SlideShare a Scribd company logo
1 of 36
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
A Critical Research on the Effectiveness of Customer Relationship
Management on Customer retention and customer acquisition: A Case
Study of Tesco Plc.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
ABSTRACT
The increased necessity of the Customer Relationship management is well detailed in
the present research. The research is also a capsule of the beneficial effects of CRM as
well as the impact of CRM on the processes of customer retention as well as the
customer acquisition. The researcher has taken the case study of a well established firm,
Tesco plc, for the analysis as well as assessment of the above mentioned aspects of
relationship marketing. The researcher has also given a sufficient quantity of the
literatures which are well related to the present topic. The present dissertation contains
well defined seven chapters, which are well arranged. The concepts of the customer
satisfaction as well as the customer loyalty are also clearly pictured by the researcher.
The present study also reveals the relation of the customer satisfaction as well as the
customer retention. The aims and objectives of the research is well attained with the
assistance of the perfect analysis of data, that are collected from the managers and
customers of the firm, Tesco plc. The researcher also gives certain recommendations
which would be of use for the betterment of the conditions of the concerned firm, as
well as in the other related firms.
Key words: Customer Relationship management, customer retention, customer
acquisition, Tesco plc.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
1. INTRODUCTION
1.1 Introduction
The present chapter is the opening chapter which contains a general outline of the
different concepts which are going to be discussed in the subsequent chapters. The
researcher gives a brief introduction on the aspects of Customer Relationship
Management (CRM), the importance of the CRM, Customer Retention and Customer
Acquisition as well.
The business world of today is experiencing a tough competition, which is getting
enhanced day by day, according to Beebe et al (2011). As per the opinions of Annette
(2009), the success of any business firm mainly depends upon the customers, which
makes it very much necessity for the concerned firm to take measures so as to
accomplish the retention of the existing customers as well as to acquire new customers
(customer acquisition). The maintenance of the valuable commodity of any firm is
purely dependent on as well as well accomplished through the provision of importance
and attention on the customer retention and customer acquisition as well, states Duru
(2011). The aspects of customer retention as well as the customer acquisition are
possible only through the maintenance of the proper relation with the customers and
this is dealt in the specialized field of CRM or customer relationship management, says
Francis (2012).
1.2 Purpose of the research
The main purpose of the study is to make a critical evaluation of customer relationship
management as well as to analyse the impact of the customer relationship management
on the customer retention and customer acquisition as well. The research also aims to
carry out an assessment of the literature works cited by different researchers in the
related topic. The researcher has carried out the assessment of CRM and its impacts on
the customer retention and customer acquisition by taking the case study of a well
reputed firm of the industry, Tesco plc.
1.3 Research Background
Today’s business management has pushed marketing from acquisition to retention to
customer selection. Moreover Relationship marketing has become a vital part in
retention of a small number of profitable customers, says Francis (2012). Today
businesses are improving their profitability with the interaction of their existing and
potential buyers by the help and support of affective customer relationship
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
management. The relationship marketing is relationship between company and
customers and customers are attracted towards a company; relationships between
customer to company are build and maintained. Relationship marketing does not stress
jut to attract customer but also keeping them attach with the business. Marketing is
directly related to trade relations of the company and its consumers. Customers, service
and quality are three main links in organizations to maintain relations. The main task for
the company is how to combine all of these links closely, explains Duru (2011). The
customer retention and customer acquisition are the two major aspects which have to
be given a fine concentration by any business firm for its growth and for the successful
establishment as well.
1.4 Rationale of the research
For the success and growth of any business firm, the two fundamental aspects which
should be handled with care, are the retention of the customers as well as acquisition of
the new customers. The present research study gives a critical assessment of the
Customer Relationship Management as well as the importance of CRM on the
enhancement of the rate of customer retention and customer acquisition as well. The
research is mainly focused on the above mentioned aspects of CRM, customer retention
and customer acquisition by considering the current scenario of the well reputed firm,
Tesco plc. The CRM as well as its impact on the customer retention and customer
acquisition are definitely some of the very important topic, whichever industry may be
considered, as suggested by Annette (2009). This forms the academic rationale for the
present research. The present research would find out the ways of CRM and the effects
of CRM on the retention of the customers and the acquisition of new customers. The
main merit of the present research is that the outcome of the present research could be
the made use in the betterment of the situations prevailing in the other organizations
also.
1.5 Background of Tesco
The company selected for the present study is a well reputed firm, which is, Tesco plc.
This is a multinational grocery firm and the head quarters of this particular firm is
located in the United Kingdom. This firm is considered to be the world’s third largest
retailer (with respect to the revenues) and also considered to be the world’s second
largest retailer (with respect to the profits). The founder of the Tesco Plc is considered
to be Jack Cohen and this happened in 1919. According to the results of the survey
which was published in April 2012, the Tesco plc is experiencing a tremendous growth
and the total numbers of stores possessed by the firm are around 6,351. Tesco plc
stands first in the production of many products which include consumer products,
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
telecoms, clothings, groceries, financial services etc. A number of employees are been
placed in the firm and this includes around 520035 employees (www.tescoplc.com)
1.6 Aims of the Research
To investigate the impact of CRM on customer retention and customer acquisition by
taking a case study of Tesco plc.
1.7 Objectives of the research
The objectives of the present research are the following:
• To analyze the measures adopted by Tesco in the enhancement of CRM in the
firm
• To evaluate the competitive advantage using CRM
• To assess the impact of customer retention on customer acquisition in Tesco.
1.8 Brief outline of the research
The present research study is divided into seven chapters. The first chapter,
‘Introduction’ contains the brief overview of the whole dissertation.
The second chapter ‘Review of literature’ contains the literature works cited by many
researchers, which are connected with the topic of the present research.
The methods which are used for the successful completion of the present research, are
described in the third chapter, ‘Research Methodology’.
The forth chapter’ ‘Context and profile’ contains the brief summary of the background
of the research as well as the company background.
The fifth chapter, ‘Primary findings’, contains the representation of the data collected
from the required sources.
The sixth chapter, which is the discussions of these findings, is the ‘Discussion’ chapter.
The final chapter, ‘Conclusions and Recommendations’ involve the conclusions made
after the data analysis and the recommendations made out of it.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
2. REVIEW OF LITERATURE
2.1 Introduction
The present chapter mainly explains the literature works which are cited by the other
prominent researchers of the related works. The researcher gives a clear description of
relevant literatures which are connected to the customer relationship management
(CRM), customer retention as well as customer acquisition.
2.2 Overview of Customer Relationship Management (CRM)
Nowadays, most of the business firms are giving much significance for the CRM
(Customer Relationship Management), and the other aspects linked to CRM, which
includes the customer retention, customer acquisition etc. As per the findings of Frank
(2011), the long run value of the existing as well as the potential customers, are well
understood through the Customer Relationship Management. Raab (2010) also supports
by stating that most of the today’s companies have taken the CRM as a topmost priority.
They also state that the substantial investment of economy on the CRM, is also done
excellently by the management of these firms.
2.2.1 Perspectives of CRM
As per the definitions given by Jha (2009), the processes involved in the collection as
well as the analysis of the data acquired by a firm on the interactions made with the
customers in order to augment the values of the customers to the firm, are collectively
termed as the CRM or customer relationship management. The eminent researchers,
Maik and Christian (2010) state that the management strategy which involves the
collaboration of information technology along with the marketing, is termed to be the
CRM. According to Francis (2012), the concept of the Customer Relationship
Management originated for the first time in the United States in the late 1990s. This
aspect is widely accepted by many companies nowadays.
According to the statement given by Huber and Susanne (2010), since the customers are
the most important aspects of the growth and development of any firm, the relationship
with the customers should be maintained in a proper as well as perfect manner. The
supportive statement given by Mauricio and Vincent (2011) includes the fact that the
organizational, technological as well as strategic aspects are being highly influenced by
the concept of Customer Relationship management. In addition to the influence of CRM
on these above mentioned aspects, it also influences the net performance of any
concerned firm and these performances include the growth of the company, market
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
share, as well as the profitability. As per the statement put forward by Beebe et al
(2011), the implementation of CRM requires the perfect collaboration of people,
operations, and marketing capabilities through the information technology as well as its
applications. But the eminent researcher Prakash (2011) argues that the successful
implementation of the Customer Relationship Management definitely requires the
changes in the organizational structures along with the provision of motivation to the
employees to make the proper use of the CRM.
2.2.2 Origins in relationship marketing
The findings of Puneet (2011) clearly describe the basis of the origin of the CRM and
according to the researchers, the relationship marking could be considered as the
important fundamentals of the CRM. The activities which are responsible for the
maintenance and enhancement of the relationships with the customers, are collectively
termed to be the CRM, says another researcher Frank (2011). The prominent researcher
Annette (2009) also argues for the significance of the CRM in the today’s business. He
has also given a new refined definition for the CRM and describes the CRM to be the
maintenance and enhancement of the relationships with the customers in such a way
that the objectives are clearly met, which is very well achieved through a mutual
exchange as well as fulfillment of the promises.
2.2.3 Workflow of CRM
The workflow of CRM has been explained by many researchers in their works. According
to Rene (2010), the workflow of CRM mainly includes the basic procedures which are
carried out in the customer relationship management. He also states that the collection
of customer data would be the very first step of the CRM, which is succeeded by the
analysis of data to predict the customer behavior. The next step involves the marketing
campaigns which are based on the analysis of data. The subsequent step involves the
measurement of results, revision of hypotheses as well as the repetition of process of
workflow.
2.2.4 Goals of CRM
A number of researchers, who have been working with the CRM, have mentioned the
goals of CRM. One such prominent researcher, Duru (2011), clarifies through his work
that, main goal of the implementation of CRM is the reduction in the cost of recruitment
of the customers. However, higher customer profitability as well as reduced cost of
sales, are considered to be the main goals of CRM, say Roger et al (2011). On the other
hand, other researchers Sharma and Goyal (2012) makes it clear that the main goals of
CRM are the improved customer retention as well as customer acquisition.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
The two major activities involved in the marketing operations would be retention as
