Synopsis of the 4thS Sem Project on

A Project Report On CRM STRATEGIES : A COMPARITIVE STUDY OF BIG BAZAAR, PANTALOON AND CENTER MALL AT GURGAON

SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF DEGREE OF

MASTERS IN BUSINESS ADMINISTERATION (MBA)

To AMITY UNIVERSITY HARYANA

Supervised By:Mr. P. Banerjee Lecturer Amity Business School

Submitted By:Saurabh Arora MBA 4th Sem Roll No. 36

PROFORMA FOR APPROVAL OF PROJECT PROPOSAL

Name of Student: Saurabh Arora Roll No: Institute Name: 36 Amity Business School, Amity University Haryana

Title of the Project:

CRM STRATEGIES : A COMPARITIVE STUDY OF

BIG BAZAAR, PANTALOON AND CENTER MALL AT GURGAON

Subject Area:

Marketing

Name Designation of the Supervisor:

Ms. P. Banerjee

Faculty, ABS, Manesar

Signature of the Supervisor

Signature of the Student

Signature of the Director Date:

SYNOPSIS: APPROVED

APPROVED

NOT

Comments/Suggestion for reformulating the project. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------Authorized Signatory

Table of Contents

Introduction of the Study Significance of the Study Review of Existing Literature Objectives of the Study Research Methodology Bibliography

INTRODUCTION OF THE STUDY

Today the Indian Retail industry is evolving at a fast pace. Retailing involves selling products and Services to consumers for their individual or family use. As the final link between consumers and manufacturers, retailers are a vital part of the business world. Retailers add value to products by making it easier for manufacturers to sell and consumers to buy.

In general, the longer the customer stays with a firm, the more he or she is worth. Long term customers buy more, take less of a firms time, are less price sensitive, and bring in new shoppers. Best of all there is no acquisition cost. Many retailers realize loyal customers are the backbone of a business. As a result Retailers have to stop thinking in terms of customers being loyal to the store and concentrate on the Retailer being loyal to the customer.

Retailing in India is gradually inching its way toward becoming the next boom industry. The whole concept of shopping has got altered in terms of formats and consumer buying behavior, ushering in a revolution in shopping in India. Modern Retail has entered India as seen in sprawling shopping centre, multi-stored malls and huge complexes offer shopping, food and entertainment, all less than in one roof. The Indian Retailing sector is at an inflexion point where the growth of organized retailing and the growth in the consumption by the Indian population are going to take a higher growth trajectory. The Indian Population is witnessing a significant change in its demographics.

CRM integrated approach is highly successful in retail area all over the world. CRM is a very useful tool to track the customer preferences, changing habits, buying patterns and savings etc.so as to capitalize on the new emerging situation and get maximum benefits out of it.

OBJECTIVES OF THE STUDY

To study CRM processes which are necessary to understand the customer in Big Bazaar, Pantaloon and Central To analyze various services provided to retain and attract the customers. To study the grievance handling procedure adopted in the future group. To suggest ways how to build relationship with customers through effective CRM tools.

Research Methodology
The study is relied on primary as well as secondary data. The primary data is collected through personal interviews using structured Questionnaire. The Secondary is collected from management of the Big Bazaar, Pantaloons, Center Mall, various books, journals and Internet. Sampling Methods: Probability sampling method or simple random sampling Universe: The research work was accomplished in Gurgaon, so Gurgaon is my Universe. Sample Size: Sample size will be 100 Research Instrument: For this study, for the collection of various data requirement, structured questionnaire is used. This questionnaire contains qualitative and quantitative information of the customers. The questionnaire contains of both open-ended and close ended questions, which would help to know the situation prevailing in the market. Statistical Tools Used For the purpose of data analysis, Percentage Method is used for calculation and result was interpreted. No. of Respondents Percentage = ---------------------------100 Total Respondents

SIGNIFICANCE OF THE STUDY

Success of every business depends upon how good a relationship it has with customers. This basic fact has catapulted the concept of customer relationship management to the forefront of many businesses' strategic planning. With increasing competition, companies are forced to deploy new strategies and think over the old ones. The dimension of business has changed over the years. In earlier times, customers did not have many choices and they had to choose whatever companies use to offer. But now-a-days, the number of products has increased and there is not much difference in the quality of same category products offered by companies. Customers being the king today, it becomes quite easier for them to look for other options in case they are not satisfied with the services offered. Opening up of the retail sector and the continuous development in this have lead to a number of global companies taking stakes. They are bringing with them capital, technology, and management skills and new marketing strategies. This has lead to an increase in the competitive spirit in the industry and focus has been shifted to enhance the efficiencies and offering the product to the customer in best manner. In view of the above, the present study entitled, Customer Relationship Management in Future group in Pantaloon and Big bazaar etc. evaluate losing profitable customers can dramatically affect a firms profits. The cost of attracting a new customer is estimated to five times the cost of keeping a current customer happy. The key to retaining customer is relationship marketing. The project is significant to the researcher because being a management student it gives the opportunity to utilize and put into practice the theoretical knowledge gained from studies to the practical perspective .And it is significant for researchers for further study. In this manner this study is significant in all manners.

REVIEW OF LITERATURE
Marketer have realized that, to achieve success, businesses need to have the appropriate measurement systems and marketing metrics in place to ensure that they are effective in terms of their use of customer-focused resources. Here are some of the views and researchers conducted on the proposed study: Chen Qimei, Chen Hong-Mei(2001).Exploring the success factors of CRM strategies in practice. Jochen Sengpiehl of BBDO Consulting(2001), companies can integrate one or more of the five strategies elements or modules as part of their CRM strategy: 1. Relationship marketing 2. Customer Relationship Centre 3. Dealer [Channel] Integration 4. Database Management 5. e-CRM Cunningham Colleen, Song Il-Yeol, Chen Peter P. (2006). Data Warehouse Design to Support Customer Relationship Management Analyses. Van Bentum Ralph, Stone Merlin (2005). Customer relationship management and the impact of corporate culture A European study is to find out if there is a dependency between CRM implementation and culture. A team of experts (1999) agrees it is more cost effective to retain customers than to acquire them. Joseph (2003) said retailers in CRM should first focus on the cost acquire, serve, and maintain customers. CRM recognizes that marketing starts after the sale is over, not when the sale is completed. In future marketing will need to create much stronger metrics so that strategies can be evaluated rigorously.

Bibliography

Books: Marketing Management (13th Edition) - By Philip Kotler, Keller, Koshy and Jha Principles of Marketing (11th Edition) Research Methodology The Art of Retailing -A.J. Lamba By Philip Kotler and Gary Armstrong

-- C.R. Kothari

Reference:www.rpggroup.com www.indiaretailing.com www.retailindustry.com www.pantaloon.retail.in www.bigbazaar.com www.ibef.org www.thebrandreporter.com