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    RETAILMANAGEMENT

    CustomerRelationshipManagement@BigBazaar&RelianceMart

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    TABLEOFCONTENTS

    CHAPTERNO.Chapter1

    CHAPTERNAMEIntroductionMeaningofCRMGoalofCRMEvolution&growthofCRMptionsforimplementingCRMVariousaspectsofCRM

    PAGENO.1

    Chapter2

    ResearchmethodologyObjectiveofresearch

    SUBMITTEDBY:DeepakMajhiNancyAritroMukherjeeRajaRowinGunjanParmarsizeMukulKindoLalitVijayMishraAnuradhaAnuragSinghRituKumari-

    80305073542

    Chapter3Chapter4Chapter5

    TypeofresearchDatacollectiontechniqueSamplingprocedures&sample

    LimitationsoftheresearchCRM@RelianceMartCRM@BigBazaar

    636977

    CustomersopinionaboutCRM@RelianceMart&BigBazaarSalespersonsassistanceExpectationfulfilment2

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    Discounts&failuresProductarrangementAccessibilitypreferenceChapter6Chater7ComparisonbetweenCRM@RelianceMart&BigBazaarConclusion&recommendation

    CHAPTEINTRODUCTIONitisnotenoughtohavegreatqualities,weshouldalsohavetheabilitiestomanagethem.Thesameconceptcanalsobeappliedinanorganization.Fore.g.acompanymayproduceaveryhighqualityproductsbutitwontbeabletosucceedifitfailstomanageorsatisfytheircustomers.AccordingtoHarwardBusinessReviewanexceptionallysatisfiedcustomeris6timesmorelikelytobuyagainasonewhoismerelysatisfied&only5%increaseincustomerloyaltycanboostprofitfrom25%to85%.Thusallthesequotes&expertsopinionhighlightstheimportanceofCustomerRelationshipManagement.Customersareconsideredtobekingofeverybusinessenterpriseandloyalcustomersarethebackboneoftheirbusiness.SocustomersatisfactionistheprimarymotiveofeverybusinesswhichcanbeattainedthrougheffectiveCRM(CustomerRelationshipManagement)policy

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    1.1MeaningofCustomerRelationshipManagement(CRM):CRMisacomprehensivestrategy&processofacquiring&retainingcustomerstocreatesuperiorvalueforthecompanyaswellasthecustomers.Itconsistsoftheprocessesacompanyusestotrackandorganizeitscontactswithitscurrentandprospectivecustomers.Tosupporttheseprocesses,variousCRMSoftwarelikeSAP,ORACLESalesforce.cometc.areused.Thesesoftwarerecordandstoreinformationaboutcustomers,variouscustomerinteractions,theirproblemsetcwhichcanbeaccessedbyemployeesindifferentdepartmentsofthecompany.Theseinformationareusedbytheorganizationtomakefutureplansthatcansatisfythecustomeronabetterwayandretainingthemforalongerperiod.

    1.2GoalofCRM:ThegoalofCRMistoprovideimprovedservicestothecustomers,andtousecustomercontactinformationfortargetedmarketing.

    1.3EvaluationandgrowthoftheCRM:CRMpassesthroughthreegenerationssuchas1stgenerationin1990,2ndgenerationin1996andthe3rdgenerationin2002.In1stgenerationfollowingsystemswereappliedforCRM:CallcentremanagementItisawebbasedCRMtechnology,theenablesusersbrowsingacompanyswebsitetoleaveaphonenumberwherecompanyrepresentativecancallbackwithmoreinformation.CustomerservicesupportItisapartofacompanysCRMdepartmentthatinteractswithacustomerfortheirimmediatebenefits.

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    SalesforceautomationItissoftwarethatautomatesbusinesstaskslikeinventorycontrol,salesprocessing,customerinteraction,etc-.CampaignmanagementItisaplanning,executing,trackingandanalyzingofdirectmarketingcampaigns.