well as acquisition of the customers, says Timothy (2011). As per the supportive
statement provided by Ryals (2011), the customer acquisition is more linked to the mass
and target marketing, on the other hand the customer retention is linked to the
relationship marketing. According to the opinions of one of the well known researcher,
Mukerjee (2010) the customer acquisition is a much more complicated process when
compared to the customer retention as the attainment of the business from a new
customer requires five to six times more effort than the attainment of the business from
the existing customers.
2.3 Customer Acquisition through CRM
As evidenced from the works of the eminent researcher Beebe et al (2011), the
implementation of the customer relationship management is very much important for
the accomplishment of the customer acquisition. Duru (2011) also supports the above
statement by stating that the acquisition of the new customers, is only possible through
the proper as well as perfect implementation of the relations which are supposed to be
made with the customers, as these are the assets of any business firm. As per the
opinions of Julian (2011), the process in which new customers get attracted towards any
firm, could be considered as the customer acquisition. According to the words of
Michael (2011), the obtaining of more numbers as well as profitable customers would
be the most important goals of the customer acquisition. This is well exemplified by
giving the example of the targeting of the customers for insurance, if they are new
home buyers. This is considered to be the first step in the construction of the customer
base, says Bragg (2010). However Frank (2011) argues that most of the companies are
still unaware of the appropriate criteria for the screening of the profitable new
customers and their selection criteria would also select the non profitable new
customers also, which degrade the growth of the concerned company, in fact. This
would also make the acquisition of the customers, a very risky as well as costly process
because of the failure of the customers to represent the value proposition of the
concerned firm.
As per the opinions put forward by Duru (2011) on the acquisition of the customers, if
the expected value of the attaining customers is more than the total costs, the customer
acquisition could be considered as a profitable process. But, there is also another
statement put forward by the same researcher that the forecasts of these likely
responses are purely based on the past responses. He also states that the significant
advancements in this area, are very much possible through the deeper and detailed
analysis of the probabilistic thresholds. In this context, the concept of ‘fit’ is very much
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
important. According to the conclusions made by the researchers Roger et al (2010), the
fit simply refers to the nature of the relationship maintained with the customers. They
also very well explain the necessity of the accomplishment of the appropriate
relationship as the customers may have different perceptions and different satisfaction
thresholds. This difference also influences their probabilities of repurchases. Francis
(2012) also very well supports the above mentioned fact by stating that the customer
acquisition highly increases the diversity in the customer portfolio, thus markedly
enhancing the risks in the processes of business in the concerned firm.
Frank (2011) clarifies that because of the much significance of the customer acquisition,
the concept also needs a lot of attention and focus. This is because the lack of focus on
the customer acquisition would lead to the adverse situations where the customers who
are less profitable are also likely to be selected through the processes of screening. As
per the statements of Annette (2009) this is more applicable to the credit companies, as
these are in need to verify the suitability of every respondent. The solution for the
current issues, as suggested by Julian (2011) includes the selection of the customers
using the data that is already stored in the database which enables the screening of the
respondents who are more likely to respond and profitable as well.
As per the opinions of Bragg (2010), a number of array of channels (and these channels
include television, radio, internets etc) have been identified and discussed by many
researchers for which the customer acquisition occurs, and the researchers have started
to concentrate and focus more on the assessment of the efficacies of the acquisition
strategies of these channels and their potential impacts on the subsequent behaviors.
Blanchard et al (2011) also gives a prominent example of the less loyalty exhibited by
the customers which are acquired through these channels with an emphasis on the
price. Many researchers have introduced different types of classic behavioral models of
consumer adoption which would be beneficial in the comprehension of the impacts of
multi-channel strategies of acquisition, since the features of the channels may vary with
each other, says Frank (2011). They also opine that if the better information search is
provided by one channel, better service would be provided by some other channel. The
statement given by Mukerjee (2010) includes the fact of the necessity and vitality of the
interaction between these channels if a multi-channel environment is considered for the
study.
2.4 Customer Retention through CRM
This is another aspect which could be accomplished through the maintenance of the
relationship with the customers of any firm, says Raab (2010). As per the findings put
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
forward by the researcher Francis (2012), through his works, the retention of the
customers also demands a well planned and accomplishment of the customer
relationship management. When compared to the customer acquisition, the process of
customer retention is a much simple process which does not require much efforts as
well as complications. As per the findings of Jha (2009) made through their studies, the
customer retention is very much cheaper as well as easier than the phenomenon of
customer acquisition, even though the optimal mix of the marketing strategies may
differ from one business model to another business model. The supportive opinion
given by Bragg (2010) states that, the retention of customers becomes an easier
process, in the stable markets having less growth rate. According to Maik and Christian
(2010) well planning is sufficient to accomplish the customer retention. The statement
put forward by Frank (2011) includes the instability of the business firms due to the lack
of the effective customer relationship management.
As per the opinions of Huber and Susanne (2010), the customer retention is of much
significance as the profitability of a firm is greatly influenced by the retention of the
customers. The researchers Mauricio and Vincent (2011) also supports the above
mentioned statement by stating that the firm value of any firm could be increased by
5% through the 1% increment in the customer retention of the specified firm. The issues
of the customer retention occurs when the customers develop a tendency to cease or
quit the relation (referred to as churn) with the business firm they possess now, says
Prakash (2011), which would definitely results in the decreased business of the
concerned firm. This has urged the marketers to provide more focus on the
phenomenon of customer retention, says Bragg (2010). This is in accordance with the
statements given by Puneet (2011) who state that the customer retention is a key
element which plays a significant role in the growth and successful development of the
business firms. However, according to the researchers Roger et al (2010), the
assessment of the elements leading to the churns of the customers as well as the
evaluation of the customers who are on the verge of the defection, would be the two
fundamental processes involved in the customer retention. Annette (2009) also
supports and states that the understanding of these drivers of defection would enable
the firms to design and implement the appropriate strategies which would be fruitful in
the reduction of the customer defection as well as in the enhancement of the customer
loyalty, through which the customer retention is highly possible.
2.4.1 Improvements in the implementation of customer retention
The recent studies have suggested the influence of the channels on the rate of the
retention of the customers, says Julian (2011). A prominent example is given by Beebe
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
et al (2011) through their study, where they point out the driving of the e-mails to
purchase through online and according to the results of these study, the assumption
that the prices and costs are less mainly directs the customers to purchase through the
internets, through which there is no chance of development of customer loyalty, hence
no point of customer retention. However, the results of the study carried out by Frank
(2011) reveals the fact that the costs of the online purchases, are more than the actual
prices, because of the shipping costs and other associated costs, says Duru (2011).
Much focus also has been given by a number of researchers on the mechanisms
adopted by the firms for the reduction of the churns caused due to the customer
defection, clarifies Francis (2012). As per the explanations given by Rene (2010), almost
every firm takes care of the reduction of the churns through three ways, which are, the
improvement of service quality, targeting of the interventions of so as to prevent the
churns, and the increment of the customer loyalty programs. As per the opinions of
Sharma and Goyal (2012), the assumption of the firm that the customer satisfaction
would results in the customer retention urges the firm to invest on the improvement of
the quality as well as the standard of the customer service. The findings of Simon et al
(2012) are in accordance with the positive impact of the customer service on the
retention of the customers. However, according to the statement given by Timothy
(2011), certain customers have also given an argument for the above statement and
according to these researchers, the characteristics of the customers are the most
determining elements of the customer retention, than the improvement in the quality
of the customer service.
2.5 Conclusion
The present chapter is a pool of the literature works which are already performed and
concluded by the other researchers. With the aid of these literatures, the researcher has
tried to present an overview of the customer relationship management and its
importance, customer acquisition and customer retention as well.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
3. RESEARCH METHODOLOGY
3.1 Introduction
The methodologies of the research play a significant role in the completion of any
research, according to Jan and Collin (2010). The different types of methodologies which
are used for the performance of the present research work are discussed in detail by the
researcher through the present chapter.
3.2 Research Philosophy
The processes involved in the acquisition of data which is required for the study, is
mainly dealt in the research philosophy, says Ranjit (2010). The apt selection of the
research methodology for any research work mainly depends upon the research
philosophy. The research philosophy is broadly classified into three major classes, which
are positivism, interpretivism as well as realism. As per the findings of Bryman (2010),
the nature of the research mainly determines the class of the research philosophy.
Positivism:
The quantitative methods which are very much vital for the collection of the data to
meet the objectives of the research, are mainly explained through the research
philosophy of positivism, says Gibbons (2008). As per the statement given by Sean
(2006), the positivism deals with the logical facts as well as scientific thinking. This is
more close to the reality. The scientific thinking is the fundamentals for the assessment
of the compiled data.
Realism:
This is another approach of research philosophy, through which the assessment of the
collected data is possible, says Dawson (2009). The long lasting information is mainly
acquired through the implementation of the realism. This facilitates the acquisition of
the perceptions of the individuals. The personal concepts of every individual, are given
significance through this research philosophy, say Gravetter and Forzano (2011).
Interpretivism:
According to Girogio et al (2010), the behavioral aspects of the people who are related
to the study, are dealt through the interpretivism. This research philosophy clearly
allows the maximum communication with maximum number of people.
Justification
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
Since the realism very well assures the provision of long lasting information on the topic,
this research philosophy is made use by the researcher in the present research work.
The concept of realism clearly explains the facts which have a methodological basis. This
is mainly preferred over the other two research philosophies because it explains the
analytical basis rather than giving mere views and concepts.
3.3 Research Design
Research design is referred as providing answers to the questions such as how, when,
what the research going to be conducted and analysed (Anderson, 2010). There are two
classification of research design, as identified by Saunders et.al (2009) they are
qualitative and quantitative methods.
In order to collect primary data the researcher has selected qualitative as well as
