MARKETING MANAGEMENT

REPORT

SUBMITTED BY- YASHVI

BANSAL
[BBA(B)-FY]

SUBMITTED TO-
PROF. TANU NARANG
(FACULTY OF MARKETING
MANAGEMENT-SCHOOL OF
BUSINESS)
Customer Relationship Management(CRM)
Customer Relationship Management (CRM- as referred in the report) is an approach to
manage a company's interaction with current and potential customers.
It uses data analysis about customers' history with a company to improve business
relationships with customers, specifically focusing on customer retention and ultimately
driving sales growth.
Through the CRM approach and the systems used to facilitate it, businesses learn more
about their target audiences and how to best cater to their needs. Customer relationship
management (CRM) is the combination of practices, strategies and technologies that
companies use to manage and analyse customer interactions and data throughout
the customer lifecycle, with the goal of improving customer service relationships and
assisting in customer retention and driving sales growth.[1]
https://searchcrm.techtarget.com/definition/CRM

This Report will help us to have a better understanding of

the expectations and benefits of CRM -

Setting expectations upfront is a tried-and-true sales

technique to help build customer relationships.
An understanding of how a CRM will—or will not—
impact a business helps maintain realistic expectations
within an organization.

BENEFITS OF CUSTOMER RELATIONSHIP

MANAGEMENT

The sole aim of CRM is to develop strong and deep relationships with the customers.
According to the concept customer is the king and the needs and desires of the
customers hold a vital place in the minds of the business and businessmen.
The benefits of customer relationship management are –

1) Improved Informational Organization-

The more you know about your customers, the better you’ll be able to provide them
with the kind of positive experience that really pays off. Everything that they do, and
every interaction that they have with your organization needs to be identified,
documented, and recorded. To do this, you need to move beyond the sticky-notes and
disorganized filing cabinets, and start utilizing advanced organizational technology that
can not only accurately quantify and categorize data for easy future reference, but also
make that data available across departments. Thanks to CRM this all becomes a
possibility, it allows you to store a vast list of customers and any important information
regarding them. Access to their file is even more convenient than before due to the
cloud, so no matter who it is that is helping the customer in question, they’ll have the
same actionable data instantly available. This will result in less wasted time for clients
and employees.
2) CRM for Enhanced Communication -
As mentioned above, CRM makes it possible for any employee to provide the same high
level of service, by having access to the same customer data. After all, even if your
customers have a single, main point of contact, there’s a good chance that at some point
that contact may not be available, and the client will be forced to have to work with
someone new. When that happens, many customers face the unhappy prospect of
having to ‘start fresh’ with someone who doesn’t understand their own unique
preferences and issues. CRM does away with this concern, by making detailed customer
information communicable to whomever might need it. As such, it won’t matter who it
is that is currently assisting the client, because they’ll be working from the same
information. And given that CRM is cloud-based and accessible from any device with an
internet connection, the communication benefits of mobile CRM are not limited to the
office.

3) CRM Improves Your Customer Service-

Your time is valuable, but so is your customers’ time. And, should your customers
experience a problem that needs resolution, they’re going to be unhappy unless that
problem can be taken care of quickly. With CRM, as soon as a customer contacts your
company, your representatives will be able to retrieve all available activity concerning
past purchases, preferences, and anything else that might assist them in finding a
solution. In many cases, your more experienced representatives, armed with past
information and history, will be able to locate a solution within the first few minutes,
thanks to an accessible database of potential issues. And, should a solution not be
readily apparent, then bringing in other representatives, or even crowdsourcing for
answers through customer portals, is a simple matter. With CRM, customer support
becomes a walk in the park.