    In2ndgenerationfollowingimprovedsystemswereusedforCRM:IntegratedcustomerfacingfrontendItisfacetofaceinteractionbetweenthecustomersandsalesman.Thissystemisusedformarketing,salesandservices.ERPintegrationsERPstandsforEnterpriseResourcePlanning.Itisabusinessmanagementsystemthatintegratesallfunctionsofthebusiness.CustomersanalyticsItcomprisesalltheprogrammingthatanalyzesdataaboutanenterprisescustomersforbusinessdecision.CompletewebintegrationItallowsenduserstohaveaccessthedatafunctionofaservehostedapplicationthroughinternetbrowserwindow.In3rdgenerationthestrategicCRMwasfollowedandiscontinuingStrategicCRMupdatesandexpandstheoriginalcontentandcombinesintoone,convenientvaluethatguidesusersthroughtheentireCRMimplementationprocess,fromstrategicplanningsoftware.

    Scopeandgoalsofdifferentgenerations:ThereissuccessfulincrementinthescopeofCRMfrom1stgenerationto3rdgeneration.In1stgenerationthescopeconsistsofservicefunctionandsalesfunction,in2ndgenerationitincludesanotherfunctioni.e.marketingfunctionandin3rdgenerationitincludesentirefunctionoftheorganization.

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    GoalsoftheCRMhavealsochangedwithbettercustomerservicefrom1stgenerationto3rdgeneration.In1stgenerationthegoalswereimproveserviceoperationandincreasesalesefficiency,in2ndgenerationreducecostofinteraction,improvecustomerexperiences,andincreasingthecustomerinteraction;in3rdgenerationcostreduction&revenuegrowthandcompetitiveadvantages.

    1.4OptionsforImplementingCRM:Increasingcustomerisnottheultimateobjectiveofanyorganizationbuttoretaincustomerandtbuildlongtermrelationshipwiththemisimportant.ItisonlythroughCRMthataprospectcanbeturnintocustomerandthenfinallyintoaclient.Buttoachievetheseanyorganizationrequireproperimplementation.ButatthesametimeCRMimplementationisachallengingtaskbecauseittiestogethermanypeople,process,technologieswithintheorganizationwhichareseparatefromeachother.

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    1)INHOUSEDEVELOPMENT-Thismeansallthestrategies,processesaredevelopedandimplementedwithintheorganization.Advantage1.Itistailoredmadeaccordingtoorganizationneedsandstructurethusisflexibleascomparedtoothers.2.Avoiddependencyonothersbeitsoftwareoroutsourcing.Disadvantage1.Itisatthesametimeexpensive2.Andcomparativelytakeslongertimedependingontheorganisation.1)BUYLICENSEDCRMSOFTWARE-Thisispurchasingsoftwareandimplementinginorganization.Advantage1.Usuallythemaximumchanceofsuccess.2.Itjustneedtoinstallandtrainedtheworkforceaccordingly.Disadvantage1.Againitisexpensivebecauseofmanycostsaslicensecost,renewalcostetc.associatedwithit.2.Addingnewsoftwarewithchangeisacomplextask.

    1)OUTSOURCINGAMANAGEDSERVICE-Thismeanshiringfromoutside.Advantage1.Mostofthetimeslowercost.2.Canadoptpay-as-yougoapproachwithvisibleresult.Disadvantage1.Foranynewrequirementneedstocontactthecompanyandpayforthedevelopment.2.AlsothereisariskoflosingCRMsolutioninvestmentifoutsourcingcompanygoesoutofbusiness

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    ImSTAGEWISE-InthisCRMsoftwareisofferedindifferent,independentmodules,accordingtospecificdepartmentneeds.Companybuyssalesautomationsoftwareandcontactmanagementmodulefromdifferentproviders.ENTERPRISEWISECRMSOLUTION-Thisiscomposedofdifferentmodulesfromsameproviders;itisimplementedasawholebyconnectingdifferentmodulesandexistingdatabase.1.5VARIOUSASPECTSOFCRMCRMincludesmanyaspectswhichrelatedirectlytooneanother:

    FrontofficeoperationsDirectinteractionwithcustomers,e.g.facetofacemeetings,phonecalls,e-mail,onlineservicesetc.BackofficeoperationsOperationsthatultimatelyaffecttheactivitiesofthefrontoffice(e.g.,billing,maintenance,planning,marketing,advertising,finance,manufacturingetc.)