quantitative research design from the employees of Tesco by using questionnaires and
interview method. Therefore, collected data will be in numerical and textual format.
According to Saunders et.al (2009) quantitative research methods data are utilized in
arithmetical format and in order to reach conclusion quantitative pattern is followed.
The data collected from questionnaire survey will be in numerical structure and this will
be converted to word structure
3.4 Research Approach
The objectives of any study are also understood through the techniques of the research
approach, says Jan and Collin (2010). This approach allows the clearer as well as better
understanding of the objectives and purpose of the research. The two types of research
approach are explained below:
Inductive approach:
According to the statement given by Gibbons (2008), the development of the theories
from the existing findings as well as hypotheses is mainly explained through the
inductive approach. This research approach would help in the acquirement of more
reliability to the acquired data. This inductive approach makes use of the qualitative
data.
Deductive approach:
The deductive approach includes the explanation of the developed theories, says Peter
(2009). In cases of scientific research, this would be the most suitable research
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
approach. According to Bonnie and Donna (2011), quantitative data is made used in this
kind of research approach.
Justification
The deductive approach is applied for the present study by the researcher as more
reliability is assured by this type of research approach. This is the approach which would
result in the attainment of valuable data as well as more suitable findings. The theories
which are developed by the other researchers are explained in the present study,
thereby meeting the objectives of the study. This focus on the findings of the other
researchers, would assure the attainment of more reliable as well as valid data.
3.5 Research Strategy
The research strategy deals with the methods which are crucial for the answering of the
research problems which are already raised in the first portion of the dissertation. The
views which are responsible for the raising of these research questions, are explained
through the research strategy, say Chris et al (2009). The different types of research
strategy have been developed by the eminent researchers and the two most important
research strategies are discussed below:
Survey strategy:
The survey strategy of any research is mainly associated with the deductive approach.
A definite set of individuals are kept as the prime strategy, which forms as a source of
the required data. The data collected through the survey strategy could be expanded
to only limited areas, which forms the demerit of the survey strategy.
Case study strategy:
The maximum evidences related to the topic of the study are made use to analyze the
current happenings, in the research strategy of case study. The assessment of a
particular aspect is done through the comparison with the realities and this is in turn
influenced by a number of determining factors.
Justification
Both the survey analysis as well as the case study analysis, are done by the researcher in
the present research. The present study involves the collection of data from the
employees of the Tesco as well as from the customers approaching Tesco. The data was
collected from the managers of the firm through the case study method, while the
customers were subjected to the analysis of survey for the collection of the relevant
data.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
3.6 Data Collection Method
The method by which the data required for the study, is generally referred to as the
data collection method. The two types of data are the primary data as well as the
secondary data. The data collection is also one of the prominent steps in the research
methodology, which determines the success of the research.
Primary data collection:
The data which is collected for the first time is termed to be the primary data, according
to the researchers, Bonnie and Donna (2011). More clarity as well as idea is provided by
the primary data. The freshness of the data is also assured, since this is the data which is
gathered for the first time. The approaches like surveys, interviews etc are made use to
gather the primary data.
Secondary data collection:
The data which is collected by the other researchers and made use in the present
research, is termed to be the secondary data, clarifies Dawson (2009). The freshness of
the data would be less. A number of sources provide the secondary data required for a
study which includes the books, internet, articles etc.
Justification:
The researcher mainly uses the primary data, which is collected from the managers as
well as the customers of Tesco. This is because more valid as well as reliable data is
assured through the primary data collection, since this data is collected directly from the
individuals who are related to the study. The secondary data is also made use which is
applied from the literature reviews cited in the present dissertation.
3.7 Sampling Techniques
According to the researchers Lohr et al (2009), the methods of selection of the samples
required for the study are performed through the implementation of the sampling
techniques. The two prominent types of sampling techniques are the probability
sampling techniques as well as non probability sampling techniques.
Probability sampling:
As per the explanations given by Lohr (2009), the sampling technique which provides
every individual, an equal chance of being selected, is known as the probability sampling
technique. The random as well as stratified samplings are the prominent features of the
probability sampling. This mode assures the minimization of the biases which are likely
to develop during the sampling.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
Non-probability sampling:
In this type of sampling technique, the chances of selection as the samples, are
restricted to a group of people who act as the sources of the relevant data which is
much important for the successful completion of the study. Since the data is collected
from a group of individuals, the generalized opinions of the entire population are not be
able to be collected through this method.
Justification
The researcher makes the application of probability sampling in the present research
work. This is mainly preferred because the probability sampling ensures the equal
chances of the individuals being selected as the samples for the study. This in turn
improvises the chances of getting generalized opinions of the entire population.
3.8 Reliability of the Research
The reliability of the research is linked to the quality of the research, according to
Creswell (2009). A research study is considered to be reliable, if the conclusions
obtained by the researcher at the end of the study, are in accordance with the aims and
objectives of the research work. The genuine nature of the final conclusions should also
be preserved so as to consider the research work, to be a reliable one. The results
should also be reproduced if any other researcher carries out a study which is resulted
to the present study.
3.9 Validity of the Research
The suggestions made by the researcher, Anderson (2009) reveal the fact that the
validity of any research study is decided by the extent of the attainment of the aims and
objectives of the research through the study. The results produced should be more
accurate as well as valid, says Creswell (2009). The validity of any research could be
classified into two types, which are the internal validity as well as the external validity.
3.10 Ethical issues
The research could be considered as a perfect research if it follows the ethics of the
research. The researcher should follow a definite set of terms and regulations while
performing the research. The privacy of the respondents should be well maintained by
the researcher, and the researcher of the present study has strictly maintained the
privacy of the individuals who have provided the relevant information for the
completion of the research work.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
3.11 Conclusion
The present chapter of the dissertation gives a clear description of the different
techniques which are employed to acquire the relevant data for the successful
completion of the research study. The researcher has also given the justifications for the
selection of each technique.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
4. CONTEXT
This chapter gives a general outline of the details of the company which is selected for
the present research work. The summarized form of the background of the research is
also given through the present chapter of the dissertation.
In the modern days of increased competition in every field, it is very much essential for
all the business firms of every industry, to design and implement the appropriate and
necessary strategies, so as to overcome the tough competition and to emerge
successfully, says Frank (2011). The first and foremost strategy that could be utilized by
almost every firms, irrespective of the industry, would be the proper maintenance of the
relation with the customers, and this is accomplished through the Customer
Relationship Management, according to Francis (2012). The accomplishment of the CRM
would ultimately results in the retention of the customers and the acquisition of
customers as well. Nowadays, almost every company is investing much on the customer
satisfaction as well as customer loyalty, by assuming that both of these aspects result in
the customer retention and customer acquisition. It is also proved that the customer
loyalty forms the major basis for the customer retention and customer acquisition
(though many controversies which state the no effects of the customer loyalty and
customer satisfaction on the retention and acquisition of the customers, have been
developed by a number of prominent researchers), clarifies Duru (2011).
The reputed firm, Tesco Plc, is taken as the case study for the study of the beneficial
effects of CRM and its positive influence on the retention of the existing customers and
the acquisition of the new customers. The firm was founded by Jack Cohen in 1919 and
now the firm has spread its branches in almost all locations across the globe. The firm
could be considered as one of the topmost retailers among the other firms, worldwide.
The firm which stands in the topmost position among the firms across the globe, is using
the strategy of the well maintenance of the CRM. The management of the firm has
adopted the strategy of Customer Relationship Management through the customer
satisfaction by introducing the concept of customer loyalty. The management of the
firm also achieves the aims of the company, which are the customer retention as well as
customer acquisition. The firm is concentrating more on the investments on the
customer satisfaction through the introduction of customer loyalty programs, which
ultimately enhances the rate of the customer retention and customer acquisition as well
(www.tesco.com).
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
5. PRIMARY FINDINGS
5.1 Introduction
The researcher was able to accumulate data which are related to the objectives and
aims of the study. The data which was necessary for the completion of the study, was
obtained from both the managers of the firm, Tesco as well as from the customers
approaching the firm. The researcher collected the data from the managers by
interviewing them and the survey analysis was made use by the researcher to collect the
required data from the customers.
5.2 Analysis of the data from the managers of the firm
The researcher first collected the necessary information from the employees of the firm,
Tesco, who held managerial positions in the firm. The managers were selected as the
samples for the collection of data for the study, because they would be the staffs who
must be involved with the adoption of techniques as well as strategies which would be
vital for the enhancement of the CRM, thereby leading to the customer retention as well
as the customer acquisition. The data was collected from the three managers of Tesco,
through the interview. The interview is well discussed below:
Q1) How do you assess the customer retention programs employed by the firm?
In order to have an understanding of the excellence of the customer retention programs
initiated by the firm, the researcher asked this question to the interviewed managers.
According to all of them, the firm takes much effort in the employment of the best
programs for the accomplishment of the customer retention. The first manager opined
that the customer satisfaction is the basis for the process of customer retention. Thus
for the accomplishment of the customer retention, every firm should concentrate on
the procedures which would augment the customer satisfaction. He also added that the
Tesco takes much effort in the customer retention through the technique of customer
satisfaction. The discount programs were one of the steps initiated by the firm,
according to him. The second manager stated that the introduction of swipe cards
(which when used during the purchases would avail the discounts or offers) was one of
the most important strategies adopted by the firm. However, according to the third
manager, most of the customer retention was mainly through the introduction of the
loyalty programs where the customers are given points, which could redeemed during
the next purchases that could be exchanged with the gifts or any other special item.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
