Question

Assess the impacts of the application of a CRM system on retailing and store management. How can this system support and improve the performance of both management disciplines? Propose different applications within this field of the marketing

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Answer 1

Customers’ relation management is an integral and essential part of the management. It concerns the relationship between an organization and its customers. It is a new concept for many businesses, and its application supports and improves the performance and disciplines of management by shifting the management focus from the products to the customers. It streams the offer to what the customers prefer and demands instead of what the organization could make by its products. As for as performance is concerned, the primary aim of the CRM is enhancing the customer service system and increasing the organization’s profit. It improves the organization performance by offering better service to the competitors.

In addition to this, its application minimizes the cost, wastage as well as complaints. It reduces the stress level of ht staffs due to attrition.It enables instant market analysis too with the opening of the line of communication with the consumers that give continuous market reaction to the products and service that is much better than the conducted market research.

It helps the organization retaining loyal customers and attracting the new potential customers as the referral to new customers by the existing customers. It reduces the chances of fire fighting as well as troubleshooting staffs. Thus, the service flows smoothly, and the team works more happily and efficiently.