Project report on customer relationship management pdf

project report on customer relationship management pdf

A Project Report On “CUSTOMER RELATIONSHIP MANAGEMENT” Project Report Submitted in partial fulfillment of the requirements for the award of the. Customer Relationship Management, Project Report on Customer Relationship Management, “Why customer relationship management” database for customer. declare that I allow this Final Year Project Report to be kept in This is a project to develop a Customer Relationship Management (CRM) system. CRM is one of Available from: dubaiairporthotel.info

But today there is a radical transformation. The changing business environment is characterized by economic liberalization, increasing competition, high consumer choice, demanding customer, more emphasis on quality and value of purchase etc. Modern marketing calls for more than developing a product, pricing it, promoting it and making it accessible to target customer.

It demands building trust, a binding force and value added relationship with the customers. The process of developing a cooperative and collaborative relationship between the buyer and seller is called customer relationship management shortly called CRM. CRM aims to make the customer climb up the ladder of loyalty. The company first tries to determine who are likely prospects i. The company hopes to convert many of its qualified prospect into first time customers and then to convert those first time customers into repeat customers.

The next challenge for the company is to convert these client into advocates. Advocates are those clients who praise the company and encourage others to buy from it. The ultimate challenge is to convert these advocates into partners where the customers and the clients work actively together to discover ways of getting mutual benefit.

Thus in CRM the key performance figure is not just current market share but share of life time value by converting customers into partners. Eight ways to keep customers for life 1. People want to do business with friendly people. To have effective relations a friendly attitude must permeate in the organization. Information technology developments should be positively used to serve the customers. The company should communicate with its customers even when it is not trying to sell something.

The company can communicate and develop stronger customer bonding by providing financial and social benefits.

The company should try to know all its customers including their lifestyles, hobbies, likes and dislikes etc. The company should make it a point to deliver more than what is promised.

CRM in the Textile industry In textile industry one company sell its product to another company. For example a yarn manufacturing company sell to fabric manufacturing company.

A fabric manufacturing company sell fabric to apparel company.

project report on customer relationship management pdf

The main customers of the companies in the textile industry are the wholesalers. And the final product is sold to the wholesalers and retailers. In this industry the customers are few and profit margins are high. So CRM is very much necessary and relevant in this industry. There is a high degree of uncertainty on the part of the buyers, the likelihood of customers seeking a relationship is increased.

If the firm loses its customer it would be major loss to the firm. The product in the textile industry is complex and quality is an important factor. One of the major values the customer expects from vendors is quality.

No customer will tolerate average quality. Moreover there is a scope of customization in the product. The seller has to customize the product according to the need of the customer. Customization is changing the product according to the need of the customer in order to satisfy him.

Identify your customers To launch a one to one initiative the company must be able to locate and contact a fair number of customers or at least a substantial portion of its valuable customers. It is crucial to know the customer details as much as possible, not just their names or address, but their habits, preferences and so forth. Differentiating your customers Customers are different in two principal ways, they represent different levels of value and have different needs.

Once the company identifies its customers differentiating them will help the company to focus its efforts to gain the most advantage with the most valuable customers. Interacting with the customer Interaction is also a crucial component of a successful CRM initiative. It is important to remember that interaction just not occur through marketing and sales channels, customer interact in many different ways with many different areas of the organization so to foster relationship all the areas of the organization must be accessible to the customer.

Significance of the study The CRM customer relationship management is an integrated effort to strengthen the network of relationship for the mutual benefit of both the parties. They have to retain the customers for a long time to avail the benefit of their relations. The customer relationship management is one of the effective tool to identify, establish and maintain relationship with the customers. With the help of this research we are going to identify the importance of CRM in textile industry.

Focus of the problem The textile industry is basically manufacturing based industry. Through this study we are going to identify the importance of CRM in the textile industry. How it is benefited from CRM? Is their any relevance of implementing CRM? Kansai Nerolac Paints Ltd.

Project-Report-CRM-MBA-Marketing | Khyati Shah - dubaiairporthotel.info

Special thanks to Mr. This project would have been incomplete without his guidance and timely assistance. I am also thankful to all my friends who were very helpful throughout the project. I stand apologetic for the error if any.

project report on customer relationship management pdf

Growth of the paint industry has been consistent with the growth of Indian GDP. Paint industry growing at a rate of 1. Top 5 companies in India market are 1 Asian Paints Ltd. Kansai Nerolac Paints ltd. Kansai Nerolac has always believed that the key to its business is: They have very strong distribution network in domestic market for decorative segment also KNPL is leader in powder coating. Firms use technology as a key tool to enhance the information flow within their business units, helping their employees better understand the ever changing and increasing need and wants of their customers.