Q2) How does the involvement of technology plays a role in the betterment of the
customer relation management as well as the customer acquisition?
According to the data furnished by the all of the three managers, the researcher was
able to understand that the technology also plays a very vital role in the augmentation
of the customer relation management. They all stated that the firm, Tesco, is giving
much importance for the introduction of the technologies in the firm. They also added
that software has been launched by the firm in order to collect the relevant details of
the customers who purchase from the firm. These data would help the employees of the
firm to deal well with the regular customers of the firm. The third manager also added
that the customer service could be easily enhanced through this tactic which leads to
the customer satisfaction. Once the customer satisfaction is achieved, the firm could
easily accomplish the customer retention. The customer retention would ultimately
leads to the customer acquisition, state all the managers of the firm.
Q3) How does the customer retention is linked to the total profitability of the firm?
When the managers were asked this question, all the interviewed managers, doubtlessly
stated that the net profitability could be easily enhanced through the accomplishment
of customer retention as well as customer acquisition. The customers are the main
sources of income of the firm, thus of they are kept satisfied as well as content, this
would definitely augment the profits and gains of the firm. The second managers also
added that the satisfied customers would recommend the firm to others also, thereby
increasing the fame as well as profits of the firm.
Q4) Does the firm supports the CRM and customer retention programs?
The researcher was able to obtain different opinions from the interviewed managers.
The first manager strongly believed that the firm takes many measures in the provision
of CRM as well as customer retention programs. These include the provision of training
and awareness programs which aid in making the employees understand the necessity
of the CRM and customer retention as well. The customer retention, would definitely
leads to the customer acquisition. But, according to the second and third managers, the
support provided by the firm is not much satisfactory and improvements should be
there so as to enhance the CRM and customer retention as well.
Q5) Does the firm actively presents itself on the internet?
To have an idea on the marketing as well as advertisement strategies adopted by the
firm (which would facilitate the customer retention as well as customer acquisition), the
researcher included the present question. The researcher was able to achieve the same
opinion from three of the managers. According to the managers, the firm believed the
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
advertisement through the words of the satisfied and loyal customers, rather than the
advertisements through the social media or any other mass media.
5.3 Analysis of the data from the customers
The researcher was able to gather the relevant information from the customers also
using a questionnaire which contains a definite set of well planned and designed queries
which are very much related to the customer acquisition and customer retention. The
selection of 25 customers for the purpose of survey analysis, was random. The analysis
of the data which was collected through the survey analysis using the questionnaire is
well discussed below:
Q1) Does the firm succeed in meeting your expectations?
The researcher used the specific question in order to understand to what extent the
firm was successful in meeting the expectations of the customers. The different
responses given by the customers are collected by the researcher and are depicted in
the figure given below:
Expectations met by the firm?
80%
15%
5%
Yes No response No
Fig1: As created by the author in October 2012
The figure clearly explains the responses obtained by the researcher when he asked if
the firm was able to meet the expectations of the customers. From the graph, it is well
understood that majority of the customers felt that the firm was very much successful in
meeting the expectations of the customers. This majority was around 80% of the total
customers approaching the firm. But, a negative response was produced by around 20%
of the surveyed customers. They were not satisfied with the measures taken by the firm
so as to meet the expectations of the customers. However, the remaining 5% did not
give out any response.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
Q2) How do you assess the approach of the employees of the firm, towards you?
To have an idea of the initiative steps taken by the management of the firm in providing
a friendly as well as comfortable environment, the researcher surveyed the customers
using this question also. The following figure clearly explains the responses given by the
surveyed customers with respect to the particular question.
Excellent
Satisfactory
Poor
40
20
40
0
10
20
30
40
Approach of the employees of the
firm
Excellent
Satisfactory
Poor
Fig 2: As created by the author in October 11, 2012
The figure clearly illustrates that a mixed response was expressed by the customers who
were surveyed by the researcher. Out of the total customers, 40% of them expressed
that the approaches of the employees of Tesco towards the customers were excellent as
well as very much appealing, while the same percentage of the customers (around 40%)
opined that the approaches of the staffs of the firm were very poor and need to be
improved. However, just satisfactory opinion was expressed by the remaining 20% of
the total number of surveyed customers.
Q3) Among the given options of Quality of products, Variety of products, approaches
of the employees, which one appeals you the most?
This was asked by the researcher in order to know the perceptions of the customers
regarding the strategies of the firm. Through this particular survey analysis, the
researcher was able to understand the most preferred strategy by the customers of the
firm. The various responses expressed by these surveyed customers are compiled and
shown in the given below figure
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
Most preferred tactic
50%
40%
10% Quality
Variety
Appraoches of the
employees
Fig3: As created by the author in October, 2012
From the diagram shown above, it is could be seen that the exact half of the total
number of the surveyed customers of Tesco was very much attracted to the firm
because of the quality of the products which they were able to get from the firm. The
variety of the available products in the firm, was the most preferred tactic by around
40% of the total customers. However, only a less percentage of the customers was
attracted to the firm through the approaches of the employees of the firm and this
percentage was around just 10%.
Q4) How do you come to know about this firm?
This was included in the questionnaire by the researcher, so as to have an idea of the
advertisement strategies adopted by the firm, Tesco. The customers of the firm,
responded in a very different manner for this question, according to the perceptions.
These diverse opinions are gathered by the researcher and clearly shown in the diagram
which is given below:
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
How do you know about the firm?
45%
40%
15% Through the other
customers
Through the social media
Through the mass media
Fig 4: As created by the author in October 2012
The presence of the firms in the advertisements was able to be understood by the
researcher through the inclusion of this particular question in the questionnaire. He has
also included three options which were, awareness through the customers, through the
social media as well as through the other mass media including TV, Radio, newspapers
etc. As per the data given in the figure, 45% of the customers came to know about the
firm through the word-of-mouth of the other experienced customers. The percentage of
40% was constituted by the customers who came to know about the firm through the
social media including the advertisements given in the facebook, internets etc. The
remaining 15% of the customers opined that the mass media acted as a source of
information about the firm, for them.
Q5) Do you prefer Tesco over the others?
This question was asked to the customers to know if they were loyal towards the firm.
The respondents, according to their views and perceptions responded to this question,
in a different manner. The figure which is given below is a compilation of these diverse
opinions given by the surveyed customers.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
Yes
No
No response
40 40
20
0
5
10
15
20
25
30
35
40
Do you prefer Tesco over the other firms?
Yes
No
No response
Fig 5: As created by the author in October 2012
The graph clearly apparently states that the numbers of respondents who gave a
positive as well as negative expression, are the same. Around 40% of the total surveyed
customers opined that they would prefer the present firm, Tesco, over the other firms
of the industry. The other 40% of the customers, though in a bit confusion, clearly
expressed their dislike towards the firm and they said that they would not prefer Tesco
over the other firms. However, the remaining 20% remained silent and did not express
any opinion.
Q6) Would you recommend this firm to others?
The extent of customer acquisition was understood by the researcher through the
inclusion of the present question. The responses of the surveyed customers are detailed
in the diagram which is shown below:
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
Would you recommend the firm to
others?
70%
30%
Yes
No
Fig 6: As created by the author in October 2012
The data shown in the above diagram clearly shows the responses of the customers
when they were surveyed with the question of their intention to recommend the Tesco,
to the other known people. The majority of the surveyed customers, which included
around 70% opined that they would definitely recommend the firm Tesco, to all the
people they know. At the same time a negative response was obtained from the
remaining 30% of the total number of customers who were subjected to the survey
analysis by the researcher.
5.4 Conclusion
The present chapter of the dissertation gives a detailed picture of the analysis of data
which was collected from the managers of the Tesco, as well as the customers of Tesco,
through the interview and survey analysis respectively. The impact of the customer
relation management on the customer retention as well as customer acquisition was
studied through the chapter.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
6. DISCUSSIONS
The present chapter clearly deals with the discussions of the findings which are
collected by the researcher, through the interview of the managers as well as the survey
analysis of the customers of the selected firm, Tesco plc. The discussions have been
made in a most perfect manner by the researcher in such a way that the discussions are
clearly done in accordance with the aims and objectives of the research study. The
review of literatures which are cited by the other different authors are also well
analyzed by the researcher to arrive in a conclusion. The researcher has combined the
primary data collected from the managers and customers and the secondary
information obtained through the literature reviews, to arrive in a conclusion which
agrees with the aims and objectives of the study.
The researcher states that the customer relationship management has a beneficial
impact on the retention of the existing customers and the acquisition of the new
customers as well. This is in agreement with the results produced through the study
performed by Frank (2011). The researcher also states that the customer relations could
be improved through the customer satisfaction. The customer satisfaction could be
accomplished through the introduction of customer loyalty programs. These findings are
in connection with the findings of Duru (2011) who also supports the improvement of
the customer satisfaction through the customer loyalty programs.
The findings of the researcher of the present study reveal the techniques employed by
the firm for the improvement of the customer loyalty through the customer satisfaction.
Several techniques including the introduction of customer loyalty programs, discount
cards etc have been made applied by the management of the firm, Tesco plc. The firm
has also been interested in the application of the advanced information technology, so
as to keep a record on the details of the customers. This allows the provision of the well
treatment of the customers by the employees of the firm, which results in the improved
customer satisfaction. This finding is a support for the findings of Prakash (2011) who
very well clarifies the improvement of the customer satisfaction using the advanced IT
application. The training and development programs implemented by the management
of the firm, Tesco plc, reveal the importance of these programs on the customer
satisfaction.
The CRM also results in the profitability of the firm, through the customer satisfaction.
This also agrees with the conclusions made by the researchers, Roger et al (2010), who
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
state that the customers are the major sources of income of any firm and it is very much
important for the firm to take care of the necessities and requirements of the customers
approaching the firm. The customer retention ultimately results in the acquisition of the
