Customer Relationship Management (CRM) builds a strong relationship with customers. The strategy focuses on the potential customers, those are maintaining a good relationship with the company and company has made a good profitability through those customers. This is a process of making a good customer base, catering the company’s product and make it beneficiary for the company. The process is customer-centric and efficient decisions from the company also helps to provide the best customer satisfaction through the process. Through the reduced cost factors and holistic process of attracting, customer retention is the main process in that case (Nguyen & Mutum, 2012). This process can also engage some new customers and with the existing one.
In this report, the use of electronic CRM tool Zoho along with the loyalty programme of Zara will be discussed (Zoho.com, 2018) (Zara.com, 2018). The process of Value Creation and Multi-Channel Integration Process are important for defining the CRM aspect and strategic implementation of both the processes over the company is important in this report.
The core process of CRM is related to customer satisfaction and leads to the distribution in proper manner. The cross-selling opportunities, in this case, are high and integrated customer service process is important in that aspect. The attitude of the customers and their need from the organisation is important for the executives. The process of increasing sales effectiveness is important and best-suited sales from the customers' perspective encourage the process.
The process of learning about the customers and their decision-making thought process is important in that case. This is a process of developing relationships and interacting personally with customer and try to interpret their thought and then implement such kinds of things. The process of handling customers and segmented them in some sections is another process of maintaining the process (Malthouse et al., 2013). The retention of customers and maintain their rights in the organisation is important in that case. The increase of customer values and focus on building relationships by any process is important in that case. The process also encourages the revenue generation at the same time. The operational change and customer assimilation provide an opportunity for the company to make their revenue build up at a string level.
Companies are trying to retain their maximum percentage of customers but in the general perspective, customers are not retaining at that percentage. Rather 5% retaining is huge for the company in this globalised world. There is some competitive nature of businesses and every company implements their CRM strategy in their own way. 70% repeat customers come at the shop because of the brand availability or the issue of distance, but not the loyalty (Wang & Feng, 2012). The reason behind the CRM is to maintain the fact and easy access to customers so that customers will get the premium access through the process. There are three kinds of CRM like Operational, Analytical and Collaborative. All these have different job role with providing the support, analyse and collaborate with customers in different means.
The chosen CRM tool is Zoho and the tool easily integrate into the existing apps like google apps, Mail Chimp, Microsoft Outlook etc. The tool has several numbers of features at the competitive price range. The price range of the tool is productive for the company also to engage the application and direct that for the development of the company. The basic linking with the customers is the main concern of that tool and that engagement brings revenue generation for the company by engaging existing customers.
The process of lead conversation rate improvement
Improved revenue increase per salesperson
Decreased sales cycle
Decreased sales and marketing costs
Table: Functions and features of Zoho
(Source: Zoho.com, 2018)
The features are to flow the work in a formulated form, which directed at the right way and bring more productivity for the company. 53% higher conversion rates are found in that case and that formulated in case of repetitive customer engagement with the organisation. The increased rate of Zoho and their productive nature is also important in that case. 23.4% higher annualized growth rate is there and that maintained through a hierarchical process (Khodakarami & Chan, 2014). Starting the process of the customer relationship is the initial stage, then new contact established through the process, some of them are easily connected and some are not, then attempt for those unreached customers is also important. In between the connected customers, some are interested and some are not. Interested people are considered as quailed and the rest become unqualified (Zoho.com, 2018). The entire scenario of the process is formulated in this way and evaluates the productivity of the company. The tool is integrated with some of the favourite products of people like MS Outlook, Facebook, G Suite, Zoho Mail, Twitter, Zapier, Zoho Survey, and Zoho SalesIQ and the company is being trusted by more than 50,000 business globally (Zoho.com, 2018). The tool tries to find out the inside story of the business and that also help to find out the flaws in the process and scripting a better output for the process.
The major function of Zoho is to promote the re-usability of product and make a bridge between customer and company (Zoho.com, 2018). The reliability is the desired outcome from customers and then only company takes some feedbacks and work over it. There are some actions like a creation of innovative projects that attract people and evoke them for those products. The created segments from Zoho are building powerful databases, manage business process and low code platform. The creation is something that processes the extra ability for the company to motivate in a right direction for the innovative development that engages customers. The easy migration process form MS Excel, MS Access, Quick base, Casipo, Google Sheet and Filemaker also increase the span of the business credibility and Zoho has that range to cater all these segments (Zoho.com, 2018). The automatic upgradation of the tool is also important and that will make enough opportunity for the organisation. The deal status in this tool is closed won process. The contact of 3rd party accounting software and invoice process is not required in that case.
