Crm Reliancemartandbigbazaar Hemanth 110922003903 Phpapp02

7/30/2019 Crm Reliancemartandbigbazaar Hemanth 110922003903 Phpapp02

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CRMCRMHemanth Kumar


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Meaning of CustomerMeaning of Customer

Relationship ManagementRelationship Management

(CRM):(CRM):CRM is a comprehensive strategy

& process of acquiring &

retaining customers to createsuperior value for the companyas well as the customers. It

consists of the processes acompany uses to track andorganize its contacts with its

current and prospectivecustomers.


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Meaning of CustomerRelationship Management

(CRM):To support these processes, various

CRM Software like SAP, ORACLESales force.com etc. are used.

These software record and storeinformation about customers,various customer interactions, theirproblems etc which can be

accessed by employees in differentdepartments of the company. Theseinformation are used by theorganization to make future plansthat can satisfy the customer on a

better way and retaining them for a


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Goal of CRM:Goal of CRM:

The goal of CRM is to provideimproved services to thecustomers, and to use customer

contact information for targetedmarketing.


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VARIOUS ASPECTS OF CRMVARIOUS ASPECTS OF CRM

CRM includes many aspects whichrelate directly to one another:

Front office operations

Direct interaction withcustomers, e.g. face to facemeetings, phone calls, e-mail,online services etc.

Back office operations Operations that ultimatelyaffect the activities of the frontoffice (e.g., billing, maintenance,

planning, marketing, advertising,


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CRM POLICY OF RELIANCECRM POLICY OF RELIANCEMART

CRM policy of reliance mart can be divided into four major parts,namely;

1) Customer loyalty

2) Customer retention

3) Customer communication

4) Customer gratification

There exists a blanket customer relationship programme called the

reliance one membership programme for the purpose of

maintaining customer loyalty. The membership programme is a

very simple one where a willing customer is required to fill a form

giving personal information and he gets a temporary cardwhich will be made permanent after six months.

On each purchase of Rs. 100 the customer gets one

redeemable point on the production of card at billing counter. The

collected points can be redeemed in form of discounts on future

purchases on demand of the customer.


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CRM POLICY OF RELIANCECRM POLICY OF RELIANCE

MARTMARTThe customers also get the opportunity of

availing four different kinds of insuranceon the payment of a nominal fee.

For example a customer can get an

accidental death insurance offers six lakhson the payment of Rs. 400 only. Otherforms of insurances are disability,hospitalization and home insurances.

The members of reliance one get theopportunity of taking part and winning prizesby the way of lucky draws on regularintervals.


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Customer retention policy Customer retention policy

Reliance mart - implementationReliance mart - implementation

Generally each state is regarded as a zone and the offersand discounts in a zone are not available in other zones.Such policy helps reliance retail to understand and capturethe local markets better. The products which showimprovement due to offers and discounts on them arerepeated with these offers again so as to retain the sales

of the customers who bought it the last time.

Also such the days best offers are constantlyannounced in the store making the regular customersaware about them.

Maintaining a good store ambiance is also a part of

customer retention policy of reliance retail. Clean andhygienic environment with properly and well spacedproducts along with a uniform color theme attracts theexisting customers to the store again and again.

A fast billing system and good and easy grievancehandling system which can be accessed thru customerservice desk and company website, ensures that customers


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Customer communicationCustomer communication

Reliance martReliance martCommunication to existing customers

takes the form of sms and e-mails,generally sent to reliance one members

Another source ofcustomer database isthe information collected during the

organizing of special events in thestores. Customers participating in suchevents provide their contact informationwhich are also used in form of database forcommunication purposes.

Thank you and festive cards on specialoccasions are an innovative way ofcommunicating with the customers.

Trained salespersons make customergratification very easy.


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CustomerCustomer

communication Reliancecommunication Reliance

martmartA simple thank you with a smilegoes a long way for the store tokeep the customers happy. The

special events organized by thestores across India are also a wayto gratify the customers byallowing them to play and win

prizes. Gift vouchers and discountcoupons are an attraction for thecustomers and give them the feelthat the store cares about them

and their money.


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Limitation CRMLimitation CRM

implementationimplementationThe implementation of the policies

brings out certain limitations inthem. Few major ones are asfollows

The personal contact numbers ofreliance one members are open totele marketing calls from variousmarketers as they leak out of the

reliance retails database, causingunnecessary harassment tocustomers.

The customer communication policyis less followed in small towns andcities and is more concentrated


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Limitation CRMLimitation CRM

implementationimplementationThere is a common crm policy for both

reliance fresh and mart. This should notbe the case as both the stores offerdifferent kinds of merchandize andgenerally attract different kinds of

customers.Reliance retail generally delays the

processing of permanent membershipcards to those customers.