new customers, as suggested by Bragg (2010). The customers who are satisfied with the
strategies employed by the management of the firm, Tesco plc, act as the agents for the
promotion of the concerned firm, which results in the attraction of new customers, by
which the accomplishment of the customer acquisition is very much possible.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
7. CONCLUSIONS AND RECOMMENDATIONS
7.1 Introduction
The present chapter gives a highlight on the general conclusions made by the
researcher after an assessment of the data collected from the managers as well as
the customers of Tesco. Through the present chapter of the dissertation, the
researcher also tries to explain how the aims and objectives of the current research
are met in an effective manner. These are well discussed in the subsequent
paragraphs.
7.2 Aim of the research
The aim of the research is to investigate the impact of CRM on customer retention
and customer acquisition by taking a case study of Tesco plc.
7.3 Achievement of the objectives
Objective 1: To analyze the measures adopted by Tesco in the enhancement of
CRM in the firm
The researcher collected the relevant data so as to have an idea on the necessary
steps and measures which might help in the enhancement of the Customer Relation
management in the firm, Tesco. The researcher was able to understand from the
words of the managers who were interviewed for the achievement of the objectives
of the study. The managers stated that the customer satisfaction was the
fundamentals for the accomplishment of the customer retention as well as the
customer acquisition in the firm. The customer relation management in the firm is
generally augmented in the firm, through the adoption of retention programs like
discount programs, swipe cards, customer loyalty programs etc. The usage of the
advanced information Technology by the firm, was also observed by the researcher
and he states that the Tesco keeps the record of the customers with an advanced
software which enables the strategy of personalization through which the regular
customers are given more preference. Though not in a satisfactory mode, the
managers also opined that the firm also makes aware of the employees of the
importance of the customer relationship management, through the provision of
training as well as awareness programs. The employees are also trained to behave
well with the customers so as to impress them and to develop a sense of customer
loyalty.
Objective 2: To evaluate the competitive advantage using CRM
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
The researcher of the present study was able to conclude that the CRM also acts an
added advantage in the cases of competition with the other opponents of the
industry. If the firm is capable of managing proper and perfect relationship with the
customers, it would helps the development of customer loyalty. The loyal customers
are easily retained by the firm. It was also understood from the words of the
researcher that the customers are the major sources of income for the firm, thus
increased customer satisfaction would definitely increase the net profits and gains of
the firm through customer retention. The customers thus retained would also act as
the ambassadors of the firm, through which customer acquisition is very much
possible for the firm. The firm, Tesco, has been always keen in the introduction of a
variety of quality as well as standard products so as to satisfy the customers and to
retain them.
Objective 3: To assess the impact of customer retention on customer acquisition in
Tesco.
It is very well understood by the researcher, from the opinions of the interviewed
managers of Tesco, as well as the surveyed customers of Tesco, that the CRM has a
direct influence on the customer retention. From the opinions of these managers
and customers, the researcher was able to conclude the necessity and vitality of the
customer retention on the acquisition of new customers. From the survey
conducted by the researcher, he was able to understand that only satisfied
customers develop customer loyalty for the firm and only these customers are
retained by the firm. The retained customers not only give preference to the firm
over the other firms of the industry, but also recommend the Tesco to the people
whom they interact with. This ultimately results in the attraction of these new
customers towards Tesco and thus the customer acquisition is clearly accomplished.
7.4 Recommendations
The recommendations given by the researcher are compiled and listed out below:
a) Improvement in the approach of the employees: The firm has applied the
strategy of personalization for the better treatment of the regular customers
of the firm, Tesco. This has created a good opinion among the regular
customers, on the other hand, a feel of dissatisfaction was developed in the
minds of the customers who do not visit the firm often. So, it would be
better if the non regular customers are also treated and entertained in an
excellent way which also compels them to be the regular customers of the
Tesco.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
b) More support from the management of the firm: It could be clearly seen that
the support given by the management of the firm is not much satisfactory.
Thus, the researcher also suggests that the scenario would be better if more
active programs are launched by the management of the firm which would
assist in the awareness of the employees about the importance of the CRM,
thus resulting in the customer retention as well as customer acquisition.
c) Improvement in the customer loyalty: Because of the carelessness of the
management as well as the employees of the firm, the customer loyalty of
the customers approaching Tesco is not satisfactory. So, according to the
researcher, it is high time for the management of the firm to take the
necessary steps so as to enhance the customer loyalty.
7.5 Conclusion
This is the final chapter of the dissertation which gives a clear summary of the data
obtained by the researcher through the interview of the managers as well as the
survey analysis of the customers, of the firm Tesco. The study could also be
considered as a valid and reliable study since the aims and objectives of the study
are thoroughly met by the researcher in a very lucid manner. Through the present
chapter, the researcher is also successful in proving the relationship between the
customer relation management, customer retention as well as customer acquisition.
The researcher also has given some necessary recommendations which would be
helpful in the betterment of the scenario of the firm, Tesco.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
REFERENCES
BOOK REFERENCES
1. Annette Margaret O'Connell (2009), “Customer Retention and Leadership in the
Nonprofit Healthcare Organization”, ProQuest.
2. Beebe S A, Mottet T P and Roach K D (2011), “Training and development:
enhancing communication and leadership skills”, Allyn and Bacon.
3. Blanchard, P.N., Thacker, J.W., & Way, S.A. (2011). Training evaluation:
Perspectives and evidence from Canada. Indian Journal of Industrial
Relations, 33(3), 295-304
4. Chika Ebenezer Duru (2011), “The Impact of Leadership Roles in Relation to
Customer Retention”, 5th
Edition, ProQuest.
5. Francis Buttle (2012), “Customer Relationship Management”, Routledge.
6. Frank Kojo Kuranchie (2011), “Customer Retention and Relationship
Management”, Lambert Academic Publishing.
7. Gerhard Raab (2010), “Customer Relationship Management: A Global
Perspective”, Gower Publishing, Ltd.
8. Lakshman Jha (2009), “Customer Relationship Management: A Strategic
Approach”, Global India Publications.
9. Maik Prebler and Christian Einicke (2010), “Customer Retention as a Part of
Customer Relationship Management of Private Broadcasting Radio Stations”,
GRIN Verlag.
10. Margit Huber, Susanne O'Gorman (2010), “From Customer Retention to a
Holistic Stakeholder Management System: Living a Vision”, Springer.
11. Mauricio Mittelman, Vincent Onyemah (2011), “Customer relationship
management: strategies and company-wide implementation”, Marketing Science
Institute.
12. Nedunuri Rama Mohan Prakash (2011), “Customer Relationship Management”,
Lambert Academic Publishing.
13. Puneet Mehta (2011), “MANAGEMENT CONSULTING IN PRACTICE: Efficient Ways
of Performing Business Tasks”, Global India Publications.
14. Rene J. Trasorras (2010), “The Relationship of Value, Satisfaction and Loyalty on
Customer Retention in the Professional Service Sector”, ProQuest.
15. Roger Joseph Baran, Roger J. Galka and Daniel P. Strunk (2010), “ Principles of
Customer Relationship Management”, Cengage Learning.
16. Sarika Sharma and D P Goyal (2012), “Customer Relationship Management”, LAP
Lambert Acad. Publ.
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
17. Simon Knox, Adrian Payne, Lynette Ryals, Stan Maklan and Joe Peppard (2012),
“Customer Relationship Management”, Routledge.
18. Timothy F. Bednarz (2011), “Strengthening Customer Retention: Pinpoint Sales
Skill Development Training Series”, Majorium Business Press.
19. Lynette Ryals (2010), “Managing Customers Profitably”, John Wiley & Sons.
20. Kaushik Mukerjee (2010), “Customers Relationship Management: A Strategic
Approach To Marketing”, PHI Learning Pvt. Ltd.
21. Julian Villanueva (2011), “Acquisition channels and price discrimination in a
customer equity framework”, University of California.
22. Michael E. S. Frankel (2011), “Mergers and Acquisitions Basics: The Key Steps of
Acquisitions, Divestitures, and Investments”, John Wiley & Sons.
23. Steven M. Bragg (2010), “Mergers and Acquisitions: A Condensed Practitioner's
Guide”, John Wiley & Sons.
24. Jan Wiid and Collin Diggines (2010), “Marketing Research”, Juta and Company
Ltd
25. Ranjit Kumar (2010), “Research Methodology: A Step-by-Step Guide for
Beginners”, 3rd
Edition, SAGE Publications Ltd.
26. Bryman, A. (2010) Social Research Methods, 3rd
Edition, Oxford , Oxford
University P ress.
27. Robert.G.Gibbons, 2008. Research philosophy and techniques.
28. Sean Coyle (2006), “From positivism to idealism: a study of the moral dimensions
of legality”, Ashgate Publishing, Ltd.
29. Dawson C (2009) “ Introduction to Research Methods: A Practical guide for any
undertaking research project”, 4th
Edition. Sage Publication.
30. Gravetter F. J and Forzano. ,L. A. B (2011), Research Methods for the Behavioral
Sciences, Wadsworth Cengage Learning, 4 th edition.
31. Giorgio et al, 2010. Brief strategic therapy- philosophy, technology and research.
32. Peter Broeder, 2009. Models of language acquisition- inductive and deductive
approach.
33. Bonni. C. Hodges and Donna. M. Videto (2011), “Assessment and Planning in
Health Programs”, 2nd
Edition, Jones & Bartlett Learning.
34. Chris et al, (2009), Research methodology. 4th
edition, prentice hall.
35. Lohr et al (2009), “Sampling, design and analysis,” Palgrave Macmillan, New York
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
WEB REFRENCES
36. www.tescoplc.com
FIGURE REFERENCES
37. Anderson, V. (2009), “Research Methods in HRM”, CIPD
38. Diagram 5.1 “Expectations met by the firm”, As created by the author in Oct
2012
39. Diagram 5.2 “Approach of the employees of the firm”, As created by the author
in Oct 2012
40. Diagram 5.3 “Most preferred tactic”, As created by the author in Oct 2012
41. Diagram 5.4 “How do you know about the firm?”, As created by the author in
Oct 2012
42. Diagram 5.5 “Do you prefer Tesco over the others?”, As created by the author in
Oct 2012
43. Diagram 5.6 “Would you recommend Tesco to others?”, As created by the
author in Oct 2012
APPENDIX
Interview question with the managers of Tesco
The interview questions are prepared to find out impact customer relationship
management on customer retention and customer acquisition on Tesco. The researcher
will conduct interview with an official of Tesco in one of the biggest Tesco store, located
in Upton Park. The interview questions prepared are as following.
Q1) How do you assess the customer retention programs employed by the firm?
Q2) How does the involvement of technology plays a role in the betterment of the
customer relation management as well as the customer acquisition?
Q3) How does the customer retention is linked to the total profitability of the firm?
Q4) Does the firm supports the CRM and customer retention programs?
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
Q5) Does the firm actively presents itself on the internet?
Consumer questionnaires design
In this research, the self administered close ended questions will be distributed to the
employees of Tesco in Upton park , London. About 25 employees will be chosen
randomly as samples to carry out this research
Q1) Does the firm succeed in meeting your expectations?
o Yes
o No
o No response
Q2) How do you assess the approach of the employees of the firm, towards you?
o Excellent
o Satisfactory
o Poor
Q3) Among the given options of Quality of products, Variety of products, approaches of
the employees, which one appeals you the most?
o Quality
o Variety
o Approaches of the employees
Q4) How do you come to know about this firm?
o Through the other customers
o Through the employees
o Through the mass media
Q5) Do you prefer Tesco over the others?
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
Get your 1st
class custom-written paper with 10% off at http://writinghub.co.uk/
o Yes
o No
o No response
Q6) Would you recommend this firm to others?
o Yes
o No
Thank you for your valuable time. It is assured that the content and outcomes are for
pure academic requirements and will not be made for any commercial
Explore more free essays, assignments, and research papers at http://writinghub.co.uk/

