ASSIGNMENT -1

DRAFT A CRM STRATEGY FOR YOUR PRODUCT(S)

Subject: Customer relationship management

Submitted to:
Prof. Dr. Md. Altaf Khan

Submitted by:
Ravi Raushan Jha
M.com (business management)
Final year (4th semester)
Roll no: 18MCM025

Date of submission: April 06, 2020

DEPARTMENT OF COMMERCE & BUSINESS STUDIES

JAMIA MILLIA ISLAMIA
NEW DELHI –110025.
 CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

Customer Relationship Management is defined as “a philosophy and business strategy supported

by a system and technology design to improve human interaction in the business environment in
order to enhance the revenue, profitability, customer satisfaction and retention.”

It is the art of managing good customer relationships and prospective customers by identifying
customer expectations and the way to meet their expectations or go beyond their expectations. It
is all about the understanding that who your existing customers and potential customers are, and
nurturing the relationships you have with them.

It also analyzes the different aspects of customer relationships, including customer services,
sales, and marketing, to improve their customer focus. It involves the activities and strategies
that the company uses to manage the interaction with current and potential customers.

CRM process involves following steps-Screening the suspects, Identify the prospects,
Maintaining records of qualified and disqualified Customers, Identify the Customers as the- First
time customer, Repeat customers, Clients and Members.

Essential Features and components of CRM 

The main Features of CRM are- Contact Management, Lead Management, Pipeline
Management, Sales Automation, Sales Forecasting, File Storage and Sharing, Email
Management, Reporting and Analytics for building and managing customer relationships
through marketing, observing relationships as they mature through distinct phases, managing
these relationships at each stage.

The most basic level of CRM system consolidates customer information and documents into a
single CRM database so business users can more easily access and manage it. Over the period,
many additional functions have been added to CRM systems to make them more useful.

Some of these functions include recording various customer interactions over email, phone,
social media or other channels; depending on system capabilities, automating various workflow
automation processes, such as tasks, calendars and alerts; and giving managers the ability to
track performance and productivity based on information logged within the system. Some of the
important components of a CRM system are as follows:

 Marketing automation: It can automate repetitive tasks to enhance marketing efforts at

different points in the lifecycle.

 Sales force automation: It can tracks customer interactions and automates certain
business functions of the sales cycle that are necessary to follow leads and attract and obtain
new customers.

 Contact center automation: It can reduce the tedious aspects of a contact center agent's
job. It might include prerecorded audio that assists in customer problem-solving and
information dissemination.

 Geo-location technology or location-based services: Some CRM systems include

technology that can create geographic marketing campaigns based on customers' physical
locations, sometimes integrating with popular location-based GPS apps. 

 Workflow automation: It can help businesses optimize processes by streamlining

routine workloads, enabling employees to focus on creative and more high-level tasks.

 Lead management: Sales leads can be tracked through CRM, enabling sales teams to
input, track and analyze data for leads in one place.

 Human resource management (HRM): CRM systems help track employee’s

information, such as personal contact information, performance reviews and benefits and
enable the human resource department to more effectively manage the internal workforce.

 Analytics: Analytics in CRM help create better customer satisfaction rates by analyzing

user data and helping create targeted marketing campaigns.

 AI: Artificial intelligence has been introduced into CRM platforms to automate repetitive

tasks, identify customer buying patterns to predict future customer behaviors and more.
 PRODUCTS

We have total four product lines i.e. Poultry, Fishery, Dairy and Coconut farming.

In 1st Product line (Poultry), we will have 2 types of chicken’s breed i.e. Meat breed and Egg
laying breed.

A. Meat Breed:- 1) Cornish Cross 2) Breese 3) Jersey Giants

B. Egg Laying Breed:- 1) Delaware 2) Buckeye 3) Plymouth Rock 4) Brown Leghorn

We will supply the egg to the retailers as well as to the small venders and raw chicken for meat
to the Chicken shops and to the Hostels, Canteens, Hotels, and Restaurants. We will also have a
restaurant-chain for fried chicken named as “SUNRISE FRIED CHICKEN” in short “SFC”.
We’ll have following items:

(1) Hot & Crispy (2) Smoky Grilled (3) Chicken Nuggets (4) Hot wings

In addition to these we will add some desserts and beverages in the menu. We will also maintain
the different variety like spicy, less spicy, without spice etc. so that market segmentation can be
done easily (for babies, young and old age). We will optimize our product offering as per the
geographical locations and customer’s demand.