Unmanned billing counters create longqueues at the open counters. Thiscreates impatiens in the customers asthey expect faster billing at the storesand do not want to stand with too much

of goods held in their hands whilebillin


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CRM @ BIG BAZAARCRM @ BIG BAZAAR

Database is formed through the issue of futurecard and card is of three types silver card, goldcard and sakthi card.

Sakthi card is issued to ladies and this cardprovides free sugar(1 kg) per month.

Customer profitability analysis (CPA) is done onthe basis of transactions made through thefuture cards.

Platinum customers (most profitable).

Gold customers (profitable).

Iron customers (low profitability but desirable).

Lead customers (unprofitable and undesirable).

Differentiate customers in terms of: (1) theirneeds and (2) their value to company.

Interact with individual customers to improve theknowledge about individual needs and to buildstronger relationships.


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There are four type of analysisThere are four type of analysis

done for analysis of CRMdone for analysis of CRM

Periodic Surveys: Its done onquarterly, its an overall survey done bythe future group authorities and CRM isa part of it.

Customer Loss Rate : Mystery Shoppers: They pose as

normal customers perform specific taskssuch as purchasing a product, asking

questions, registering complaints orbehaving in a certain way and thenprovide detailed reports or feedbackabout their experiences.

Monitor Competitive Performance

S l d iSt I l d i


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Steps Involved inSteps Involved in

customer Satisfactioncustomer Satisfaction

through Service:through Service:Seeing problems from the customersperspectiveManaging customers' "moments of

truth

Communicating effectively throughbetter listening

Analyzing how customer perceptionsare formed

Managing anger and other servicebehaviors

Dealing with long-term consequences ofservice breakdown

Negotiating solutions


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CUSTOMER COMMUNICATION:CUSTOMER COMMUNICATION:

Big bazaarBig bazaar

Future group maintains its records of customers byobserving their purchasing habits & categories them intovarious groups like high revenue, moderate revenue & lowrevenue customers.

They communicate to the customers through variousmedium like SMS,E-mail, Mobile vans, Print media etc.Thisis the way to built a strong presence in the existingcustomers & prospective customers.

Presently they are using oracle software to maintaindatabase.

Recently they have tied up with California based firm

GREENPLUM to provide new software for data warehousing. The company boasts strong share of its profits from top line

customers who provide them around 70% of their revenuesin total. The company can said to be going on the famousmanagement principle i.e. 80/20 PRINCIPLE which says that

20 percent of variables cause 80% effect. In big bazaar itcan be related to the fact that 20% of its top line customers


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CUSTOMERCUSTOMER

GRATIFICATIONGRATIFICATION It is an important element of a sales

process. Every company should survey their

customers in order to find out thesatisfaction level among the consumers.

Big bazaar also conducts periodic surveysin order to ascertain the satisfaction levelin their consumers.

Various activities are done in order toenhance the shopping experience among

buyers & various offers, discount coupons;exchange offers are initiated by the firm inorder to develop a good satisfaction levelin their existing customers. Specialcoupons are given to customers who can

be redeemed by the costumers in theirfuture purchases from the store.


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CONCLUSIONCONCLUSION

Transformation by integrating customer facing

front-end with back-end systems and partnersand suppliers. This will effectively help ingenerating better filtered data source fromfeedbacks received. Also the feedbacks will be

dealt with in a much more careful andprofessional way. Growth of CRM facilitated bygrowth of IT. In this age of Information

Technology an effective IT planning on the CRMcan help the organization earn a lot of repute.

New database solutions. This will help to filter andclean the raw data received from feedbacks morefficiently.Mutual benefit through CRM. Thestores and their customers can mutually benefit

through the application of CRM.


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RECOMMENDATIONSRECOMMENDATIONS

Many CRM project "failures" are also related to data qualityand availability. Data cleaning is a major issue. If acompany's CRM strategy is to track life-cycle revenues,costs, margins, and interactions between individualcustomers, this must be reflected in all business processes.Data must be extracted from multiple sources (e.g.,departmental/divisional databases such as sales,

manufacturing, supply chain, logistics, finance, serviceetc.), which requires an integrated, comprehensive systemin place with well-defined structures and high data quality.Data from other systems can be transferred to CRMsystems using appropriate interfaces. Because of thecompany-wide size and scope of many CRMimplementations, significant pre-planning is essential forsmooth roll-out. This pre-planning involves a technical

evaluation of the data available and the technologyemployed in existing systems. This evaluation is critical todetermine the level of effort needed to integrate this data.Equally critical is the human aspect of the implementation.A successful implementation requires an understanding ofthe expectations and needs of the stakeholders involved.An executive sponsor should also be obtained to provide

high-level management representation of the CRM project.An effective tool for identifying technical and human factors

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Crm Reliancemartandbigbazaar Hemanth 110922003903 Phpapp02

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