4) Automation of Everyday Tasks-

Completing a sale is never as easy as just getting a customer to agree to commit. Along
with the surface details of any sale, there are hundreds of smaller tasks that must be
completed in order for everything to function properly. Forms need to be filled out,
reports need to be sent, legal issues need to be addressed—these ancillary chores are a
time consuming, yet vital aspect of the sales process. The best CRM systems are
designed to take the burden of many of these tasks from off the shoulders of your
employees, thanks to the magic of automation. This means that your representatives
will be able to focus more of their efforts towards closing leads and resolving customer
pain points, while the automated CRM system takes care of the details.
5) Greater efficiency for multiple teams-
Automatically stored communication allows you to view emails, calendar and phone call
details in one easily accessible place. Add that to the ability for multiple teams to access
the same information, it simply sky rockets the amount of achievable progress. Sales,
marketing, and customer service teams can share valuable information about clients to
continue to funnel them down the pipeline to get the desired result of closing a sale,
knowledge of new products, or excellent customer service. Every department can now
tag team to get the right information to the right individual. With this new found ease,
teams can seamlessly work together to improve the bottom line.

6) Improved Analytical Data and Reporting-

Miscalculated data should not be the reason you cannot succeed, with CRM this is no
longer a possibility. CRM systems store information in one place which leads to
improved analyzing of the data as a whole. Easily integrated with different tools or
plugins, you have the ability to generate automatic reports to maximize your time.
Personalize your dashboard views to quickly locate information needed such as
customer information, sales goals, and performance reports to reach untapped
opportunities. With better reporting data you can make resourceful and effective
decisions to reap the rewards in customer loyalty and long run profitability.[2]
https://www.salesforce.com/hub/crm/benefits-of-crm/#n

Evolution of CRM

A CRM system will help an organisation manage all of its relationships. The world of CRM is
evolving from being a static source of information, to being a fully interactive business
management tool. In the past, CRM projects have been notoriously high cost and as a result
have been associated with larger companies. However, implementing a CRM system is now
achievable for smaller companies as a result of the development of smaller applications for
the mid-market.
Another phenomenon which has had an Impact on the lifecycle of CRM is the explosion of
the social networking world. The rise in social networking sites such as Twitter, Facebook
and LinkedIn have facilitated the introduction of social CRM. This has bought a number of
benefits to businesses, including providing them with a new medium through which they
can communicate with customers, prospects and suppliers. Social CRM helps manage the
development of relationships using social networking.[3] http://www.yourarticlelibrary.com/project-
reports/project-report-on-customer-relationship-management-crm/85087 [3]
AMAZON AND CUSTOMER RELATIONSHIP MANAGEMENT

From free two-day shipping to streaming movies and grocery delivery, Amazon Prime aims
to make customers’ lives easier in just about every area. The company is always innovating
and finding new ways to solve customer problems. It also has a responsive service team that
is empowered to provide gift vouchers and free months of Prime service if anything goes
wrong. [4] https://www.forbes.com/sites/blakemorgan/2018/02/15/the-10-most-customer-
obsessed-companies-in-2018/#175ebf516ba1

WAYS AMAZON USES CRM-

1. Tailored offers and promotions

When you buy something on Amazon for the first time, Amazon asks you to set up an
account. Why? Because it makes for a smoother and more personalised experience, as you’ll
get recommendations based on your interests.
This allows Amazon to tap back into what you like and sell to you on an ongoing basis.
Amazon’s CRM brings you tailored offers and promotions based on your past purchases.

2. Personal data collection and storage

Amazon’s CRM stores your personal and payment details when you create an account to
buy something. And no, it’s not for any sinister, shadowy purposes – it simply makes it that
much easier for you to purchase again. You can order with one click and have your item
arrive the next day. With that in mind, it’s not hard to see why Amazon are crushing the
competition.

3. Recommendations
Another great thing about Amazon’s CRM,the recommended products feature. When you’re
logged in, Amazon will recommend products that might interest you based on your past
purchases. You can also check out what people viewing an item also bought, and explore
related products with ease. Offering these temptations without pressuring the customer is
what’s helping Amazon turn over billions every year.

4. Customer support
The big one. You can deal with almost every issue you might have as an Amazon customer
through your account. The returns process is all dealt with online too. And if there’s
something that does require you to speak with a customer service assistant? CRM to the
rescue again. Any Amazon staff you speak to will have your details at the ready, meaning
quick and efficient resolution to all problems – and more satisfied customers.

5. Evolution of services
Amazon’s use of CRM has been influential in the growth of its services. Its dedication to its
customers led to the invention of the Kindle, while Amazon’s online Kindle Marketplace
offers a tailored experience with unique book suggestions.
Amazon Prime Video has also become one of the biggest streaming services out there. It
offers hand-picked film and TV choices for each customer, which wouldn’t be possible
without CRM.[5] https://www.expertmarket.co.uk/crm-systems/amazon-crm-case-study#top
ZARA AND CUSTOMER RELATIONSHIP MANAGEMENT

Zara is an internationally known clothing company, particularly in Europe. Originating in

Spain, Zara has over 1,700 stores all over the world and is well-known for being able to
develop products and have them available in stores within two weeks, well above the
average rate for the fashion industry of around six months.
The company operates on a zero advertising policy which means that it has to keep
attracting customers in other ways in order to keep making profits and stay relevant in face
of tough competition from similar companies such as H&M and Benetton.
International clothing brands such as Zara recognise the benefits of CRM software to help
them understand the needs of their customers, what they like and don’t like. They use this
information to better relate to them as well as find ways of boosting their profile and
profits.
Zara has developed effective relationships with its customers, and thanks to the benefits of
CRM, its customers are loyal and make continued visits throughout the year, with the
average customer visiting 17 times compares to other stores’ average of four.
What’s impressive about Zara is that it is able to have such a dedicated and loyal customer
base despite the lack of advertising and therefore continued awareness.
Using CRM software, Zara is able to collect information about sales and work out which
products are popular, and with this data easily to hand, designers are able to produce new
items quickly based on the latest trends and in styles and colours preferred by their
shoppers.
As they are able to do this with a short turn around before items hit stores, they can ensure
that they stay ahead of their competitors and always showcase the latest fashions to their
customers. They also ensure that they produce their clothing items in limited quantities to
make them more exclusive, and more desirable by their customers.
By listening to the needs of their customers, Zara has achieved what most fashion retailers
can only dream of achieving. The majority of their clothing sells at full price, rather than less
than half like most of its competitors. By shunning traditional marketing techniques such as
advertising, discounts and gimmicks, Zara have created a clothing brand which is respected
and coveted and stays ahead of the pack.
Zara is a fantastic example of CRM data used effectively in order to improve a brand and
keep current with its customers. Other brands and businesses, regardless of their size, can
learn from this example and use the views and habits of their customers to best appeal to
them and to encourage new customers and therefore boost sales, boost brand awareness
and boost profits as well.
Using CRM software, Zara has streamlined its customer data collection and found ways to
improve its products and services as well as connect with customers at a more informed
level. Your business can also benefit from the features and service available with CRM
software from top providers.
[6] https://www.expertmarket.co.uk/crm-systems/zara-crm-case-study

APPLE AND CUSTOMER RELATIONSHIP MANAGEMENT

Apple is one of the most well-known retailers of innovative technology, from personal
computers to handheld devices such as tablets and mobiles. It is the third largest maker of
PCs in the US, and since 2001 has had a much higher focus upon retail and customers than
its competitors. The customer relationship is now an essential part of Apple’s growth
strategy, and is almost as much of a brand feature as the iPad or iPhone.
APPLE’S NEED FOR CRM
 For a decade now, the company has been using CRM policy in its customer service
departments which includes being in touch with customers who have used their in-store
products through emails in order to assess the feelings of the customers when they are
talking to Apple staff.
 To maintain a long term relationship between Apple and its clients, the company has been
using CRM in their retail base. The focus of their strategy is to inform and educate the
customers about the benefits of having their high end products rather than concentrating
only on selling their products. They attract the customers by their product features and lure
them so that they eagerly want an Apple product. Apple has enhanced the relationship with
the clients and made it an experience for them.
 The main idea behind Apple’s CRM policy is data collection. Whether a customer buys an
Apple product like iphone, ipad etc. or uses the Apple software i.e. iTunes they have to
register using their unique Apple ID. The entire information is used to help define
advertising so that it is more directly targeted to the potential customer.
 Apple has created a CRM tool which is entirely cloud based and it is not only used by them
but also used by their customers. It is a pyramid effect of businesses benefiting from Apple’s
CRM data collection which Apple can also use.
WAYS APPLE USES CRM-

1)The aim of CRM is to improve the customer service experience of existing and potential
customers. Apple allows its customers face to face interaction with its technicians for in
depth discussion of problems and solution through its Apple Genius process of tech support.

