crm in retail.shrikan & palak
TRANSCRIPT
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By;
1) Palak Patel2) Shrikant Rana
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CRM IN RETAIL
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Overview of Retail
5th largest in the worldGDP- 14%- 15%Organized retail stores- 6%Unorganized retail stores- 94% Example of organized stores- Reliance, Big Bazaar, Pantaloons, Shopper Stop etc…Example of unorganized stores- Kirana shop, Paan shop, etc…
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What is CRM?
Information industry.Methodologies, software & websitesManage Customer RelationshipsOrganized in Efficient manner
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CRM CYCLE
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Advantages…
Increase relationship with clientsIncrease the salesReduction of sale cycleBetter communication channelsCreate detailed profileNew selling opportunitiesProvide better customer service
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Disadvantages…
Small companies- not possibleHigh costRequires continues Maintenance, Up Gradation of info.Difficult to integrate with other MISTraining cost increases
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CRM @ Reliance Retail
CUSTOMER LOYALTYCUSTOMER RETENTIONCUSTOMER COMMUNICATIONCUSTOMER SATISFACTIONCUSTOMER GRATIFICATION
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Customer Loyalty
Reliance one MembershipGet Redeemable pointsOpportunity of getting 4 different insurance
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Customer Retention
Zonal levelOffers & DiscountsRepeated, if it works with products
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Customer Communication
Forms of SMS or email (members only) Organized special eventsThank you & festive cards
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Customer Gratification
Trained salespersonThank you with smileGifts & discounts coupons
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CRM @ Big Bazar
Database is formed through the issue of future cardCustomer profitability analysis (CPA)Differentiate customers in terms of their need and value to companyInteract with individual customers
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Analysis of CRM
Four types of analysis done :-
Periodic SurveysCustomer loss rateMystery ShoppersMonitor Competitive performance
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Customer Satisfaction through Service…
Problems identificationManaging customersEffective communicationAnalyzing customer perceptionsManaging service behaviorsDealing with long-term consequencesNegotiating solutionsGenerating an action plan
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CUSTOMER COMMUNICATION
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Customer Perceived Value (CPV)
Is calculated by the retail store in order to asses the cost and benefits received & give to the buyers.
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CRM as a Solution for Retail
Helps increase wallet-share by brand building and trade promotion to maximize product sales using performance details, profiling information plus transaction and feedback data.
Enables servicing customer needs and complaints across channels using a single system to prevent information leaks.
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THANK YOU…