CUSTOMERS RELATIONSHIP MANAGEMET AT TESCO A Must, Every Customer Wants to be satisfied 7/7/2011 Name: Table of Contents Chapter 1. Executive Summary …. …. …………………………. ………………3 Chapter 2. Literature Review……………………………………………………4 Chapter 3. Limitations to Research…………………………………………….. 6 Chapter 4. Research Methodology………. ………………………. …. ….. …….. 7 Chapter 5. Research Findings and Results ……………… …….. …………………9 Chapter 6. Evaluation…………………………………………………………… 10 References ………………………………………………………………………………………….. 11 List of Tables 1. Customer Feedback …………………. …………………………………. …………….. 9 Chapter 1. Executive Summary These days customer satisfaction is becoming too important part of industry. It also help to generate revenue & loyal customers. Customer Relationships Management deals with issues related to customers like addressing their queries. Basically it’s the management of interaction between the business & the customer. With help of above mentioned points we can understand the importance of CRM. Please see below: • Loyal customers are too important for the company • Proper implementation of CRM will increase the faith of customer in the business Helpful in generating more revenue • Attracts new future clients In the following chapters we will discuss CRM importance & how important it is to explore this area of new studies. For this we are going to consider TESCO CRM. Some of the areas of its application are as follows: • Act as interface between customer & organization • Help to automated all related processes • If done properly can act as a great marketing tool • Helps to establish loyal customers • Can result in profit making part from customer process automation • Really helpful in managing after sales services
Chapter 2. Literature Review CRM will be the key industry in coming times. Every company wants loyal customers. Tesco really has a vision to understand their customers. They really worked in innovative way towards customer loyalty & satisfaction. We can clearly see how seriously TESCO things about a effective CRM (Brayan, 2002). TESCO also uses CRM to boost its sales & as marketing tool too (Humby, 2003). We will study the nature of different type of customer relationship management strategies adopted by TESCO from time to time.
One has to remember that CRM activities of TESCO greatly reflects their marketing strategies too & vice versa such as in 1979 they launched “Checkout at TESCO” which is a price cutting campaign, in 1985 “Healthy Eating” initiative was introduced which will address the nutritional point of view. Similarly in 1990 they came up with three type of store plan that is TESCO METRO, EXPRESS & EXTRA STORE. The customer service section of TESCO is always impressive. Their “First Class Service”, “Loyalty Card Scheme” etc are exceptional in the particular segment.
They always follow a unique way of customer relationship management (Francis, 2009). Aim Our research aim is “To find out relationship between CRM at TESCO & TESCO success story”. An attempt will also be made to study how important CRM is for a business & how positively it can affect the business. Limitations of Research Everything has a positive & negative aspect too. It is very important to consider all limitations during a research as if not addressed then will affect your decision making process.
The major limitations for our research are limited funds, short timeline, small team size, & confined to particular area Research Question 1) Is customer relationship management helped in success of brand TESCO in UK & also worked in parallel as marketing tool? Research Objectives 1) To show the effectiveness CRM at TESCO & make people aware of them. 2) To show that innovation always plays important part in business. 3) To show that how tightly CRM activities are related to company’s profit. Data Collection & Research Methods
For data collection we will be using form filling & paid email surveys & in research methods we will following both qualitative & qualitative methods which were further which will later broken down into typology, data mining & logical analysis (Robert, 2009). Conclusion What we conclude is important with respect to our research. Our conclusion must satisfy our research aim. In this respect our research aim is “To find out relationship between CRM at TESCO & TESCO success story”. Chapter 3. Limitations to Research If a coin has a head then it also has a tail well same here in this research case.
Our topic of research “Customer Relationship Management at TESCO” one can see various limitations which can affect the research. There are some limitations to our research which given below: 1. Lack of funds for the research. 2. Confined to a particular area only. 3. Variety of data is there. As one can’t exactly assume a choice of information filled from target people. 4. Time period for the research is short. In future I want more time availability as then will have more data to analyze. 5. Want more people to help out in the research so that we can have more stall, survey etc. Chapter 4.
