher pricing structure can be challenging for the companies.
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Quality |
17% |
20% |
5 |
6 |
30 |
30 |
|
Customer services |
13% |
30% |
4 |
9 |
30 |
30 |
|
Product variations |
10% |
33% |
3 |
10 |
30 |
30 |
|
Price |
57% |
10% |
17 |
3 |
30 |
30 |
|
Others |
3% |
7% |
1 |
2 |
30 |
30 |
(Source: Created by Author)
Findings and Analysis
The above table and graph are showing that majority 57% of the M&S customers mentioned about the higher pricing structure whereas 10% of the Raymond customers mentioned about this segment. Almost 17% and 20% of the respondents respectively from M&S and Raymond mentioned that the quality of the products needs much improvisation. The percentage of the respondents from M&S and Raymond regarding the improvisation of the customer service is respectively 13% and 30%. It is also seen that almost 10% of the respondents from M&S require improvement in product variation whereas 33% of the respondents from Raymond mentioned about the same aspect. Finally remaining 3% respondents from M&S and 7% respondents from Raymond mentioned some other aspects (Referred to Appendix: Dialogue Box 4:4).
It is noted that the major concerns of the M&S customers is the expensive pricing structure of the products. On the other hand, most of the customers of Raymond presented their concerns about the product variations. However, apart from these two segments, respondents mentioned about the customer services and quality of the products. In fact, some respondents raised their concerns about the effective promotional activities and the informative websites for online shopping.
The literature review discussed about such promotional activities, which can attract the customers in a significant manner. Concentrating on the major concerns, it can be inferred that M&S need to keep the focus on the price of the textile products. On the contrary, Raymond needs to keep the focus on product variations to attract more customers towards the brand. In fact, the effective promotional activities are also fruitful in drawing the attention of the potential customers.
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Customer Service |
40% |
13% |
12 |
4 |
30 |
30 |
|
Attractive promotion |
13% |
30% |
4 |
9 |
30 |
30 |
|
Pricing Structure |
10% |
27% |
3 |
8 |
30 |
30 |
|
Quality |
27% |
20% |
8 |
6 |
30 |
30 |
|
Others |
10% |
10% |
3 |
3 |
30 |
30 |
The above statistical analysis has been signifying that majority 40% of the respondents from M&S are impressed by the customer services. This feature has captured the attention of 13% customers of Raymond. On the contrary, it is seen that almost 30% of the respondents from Raymond mentioned the effective promotions are the best feature that attract them the most. Only 13% respondents from M&S agreed the same. However, apart from these features, it is seen that the respondents from Raymond are more satisfied with the pricing structure whereas the percentage of the M&S customers is comparatively low. The other mentioned features are also quite justified (Referred to appendix: Dialogue box 4.5)
The obtained idea from the above analysis has been ensuring that it is required for the companies to keep focus on several segments to draw the customers’ attention. Different company formulate the diversified strategies to determine their business profits. While some companies keep the price low, some promote the brand in an effective way. Similarly, the most attractive features of M&S are the customer services and quality. Raymond customers, on the other hand, prefer the effective promotional activities and the pricing structure. However, it is clear that both of the companies need to pay attention on the improvisation in different segments.
The literature review discussed that the companies undertake different types of attractive features that are necessary for drawing the attention of the customers. Proper pricing strategy, effective customer services, promotional activity, and quality parameter are the major attractive feature that can help a company to promote their brand identity.
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Loyalty Cards |
33% |
30% |
10 |
9 |
30 |
30 |
|
Discounts |
40% |
37% |
12 |
11 |
30 |
30 |
|
Events |
17% |
20% |
5 |
6 |
30 |
30 |
|
Others |
10% |
13% |
3 |
4 |
30 |
30 |
The loyalty is established when the consumers are receiving enough facilities from the purchase. Both M&S and Raymond ensure their loyalty programme by different means. It is seen that the discount facilities in M&S is more effective than Raymond. On the contrary, the arrangements of the events are much fascinating the customers of Raymond. While using the loyalty cards, the customer receive the discounts and other benefits as well. However, these benefits are for the potential customers to enhance their loyalty towards the brands. The specified aspects in the dialogue box are mentioning about the mobile marketing and online pages. Improvisation on such segments would be much beneficial for the company to attract the customers in future.