2nd Product line (Fishery)

(1) Rohu Fish (2) Mangur Fish (3) Katla Fish

We will provide fresh raw fish in the local market as well as to the Hostels, Hotels, Restaurants,
event management firms etc. we will provide good quality of fish and of different breeds.

3rd Product line (Dairy)

We will provide plain milk as full cream, toned, double toned and cow milk for better market
segmentation. We will also provide different kind of flavored milk in small tetra packs with
straw to attract kids who doesn’t like to drink milk. We will also provide larger tetra pack of
different quantity. We will also provide cheese. We will provide different type of flavored milk
to attract more customers according to their taste and preferences so that we can easily capture
large market share.

4th Product line (coconut)

We’ll provide green coconut as well as coconut water. We will provide dry coconut as it has
multiple uses in Indian culture like used as dry fruits, used in rituals etc. We will also provide the
desiccated coconut powder mainly for making sweets and other uses.

Need of CRM for our Products

Requirement of CRM is not specific to one industry but it is required everywhere because any
business exists because of its customers. CRM system will enable the business organizations to
understand the complicated, multifaceted nature of its customers. CRM systems can also
give customer-facing staff detailed information on customers' personal information, purchase
history, buying preferences and concerns. The better the relationship, the easier it is to conduct a
business and generate revenue. Therefore using technology to improve CRM makes good
business sense.

Consequently, we can develop strategies based on the data of the CRM system to attract the
customers and retain them as well; by satisfying them and it will make both the organization and
the customers fell satisfied to their optimum level of satisfaction in our mutual business
interaction. While building and managing customer relationships through marketing, firms might
benefit from using a variety of tools to help organizational design, incentive schemes, customer
structures, and more to optimize the reach of its marketing campaigns. Through the
acknowledgement of the distinct phases of CRM, businesses will be able to benefit from seeing
the interaction of multiple relationships as connected transactions.

CRM strategy for our products

Adoption of CRM deployment methods depends on a company's business needs, resources and
goals, as each has different costs associated with it. There are various types of CRM tools and
 technology that can be implemented for these products. The four main vendors of CRM systems
(Software) are Sales-force, Microsoft, SAP and Oracle. Other providers are popular among small
to midmarket businesses, but these four tend to be the choice for large corporations. The types of
CRM technology offered are as follows:

1. Based on the type of installation

ON-PREMISES CRM CLOUD-BASED

OPEN-SOURCE

i. On-premises CRM: This system puts the onus of administration, control, security and

maintenance of the database and information on the company using the CRM software. With
this approach, the company purchases licenses upfront instead of buying yearly subscriptions
from a cloud CRM provider. The software resides on the company's own servers and the user
assumes the cost of any upgrades. It also usually requires a lengthy installation process to
fully integrate a company's data. Companies with complex CRM needs might benefit from
an on-premises deployment.

ii. Cloud-based CRM: With cloud-based CRM, also known as SaaS (software as a service)

or on-demand CRM, data is stored on an external, remote network that employees can access
anytime; anywhere there is an internet connection, sometimes with a third-party service
provider overseeing installation and maintenance.

iii. Open source CRM: An open source CRM system make source code available to the

public, enabling companies to make alterations at no cost to the company employing the
 system. Open source CRM systems also enable the addition and customization of data links
on social media channels, assisting companies looking to improve social CRM practices.

2. Based on the functionality

OPERATIONAL CRM ANALYTICAL

COLLABORATIVE
i. Operational CRM: This type of CRM helps business organizations to run their routine
sales and customer service operations. An operational CRM system enables the
businesses to track the customer’s journey through activities such as contact
management, lead generation, lead scoring and market automation.
ii. Analytical CRM: It collects and analyses heaps of customer data and help businesses to
take more effective decisions derived from those data. This type of CRM offers data
management, customer acquisition and retention activities through data mining and sales
forecasting etc.
iii. Collaborative CRM: It enables the organisation to share to share customer data across
internal departments and external shareholders to enhance customer experience. This
stage brings all people process and data gathered above together to serve and retain the
customers.
 IMPLEMENTATION OF CRM TOOLS AND TECHNIQUES IN SUNRISE