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    CHAPTERESEARCHMETHODOLOGYResearchisasystematicandobjectiveinvestigationofasubjectoraprobleminordertodiscoverrelevantinformationorprinciples.Researchmethodologyisbasicallythemethodofhowtocollectdata.Theinformationregardingourresearchareasfollows:2.1Objectiveofourresearch:WewantedtounderstandaswellascomparethecustomerrelationshipmanagementfollowedbytheRelianceMartandBigBazaar.

    2.2Typeofresearch:Ourresearchwasempiricalkindofresearchsinceweweredealingwiththebehavioralorqualitativeaspectofcustomersandnotthequantitativedatas.herewewerenotsupportedwithanyexterenaldatanorwereadoptinganysecndorydatatodoourreaserch.

    2.3Datacollectionandanalysis:collection,andanalysisoftheinformationgatheredbyInteractionwithemployeesandcustomersandalsobyobservingactivitiesoftheemployees.ForbetterunderstandingofCRMinBigBazaarandRelianceMartwealsohadpreparedaquestionnaireforbothcustomersandmanagers.

    2.4Samplingprocedureandsamplesize:personsselectedbyuswererandomelyselected.andwerefromdifferentagegroup,sexandeducationalbackgroun.thisdiversificationwasdonetomeasurethedifferentchoiceandpreferencesprevailingincustomersdemographycallydifferent.

    2.5Limitationsofourresearch:1.Oursamplesizewascomposedofonly20customerswhichisextremelysmallsampletorepresententirepopulationofcustomerswhovisitinthesetworetailstores.2.Nodemographicalorpsychographicdifferenceswasconsideredbeforechoosingthecustomersforinterviewpurpose.9

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    3.manyofthepolicieswhichwerenotinforceduetosmallermarketpotentialtheirdescriptionisalsobeenprovidedbymanagers.

    CHAPTERCRMPOLICYOFRELIANCEMARTCRMpolicyofreliancemartcanbedividedintofourmajorparts,namely;1)Customerloyalty2)Customerretention3)Customercommunication10

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    4)CustomergratificationThereexistsablanketcustomerrelationshipprogrammecalledtherelianceonemembershipprogrammeforthepurposeofmaintainingcustomerloyalty.Themembershipprogrammeisaverysimpleonewhereawillingcustomerisrequiredtofillaformgivingpersonalinformationandhegetsatemporarycardwhichwillbemadepermanentaftersixmonths.Oneachpurchaseofrs.100thecustomergetsoneredeemablepointontheproductionofcardatbillingcounter.Thecollectedpointscanberedeemedinformofdiscountsonfuturepurchasesondemandofthecustomer.Thecustomersalsogettheopportunityofavailingfourdifferentkindsofinsuranceonthepaymentofanominalfee.Forexampleacustomercangetanaccidentaldeathinsuranceofrssixlakhsonthepaymentofrs.400only.Otherformsofinsurancesaredisability,hospitalizationandhomeinsurances.Themembersofrelianceonegettheopportunityoftakingpartandwinningprizesbythewayofluckydrawsonregularintervals.Customerretentionpolicyimplementationisatthezonallevel.Generallyeachstateisregardedasazoneandtheoffersanddiscountsinazonearenotavailableinotherzones.Suchpolicyhelpsrelianceretailtounderstandandcapturethelocalmarketsbetter.Theproductswhichshowimprovementduetooffersanddiscountsonthemarerepeatedwiththeseoffersagainsoastoretainthesalesofthecustomerswhoboughtitthelasttime.Alsosuchthedaysbestoffersareconstantlyannouncedinthestoremakingtheregularcustomersawareaboutthem.Maintainingagoodstoreambianceisalsoapartofcustomerretentionpolicyofrelianceretail.Cleanandhygienicenvironmentwithproperlyandwellspacedproductsalongwithauniformcolorthemeattractstheexistingcustomerstothestoreagainandagain.Afastbillingsystemandgoodandeasygrievancehandlingsyste