It is certain that the internet will continue to change the ways customers and organizations interact with one another in terms of speed and ease. This fact requires that the integration of internet technology into CRM activities occur at all levels throughout the organization.

project report on customer relationship management pdf

Thus, it would be wrong to say that keeping its customer satisfied is in the best interests of the organizations. The purpose of this study is to bring insight and deeper understanding into the objectives, strategies and the expected benefits of CRM initiatives by the organization. In the past producers took their customers for granted, because at that time the customers were not demanding nor had alternative source of supply or suppliers.

But today there is a radical transformation. The changing business environment is characterized by economic liberalization, increasing competition, high consumer choice, demanding customer, more emphasis on quality and value of purchase etc.

Modern marketing calls for more than developing a product, pricing it, promoting it and making it accessible to target customer. It demands building trust, a binding force and value added relationship with the customers. The process of developing a cooperative and collaborative relationship between the buyer and seller is called customer relationship management shortly called CRM.

CRM customer relationship management: For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so forth. According to one industry view, CRM consists of: CRM aims to make the customer climb up the ladder of loyalty.

The company first tries to determine who are likely prospects i. The company hopes to convert many of its qualified prospect into first time customers and then to convert those first time customers into repeat customers. Then the company tries to convert these repeat customers into clients — they are those people who buy only from the company in the relevant product categories.

The next challenge for the company is to convert these clients into advocates. Advocates are those clients who praise the company and encourage others to buy from it. The ultimate challenge is to convert these advocates into partners where the customers and the clients work actively together to discover ways of getting mutual benefit.

project report on customer relationship management pdf

Thus in CRM the key performance figure is not just current market share but share of life time value by converting customers into partners. Why — Customer Relationship Management: Benefits of Customer Relationship Management: CRM software provides a business with the ability to create, assign and manage requests made by customers.

An example would be Call Center software which helps to direct a customer to the agent who can best help them with their current problem. CRM software can also be used to identify and reward loyal customers which in turn will help customer retention.

Increase in customer retention Customer satisfaction ratings improved Service calls deflected from call center to online forum Reduction in overall customer service costs Marketing: CRM systems for marketing help the enterprise identify and target potential clients and generate leads for the sales team.

A key marketing capability is tracking and measuring multichannel campaigns, including email, search, social media, telephone and direct mail. Metrics monitored include clicks, responses, leads, deals, and revenue.

Alternatively, Prospect Relationship Management PRM solutions offer to track customer behavior and nurture them from first contact to sale, often cutting out the active sales process altogether. In a web-focused marketing CRM solution, organizations create and track specific web activities that help develop the client relationship.

This allows a business to use fewer sales representatives to manage their clients. At the core of SFA is a contact management system for tracking and recording every stage in the sales process for each prospective client, from initial contact to final disposition.

Many SFA applications also include insights into opportunities, territories, sales forecasts and workflow automation. In order to tailor a horizontal CRM solution, companies may use industry templates to overlay some generic best practices by industry on top of the horizontal CRM solution. Horizontal CRM vendors may also rely on value added reseller networks of systems integrators to build vertical solutions and sell them as 3rd party add-ons or to come in and customize the solution to fit into a particular scenario.

Vertical CRM vendors focus on a particular industry. As a general rule of thumb in CRM, it is ten times more costly to build a vertical solution from a horizontal software program than it is to find a particular vertical solution that is already tailored to your business model and industry.

How to introduce CRM in the company: To launch a one to one initiative the company must be able to locate and contact a fair number of customers or at least a substantial portion of its valuable customers. It is crucial to know the customer details as much as possible, not just their names or address, but their habits, preferences and so forth.

Differentiating your customers Customers are different in two principal ways; they represent different levels of value and have different needs. Once the company identifies its customers differentiating them will help the company to focus its efforts to gain the most advantage with the most valuable customers.

Interacting with the customer Interaction is also a crucial component of a successful CRM initiative. It is important to remember that interaction just not occur through marketing and sales channels, customer interact in many different ways with many different areas of the organization so to foster relationship all the areas of the organization must be accessible to the customer.

Instances of a CRM attempting to contain a large, complex group of data can become cumbersome and difficult to understand for ill-trained users. The lack of senior management sponsorship can also hinder the success of a new CRM system. Stakeholders must be identified early in the process and a full commitment is needed from all executives before beginning the conversion.

But the challenges faced by the company will last longer for the convenience of their customers. This fragmented implementation can cause inherent challenges, as only certain parts are used and the system is not fully functional.

The increased use of customer relationship management software has also led to an industry- wide shift in evaluating the role of the developer in designing and maintaining its software. Companies are urged to consider the overall impact of a viable CRM software suite and the potential for good or bad in its use.

Significance of the study: The biggest management challenge in the new millennium of liberalization and globalization for a business is to maintain good relationship with the king — the customer. Review of the existing literature: They have to retain the customers for a long time to avail the benefit of their relations. The customer relationship management is one of the effective tools to identify, establish and maintain relationship with the customers.

Objectives of Customer Relationship Management: