THE ROLE OF CUSTOMER RELATIONSHIP MANAGEMENT Harvard Case Solution & Analysis

THE ROLE OF CUSTOMER RELATIONSHIP MANAGEMENT Case Study Solution 

The research study aims to evaluate the effect of applying the concept of customer relationship management (CRM) on the everyday organizational practices the effective policies and procedures and their implementation on customer satisfaction and retaining the customers. It provides an opportunity to the organization to investigate and discover about the needs of the customers. By this way, the company can attract new customers and develop their clientele.

The approach used during the research was survey (survey monkey) to collect the data. The sources from where the data is collected are authentic. The diversification of the respondents and opinions taken is based on the questionnaire segments that I have provided to the website and collects the results for the research

Furthermore, the areas on which the research is based is to evaluate the distinctive roles that the CRM plays for the cost reduction and operations efficiency of the organization and the need to establish the sustainable CRM to achieve customer’s satisfaction. Additionaly, there is positive impact due to the effective operation of CRM to the profits of the company.

INTRODUCTION:

Customer relationship management is a wider term that is used to describe the people policies and procedures used by an organization to deal with the customers. It comprises of strategies which are used by the organization to sort out the queries related to products policies or any other organizational practices. Technological measures used by the organization combined with marketing to bring the best of the responses to the customers and to take care of the needs of the customers. The concept of customer relationship management was first made in operation in the US during 90’s and after the success in US, it accepted and practiced worldwide. The automation of the customer relationship process brought revolution, especially when dealing in sales activities marketing of any new product. Technical support provided by the company through their service procedures serves the customers best of their experience.

Customer service operations are used to serve variety of purposes to establish cordial relations with the existing clients, to attract new promising clients and cutting down the costs to market the product as well as making strategies to reduce the cost. Customer relationship operations also help towards diversification of products brands across the world, in this era when competition between the companies increases and there are many substitutes available to the people for single product, these profound strategies are helpful for the clients. Customers provide base for building an organization, as well as they are very important aspect for an organization, relationship between customers and organization serves to be a long term goal for an organization. Developing favorable terms with the customers organization would be able to develop customer loyalty and in the long run, would turn to organization’s favor. Companies focus on establishing cordial relations with the profitable customers and that is how the overall growth prospects of the organization related to customers’ need and satisfaction can be achieved.

The methodology we use for our research is based on surveys that we had performed recently to base concrete conclusion and to analyze the role of various customers relation department serving in different organizations. The sample we took to base our survey consists of the people of different organization and their respective responses on the questions that we have asked to develop our analysis and conclusion.

RATIONALE:

The concept of customer relationship management is very important. When customers are satisfied and happy from the organization, it provides the organization to grow and to reform and make changes to provide better products to their customers. By taking regular feed backs and connecting with the customers, it provides benefits to the organization to meet the expectations of their customers.

The aspects which carries huge importance for organizations are:

  • Customer relationship is an important aspect to create edge over the competitors that provide similar products by providing efficient customer service companies can develop their name.
  • To create value for the existing customers and to plan effective strategies to win prospect customers.
  • When you are connected with your customers you are always updated about their choice taste and trends, which enables you to design your future related strategies.
  • Sales of complimentary other company’s products by highlighting their features and bringing about the knowledge.
  • It provides an opportunity to portray that your business is more friendly and cooperative and always there for the customers to provide the information and fulfilling the needs of the customers.

AIMS AND OBJECTIVES:

Any department of the organization that is established for a purpose serves for certain aims and objectives to be followed for fulfilling the purpose. Customer relationship management in any organization serves with range of purposes, they are people who deal with the customers directly and bring the favorable image of the organizations to people. The aims and objectives to be fulfilled by customer relationship management are:

  • Building customer relationships is the foremost objective of developing customer relationship department.
  • By having customer relationship department, the organization becomes aware regarding the needs and queries of the customer and any potential organization needs that information to make their service better.
  • They have to build the strategy of relationship marketing. Through relationship marketing, they identify the individual customers’ need, sort out the data, and use technology to bring the best product to the customers, and services that are necessary to perform for best relationship practices.

RESEARCH PROBLEMS:

The point or core topic, which is the reason for our research, is customer relationship management concerns. This term contain wide parameters which we have to explore in order to derive our set of results and conclusions in our respective area such as how customer relationship management has helped organization to achieve its goals and how it works for the benefits of the customers as well as the organization, the concerns which they usually encounter and the problems of establishing effective customer relationship concern, and lastly, what they effectively could do to achieve their pre-set objectives and how could they make their department useful for the cost reduction and management set objectives.

Specifically our research is based on investigating the role of customer relationship management and their contribution to the organization to improve profits and decrease costs. The role that customer relationship management plays to enhance firm’s sustainability. The qualities and elements that are needed to develop effective customer management and establishment of the department that contains all the characteristics of employee satisfaction and that help to enhance firm’s productivity.

RESEARCH QUESTIONS:

The questions that we are going to tackle in our paper can be briefly explained as:

  • The influences of customer relationship management, the effects and impacts that it brought to customer management in any organization.
  • By having CRM, the feasibility and productivity of customer relationship management to reduce the costs of the company in both local and international markets.
  • The benefits that the firm could achieve by sustainable customer relationship management strategies and operations.

HYPOTHESIS:

Ho:  customer relationship management strategies provide benefit to create value for the organization and serves for achieving customer’s satisfaction.

H1: customer relationship management adds value to the organization but does not achieve customer satisfaction.

H3: customer relationship management neither creates value for the organization nor provides long term customer satisfaction.

RESEARCH METHODOLOGY:

RESEARCH INSTRUMENT:

Our research paper is based on the survey process that we have done online with the help of survey monkey. It is online software that is used for data analysis. This analysis also provides tools for large size organization and for individual users too. By the help of survey, monkey consumer marketing can be done easily.

DATA ANALYSIS:

According to the survey that we have performed, there are different questions for which we got the answers of different people working in different kind of organization both genders male female and their respective responses:

As provided by our survey reports, it has been observed that customer relationship is prioritized in the organizations and they are giving importance and value to the customers and building cordial customer relationships. We have counted 53 responses for that question out of which 29 strongly agree and 18 also agree. This huge percentage supports the fact that the organization values customer relationship building.

Organizations also incorporate the importance of customer relationship strategies in their corporate strategy making them recognize the importance of developing cordial relations with the customers and recognizing this fat that in this era of modern technology, the technological advancement is very necessary, and by opting best organization information handling practices firm can handle the queries and information related to their current customers and prospect customers very well.

Through our survey, we came to know the fact that organizations clearly identify the types of their customers therefore, by adopting customer relationship tools and techniques, the organization gets a lot of benefit and this data help them to design and redesign their product range. Identification of customer type and priorities help them to transform their product design and techniques.

The survey indicates that employees are confident about the fact that the organization is capable of providing excellent customer services at any point of time. This is because the survey indicates that a number of employees agree to that point and support the organization that takes care about the needs of the customers’ query.

There is no question mark on the fact that customer relationship management is a great transformation in dealing customers and provides greater opportunity to the organization to ensure quality standards and maintain the standards to provide efficient customer service.

THE ROLE OF CUSTOMER RELATIONSHIP MANAGEMENT Harvard Case Solution & Analysis

 

The information gathering, sorting organizing and then interpretation becomes easy as the survey supported that CRM provides simple environment for dealing with customers. Customer relationship adds value to the organization. An organization having all the core qualities to become successful, as well as having customer friendly organized environment adds value to the organization and supports to get the name and success among customer and to win customers’ loyalty..................

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