The obtained idea from the literature review indicates that the consumers seek different loyalty bonuses from the company. Similarly, both M&S and Raymond have been concentrating on different loyalty programmes that can attract the consumers towards their textile products. It is even helpful in securing the organisational position in the future.
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Very High |
17% |
20% |
5 |
6 |
30 |
30 |
|
High |
30% |
17% |
9 |
5 |
30 |
30 |
|
Average |
33% |
40% |
10 |
12 |
30 |
30 |
|
Low |
13% |
13% |
4 |
4 |
30 |
30 |
|
Very Low |
7% |
10% |
2 |
3 |
30 |
30 |
The above analysis is showing that most of the respondents from both M&S and Raymond provided the biased responses in mentioning about the price feasibility. Almost 30% of the respondents from M&S mentioned that the price is high whereas almost 17% of the respondents from Raymond also mentioned the same about the product price. Concentrating on such percentages, it can be inferred that the high price structure has been affecting the customers’ perception.
The obtained idea from the above table and graph is indicating that the pricing structure set by both the organisation is not so much feasible to the customers. However, it cannot be denied that the organisations pay the attention towards the quality of the textile materials while designing the clothes. The literature review specifies that the price is needed to be feasible for the ordinary customers. The survey result is indicating that both of these companies are maintaining high pricing strategies, which are not feasible enough for the consumers.
Questions for 20 Employees from M&S and Raymond
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Discount Facilities |
45% |
35% |
9 |
7 |
20 |
20 |
|
Organising Events |
40% |
30% |
8 |
6 |
20 |
20 |
|
Loyalty Cards |
10% |
20% |
2 |
4 |
20 |
20 |
|
Others |
5% |
15% |
1 |
3 |
20 |
20 |
The above tabular and diagrammatical structure is showing that majority 35% of the respondents from Raymond mentioned about the discount facilities, which can be beneficial. In fact, this ratio is 45% in case of M&S and it is quite higher. On the other hand, almost 40% of the respondents from M&S mentioned about the event arrangement. Similarly, almost 30% of the employees of Raymond mentioned about the same segment.
The obtained idea from the above analysis has been showing that most of the employees think that providing the discounts to the loyal customers would be beneficial for strengthening the relationship. It can be mentioned that the consumers of each organisation would like to get involved with the brand if they would receive the proper facilities. The loyalty cards and fashion events are the most attractive features for the loyal customers. In fact, the employees think that communicating with the customers through mobile marketing would also preferable for strengthening the relationship with the customers. They can easily update the customers about the latest trends and the benefits for the members.
The promotion of the loyalty programme is effective enough to engage the customers for the future prospects. As per the literature review, it has been seen that the employees have to take the responsibility in maintaining the skilful CRM process by promoting loyalty programmes. The report derived from this analysis is also indicating that both of these organisations are trying to facilitate the loyalty programmes for their customers.
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Social Networking |
30% |
30% |
6 |
6 |
20 |
20 |
|
Via e-mail |
25% |
40% |
5 |
8 |
20 |
20 |
|
Direct Communication |
20% |
15% |
4 |
3 |
20 |
20 |
|
Events |
15% |
10% |
3 |
2 |
20 |
20 |
|
Others |
10% |
5% |
2 |
1 |
The result obtained from the quantitative data collection process, it is seen that almost 30% of the employees from both M&S and Raymond preferred the social networking sites as the better communication channel. However, it has been seen that majority 40% of the employees from Raymond preferred the e-mail option for the communicational purposes whereas this ratio is only 25% for the employees of M&S. The other specified segment is mentioned in the dialogue box 4.9 that is attached on the appendix.
