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SYNOPSIS FOR RESEARCH PROJECT REPORT

(BBA-605)

On

A STUDY ON IMPACT OF CUSTOMER


RELATIONSHIP MANAGEMENT IN BIG BAZAAR
LUCKNOW

Towards partial fulfillment of


Bachelor of Business Administration (BBA)
(BBD University, Lucknow)

Submitted to: Submitted by:


Ms. Ragini Gupta Akhand Pratap Singh
Roll No. 1140671018

Session 2016-2017
School of Management
Babu Banarasi Das University
Sector I, Dr. Akhilesh Das Nagar, Faizabad Road, Lucknow (U.P.) India
1. TOPIC:

A STUDY ON IMPACT OF CUSTOMER RELATIONSHIP


MANAGEMENT IN BIG BAZAAR LUCKNOW

2. INTRODUCTION & REVIEW OF LITERATURE:

CRM In Retail Marketing( Big Bazaar)

Customer relationship activities have the most impact on customer retention. Every customer

service encounter has the potential to gain repeat business or have the opposite effect. The

expectation of personalized, relevant offers and service is becoming a primary driver of customer

satisfaction and retention in financial services.

What Exactly Is CRM?

The first thing you find when looking into the world of Customer Relationship Management is the

number of different definitions in use today.

Here is the one I have chosen for this Project:

"CRM is the business strategy that aims to understand, anticipate, manage and

personalize the needs of an organization's current and potential customers" -- PWC

Consulting .
CRM is a business strategy, one that puts the customer at the heart of the business.

Thats nothing new I hear you say, and you would be right. Good business people have

always understood the relationship between happy customers that come back again and

again and creating long term, sustainable profitability. Big Bazaar has realized this and

applied this to effect.

One just needs to think of the local shop owner who knew everyone of his customers names,

birthdays and particular ailments to prove that point. What is new is that there now exists the

technology to enable this customer-centricity on a much larger scale.

(Come To Big Bazaar- Isse Sasta Aur Achha Kahin Nahin)

It is said that a successful CRM implementation will allow your Customer Service, Sales and

Marketing people (and anyone else in your organization) to have a holistic view of each and

everyone of your customers. In theory this will enable them to make quick, informed decisions,

create cross selling and up selling opportunities, measure marketing effectiveness and deliver

personalized Customer Care. Sounds great doesnt it !!!


LIETARURE REVIEW

The basic reason for an organizations existence is to satisfy the needs of the customers and

through that may way for repeat patronage which will open the avenue for increased profit

making. One of the factors affecting the performance of an organization is customer relationship

management, which is the main focus of study.

Customer Relationship Management concerns the relationship between the organization and its

customers and asserted customers are the life-blood of any organization be it a global

corporation with thousands of employees and a multi-billion turnover, or a sole trader with a

handful of regular customers Beks, (2008). Customer Relationship Management is the same in

principle for these two examples - it is the scope of CRM which can vary drastically.

The organization and the customers both have sets of conditions to consider when building the

relationship, such as wants and needs of both parties; organizations need to make a profit to

survive and grow customers want good service, a quality product and an acceptable price.

Thompson (2008) illustrated that customer relationship management is an effective tool for

achieving positive organizational performance and which reflects an increase in profit, goodwill,

better product and service delivery. In recent times, questions have been raised as regards the

interactions between organizations and their customers. But the result is that many organizations

have poor relationship with their customers and this will lead to loss of goodwill and low profit

earning in the organization.

Customer relationship management looks at the whole process of what an organization is

involved in, whether it is a product or a service driven organization and it must involve every
aspect of what they do from suppliers through to the end application, from their internal staff

through to their customers customer Kim Jenner, (2008).

The ultimate purpose of CRM, like any organizational initiative, is to increase profit. In the case

of CRM this is achieved mainly by providing a better service to customers than competitors do.

CRM does not only improve the service to customers, a good CRM capability will also reduce

costs, wastage, and complaints. CRM also reduces staff stress, because attrition - a major cause

of stress - reduces as services and relationships improve. CRM enables instant market research as

well: opening the lines of communications with your customers gives you direct constant market

reaction to your products, services and performance, far better than any market survey. Good

CRM also helps you grow your business: customers stay with you longer; customer churn rates

reduce while referrals to new customers increase from the increasing numbers of satisfied

customers; demand reduces on fire-fighting and trouble-shooting staff, the organization's service

flows and the teams work more efficiently and more happily.

Customer satisfaction is a vital CRM variable that must not evade our empirical scrutiny. Indeed,

customer satisfaction is central to successful application of the marketing concept. Many

company mission statements and marketing plans are designed around the goal of increasing

customer satisfaction. (Claudia, et al 2001)

The concept of relationship is very complex because it relates to different disciplines but with

regards to the topic at hand, relationship or business relationship can be viewed or described

as being distinct from, but related to, concepts such as Enterprise relationship management,

consumer behavior and customer relationship management


Customer relationship management seeks to provide a complete and holistic model of business

relationships and business relationship value over time, in order to make the various aspects of

business relationships both explicit and measurable (Parvatiyar et al 2000).

A mature CRM model will ultimately support both:

Strategic business research and development efforts,

Tools and techniques that implement CRM principles.

As a result of the effectiveness and intensity of the concept of CRM, customers would benefit

from it through experiencing enhanced product delivery and organizations themselves would

gain from it through increase in customer database, increase in performance and profitability.
Contact for more

ShriKrishna

Computer Care & Cyber Zone

Chinhat Lucknow

Mo no- 9554444951

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