The basic aim of value creation is to provide help to customers and creating value for stakeholders for increase stick prices and future availability of investment. The production values and their selling process is important in that case and creating high performances with the help of strategic innovation is the major aspect in that case (Amoako et al., 2012). The innovation, technology, communal relation and brand value of the product provide enough opportunity to customers to invest their money for the good products.
There are three main steps for the beginning of customer engagement and access an alternative way of revenue generation for the company. These are the stages of value creation also. The process begins with customer and the process determine the need of the customer and deliver what actually wanted from that end (Austin & Seitanidi, 2012). The second stage is to continue and collaborate with customer in a form of expert process. The capabilities of external pressure and emerging growth opportunities for the company has come in that section and that aligned in a formative process of business (Austin & Seitanidi, 2012). In the third stage, work with customers is the next one that associated with the retention policies and extra loyalty facilities for those repeat customer are important in the case of the sustainability of the company. The value of the service and quantify value for both customer and company is evaluated through the process. The in-depth economic impact also judged by the process and customers demand and interest has also proceeded through the innovative path of excellence.
In case of the multi-channel integration process, CRM strains two-way interaction from company to customer and from customer to company to construct the consumer benefit over time. The multi-channel integration process uses the digital space and in addition to the traditional use of challenge. The process of demand ware makes the multi-channel integration process easy and relevant (Verhoef, Kannan & Inman, 2015). The point of sale, secure commerce platform, order management, and digital commerce technologies are used in that case. The innovation and automated upgradation in Zoho is a kind of this process that unifying customer experience across all channels (Verhoef, Kannan & Inman, 2015).
There are different benefits of the multi-channel integration process. The process of delivering unified experience by delighting customers is the first benefit from that process. The unforeseen consumer expectations are also noticed through this process (Verhoef, Kannan & Inman, 2015). The process also manages product information from catalogue and sites and help customers to choose the right one for them. The increase innovation at the point of sale is important in that case and online orders are included in that process. In this report, Zara needs to implement their CRM tool in a right way so that innovative process of marketing will be managed. Streamline the process of multi-channel integration fulfilment is there and increasing inventory turn is there with the company (Zara.com, 2018).
The strategic recommendation process has some competitive scopes of broad targeting and narrow targeting. The process of broad targeting based on the cost leadership and the leadership process initiate on the cost focus. Products are sold through the cost-effective channels. The process of differentiation signifies the uniqueness of valuable customers and their difference from other existing ones (Johnston & Marshall, 2013). The target market is high in that case and the company is looking for the scope targeting process. There are three evaluative processes that can be initiated for the competitive advantage of Zara. The use of Zoho and the process of CRM in that situation is important for new strategies (Zoho.com, 2018). Operational excellence, Product leadership and Customer intimacy these are the value discipline process of low price and service convenience. The cost of quality is mitigated by the productivity, selling and the revenue generation process of the company. Skilled employees are needed in that case and use of right technologies and real-time data collection are the main benefits get from their end.
Therefore report can be concluded that the marketing service of the Zara needs to take effective CRM tools for the innovative steps in business. They have some innovations like other big companies, but the effectiveness of reaching those innovations to customers and maintain a good relationship with them is the key process in that case. The effectiveness and the opportunity of CRM and their value creation and multi-channel integration process analysis is also there with the aligning process of product improvement in Zara. The process of getting better revenue is the ultimate need from that process so the effective CRM and their significance are highlighted throughout the paper.
Amoako, G. K., Arthur, E., Christiana, B., & Katah, R. K. (2012). The impact of effective customer relationship management (CRM) on repurchase: A case study of (GOLDEN TULIP) hotel (ACCRA-GHANA). African Journal of Marketing Management, 4(1), 17-29.
Austin, J. E., & Seitanidi, M. M. (2012). Collaborative value creation: A review of partnering between nonprofits and businesses: Part I. Value creation spectrum and collaboration stages. Nonprofit and Voluntary Sector Quarterly, 41(5), 726-758.
Johnston, M. W., & Marshall, G. W. (2013). Sales force management: Leadership, innovation, technology. Routledge.
Khodakarami, F., & Chan, Y. E. (2014). Exploring the role of customer relationship management (CRM) systems in customer knowledge creation. Information & Management, 51(1), 27-42.
Malthouse, E. C., Haenlein, M., Skiera, B., Wege, E., & Zhang, M. (2013). Managing customer relationships in the social media era: Introducing the social CRM house. Journal of Interactive Marketing, 27(4), 270-280.
