Research Methodology: Customer Relationship Management

Research Methodology

This chapter describes the methodology adopted in conducting the research, discussing the methodology under the title of conceptual model, research methodology, research design, research model and data sources and collection.

Data presentation, Analysis and Interpretation

In this chapter the finding of the research are presented. In the analysis part researcher interprets the relationship of the variables towards the study’

Conclusion

In this chapter researcher present the key finding of the study and conclusion. And also present the recommendation. Furthermore defines limitation of this study.

Literature review

Introduction

The literature review describes the context for the research also with the details

It is a methodology used to learn about customer needs and behaviors in order to improve stronger relationships with them. The more suitable way to consider about CRM is as a process that will help bring together lots of sections of customer information, sales, marketing efficiency, responsiveness and market trends. CRM benefits businesses to use technology and human resources to gain awareness into the behavior of customers and the value of them. By definition, it is a management philosophy that allows a company’s goal to be achieved through identifying and satisfying customer’s stated or unstated needs and wants (Alavi, 2013). It is thus, identified that customer relationship management has the potential in increasing future expected revenues for the company as well as to those prospective customers (Wang et. al., 2004). In support to the above view, Grant and Schkesinger (1995) also stated that the basis of CRM is to ensure steady flows of revenue generation and expansion of customer period value or behavior. On the other hand, Couldwell (1998) described CRM tries to understands the customers likes and dislikes as a combination of business process and technology. Kotler and Keller (2014) however disagreed with the above approach and define customer relationship management as the process of carefully managing detailed information of customers in order to maximize

A strategy is very vital for an organization since the resources which are available to achieve the organizational goals are scarce, hence a proper strategy would support to achieve such goals with the usage of the limited resources. Vladimir (2009) shared a similar view by defining strategy as a system of finding, formulating and developing a set of guidelines that guarantee long term success, if followed faithfully. While on the other hand Mckeown (2011), argues that “strategy is about shaping the future” and is also the effort of mankind to receive “desirable ends with available means”.

CRM strategies are therefore adopted by organizations to retain customers on a long term basis (Payne and Frow, 2005) and provide them superior value, based on their expectations instead of what the company wishes to sell. The main goal behind implementation of customer relationship management strategies to any business organization is therefore to retain existing customers and acquire new loyal customers, which in turn would create a sustainable lifetime value for both the customers and the organization itself (Reinartz, Krafft and Hoyer,