    mwhichcanbeaccessedthrucustomerservicedeskandcompanywebsite,ensuresthatcustomersfeelsatisfiedwiththestoremanagement.Lessharassmenttocustomersmeansbettercustomerretention.Communicationtoexistingcustomerstakestheformofsmsande-mails,generallysenttorelianceonemembers.Theygetinformationaboutongoingoffersandalsoinformationandlatestnewsabouttheirneareststoresandthecompanyingeneral.Anothersourceofcustomerdatabaseistheinformationcollectedduringtheorganizingofspecialeventsinthestores.Customersparticipatinginsucheventsprovidetheircontactinformationwhicharealsousedinformofdatabaseforcommunicationpurposes.Thankyouandfestivecardsonspecialoccasionsareaninnovativewayofcommunicatingwiththecustomers.Trainedsalespersonsmakecustomergratificationveryeasy.Asimplethankyouwithasmilegoesalongwayforthestoretokeepthecustomershappy.Thespecialeventsorganizedbythestoresacrossindiaarealsoawaytogr

    atifythecustomersbyallowingthemtoplayandwinprizes.Giftvouchersanddiscountcouponsareanattractionforthecustomersandgivethemthefeelthatthestorecaresaboutthemandtheirmoney.Localcustomersmanyatimesmakelimitedpersonalcontactswiththestorestaffjustlikethatmadeatakiranastoreandhelpthestoretosomeextenttomaintainarelationshipwiththecustomers.11

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    Theimplementationofthepoliciesbringsoutcertainlimitationsinthem.FewmajoronesareasfollowsThepersonalcontactnumbersofrelianceonemembersareopentotelemarketingcallsfromvariousmarketersastheyleakoutoftherelianceretailsdatabase,causingunnecessaryharassmenttocustomers.Thecustomercommunicationpolicyislessfollowedinsmalltownsandcitiesandismoreconcentratedtowardsthemetrocities.Thereisacommoncrmpolicyforbothreliancefreshandmart.Thisshouldnotbethecaseasboththestoresofferdifferentkindsofmerchandizeandgenerallyattractdifferentkindsofcustomers.Relianceretailgenerallydelaystheprocessingofpermanentmembershipcardstothosecustomerswhohavenotpaidforsuchacard.Customershavebeenwaitingforoverthreemonthsfortheircard.Thosewhohavepaidthenominalfeeofrs.50gettheirpermanentcardwithin15daysbuttherestwhohaveoptionednottopaythefeesdonotreceivethecarduntiltoolate.Unmannedbillingcounterscreatelongqueuesattheopencounters.Thiscreatesimpatiensinthecustomersastheyexpectfasterbillingatthestoresanddonotwanttostandwithtoomuchofgoodsheldintheirhandswhilebilling.

    CHAPTER4CRM@BIGBAZAAR

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    Databaseisformedthroughtheissueoffuturecardandcardisofthreetypessilvercard,goldcardandsakthicard.Sakthicardisissuedtoladiesandthiscardprovides,freesugar(1kg)permonth.Customerprofitabilityanalysis(CPA)isdoneonthebasisoftransactionsmadethroughthefuturecards.Platinumcustomers(mostprofitable).Goldcustomers(profitable).Ironcustomers(lowprofitabilitybutdesirable).Leadcustomers(unprofitableandundesirable).Differentiatecustomersintermsof:(1)theirneedsand(2)theirvaluetocompany.Interactwithindividualcustomerstoimprovetheknowledgeaboutindividualneedsandtobuildstrongerrelationships.TherearefourtypeofanalysisdoneforanalysisofCRMPeriodicSurveys:Itsdoneonquarterly,itsanoverallsurveydonebythefuturegroupauthoritiesandCRMisapartofit.CustomerLossRate:MysteryShoppers:Theyposeasnormalcustomersperformspecifictaskssuchaspurchasingaproduct,askingquestions,registeringcomplaintsorbehavinginacertainwayandthenprovidedetailedreportsorfeedbackabouttheirexperiencesMonitorCompetitivePerformanceComplaintHandlingProcedures:

    Screening

    And

    Logging

    --

    The

    type

    of

    product

    or

    service;

    manufacturer/brandname;modelname/number;dateofpurchase/contract;warrantyexpirationdate;salesperson;costofproduct/service;dateproblemoccurred;andadescriptionoftheproblemislisted.Thisallowsorganizationtoexercisecontrol,andassureproperfollow-through.