 In our firm SUNRISE, in order to implement Operational CRM we will use sales
force automation which will keep tracking of customers buying pattern, purchasing
habits, customer’s taste and preferences, competitor’s moves in the industry. At the
same time we will have customer support center which will handle the complaints,
queries, ratings, and feedback etc.
 Implementation of Analytical CRM will ensure that the data taken from operational
level is integrated and compiled and then analyze for segmentation processes. There
will be targeted campaign directed towards capturing the larger market share.
 We will also implement Social CRM, which will ensure the involvement of
businesses engaging customers directly through social media platforms, such
as Facebook, Instagram, WhatsApp, Telegram, Twitter and LinkedIn etc. Social
media presents an open forum for customers to share experiences with a brand or a
product, whether they will be airing grievances or promoting products.
 We will use various social CRM tools that will monitor social media
conversations to determine our target audience and which platforms they use.
Other tools will be designed to analyze social media feedback and address
customer queries and issues.
 Our firm is interested in capturing customer sentiments, such as the likelihood
they will recommend products and their overall customer satisfaction, to develop
marketing and service strategies. We will try to integrate social CRM data with
other customer data obtained from sales or marketing departments to get a single
view of the customer.
 Implementation of this adds value for our firm and for customers as well through
customer communities, where they will post reviews of products and can engage
with other customers to troubleshoot issues or research products in real time.
They can provide low-level customer service for certain kinds of problems and
reduce the number of contact center calls. They can also provide new product
ideas or feedback that we can use in lieu of feedback groups.
 We will implement Mobile CRM, in which we will build applications for
smartphones, and tablets which have become a must-have for sales representatives
 and marketing professionals who want to access customer information and perform
tasks when they are not physically in their offices. Mobile CRM apps take advantage
of features that are unique to mobile devices, such as GPS and voice
recognition capabilities, to give sales and marketing employees access to customer
information from anywhere.

With the implementation of these CRM tools we will have Focus on each and every
customer’s data information, collected from various sources at different levels. This will
ensure the good relationship with the customers by the following ways-

 Provide them Gift Vouchers, Membership cards and Occasional offers to maintain
frequently connection with them
 Wish them by sending Birthday Cards, Anniversary Cards and Festivals greeting
cards to create brand loyalty.
 Organize loyalty programs and promotional events to retain existing customers, bring
back less satisfied customers and attract potential customers.

Ways to overcome the challenges of CRM

1. One of the toughest challenges is to convince and ensure the adoption of the strategy by
everyone in the organisation. CRM is not just about technology; it is about people and
processes – supported by the right technological solutions. That is why a CRM strategy
must be simple not complicated and importance of this should be communicated to
everyone in the organization as we know that effective communication is the key in these
circumstances where change is forthcoming. The workforce should be engaged in
dialogue where they are explained what a CRM is and change in procedure needed to
reach the long-term objectives. They should be given opportunity to get heard about their
misconception.
2. Another challenge is inadequate knowledge of the employees. Before implementing the
strategy it is necessary that employees are provided with all the required training and
development programs.
3. Another on is data handling and security. The data we have about our consumers and the
past-performance of marketing and sales efforts is a crucial component for all future
operations and this data is arguably the most valuable asset. Therefore we need to be sure
we have a system we can trust. We should choose the right CRM service that will make
data importing easy and intuitive, allowing our company to make a smooth transition to
the cloud with just a few clicks. It should so integral to business and all our teams can tap
into its raw potential. With a top CRM platform, everyone will find it easier to store,
organize, and track data, so that they can get actionable insights and put them to good use
in their sales or marketing efforts, or to offer a better level of customer service. Also all
our teams will be able to use data to excel at cross-channel marketing, which enables you
to offer a better customer experience.
4. Innovation with integration: Several times it is found that people in various organizations
have misconception about the implementation of CRM. They think that they have to start
from the scratch because of adoption of new technology. But we need to communicate
with them that CRM implementation doesn’t mean that you to give up all your existing
activities and processes. Instead it facilitates us a way of bringing them all together.
5. Dealing with the time and cost: It is very true to some extent that initially this will be a
costly affairs and a time consuming process because initially returns from the
implementation of such CRM strategy are not high and employees are not fully efficient
on this. But a business has to consider its long term impacts, customer coverage and
returns they would be expecting from the amount invested in CRM. In long term strategy
it will give good return on investment and it would seem as both time effective and cost
effective strategy.