Nguyen, B., & Mutum, D. S. (2012). A review of customer relationship management: successes, advances, pitfalls and futures. Business Process Management Journal, 18(3), 400-419.
Verhoef, P. C., Kannan, P. K., & Inman, J. J. (2015). From multi-channel retailing to omni-channel retailing: introduction to the special issue on multi-channel retailing. Journal of retailing, 91(2), 174-181.
Wang, Y., & Feng, H. (2012). Customer relationship management capabilities: Measurement, antecedents and consequences. Management Decision, 50(1), 115-129.
Zara.com (2018) ZARA retrieved from: https://www.zara.com/es/en/new-in-l877.html [Accessed on 9th September, 2018]
Zoho.com (2018) Get more leads, track your pipeline, and close more deals faster retrieved from: https://www.zoho.com/crm/lp/general crm.html?gclid=Cj0KCQjw78vLBRCZARIsACr4cxxzASJeiy3qsT9UJZi1VNlTJekt6Hod77fKcOl4ePcVbkZkmRk7JvgaAhI1EALw_wcB [Accessed on 9th September, 2018]
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2020). Marketing Of Services And Relationship. Retrieved from https://myassignmenthelp.com/free-samples/mkt335-marketing-of-services-and-relationship.
"Marketing Of Services And Relationship." My Assignment Help, 2020, https://myassignmenthelp.com/free-samples/mkt335-marketing-of-services-and-relationship.
My Assignment Help (2020) Marketing Of Services And Relationship [Online]. Available from: https://myassignmenthelp.com/free-samples/mkt335-marketing-of-services-and-relationship
[Accessed 01 April 2020].
My Assignment Help. 'Marketing Of Services And Relationship' (My Assignment Help, 2020) <https://myassignmenthelp.com/free-samples/mkt335-marketing-of-services-and-relationship> accessed 01 April 2020.
My Assignment Help. Marketing Of Services And Relationship [Internet]. My Assignment Help. 2020 [cited 01 April 2020]. Available from: https://myassignmenthelp.com/free-samples/mkt335-marketing-of-services-and-relationship.
Economics is a difficult subject to tackle with principles and characteristics of oligopoly and other forms of market. However, if you are finding it hard to answer oligopoly characteristics, you should avail expert service at MyAssignmenthelp.com. Our experts act as the ghost writer behind your success story and provide ideal solutions. The assistance involves gathering insightful data, proofreading, revision and plagiarism check all at an affordable price. Moreover, the business report is also provided by our writers to cover a wide array of topics in economics.
Answer: Introduction Innovation is the key to success in the current business scenario due to the reason that innovation can only help in meeting the changing trends of customer requirements. Consumer goods sector is one of those sectors, which is witnessing rapid change in the taste and preference pattern of the customers (Jay 2016). Fonterra is operating in this sector and offering different dairy based products. However, they are also witn...Read More
Answer: Introduction The report relates to an anti-drug campaign using the best marketing approach. The marketing campaign aims at persuading the youth to refrain from drug and substance abuse. Additionally, the marketing campaign uses the best approach to capture youth’s attention such as social media and television advertisements. Furthermore, the anti-drug campaign will choose the best approach to reach the youth and minimize expendi...Read More
Answer: Introduction According to Johnson et al. (2015), the organizations in an industry are able to develop different strategies with the help of proper analysis of the external environment. The internal factors can affect the decision making process of modern organizations. The analysis of organizational environment is considered to be a major part of the decisions and strategies that are developed by organizations. The strategies ne...Read More
Answer: Cadbury Oreo Product Overview Cadbury Oreo is a brand of cookie that is filled with vanilla in between and the product is marketed as Chocolate Sandwich Cookie. The product was introduced in the market in the year 1912 and is regarded as the bestselling cookie in US till date. The product is available in more than one hundred countries present worldwide. Oreo biscuit is now being produced in different varieties due to the increasing d...Read More
Answer: Type of Innovation in DiDi In the DiDi App, the company tried to approach their clients for the goal area along with time and the pickup. Furthermore, the company decided to go for all the signed in drivers, and the speediest ones got the request. Additionally, DiDi application offers the additional type of administrations such as booking for the test drive, hailing of the taxi, carry van and hailing of transport. Moreover, the ...Read More
Just share your requirements and get customized solutions on time.
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
I was very satisfy with that work and I think you for it because if wasn\'t for your help it would be very hard considering my writing
assignment was done within the promised time frame. The professor has not yet graded the assignment.
I was very pleased and happy with the turn over and presentation of the assignment. i will be recommending it to my family and friends
The assignment was good. I was pleased, it answered all questions asked although I had to complain a number of times.