It is to be indicated that the social networking sites have become much popular among the customers in this current scenario. Therefore, the employees prefer the internet medium to communicate with the customers who are in different places or states. Moreover, the companies are even designing the websites in such a way that the customers can receive the information as per their interests. However, the direct communication is also preferable in understanding the basic needs and demands of the customers.
The literature review determines that the proper communication channel is the driving force for establishing the skilful CRM process. The employees of M&S and Raymond are ensuring that the companies have been maintaining the proper communication process. It is even helpful for maintaining the effective
|
Option |
Response Rate (%) (M&S) |
Response Rate (%) (Raymond) |
Number of Respondents (M&S) |
Number of Respondents (Raymond) |
Total Respondents (M&S) |
Total Respondents (Raymond) |
|
Very Satisfied |
15% |
10% |
3 |
2 |
20 |
20 |
|
Satisfied |
20% |
15% |
4 |
3 |
20 |
20 |
|
Neutral |
35% |
30% |
7 |
6 |
20 |
20 |
|
Dissatisfied |
25% |
25% |
5 |
5 |
20 |
20 |
|
Very Dissatisfied |
5% |
20% |
1 |
4 |
20 |
20 |
The above result is highlighting that Majority 35% and 30% of the employees respectively from M&S and Raymond gave the biased responses about the training facilities. However, it is seen that almost 10% of the Raymond employees are very satisfied with the training session whereas the ration of the very satisfied employees 15% in case of M&S. However, most of the employees have shown their dissatisfaction in the training purposes.
The analysis of the above data is indicating that both M&S and Raymond need to bring the improvisation on their training session. The training facilities are taken into account as the motivational aspects. Hence, the companies need to pay attention towards such concerns raised by the employees. In fact, it would be helpful in retaining the employees for the future prospects. Moreover, the efficient working skills would be beneficial enough in bringing the fruitful outcome.
The literature review suggests that the employees have to take the responsibility in establishing the effective relationship with the consumers. The employees have to be knowledgeable enough to fulfil the queries. Hence, the organisations need to provide the proper training and development sessions to the employees. Such training sessions are helpful, as the employees derive the proper knowledge about the product features. Simultaneously, the employees can communicate with the customers and understand their needs and demands.
In the qualitative data collection process, the first question was about the maintenance of the CRM process by each of the organisation. In the first segment, the senior management personnel of M&S replied that the company maintains the communicational transparency through different communication channel. It is helpful for understanding the exact needs and demands of the consumers. On the other hand, there were 2-3 customers who participated in this session. They mentioned that they visit the fashion shows arranged by the company. Moreover, sometimes they are updated by the company via different sources. However, they presented their concerns about the improvement of the communicational channel, which can be beneficial to maintain the proper relationship.
Similarly, in responding to such question, the management personnel from Raymond stated that we are improving our customer services. The customers can present their queries to our available executives and can raise their concerns about their expectation. The customers replied that if they can avail the opportunity to purchase the stylish garments more for the women and children; it would be satisfying their needs. Hence, the product variation is needed for Raymond garments.
The second question was asked about the localisation process undertaken by the respective companies. The localisation process is interconnected with the corporate social responsibilities, which is needed to be maintained by the companies. In such aspect, the management personnel of M&S referred that the company has been trying to improve the quality parameter of the textile materials. On the other hand, the customers mentioned that the price of the products is needed to be concentrated. Sometimes, it becomes too expensive for the customers to purchase the fashion garments. Hence, the pricing strategy is needed to be concentrated.
The responses received from the management personnel of Raymond revealed that the company has been increasing the number of the stores, which is beneficial for the customers to visit as per their convenience. The customers of this company are pointing out that the customer service has been improved. The formulation of different web pages is helpful for them to generate information about the fashion garments.
In case of responding about the communication facilities, the management personnel of M&S pointed out that the company usually maintain the e-mail and direct communication process to communicate with the customers. The customers of this company mentioned about the social networking sites are the main medium that connects them with the company.
