CRM is the objective relationship management. For this reason, it is the first step to create an organizational strategy that can maximize customer relationships. A CRM team must be established within the enterprise. Only top management and consultants will be sufficient when making such a change. Synergy is absolutely necessary for change relationship management. CRM helps companies make sense of customer needs, manage these relationships more intelligently and help predict the future (Dominici and Guzzo, ). Sobotie and Oduro-Senya () indicated limited revision of literature on CRM in Ghana. This research is therefore, an attempt to improve andFile Size: KB This research examined the customer loyalty process through relational marketing, using Customer Relationship Management (CRM) strategies. A market study was conducted to analyze the current
Customer Relationship Management Research Papers
The purpose of this research paper is to analyze the impact of Customer Relationship Management CRM on BMW, as CRM is one of most effective strategic tools to change the consumer behaviour. This paper concentrates on the number of issues like conceptual framework of CRM, the adoption of CRM framework, research paper customer relationship management crm, CRM in the automobile industry, methodological framework, customer database, the effectiveness of CRM strategy on this company, the position of BMW, and so on.
With such a strategic alignment, it is suspicious whether the CRM practice of BMW would be collapsed or cut its existing standard. Under such a background problem, the aim of this research paper is to provide a clear overview of CRM about BMW to identify the best customers and their choice in order to offer best service to retain the loyalty of customers by maximising current and lifetime value of customers. This literature review has been organised with research paper customer relationship management crm sub-chapters based on prominent authors and outstanding researches by most famous theoreticians of concurrent CRM study.
Thompson, A. et al. Starting from nineties, the corporate world has been keeping more emphasis on CRM as a fundamental component of Enterprise Resource Planning and the corporate houses taken huge imitative to standardise and categorise the informational resources with large investment with the aim to enable the corporate firms to prop up CRM as well as e-commerce to generate sustainable growth. Stoner et al 87 added that, there are four obligatory elements, which are essential for triumphant implementation of CRM and the four tools has driven from the theoretical framework of CRM implementation and these are research paper customer relationship management crm in the figure below.
These four essential elements to successfully putting into practice of CRM at any organisation are concerned with — relationship marketing, apposite organisational structure, control of data warehousing and data consumption for customer management, and the four elements generate the framework of CRM necessary for any organisation that intend to implement. The basic principal of CRM has put down on the philosophy of relationship marketing while the succeeding feature of CRM adoption has concerned with suitable organisational structure along with data warehousing is the third significant feature to the centre of attention on to effective formation of a triumphant CRM accomplishment and next to lay emphasis on data utilisation.
Robbins and Coulter addressed that the join up of the above four rudiments of CRM implementation should support the organisations to get better outcomes in their marking drives as well as business operations though there are a number of obstacles to introducing a CRM system for a particular organisation. Nevertheless, the most awful limitations may include as lack of skills, malfunction to appreciate the benefits, insufficient investment, underprivileged quality of data, and poor evaluation structure where the skills for data shortage by using the new system is the most significant dilemma of CRM implementation.
IBM Business Consulting Services 8 explained that the CRM of automobile industry has turned just into a slogan in the rather than appropriate integration and evidenced that the sector has lacking with the understanding of the core values of CRM.
The contemporaneous automotive consumers are progressively hold greater information than ever about the market and have an extraordinary altitude of choice while customer loyalty has no more forward-looking approach in the automobile industry and research paper customer relationship management crm the auto manufacturers and traders have to work hard to research paper customer relationship management crm and retain customers in the competitive market position.
To interact with the tremendously high customer expectations in this ear, auto manufacturers, dealers, and traders are eager to provide efforts for CRM to ensure effectual marketing boosted sales and quality customer service.
As the word limit and time is too short, this report will formulate only with secondary data sources due to availability of this sources with low cost and effort. In addition, these sources have already recognized by the publisher, therefore, this report will use several published management books of renowned authors, previous published research works on CRM issues, research paper customer relationship management crm, annual report of BMW Group, and so on.
To develop the product quality, service range and increase profits, BMW has been maintained CRM strategy since Building a customer database was the initial activities for this company to establish their relationship with the customers, and BMW has strong network with IT infrastructure, for instance, it uses the application of Siebel Systems to gather information about the customers.
BMW is committed to follow data protecting acts research paper customer relationship management crm the company has corporate social responsibility and values to maintain privacy policy strictly.