    Investigating--customer

    sexplanationofaproblemprovidesmuch

    information.Nevertheless,toassuretheyhavealltheinformationneededforathoroughreviewofthefactsinvolved,by:Researchingin-houserecordsonthecustomer;Requestingreceipts,orotherrecords;Inspectingtheproduct,orserviceperformed;andFollowing-upwiththecustomerforanynecessaryadditionalinformation.

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    Acknowledging--WhenBigBazaarcannotresolveanissueimmediately,it

    isimportanttoletcustomerknowthatthematterisreceivingattention.Customerisgiveninformationabouthowlongitwilltaketocompleteactiononthecomplaint.Ifthereisfurtherdelay,itsmadesuretoadvisecustomerwhyandwhenBigBazaarexpectstohaveananswer.

    FormulatingASolution--solutionismadetobeconsistentwithestablished

    customerrelationspolicyandimportantcriteriaaretakenintoaccount:Contractualand/orwarrantyobligations;Thecustomer

    sexpectations;expectationsofthecustomer;Thecost/benefitofalternativesolutions;Theprobabilityandcostofcustomerseekingredressinsomeotherway;Thecomprehensivenessandfairnessofsolution;abilitytoperformthesolution;andWhattodoifthecustomerrejectssolution.

    Responding--Theresponseismadeclearandappropriate.Thecustomer

    mustunderstandtheresponse,andtheresponsemustaddresstheissuesraisedinthecustomer soriginalcomplaint.Anexplanationofdecisionpreservesthegoo

    dwillofcustomer,evenifthedecisionitselfisadverse.

    Following-UpCustomeriscontactedfollowingresponsetoverifywhether

    ornotthematterhasbeenresolvedsatisfactorily.Ifcustomerisunhappywithresponse,organizationrefersthemattertoathirdpartydisputeresolutionmechanismforassistance.StepsInvolvedincustomerSatisfactionthroughService:SeeingproblemsfromthecustomersperspectiveManagingcustomers

    "momentsoftruth"CommunicatingeffectivelythroughbetterlisteningAnalyzinghowcustomerperceptionsareformedManagingangerandotherservicebehaviors14

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    Dealingwithlong-termconsequencesofservicebreakdownsNegotiatingsolutionsGeneratinganactionplanforimprovedon-the-jobeffectiveness

    CUSTOMERCOMMUNICATION:Futuregroupmaintainsitsrecordsofcustomersbyobservingtheirpurchasinghabits&categoriesthemintovariousgroupslikehighrevenue,moderaterevenue&lowrevenuecustomers.TheycommunicatetothecustomersthroughvariousmediumlikeSMS,E-mail,Mobilevans,Printmediaetc.Thisisthewaytobuiltastrongpresenceintheexistingcustomers&prospectivecustomers.Presentlytheyareusingoraclesoftwaretomaintaindatabase.RecentlytheyhavetiedupwithCaliforniabasedfirmGREENPLUMtoprovidenewsoftwarefordatawarehousing.Thecompanyboastsstrongshareofitsprofitsfromtoplinecustomerswhoprovidethemaround70%oftheirrevenuesintotal.Thecompanycansaidtobegoingonthefamousmanagementprinciplei.e.80/20PRINCIPLEwhichsaysthat20percentofvariablescause80%effect.Inbigbazaaritcanberelatedtothefactthat20%ofitstoplinecustomersprovide80%ofitsrevenuesinayear.Thisisthereasonwhytheretailgiantisfocusingstronglyoncustomerretentioninordertoboastsitssalesnumberssubstantially.

    CUSTOMERGRATIFICATIONisanimportantelementofasalesprocess.Everycompanyshouldsurveytheircustomersinordertofindoutthesatisfactionlevelamongtheconsumers.Bigbazaaralsoconductsperiodicsurveysinordertoascertainthesatisfactionlevelintheirconsumers.Variousactivitiesaredoneinordertoenhancetheshoppingexperienceamongbuyers&variousoffers,discountcoupons;exchangeoffersareinitiatedbythefirminordertodevelopagoodsatisfa

    ctionlevelintheirexistingcustomers.Specialcouponsaregiventocustomerswhocanberedeemedbythecostumersintheirfuturepurchasesfromthestore.