The management personnel of Raymond mentioned that the company is usually dealing through the direct communication process and event arrangements. The various events are organised for introducing the latest style segment of the brands. The customers of this company also mentioned about the effective events for the communicational purposes. The arrangements of the events is somewhat introducing the customers with their needs and expectations.
In mentioning about the challenges, the management personnel of M&S indicated that the company has been using the high quality textile materials for the garments. Hence, the price is quite high. Similarly, the customers mentioned about the challenges they have been facing while purchasing the garments from M&S.
On the other hand, the management personnel of Raymond mentioned that it is sometimes too difficult to understand the requirements of the customers’ needs. The customers are much aware of the current competition and their demands are changing accordingly. The customers replied that the executives The results received from this primary data collection process are analysing the perception of the customers, employees, and the management of the company. In concentrating on such aspects, the conclusion will be discussed in the further chapter. The results would be linked with the literature review parts to generate the proper information about the research study.
The study is focusing on the Impact of CRM in Emerging Market in special reference to the case study of Raymond and M&S. The assimilations of the primary and secondary data are highlighting the importance of maintaining proper customer relationship to strengthen the organisational reputation. The study provides the in-depth knowledge about the CRM process that is necessarily needed to be implemented. The purpose of the study is to identify the diversified processes of CRM, which strengthen the organisational reputation. Therefore, I have used the proper methodologies to complete this study. The objectives of the study are as follows:
- To explore the concept of CRM process and the necessity of maintaining such process
- To identify the effects of CRM process in the emerging market in considering the localisation process
- To critically analyse the loopholes associated with the implementation of the CRM process
Conclusion
The chapter will be concluding the information received from both the primary and the secondary research. The results received from the primary data analysis process will be aligned with the literature discussed in the secondary data collection ports. The objectives will be linked accordingly. Depending on such conclusion, the suitable recommendation would be provided. The future scope of this study will also be discussed further.
The major limitation of this research is the time restriction. The CRM process considers the vast area for research. If the time was not limited, the study would have been included more information. Another major limitation was the biased responses of the participants in the survey process. It is quite difficult to judge the biased responses to present some recommendations. These two restrictions have made the study somewhat limited.
To explore the concept of CRM process and the necessity of maintaining such process
M&S and Raymond have been maintaining the different CRM process to strengthen their relationship with the customers. As mentioned in the literature review, the textile companies try to maintain the product quality of the fashion garments by offering the best prices. In fact, as per the results received from the quantitative and qualitative data collection process, it is highlighted that the maintenance of such aspects is beneficial to generate customer support. Therefore, it can be mentioned that the CRM process is enhancing the reliability among the customers, which drive them for the future purchases.
To identify the effects of CRM process in the emerging market in considering the localisation process
The emerging market is much fascinated by the advanced technicalities and innovations. In addition to it, the use of the internet is also enhanced to communicate with the customers. As mentioned in the literature review, people spend much time in social media and they do online shopping as well. On the other hand, the results from the primary data collection process are indicating that the customers are much fond of expressing their needs thorough different communication channel. In considering the localisation process, the maintenance of the effective quality and the pricing structure is also much important. Therefore, it can be interpreted that the assurance received from the companies increase the sense of reliability. This trust is necessary for the sustainable management of the companies. To critically analyse the loopholes associated with the implementation of the CRM process
The companies, employees, and the customers face several challenges during the implementation of the CRM process. As mentioned in the literature review, companies sometimes are unable to understand the basic needs and demands of the customers. In fact, the results derived from the primary research are also reflecting the concerns of the customers. The customers even concerned about the higher price of the garments. The customers complain about the service executives who are sometimes unable to resolve their queries. Therefore, it is required for the company to train the employees in a proper manner. The information received from the employees or the executives is necessary to address the concerns of the customers. Hence, the challenges are somewhat affecting the CRM process implemented by M&S and Raymond. Focusing on such challenges, the preferable recommendation will be provided further.
The challenges mentioned above are the higher concerns for both the companies and the customers. Recognising such challenges the following recommendations are provided further: