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Impact Of Crm On CLIENT SATISFACTION And Retention Management Essay

1. Introduction

Customer relationship management (CRM) is a set of strategic practices and is a broadly used term that covers different functions and concepts of organisations in aspects of operational, collaborative and analytical frameworks (Ramsey, 2010). There are many benefits the company could derive upon implementation of CRM systems. These benefits are: customers-suppliers linkage, access, hassle-free communication, and reduction of implementation cycles, centralised and regularised systems update, centralisation of maintenance and augmentation competence and homogenisation of CRM technology (Kelly and Gillbert, 2003) (Harrington, 2008) (Taylor, 2004) (Hunter, 2009).

Customer Marriage Management is a fresh and visible business way that has included permanently in the contemporary business management books (Chen, 2003). It usually refers to business activities directed towards initiating, creating, maintaining, and developing successful long-term relational exchanges (Sharma and Mittal, 2007). CRM not only impacts business performance but comes with an effect after customers. It ends up with client's retention, satisfaction and devotion (Smith, 2006). The advantages of customer retention and satisfaction are many, therefore companies eagerly tries to secure a substantial customer bottom (Kumra, 2005).

Information technology plays an important part in facilitating the hyperlink between CRM and customer retention. Company can make use of the mixture of computer's swiftness and storage capacities along with the internet connectivity. This helps in providing a powerful linkage among several functions of the business (Ramsey, 2010). For companies of different sizes, different CRM systems are available starting from the easiest contact-management systems that give attention to assisting specific salespeople to many intricate enterprise-wide and cross-enterprise systems (Newby and Sherif, 2005). The basic function of the CRM systems is to hook up the company using its customers and suppliers. CRM systems ensure that customers have a regular experience across multiple sales channels (Han and Kim, 2003). It really is vital for a firm to successfully execute CRM system as an effective implementation assists the business in meeting the client needs. It's the responsibility of the management to assimilate the system in the business and educate its personnel to effectively focus on the CRM systems (Zarali, 2009). It really is targeted to explore these issues and the researcher will attempt to identify the impact of CRM systems on the entire marketing system of the business.

2. Research Question

Determine how CRM systems can impact the client commitment and retention, and its influence on skills of employees and customers' satisfaction?

3. Purpose and Objectives

The main aim of this dissertation is to review the worthiness and importance of CRM systems in conditions of customer satisfaction and retention.

To achieve this aim following objectives should be achieved:

* To analyse the released books on CRM also to identify related issues.

* To determine the impact of CRM systems on client satisfaction and retention.

* To conclude all the literature and the findings and present them in client satisfaction context.

* To provide recommendations to the company.

4. Company's Profile

The company determined because of this dissertation is MobileNet, Ltd which can be found in the center of Delhi, the administrative centre of India. The business deals with providing cellular phone and network associations to specific customers as well as commercial clients. Combined with the mobile products, it provides direct and indirect services related to handsets and network system. It started out as a small company with few employees but slowly but surely developed into an effective medium size business. Reasons for the choice of selecting the corporation includes: Option of appropriate data, personal associates with the business management and past job experience with the company. The other motives are convenience to execute research, less finance needed and time effectiveness. The company has recently adapted and put in place CRM systems within the company. This has upgraded its overall business transactions, activities and performance as well as increased income.

5. Research Relevance and Problem Identification

Although CRM can be an established strategy in modern management studies, little has been focused upon impact of CRM systems on customer satisfaction. There are actually no studies available on it regarding Indian environment. Constantly changing environment and performance focused industry are influencing the organizational composition and resulting in increased reliance on staff and customer loyalty. CRM is basically a new idea in India. It needs time to improve and assimilate other aspects involved with it. But this problem can be resolved by relating performance of CRM systems on organization's marketing activities. This issue is now founded as it affects the field of management in a number of ways. It really is especially valuable for companies seeking better performance.

6. Hypothesis

The company can gratify its customers, entice new ones and retain existing ones by successfully and effectively implementing latest CRM system within the company. If appropriate system is executed, it can establish beneficial and help the company to achieve its marketing objectives.

7. Rationale

Companies tend to apply out-dated and inadequate systems that almost all of times fails on their business situations. While doing this, they often dismiss to adjust advanced CRM systems. In order to improve the client satisfaction, companies need to adapt new ways that can impact overall customer loyalty as well as help successfully hold on to existing customers. There are many other specific topics that may be explored regarding the application of CRM systems. There may be need to raise the limited knowledge regarding the implications and ramifications of CRM systems. This review proposes to give attention to marketing activities of the chosen company. The study rationale is to look for the great things about CRM systems implementation in marketing.

8. Theoretical Framework

The main aim of the dissertation is to investigate the impact of CRM systems and its own implementation on client satisfaction. In such a research, the researcher will attempt to reveal the general customer behaviours in existence. This will likewise incorporate the exploration on patterns of client satisfaction, retention and commitment. Prior to this, the researcher will try to present home elevators the recent CRM systems in use in marketing and to discover its importance. In addition, the newspaper will also seek to discuss the benefits and limitations of CRM systems in marketing and how it could possibly improve the overall performance and position of the company. Moreover, the research will also aspire to investigate customer information management which include responses and human relationships. The role of management in utilizing and taking care of CRM system may also be critically analysed in this dissertation. Finally, the paper will aim to compare actual techniques on organisations with benchmark tactics. This research will specifically study impact of CRM systems concentrating on marketing issues by taking into account environmental and ethnical requirements of the business. The researcher will compare the literature with research study of the company and conclude on the advantages of adapting CRM systems

9. Effectiveness of the Research

This research will consider all the relevant factors related to marketing concept of CRM. It can be useful for the company for comparison reasons with its own survey. It's rather a guideline for the business to consider improvement measures. Further it can be used by students for reference purposes. This research when completed provides better understanding of the potential risks associated with execution of CRM systems. From a broader sense, this paper can essentially donate to corporate decision making. It could donate to help students improve their learning skill regarding CRM systems and how it pertains to customer satisfaction. This research is definitely an important management or information technology endeavour in the academia.

