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TRANSCRIPT
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The nature of competition is going global.
The rate of change is accelerating out of control.
Margins are being eroded.
Customers are becoming more demanding and turning less loyal
Product life cycles are decreasing.
Industry barriers are collapsing, major brands entering newmarkets.
The internet is transforming the business landscape.
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The Study
The research purpose of the current study is descriptive in
nature as the research purpose is clearly structures and this
study aims at gaining insights into CRM, and effectiveness of
CRM practices in increasing the sales volume
Initially the study explains the concept and practices of CRM
in ORS and further explains the effectiveness of CRM
practices in ORS through data analyses (gathered and collected
through questionnaire) .Towards the end of the study the
conclusion is presented by answering the research questions,whereby facilitating the organizations to better understand and
predict the customers relations to maximize the gains and
minimize the loss.
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The Sample Profile
The population
The populations in this study comprise of all the managers and
the sales executives of organized retail Stores in Indore city.
Sampling frame
The sampling frames for this study are the organized retail stores
of Indore City.
Sample Size
The final sample of 300 subjects drawn from a total of 450
subjects selected through random basis from ORS located in
Indore. The incomplete filled in sets of data were screened out.
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Sampling Technique
In order to suite the research purpose the non probability
convenience sampling technique was used.
Data collection
To collect the primary data two structured questionnaire were
designed and used. The data for the questionnaire were collected
from the managers and the sales executives of ORS in IndoreCity. A few managers were interviewed to get further insights
into CRM practices.
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Data Analyses
To achieve the objectives of our study and testing of thehypothesis T test (Paired and Independent sample ) to study the
cause and effect of CRM on sales and other factors . And
factor analyses were also applied to gain an insight into
importance of the variables. The results of the data were
analyzed to arrive at to the finding. Graphical Representationof a few questions is also done.
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Hypothesis
HO1: There exists no positive impact of Customer Relationship
Management process in increasing the sales volume.
H11: There exists a positive impact of Customer Relationship
Management process in increasing the sales volume.
HO2: There does not exist a positive effect of CRM in increasing
the number of customer.
H12: There exists a positive effect of CRM in increasing the
number of customer.
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HO3: There is no positive effect of CRM on customer
satisfaction and retention.
H13: There is a positive effect of CRM on customer satisfactionand retention.
H04: There is a difference between the companies with and
without CRM in terms of sales.
H14: There is no difference between the companies with and
without CRM in terms of sales.
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There exists a positive impact of Customer Relationship
Management process in increasing the sales volume.
There exists a positive effect of CRM in increasing the number
of customer.
There is a positive effect of CRM on customer satisfaction and
retention.
There exists a significant difference in the sales volume before
and after the application of CRM.
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There is a significant difference in the customer Satisfaction
before and after the application of CRM.
There is a significant difference in the customer Loyalty before
and after the application of CRM.
There exists a significant difference in the customer turnover
before and after the application of CRM.
There exists a significant difference in the cross selling before
and after the application of CRM.
There exists difference in the up selling before and after the
application of CRM.
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There exists significant difference in the number of referred
Customers and after the application of CRM.
There exists significant difference in the number of retained
customer before and after the application of CRM.
A spectacular rise in the number of customers was enjoyed by
the organizations.
Basket Building was found easier after the application of
CRM.
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What was the percentage of the Employee Training before and After the
Application of CRM?
0
20
40
60
80
100
120
Before CRM After CRM
Employee Training
Yes
No
The interpretations from the graph highlights that 67% of the respondents were not
practicing the phenomenon of Employee Training before the application of theCRM, where by 33% agreed to have been practicing the same. And the ratio
upturns dramatically after the application of CRM by 99% respondents focusing
on Employee Training and 1% do not imply the same after the application of
CRM.
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What was the percentage of the Sales Force Automation before and after the
Application of CRM?
\s
The interpretations from the graph highlights that 83% of the respondentswere not practicing the instance of Sales Force Automation before the
application of the CRM, where by 17% agreed to have been practicing the
same. And the ratio rise noticeably after the application of CRM by 99%
respondents focusing on Sales Force Automation and 1% do not imply the
same after the application of CRM.
0
20
40
60
80
100
120
Before CRM After CRm
Sales Force Automation
Ye
No
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The H-CRM help companies to achieve life long relationships
and co-ordination with the Customers.
Organizations have reported an encounter of employee loyalty
towards new customers and prefer to deal with the existingcustomers ,
CRM has made it easy to access all the information just in time .
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It could be recommended that a high quality of speedy
interactions should be made regardless of the channel, with 24x7
facility, for immediate and useful responses to inquires.
Organized Retail Stores could further carry on an analysis to
explore the impact of Customer Life cycle value model on theCost and Sales Volumes ratios for cash cowing the higher margin
of profit on Customer Lifetime Value.
Findings suggests that Organized Retail Stores have to pay
special attention on the cross selling and up selling activities so as
to improve sales volume, here the sales executives need to work
beyond service thinking and become absolute sales instrument for
immediate and useful response to customers.
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A more focused study could be undertaken
for analyzing the effectiveness of
INTEGRATED CRM in organized retail
stores, across nations. As with the increasing
Globalization the urgency of the abovesubject could be sensed.
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It could be comprehended that retaining all customers might not
be the most favorable for companies. CRM systems can assist
sales and marketing process to identify advantageous customers
faster and more reliable than any other resources. With theintroduction of the application of CRM, the organizational
capacity to act and react to the market conditions has increased
enormously. It facilitates the segmentation and target marketing
management of the customer base; thereafter the retailer can
subject CRM efforts to build Target Marketing effectiveness, of
seasonal programs and promotions and thereby ensuring a higher
share of the customer's wallet, in addition to meeting the customer
needs.
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