    CUSTOMERPERCIEVEDVALUE(CPV)iscalculatedbytheretailstoreinordertoassesthecostsandbenefitsreceived&giventothebuyers.ThefollowingaresomekeyfeaturesofCPV1.CPVisthedifferencebetweentheprospectivecustomersevaluationofallthebenefitsandallthecostsofanofferingandtheperceivedalternative.2.Totalcustomervalueistheperceivedmonetaryvalueofthebundleofeconomic,functional&psychologicalbenefitscustomersexpectfromagivenmarketoffering.15

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    3.Totalcustomercostisthebundleofcostscustomersexpecttoincurinevaluating,obtaining,using,disposingofthegivenmarketoffering,includingmonetary,time,energy&psychiccosts.LOOPHOLES:Theretailstorehasalsovariousloopholesespeciallyhereatranchi.Themajordrawbackwhichwasfoundoutinitiallywaslackofproperparkingplacebutnowithasbeencorrectedtosomeextent.SecondlythestoreisveryslowinexecutionofonlineorderswhichisgiventhroughcompanywebportalFUTUREBAZAAR.ToquoteafewexamplesoflatedeliveryMr.DavidKerketta,aresidentoflalpur-peaceroadpurchasedafurnitureforRs37000,thedateofscheduleddeliverywas15thofNovember,2008buthereceivedhisorder37dayslate.OnemoreincidentofsuchlatedeliveryisMRPradeepKumar,aresidentofUpperBazaarwhopurchasedadiningtableforRs.15000,butasusualhegothisfinaldeliveryawhopping65dayslatethanthescheduleddateofdelivery.Sotheseincidentsspeakalotofinefficientdelivery.Theotherdrawbacksareinefficientbilli.ngcountersastheyarenotupdatedwiththecurrentoffersandschemes.Alsothebillingcountersremainsunmannedthataddtotheproblemofcustomerswhoneedstostandinlongqueueinordertogettheirpurchasesbilled.TheotherproblemisrelatedtotheslowprocessingofapplicationsofmembershipcardslikeShakticard,futurecardsetc.Ittakesaround30daysminimumtobecomeamemberoffuturecardschemes.Thisisveryslowlyconsideringtheindustryaverageof15-20daystoprocessacard.Finallythecontactnumbersofcustomersareopentothetelemarketingpersonnelastheygetthedatabasefromthefuturegroupthroughsomesourcesortheother.

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    CHAPTECUSTOMERSPOINTOFVIEW1)SalesPersonsAssistance:Thisreferstotheextentofhelpanindividualgetsfromthesalespersonpresentinthestoreinchoosingaparticularproductorincaseofanyquery.Therecanbetwoinstancesi.e.inadequatehelporexcesshelp.Inadequatehelpisaverycasebecausemostofthetimesalespersonistheretosolveourqueries.Instancesofexcesshelpcanarisewhichmakesthecustomerfeelthatthepersonisinterferinginhisdecisionorpushingtheproducttohim.

    50%peoplepreferredthesalespersonassistanceofreliancemartandonly35%preferredBigBazaarinthisrespect.15%peoplewereneutralthatmeanstheythoughtittobethesameinboththestoresortheydidntneedanysuchhelpfromthesalesperson.2)ExpectationFulfilment:everycustomerhascertainexpectationswhenhevisitsastore.Thisexpectationwillvaryfrompersontoperson.Itcanbegettingaparticularbrandofproductorparticularquantityorvariantoftheproduct.

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    55%peoplefeltthattheirexpectationsaremorefulfilledatBigBazaarwhile45%preferredRelianceMart.ThismaybebecauseofgreaterproductdepthatBigBazaarthaninRelianceMart.3)Discounts&Offers:theseareannouncedfromtimetotimetolurecustomerstobuymore.

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    60%peoplepreferredtheDiscounts&OffersofBigBazaarwhileonly40%preferredthatofRelianceMart.ThismaybebecausemorepeopleareawareofthediscountsofferedbyBigBazaarduetotheirhugeadvertisements.4)ProductArrangement:thisbasicallymeansthesequenceororderinwhichdifferentvarieties,brandsorsegmentsofproductsarearrangedsothatcustomersfeelateaseinselectingtheproductofhis/herchoice.