Research Methodology Every research has certain methods & analyzing process which it uses to collect data, transformed it to meaningful information & analyzes the result. Data Collection Methods • Form Filling Method • Paid Email Survey • Getting Company’s Sales Data(Optional as company permission is required) Process to show how data is collected • In respect to form filling we will put up stalls in front of TESCO outlets for a two weeks & offer a complimentary soft drinks to the people who will fill up the forms. Our target is to get 10000 forms filled by the end of the second week.
Then we will transfer form data to the database so that it will be easy to analyze. • If we will get the company sales data then we will already have the data that is converted to information. It would be really easy to analyze then interprets it for decision making. But for that we have to convince the company that it would not be used in wrong & it’s difficult. • We will search social networking sites like Facebook, Twitter, Various communities over internet which will consist of people from UK & specially above 21 years of age people. Then get the email ids and mail them all.
We have set target of 5000 dollars only. Only 1000 people who will reply to our emails will be paid excluding the people who are already covered in form filling campaign. Research Analysis After successful collection of data the next step is to analyze it with help of selected analyzing methods. Analysis is the main thing when it comes to decision making. The various methods of analysis which we will use are as follows: 1. Typology: It is a classification system which will be taken from patterns of data, themes, or other kinds of groups of data.
Some of the main categories of typology are as follows: • Structure for Research and Research Designs • Data Collection & Quality • Data Management • Data Handling • Data analysis • Software and Simulation • Research Management • Application of Research • Research Skills • Communication and Dissemination 2. Data Mining: It is the technique of analyzing data from different perspectives and then summarizing so that we can get useful information. Primary source of data is database here where we have put all the data from forms & email survey. . Logical Analysis: Consist of extracting from a set of instances that are sharing a common attributes or properties, one or more logical relations are satisfied by a large number of those instances. It is also seen as high level mathematical tool for analysis. Chapter 5. Research Findings and Results How to obtain a result and find relevant information from the data is a challenge. Some of the important findings with help of form filling & paid email survey process are given below & please note all numeric data is concerned with percentage:
Satisfied with Present CRM at TESCO |Satisfied with after sales services |Do you want 24X7 customer support |Need more flexibility exchange & return policy |Satisfied with query response time |TESCO CRM is good in maintaining company & customer relationship |Are you happy with payment options & refund policy |Is it right to say that what TESCO SAY THEY DELIVER | |82 % Yes |79% Yes |49% Yes |69 % Yes |63 Yes |57 % Yes |65% Yes |73% Yes | |Figure 5. 1 Customer Feedback Table
It not possible to mention all the findings but I will able to find that TESCO schemes like “Checkout at TESCO”, “Healthy Eating”, “First Class Service”, “Loyalty Card Scheme” etc marked great impression of TESCO initiatives with respect to its customers. Our research on customer relationship management is concerned to address dependent & independent variable which will affect CRM at TESCO. Please refer the below given list for the same: • Independent Variables 1. Customer Service 2. On time delivery 3. Pricing of the products & services 4. Specialization in particular activities • Dependent Variables 1. Customer Satisfaction . Level of recommendation 3. Level of re-purchase 4. Loyalty of the customer Chapter 6. Evaluation In Evaluation we will answer the following points with reference to our research: 1. How did a process works? 2. What will make it better? 3. What extra can be done next time? 4. What we were trying to achieve is achieved or not? 5. Target people are satisfied or not with our research? 6. Any type of changes needed and if yes then how to achieve it? 7. Funds available were enough or not? With help of evaluation we can determine the quality of research on Customer Relationship management at TESCO by judging the outcomes.
It is important as well as for self assessment of the research. In the end I must say that CRM at TESCO is dedicated towards customer satisfaction & expectations resulting in overall growth of TESCO as a brand. References Robert, K. , 2009. Research Design & Methods. 4th ed. California: Sage Publications. John, W. , 2005. Research Methods. 2nd ed. California: Sage Publications. Don, P. ,1996. The One to One Future. 2nd ed. London: Doubleday Publishing. Brayan, B. , 2002. Essentials of CRM. 1st ed. New York: Wiley Publication.