2) Apple has definitely made use of CRM so extensively by managing face to face contact
and by enhancing brand awareness. They focus on CRM bases advertising and targeted
emails which has help them produce a lifetime experience rather than simply a purchase.

3) The company being a successful multinational company needs a system of CRM such that
it reaches the customers on a one to one basis. This will also guide and motivate small
businesses for similar type of interpersonal CRM.
[7] https://www.ripublication.com/gjfm16/gjfmv8n2_05.pdf
Electronic Customer Relationship Management

E-CRM refers to marketing activities, techniques and tools conveyed on the web
using e-mail, technologies and websites, mining and warehousing.

An effective E-CRM increases the efficiency of the processes as well as improves

the interactions with customers and enables businesses to customize products and
services that meet the customers’ individual needs.The process combines software,
hardware, processes and management’s commitments geared toward supporting
enterprise-wide CRM business strategies.
 E-CRM system tracks a customer’s history through multiple channels in real time,
creates and maintains an analytical database, and optimizes a customer’s relation in
the three aspects of attraction, expansion and maintenance.

The benefits of E-CRM include the following:

 Improved customer relations, service and support

 Matching the customers' behaviour with suitable offers
 Increased customer satisfaction and loyalty
 Greater efficiency and cost reduction
 Increased business revenue

[8]
https://www.techopedia.com/definition/30914/electronic-customer-relationship-management-e-crm
CUSTOMER RELATIONSHIP MANAGEMENT STRATEGIES

The need for customer relationship management grew out of changes to the buyer-seller model.
This shift away from transactional sales and marketing behaviours, and toward a customer-centred
model started in the 1970s. Relationship marketers refined the model in the 80s, and in the 90s,
technology accelerated changes even further. In the 2000s, the complexities of the internet,
advances in social media technology, and empowered customer behaviour changed the model
forever. The result was a shift in perspective regarding how to address customers as the primary
business asset. 

 Customer relationship management strategy needed to achieve the following:

1. Govern how to satisfy customers beyond developing good products and services

2. Help retain existing customers to maximize efficiencies and reduce the cost of acquisition

3. Ensure customer satisfaction and a memorable brand experience

4. Improve the overall relationship between the business entity and specific audiences

In order to have the right strategy, you must do the following:

1. Choose a distinctive value proposition.

2. Tailor your activities to that value chain.

3. Make trade-offs (choose what not to do) that differ from your competition.

4. Fit the parts of strategy together across the value chain.

5. Find continuity over time.

[9] https://www.smartsheet.com/crm-from-strategy-to-implementation
 REFERENCES

[1] https://searchcrm.techtarget.com/definition/CRM

[2] https://www.salesforce.com/hub/crm/benefits-of-crm/#n

[3] http://www.yourarticlelibrary.com/project-reports/project-report-on-customer-
relationship-management-crm/85087[3]

[4]https://www.forbes.com/sites/blakemorgan/2018/02/15/the-10-most-customer-
obsessed-companies-in-2018/#175ebf516ba1

[5] https://www.expertmarket.co.uk/crm-systems/amazon-crm-case-study#top

[6] https://www.expertmarket.co.uk/crm-systems/zara-crm-case-study

[7] https://www.ripublication.com/gjfm16/gjfmv8n2_05.pdf

[8]https://www.techopedia.com/definition/30914/electronic-customer-relationship-
management-e-crm

[9] https://www.smartsheet.com/crm-from-strategy-to-implementation