More Related Content

What's hot

Sustainable marketing
Sustainable marketingSustainable marketing
Sustainable marketingRaunaqSingh28
 
Brand management ppt
Brand management ppt Brand management ppt
Brand management ppt Babasab Patil
 
Mba marketing mngt projects
Mba marketing mngt projectsMba marketing mngt projects
Mba marketing mngt projectsMd Asif uddin
 
A study of customer satisfaction on after sales and service conducted at arpi...
A study of customer satisfaction on after sales and service conducted at arpi...A study of customer satisfaction on after sales and service conducted at arpi...
A study of customer satisfaction on after sales and service conducted at arpi...Projects Kart
 
A study of consumer satisfaction referring on Amazon Online Shopping
A study of consumer satisfaction referring on Amazon Online ShoppingA study of consumer satisfaction referring on Amazon Online Shopping
A study of consumer satisfaction referring on Amazon Online ShoppingAmit Sarkar
 
A project report on role of packaging on consumer buying behavior
A project report on role of packaging on consumer buying behaviorA project report on role of packaging on consumer buying behavior
A project report on role of packaging on consumer buying behaviorProjects Kart
 
List of mba project topics reports
List of  mba project topics  reportsList of  mba project topics  reports
List of mba project topics reportsBabasab Patil
 
Internship project of marketing strategies analysis
Internship project of marketing strategies analysis Internship project of marketing strategies analysis
Internship project of marketing strategies analysis Harshita Bansal
 
A Study on Effectiveness of Various Sales Promotional Activities of Arpita Bajaj
A Study on Effectiveness of Various Sales Promotional Activities of Arpita BajajA Study on Effectiveness of Various Sales Promotional Activities of Arpita Bajaj
A Study on Effectiveness of Various Sales Promotional Activities of Arpita BajajProjects Kart
 
A STUDY ON CUSTOMER PREFERENCES TOWARDS ONLINE GROCERY SHOPPING IN BANGALORE ...
A STUDY ON CUSTOMER PREFERENCES TOWARDS ONLINE GROCERY SHOPPING IN BANGALORE ...A STUDY ON CUSTOMER PREFERENCES TOWARDS ONLINE GROCERY SHOPPING IN BANGALORE ...
A STUDY ON CUSTOMER PREFERENCES TOWARDS ONLINE GROCERY SHOPPING IN BANGALORE ...RAMESH CHAVAN
 
A project report on to study the customers satisfaction towards mrf tyres at...
A project report on  to study the customers satisfaction towards mrf tyres at...A project report on  to study the customers satisfaction towards mrf tyres at...
A project report on to study the customers satisfaction towards mrf tyres at...Babasab Patil
 
Impact of Packaging on Consumer Buying Behavior.
Impact of Packaging on Consumer Buying Behavior.Impact of Packaging on Consumer Buying Behavior.
Impact of Packaging on Consumer Buying Behavior.Saurabh Giratkar
 
Effect of Sales Promotion on the sale of FMCG products
Effect of Sales Promotion on the sale of FMCG productsEffect of Sales Promotion on the sale of FMCG products
Effect of Sales Promotion on the sale of FMCG productsImran Sayed
 
A project report on consumer preferences in selected brands (whirlpool, video...
A project report on consumer preferences in selected brands (whirlpool, video...A project report on consumer preferences in selected brands (whirlpool, video...
A project report on consumer preferences in selected brands (whirlpool, video...Projects Kart
 