    55%peoplepreferredtheproductarrangementofRelianceMartwhile45%preferredthatofBigBazaar.ThisisbecauseBigBazaarhaslargespaceduetowhichproductsaremorefragmentedorscatteredonthecontraryRelianceMarthassmallerspaceinwhichproductsaremorelogicallyarranged.Alsoithasmorespacebetweentheshelveswhichprovideeaseofwalkingtocustomersandtheythinklessspacemeanslessenergywastage.5)Accessibility:itreferstothereachofthestoretothecustomers.

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    50%peoplepreferredBigBazaar,39%RelianceMart&11%wereneutralthatmeansaccessibilitydoesntmattertothem.MajoritylikesBigBazaarbecauseitissituatedinthemaincitywhileRelianceMartislocatedataveryposhareawhichisveryfarfromthemaincity.6)Preference:itreferstothepreferenceofthecustomerregardingmakingachoicebetweenthetwostoresi.e.BigBazaar&RelianceMart.

    Onthewhole65%peopleprefershoppingatBigBazaarand35%peoplepreferredtodoshoppingatRelianceMart.Thismaybebecauseofanyoftheabovementionedreasons.

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    CHAPTE

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    CHAPTECONCLUSIONTransformationbyintegratingcustomerfacingfront-endwithback-endsystemsandpartnersandsuppliers.Thiswilleffectivelyhelpingeneratingbetterfiltereddatasourcefromfeedbacksreceived.Alsothefeedbackswillbedealtwithinamuchmorecarefulandprofessionalway.GrowthofCRMfacilitatedbygrowthofIT.InthisageofInformationTechnologyaneffectiveITplanningontheCRMcanhelptheorganizationearnalotofrepute.Newdatabasesolutions.Thiswillhelptofilterandcleantherawdatareceivedfromfeedbacksmoreefficiently.22

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    MutualbenefitthroughCRM.ThestoresandtheircustomerscanmutuallybenefitthroughtheapplicationofCRM.Soatthiseraofcustomers,thecompaniesshouldprojectthemselvesascustomerorientedaspossibletohelpthembenefitinalongtermsurvivalplan.

    Effectivesegmentationofcustomers.Withmoreandbetterqualityofdata,thiscanbedoneveryeasily.

    Enhancingtheshoppingsolutions.Thisistheageofinnovation.EspeciallyinIndianmarkets,lowcostinnovationistheultimatetooltowinthebattleforthecompanies.Thus,thecompaniesneedtobeinnovativewiththeirideasandalwaystrytodeliverthecustomerwithsomeaddedvaluefortheirpurchase.

    RECOMMENDATIONS

    ManyCRMproject"failures"arealsorelatedtodataqualityandavailability.Datacleaningisamajorissue.Ifacompany

    sCRMstrategyistotracklife-cyclerevenues,costs,margins,andinteractionsbetweenindividualcustomers,this

    mustbereflectedinallbusinessprocesses.Datamustbeextractedfrommultiplesources(e.g.,departmental/divisionaldatabasessuchassales,manufacturing,supplychain,logistics,finance,serviceetc.),whichrequiresanintegrated,comprehensivesysteminplacewithwell-definedstructuresandhighdataquality.DatafromothersystemscanbetransferredtoCRMsystemsusingappropriateinterfaces.Becauseofthecompany-widesizeandscopeofmanyCRMimplementations,significantpre-planningisessentialforsmoothroll-out.Thispre-planninginvolvesatechnicalevaluationofthedataavailableandthetechnologyemployedinexistingsystems.Thisevaluationiscriticaltodeterminethelevelofeffortneededtointegratethisdata.

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    Equallycriticalisthehumanaspectoftheimplementation.Asuccessfulimplementationrequiresanunderstandingoftheexpectationsandneedsofthestakeholdersinvolved.Anexecutivesponsorshouldalsobeobtainedtoprovidehigh-levelmanagementrepresentationoftheCRMproject.AneffectivetoolforidentifyingtechnicalandhumanfactorsbeforebeginningaCRMprojectisapre-implementationchecklist.Achecklistcanhelpensureanypotentialproblemsareidentifiedearlyintheprocess.

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