Most of the customers believed that after sales service of BMW was not that much satisfactory and few customers dissatisfied with BMW because the cars are user friendly and BMW would not like to provide prompt feedback Finlay 1. On the other hand, many the satisfied customers argued that they receive quick response from BMW about their problem and the company monitors their problem seriously and offered free service while they find appropriate. However, one of the major problems of the company regarding efficient management of CRM is customers after buying the car want to share their problems of using the car with the company and BMW is not able to concentrate equally on all of the customers.
Here it is important to mention that the customers buy BMW cars from the dealer point and the after-sale service also provided from the sales point; therefore, the customers contact with dealer to solve their problems and BMW gives the service through the dealer point.
BMW has both direct and indirect competitors of different brands, such as, General Motor GMMercedes-Benz, Research paper customer relationship management crm AG, Volkswagen Group, Honda, Toyota, Ford, Nissan, PSA Peugeot Citroen, Hyundai-Kia, Suzuki, Fiat, and Alfa Research paper customer relationship management crm etc.
According to the annual report of GM Corporationall competitors have maintained CRM program in order to retain old customers and develop new customers for the company.
The market share of BMW Group and customer satisfaction rate are lower than that of competitors in the global market, which indicates that CRM performance of this company is inferior to the industry rivals.
However, Buttle 28 stated that the relation with the customers reflected the sales volume share; so, profit trends and numbers of car sales indicate the success of CRM of the organization. According to the report of Shankar 1Toyota Corporation was able to generate highest revenue in by selling the maximum number of car in global market.
In contrast, BMW was not in top ten automobiles though previous years it held sixth position in terms of car sales, which demonstrates the poor condition of CRM of the company as top ten companies produces similar cars and offers high quality products. The relationship of Volkswagen, Ford and Toyota with the customer is stronger than BMW and this company need to fill up this gap immediately to become market leader.
According to the annual report of BMW, the company experienced economic problem in due to global financial crisis but it has generated about However, most of the automobiles faced crisis in and recovered the position gradually but it is not in top ten for losing On the other hand, this company is less responsive to the market especially in the year where customer face economic problem and cannot afford high cost luxurious cars, but it did not reset its pricing strategy and showed any interest to produce low cost cars.
Buttle, Francis. Customer Relationship Management. London: Butterworth-Heinemann, Caly, Ralf. How BMW Channels Information to Everyone Involved in a Car Purchase: An Interview With Ralf CalyCustomer Think Corporation, research paper customer relationship management crm.
IBM Business Consulting Services. Challenges for the automotive industry in an on demand environment. Top 10 Highest Motor Manufacturers in the World Stoner, Finch, Freeman Edward. Delhi: Prentice-Hall, Robbins, Stephen.
New Delhi: Prentice Hall, Thompson, John. Strategic Management. New Delhi: Tata McGraw- Hill Publishing Company limited, Need a custom Research Paper sample written from scratch by professional specifically for you? certified writers online. The impact of Customer Relationship Management CRM on BMW. We use cookies to give you the best experience possible. If you continue, we will assume that you agree to our Cookies Policy.
Introduction The purpose of this research paper is to analyze the impact of Customer Relationship Management CRM on BMW, as CRM is one of most effective strategic tools to change the consumer behaviour. Learn More, research paper customer relationship management crm. We will write a custom Research Paper on The impact of Customer Relationship Management CRM on BMW specifically for you!
Not sure if you can write a paper on The impact of Customer Relationship Management CRM on BMW by yourself? Brand Number of Cars Production Toyota Volkswagen Ford PSA Peugeot Citroen 3, Hyundai-Kia 2, BMW Audi 91, Nissan Honda Fiat This research paper on The impact of Customer Relationship Management CRM on BMW was written and submitted by your fellow student. You are free to use it for research and reference purposes in order to write your own paper; however, research paper customer relationship management crm, you must cite it accordingly.
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How to Achieve CRM Implementation Success [CRM Software, Customer Relationship Management]
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This research examined the customer loyalty process through relational marketing, using Customer Relationship Management (CRM) strategies. A market study was conducted to analyze the current Customer Relationship Management (CRM), Patient Satisfaction, Karnataka, Halth Informatics Interdisciplinary Journal of Contemporary Research in Business With change as the only constant in today‟ s global economy, organizations need to build learning capability-„adaptive learning‟ as well as „generative learning‟, to enhance the ability of employees at all levels to learn faster than CRM is the objective relationship management. For this reason, it is the first step to create an organizational strategy that can maximize customer relationships. A CRM team must be established within the enterprise. Only top management and consultants will be sufficient when making such a change. Synergy is absolutely necessary for change
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