Marketing Analysis Fipkart
Marketing Analysis FipkartMarketing Analysis Fipkart
Marketing Analysis FipkartT Subham Sharaff
 
Sample mba final year project
Sample mba final year projectSample mba final year project
Sample mba final year projectSiddanna Balapgol
 
Questionnaire for the Private Banking Sector
Questionnaire for the Private Banking SectorQuestionnaire for the Private Banking Sector
Questionnaire for the Private Banking SectorMinaxi Gosai
 
MBA Final year Project - Customer satisfaction
MBA Final year Project - Customer satisfactionMBA Final year Project - Customer satisfaction
MBA Final year Project - Customer satisfactionVijendra Kumar (VJ)
 

What's hot (20)

Sustainable marketing
Sustainable marketingSustainable marketing
Sustainable marketing
 
Brand management ppt
Brand management ppt Brand management ppt
Brand management ppt
 
Mba marketing mngt projects
Mba marketing mngt projectsMba marketing mngt projects
Mba marketing mngt projects
 
A study of customer satisfaction on after sales and service conducted at arpi...
A study of customer satisfaction on after sales and service conducted at arpi...A study of customer satisfaction on after sales and service conducted at arpi...
A study of customer satisfaction on after sales and service conducted at arpi...
 
A study of consumer satisfaction referring on Amazon Online Shopping
A study of consumer satisfaction referring on Amazon Online ShoppingA study of consumer satisfaction referring on Amazon Online Shopping
A study of consumer satisfaction referring on Amazon Online Shopping
 
A project report on role of packaging on consumer buying behavior
A project report on role of packaging on consumer buying behaviorA project report on role of packaging on consumer buying behavior
A project report on role of packaging on consumer buying behavior
 
List of mba project topics reports
List of  mba project topics  reportsList of  mba project topics  reports
List of mba project topics reports
 
Internship project of marketing strategies analysis
Internship project of marketing strategies analysis Internship project of marketing strategies analysis
Internship project of marketing strategies analysis
 
A Study on Effectiveness of Various Sales Promotional Activities of Arpita Bajaj
A Study on Effectiveness of Various Sales Promotional Activities of Arpita BajajA Study on Effectiveness of Various Sales Promotional Activities of Arpita Bajaj
A Study on Effectiveness of Various Sales Promotional Activities of Arpita Bajaj
 
A STUDY ON CUSTOMER PREFERENCES TOWARDS ONLINE GROCERY SHOPPING IN BANGALORE ...
A STUDY ON CUSTOMER PREFERENCES TOWARDS ONLINE GROCERY SHOPPING IN BANGALORE ...A STUDY ON CUSTOMER PREFERENCES TOWARDS ONLINE GROCERY SHOPPING IN BANGALORE ...
A STUDY ON CUSTOMER PREFERENCES TOWARDS ONLINE GROCERY SHOPPING IN BANGALORE ...
 
A project report on to study the customers satisfaction towards mrf tyres at...
A project report on  to study the customers satisfaction towards mrf tyres at...A project report on  to study the customers satisfaction towards mrf tyres at...
A project report on to study the customers satisfaction towards mrf tyres at...
 
Impact of Packaging on Consumer Buying Behavior.
Impact of Packaging on Consumer Buying Behavior.Impact of Packaging on Consumer Buying Behavior.
Impact of Packaging on Consumer Buying Behavior.
 
Marketing Strategy of Aarong
Marketing Strategy of AarongMarketing Strategy of Aarong
Marketing Strategy of Aarong
 
Consumer Behaviour
Consumer BehaviourConsumer Behaviour
Consumer Behaviour
 
Effect of Sales Promotion on the sale of FMCG products
Effect of Sales Promotion on the sale of FMCG productsEffect of Sales Promotion on the sale of FMCG products
Effect of Sales Promotion on the sale of FMCG products
 
A project report on consumer preferences in selected brands (whirlpool, video...
A project report on consumer preferences in selected brands (whirlpool, video...A project report on consumer preferences in selected brands (whirlpool, video...
A project report on consumer preferences in selected brands (whirlpool, video...
 
Marketing Analysis Fipkart
Marketing Analysis FipkartMarketing Analysis Fipkart
Marketing Analysis Fipkart
 
Sample mba final year project
Sample mba final year projectSample mba final year project
Sample mba final year project
 
Questionnaire for the Private Banking Sector
Questionnaire for the Private Banking SectorQuestionnaire for the Private Banking Sector
Questionnaire for the Private Banking Sector
 
MBA Final year Project - Customer satisfaction
MBA Final year Project - Customer satisfactionMBA Final year Project - Customer satisfaction
MBA Final year Project - Customer satisfaction
 

Similar to Dissertation research on the effectiveness of customer relationship management on customer retention and customer acquisition- a case study of tesco plc.

Effectiveness of CRM programme in sbi
Effectiveness of CRM programme in sbiEffectiveness of CRM programme in sbi
Effectiveness of CRM programme in sbiEguardian India
 
Week 1 Lecture The Nature of Business ResearchBusiness researc.docx
Week 1 Lecture        The Nature of Business ResearchBusiness  researc.docxWeek 1 Lecture        The Nature of Business ResearchBusiness  researc.docx
Week 1 Lecture The Nature of Business ResearchBusiness researc.docxkdennis3
 
Customer management and organizational performance of banking sector a case ...
Customer management and organizational performance of banking sector  a case ...Customer management and organizational performance of banking sector  a case ...
Customer management and organizational performance of banking sector a case ...Alexander Decker
 
Undergraduate Major Project Lauri Karvonen
Undergraduate Major Project Lauri KarvonenUndergraduate Major Project Lauri Karvonen
Undergraduate Major Project Lauri KarvonenLauri Karvonen
 
Project report on
Project report onProject report on
Project report onchanit865
 
Running head course project –annotated bibliography and outline1.docx
Running head course project –annotated bibliography and outline1.docxRunning head course project –annotated bibliography and outline1.docx
Running head course project –annotated bibliography and outline1.docxsusanschei
 
customer satisfaction
customer satisfactioncustomer satisfaction
customer satisfactionman to die
 
Is Amazon a Customer Focused Company
Is Amazon a Customer Focused CompanyIs Amazon a Customer Focused Company
Is Amazon a Customer Focused CompanySultan Islam
 
cust satisfaction analysis.pdf
cust satisfaction analysis.pdfcust satisfaction analysis.pdf
cust satisfaction analysis.pdfSunil Kakkar
 
What is the role of motivation in increasing the performance of the employees...
What is the role of motivation in increasing the performance of the employees...What is the role of motivation in increasing the performance of the employees...
What is the role of motivation in increasing the performance of the employees...WritingHubUK
 
Research writing technique
Research writing techniqueResearch writing technique
Research writing techniqueHARRY ENTEBANG
 
A Comparative Case Study Investigating the Adoption of Customer Relationship ...
A Comparative Case Study Investigating the Adoption of Customer Relationship ...A Comparative Case Study Investigating the Adoption of Customer Relationship ...
A Comparative Case Study Investigating the Adoption of Customer Relationship ...ijmvsc
 
Weekly tasks or assignments (Individual or Group Projects) will be.docx
Weekly tasks or assignments (Individual or Group Projects) will be.docxWeekly tasks or assignments (Individual or Group Projects) will be.docx
Weekly tasks or assignments (Individual or Group Projects) will be.docxphilipnelson29183
 
Five-Minute MBA - Corporate Finance.pdf
Five-Minute MBA - Corporate Finance.pdfFive-Minute MBA - Corporate Finance.pdf
Five-Minute MBA - Corporate Finance.pdfAbeer Fouad Agami
 

Similar to Dissertation research on the effectiveness of customer relationship management on customer retention and customer acquisition- a case study of tesco plc. (20)

Effectiveness of CRM programme in sbi
Effectiveness of CRM programme in sbiEffectiveness of CRM programme in sbi
Effectiveness of CRM programme in sbi
 
Week 1 Lecture The Nature of Business ResearchBusiness researc.docx
Week 1 Lecture        The Nature of Business ResearchBusiness  researc.docxWeek 1 Lecture        The Nature of Business ResearchBusiness  researc.docx
Week 1 Lecture The Nature of Business ResearchBusiness researc.docx
 
Customer management and organizational performance of banking sector a case ...
Customer management and organizational performance of banking sector  a case ...Customer management and organizational performance of banking sector  a case ...
Customer management and organizational performance of banking sector a case ...
 
