Identify and Analyze how the Company has Planned and Implemented its CRM Strategy: Diploma In Business Practice Report, NYP, Singapore

project outline

This project constitutes 45% of the overall assessment for the module, BM5431 Practices of CRM. The project covers topics on

• Introduction to CRM,
• Customer Loyalty Management,
• Customer-Supplier Relationship,
• Relationship-oriented Organization, Managing
• Relationship Lifecycle Customer Experience
• Management
•  Individualized Customer Proposition.

It is designed to give you a first-hand experience of applying the knowledge attained in the topics above to analyze a real-life CRM implementation issue. Each individual will identify a company in a chosen industry to work on. Based on the context, you will have to go through the business research process to identify and analyze how the company has planned and implemented its CRM strategy and to recommend how the company can improve its CRM implementation process. Learners will submit a typewritten report including any supporting appendices on your project work, analysis, and findings.

learning outcomes

After the completion of this project, learners will be able to:

1. Apply the business research process to interview and analyze the data collected
2. Design a list of interview questions that guide the interview process
3. Apply appropriate theories and concepts to identify and evaluate the CRM implementation process
4. Derive meaningful conclusions and recommendations that the company can implement to improve the implementation of CRM strategies.

Requirement:

1. Selectandconductaninterviewwithacompany(SME)of your choice from a chosen industry (eg. F & B, Retail, Hospitality, Banking, Services, etc).
2. Learners must submit the selected company for the tutor’s approval before proceeding with the interview.
3. There should be of the industry with another individual unless approved by your tutor. Please inform your tutor which industry/business you will be working on.
4. Learners have to analyze and comment on the company’s existing CRM strategy implementation. During the interview, learners should cover, but not limited to, the following areas:

i. findings and Analysis of the Company’s CRM implementation

a. Background of the company:

• • structure
  • culture
  • customer profile

b. Company’s existing CRM strategy

• DescribeandanalyzetheexistingCRMstrategythatthecompany is doing.
• Whataretheydoingtobuildandstrengthenrelationshipswiththe customers? For example, loyalty program? Rewards Programme? Membership Programme?Etc.

c.  Reason(s) for the implementation of CRM strategy

• What is/ are the reason(s) that cause the company to want to implement CRM strategy? For example Competition? Change in consumers’ needs?

d. How did the company plan and implement the CRM strategy?

For example:

• Did the company set up a task force?
• Engage consultants?
• Buy a new system?
• Ask for customer feedback?
• Did the company use any technology to help them in their implementation of CRM strategy? If yes, what did they use? If no, why?

e. What are the challenges and obstacles faced by the company when implementing the CRM strategy?

For example:

• Are the staff supportive of the strategy?
• Are the people trained to implement the strategy?
• Is there a lack of resources?
• Is the company having a wrong customer-centric culture?
• Does the company have a customer database?

f.  How did the company overcome the challenges mentioned above?

How has the CRM strategy affected the sales and marketing strategy?

With the CRM strategy, for example:

• Is the company now more capable of understanding customer’s needs?
• Is the company better at providing solutions to the customers?
• Is the company doing more direct marketing?
• Are the salespeople more equipped such as more confident in conducting dialogues with the customers?
• Is the company more capable of doing more targeted marketing activities to the different groups of customers?

h. Outcome of the CRM implementation

• Does the company think it has successfully implemented the CRM strategy?
• If yes, how does the company measure the effectiveness of the program? For eg. an Increase in share-of-wallet? Increase in new customers? Etc.
• If no, why?

i.  Company’s Future Plan for CRM strategy

For example:

• Invest in a new CRM system
• Setting a CRM department
• Enhance the Relationship Marketingeffort
• Set up a more comprehensive database