10. Knowledge Gaps and a Future Research Agenda

Research questions that happen to be would have to be addressed include:

How important is the implementation of CRM systems in marketing activities of the organisations?

What will be the benefits and limitations of CRM systems in marketing?

How does indeed the execution of CRM systems in marketing have an effect on the overall performance of the organisations?

Is the execution of CRM systems in marketing improved the current position of the organisations?

What are the strategic planning activities will the CRM systems provide the organisations?

How do CRM systems donate to customer satisfaction and retention?

In what ways do CRM systems contribute to customers' loyalty?

Does the implementation of CRM systems influence the supplier-buyer romance? In what ways?

11. Research Methodology

According to Kothari (2008), research is a systematic review for the assortment of data and information to solve the condition or achieve an objective. Saunders et al. (2010) identify it as a rigorous activity that involves planned development and acquisition of knowledge. Kumar (2005) defines methodology as a targeted exploration beyond generally available knowledge in order to acquire specific and specific information which later provides evaluation basis on the topic of enquiry.

For this dissertation, the researcher will study all the available research techniques. Only the appropriate research methods will be selected and the reasons for the made choices with justification may also be provided. Gantt chart will be applied to plan and coordinate dissertation tasks. It will assist in presenting the study graphically (Bryman and Bell, 2007). Data would be carefully gathered and would continue to be within the research opportunity (Saunders et al. 2010). The researcher can make sure that all the info accumulated is reliable and valid. Both secondary and major information collection methods will form the data collection structure because of this dissertation. Both of these methods will include 'Qualitative' and 'Quantitative' data (Saunders et al. 2010). The researcher has decided to apply affordable solutions to obtain maximum information from the prospective population. Company's interior information will be investigated along with external sources. External research resources include catalogues, magazines, newspaper publishers, technical publications and journals. In addition latest articles from renowned journals and modern marketing and management catalogs will be consulted and assessed to give a broader view (Kumar, 2005).

According to Bryman and Bell (2007) interviews are among the best ways for collecting relevant information from members' experiences. It is the best approach to collect key data. As organized, interviews will be conducted from the professionals and employees to review their views. Questionnaires may also be used that'll be distributed to arbitrarily picked customers. Questionnaires can succeed for the collection of data that can be later quantified using appropriate scales (Kothari, 2008). The researcher can easily circulate the questionnaire. Additionally it is the cheapest method of communication with quickest response rate. Questionnaire can aim for huge bottom part of customers. It also minimises the chance of getting rid of the answers (Saunders et al. 2007). Multi-method/mixed-method strategy (triangulation) will be employed. This technique focuses on incorporating quantitative and qualitative data to attain the goals. All of the gathered information will be analysed on Microsoft Phrase 2010 Bryman and Bell, 2007). Both managers of the company will be interviewed; arbitrarily determined few employees for interviews and randomly decided on customers will be selected. The explanation for selecting professionals is quite forwards as they can provide enough information on company's management of CRM system and related issues. Employees are chosen to go over their views on impact of CRM on their performance and satisfaction. It'll be difficult to question every customer therefore the researcher will try to send out questionnaire to as many folks as possible so that the enough data can be accumulated to represent the complete population.

12. Limitation

Limitation would arise as the research will progress. It may include management and employee or even customer bias, unavailability of essential data, ineffective time and learning resource allocation, etc. It is a natural limitation that information cannot be accumulated from all the sources; therefore sampling will be done randomly. Not absolutely all resources can be researched; therefore Bell's six point parameter will be applied to minimize options and steer clear of collecting irrelevant data.

13. Time Level Chart

Task

Date (Start)

Date (Finish)

Time Estimated

Research Proposal

Research Findings

Literature Review

Research Methodology

Findings and Analysis

Drafting and Submission

14. Summation of the Research

Chapter 1 is release. The research's summary will be laid out in this section. Purpose and Objectives will be included combined with the hypothesis and rationale. Research relevance and usefulness will be discussed as well as theoretical framework. In the long run of this section knowledge spaces and research agenda will also be emphasized, before finally providing the study layout.

Chapter 2 of dissertation is literature review which includes almost one half of the dissertation. Latest issues related to CRM will be talked about and critically analysed. This section will be divided into sub-topics of important subjects. The impact of CRM system, its adaption and implementation, its importance for client satisfaction and retention, the role of management and employees and other important issues will be critically analysed. Several authors' views will be looked at and you will be associated with CRM. Issue on important CRM issues and arguments presented by different scholars will also be provided.

Chapter 3 reviews the technique of the study. Preferred research methods and techniques will be discussed as well as research solutions will be obviously defined. All of this will be clarified with justification. The researcher will obviously describe the advantages of using chosen solutions to validate the study. It will be ensured to examine the study process in detail as well as to determine the limitations and constraints faced. Information about sampling method and data evaluation tools will also be provided. By performing research, the researcher will attempt to examine the value of CRM system for customer satisfaction.

Chapter 4 is the analysis of the collected data which will partially be graphical provided. Findings of the study and examination of the info gathered will be merged for this portion of the dissertation. The researcher will critically analyse results from interviews and questionnaires.

Chapter 5 summarises all the literature and data to analyze conclusion. Recommendations will be suggested to the business in this section.

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