Undergraduate Major Project Lauri Karvonen
Undergraduate Major Project Lauri KarvonenUndergraduate Major Project Lauri Karvonen
Undergraduate Major Project Lauri Karvonen
 
Project report on
Project report onProject report on
Project report on
 
Running head course project –annotated bibliography and outline1.docx
Running head course project –annotated bibliography and outline1.docxRunning head course project –annotated bibliography and outline1.docx
Running head course project –annotated bibliography and outline1.docx
 
customer satisfaction
customer satisfactioncustomer satisfaction
customer satisfaction
 
Is Amazon a Customer Focused Company
Is Amazon a Customer Focused CompanyIs Amazon a Customer Focused Company
Is Amazon a Customer Focused Company
 
cust satisfaction analysis.pdf
cust satisfaction analysis.pdfcust satisfaction analysis.pdf
cust satisfaction analysis.pdf
 
Final 3 chaps 1
Final 3 chaps 1Final 3 chaps 1
Final 3 chaps 1
 
What is the role of motivation in increasing the performance of the employees...
What is the role of motivation in increasing the performance of the employees...What is the role of motivation in increasing the performance of the employees...
What is the role of motivation in increasing the performance of the employees...
 
Ijm 06 10_014
Ijm 06 10_014Ijm 06 10_014
Ijm 06 10_014
 
Engagement 3.0 US report
Engagement 3.0 US report Engagement 3.0 US report
Engagement 3.0 US report
 
Customer relationship management in indian commercial banks
Customer relationship management in indian commercial banksCustomer relationship management in indian commercial banks
Customer relationship management in indian commercial banks
 
Research writing technique
Research writing techniqueResearch writing technique
Research writing technique
 
A Comparative Case Study Investigating the Adoption of Customer Relationship ...
A Comparative Case Study Investigating the Adoption of Customer Relationship ...A Comparative Case Study Investigating the Adoption of Customer Relationship ...
A Comparative Case Study Investigating the Adoption of Customer Relationship ...
 
Weekly tasks or assignments (Individual or Group Projects) will be.docx
Weekly tasks or assignments (Individual or Group Projects) will be.docxWeekly tasks or assignments (Individual or Group Projects) will be.docx
Weekly tasks or assignments (Individual or Group Projects) will be.docx
 
Examining the Relationship Between Reference Marketing, Brand Reputation and ...
Examining the Relationship Between Reference Marketing, Brand Reputation and ...Examining the Relationship Between Reference Marketing, Brand Reputation and ...
Examining the Relationship Between Reference Marketing, Brand Reputation and ...
 
HSBC-Final-M Islam
HSBC-Final-M IslamHSBC-Final-M Islam
HSBC-Final-M Islam
 
Five-Minute MBA - Corporate Finance.pdf
Five-Minute MBA - Corporate Finance.pdfFive-Minute MBA - Corporate Finance.pdf
Five-Minute MBA - Corporate Finance.pdf
 

More from WritingHubUK

Research to examine the concepts of management of cultural diversity, motiva...
Research  to examine the concepts of management of cultural diversity, motiva...Research  to examine the concepts of management of cultural diversity, motiva...
Research to examine the concepts of management of cultural diversity, motiva...WritingHubUK
 
Dissertation investigation into the factors motivating impulse shopping behav...
Dissertation investigation into the factors motivating impulse shopping behav...Dissertation investigation into the factors motivating impulse shopping behav...
Dissertation investigation into the factors motivating impulse shopping behav...WritingHubUK
 
Dissertation to investigate and understand the possible impacts, both positi...
Dissertation  to investigate and understand the possible impacts, both positi...Dissertation  to investigate and understand the possible impacts, both positi...
Dissertation to investigate and understand the possible impacts, both positi...WritingHubUK
 
Dissertation study into the various factors influencing the employees perfom...
Dissertation  study into the various factors influencing the employees perfom...Dissertation  study into the various factors influencing the employees perfom...
Dissertation study into the various factors influencing the employees perfom...WritingHubUK
 
Dissertation study into the marketing of organic clothing and consumer buyin...
Dissertation  study into the marketing of organic clothing and consumer buyin...Dissertation  study into the marketing of organic clothing and consumer buyin...
Dissertation study into the marketing of organic clothing and consumer buyin...WritingHubUK
 
Dissertation research on the risk management challenges encountered during s...
Dissertation  research on the risk management challenges encountered during s...Dissertation  research on the risk management challenges encountered during s...
Dissertation research on the risk management challenges encountered during s...WritingHubUK
 
Dissertation effectiveness of employee engagement and employee motivation on...
Dissertation  effectiveness of employee engagement and employee motivation on...Dissertation  effectiveness of employee engagement and employee motivation on...
Dissertation effectiveness of employee engagement and employee motivation on...WritingHubUK
 
Dissertation changing needs and wants of consumers have made mobile handset ...
Dissertation  changing needs and wants of consumers have made mobile handset ...Dissertation  changing needs and wants of consumers have made mobile handset ...
Dissertation changing needs and wants of consumers have made mobile handset ...WritingHubUK
 
Dissertation assessment of strategies followed by the etihad airways
Dissertation  assessment of strategies followed by the etihad airways Dissertation  assessment of strategies followed by the etihad airways
Dissertation assessment of strategies followed by the etihad airways WritingHubUK
 
Dissertation consumer perceptions of coffee producers and their corporate s...
Dissertation   consumer perceptions of coffee producers and their corporate s...Dissertation   consumer perceptions of coffee producers and their corporate s...
Dissertation consumer perceptions of coffee producers and their corporate s...WritingHubUK
 
An investigative study into the impact of globalization on the barclays bank
An investigative study into the impact of globalization on the barclays bankAn investigative study into the impact of globalization on the barclays bank
An investigative study into the impact of globalization on the barclays bankWritingHubUK
 
A critical research on ' personnel selling in saudi arabia', taking the case ...
A critical research on ' personnel selling in saudi arabia', taking the case ...A critical research on ' personnel selling in saudi arabia', taking the case ...
A critical research on ' personnel selling in saudi arabia', taking the case ...WritingHubUK
 
A critical analysis of customer satisfaction and brand value a comprehensive...
A critical analysis of customer satisfaction and brand value  a comprehensive...A critical analysis of customer satisfaction and brand value  a comprehensive...
A critical analysis of customer satisfaction and brand value a comprehensive...WritingHubUK
 
Strategic business-practice
Strategic business-practiceStrategic business-practice
Strategic business-practiceWritingHubUK
 
Managing organizational health
Managing organizational healthManaging organizational health
Managing organizational healthWritingHubUK
 
Change in credit policy
Change in credit policyChange in credit policy
Change in credit policyWritingHubUK
 
An assignment in risk management
An assignment in risk managementAn assignment in risk management
An assignment in risk managementWritingHubUK
 
To study the impact of corporate social and environmental reporting on stock ...
To study the impact of corporate social and environmental reporting on stock ...To study the impact of corporate social and environmental reporting on stock ...
To study the impact of corporate social and environmental reporting on stock ...WritingHubUK
 
To investigate the impact of social media marketing on customer engagement
To investigate the impact of social media marketing on customer engagementTo investigate the impact of social media marketing on customer engagement
To investigate the impact of social media marketing on customer engagementWritingHubUK
 
To evaluate the impact of social media marketing on organisational performance
To evaluate the impact of social media marketing on organisational performanceTo evaluate the impact of social media marketing on organisational performance
To evaluate the impact of social media marketing on organisational performanceWritingHubUK
 

More from WritingHubUK (20)

Research to examine the concepts of management of cultural diversity, motiva...
Research  to examine the concepts of management of cultural diversity, motiva...Research  to examine the concepts of management of cultural diversity, motiva...
Research to examine the concepts of management of cultural diversity, motiva...
 
Dissertation investigation into the factors motivating impulse shopping behav...
Dissertation investigation into the factors motivating impulse shopping behav...Dissertation investigation into the factors motivating impulse shopping behav...
Dissertation investigation into the factors motivating impulse shopping behav...
 
Dissertation to investigate and understand the possible impacts, both positi...
Dissertation  to investigate and understand the possible impacts, both positi...Dissertation  to investigate and understand the possible impacts, both positi...
Dissertation to investigate and understand the possible impacts, both positi...
 
Dissertation study into the various factors influencing the employees perfom...
Dissertation  study into the various factors influencing the employees perfom...Dissertation  study into the various factors influencing the employees perfom...
Dissertation study into the various factors influencing the employees perfom...
 
Dissertation study into the marketing of organic clothing and consumer buyin...
Dissertation  study into the marketing of organic clothing and consumer buyin...Dissertation  study into the marketing of organic clothing and consumer buyin...
Dissertation study into the marketing of organic clothing and consumer buyin...
 
Dissertation research on the risk management challenges encountered during s...
Dissertation  research on the risk management challenges encountered during s...Dissertation  research on the risk management challenges encountered during s...
Dissertation research on the risk management challenges encountered during s...
 
Dissertation effectiveness of employee engagement and employee motivation on...
Dissertation  effectiveness of employee engagement and employee motivation on...Dissertation  effectiveness of employee engagement and employee motivation on...
Dissertation effectiveness of employee engagement and employee motivation on...
 
Dissertation changing needs and wants of consumers have made mobile handset ...
Dissertation  changing needs and wants of consumers have made mobile handset ...Dissertation  changing needs and wants of consumers have made mobile handset ...
Dissertation changing needs and wants of consumers have made mobile handset ...
 
Dissertation assessment of strategies followed by the etihad airways
Dissertation  assessment of strategies followed by the etihad airways Dissertation  assessment of strategies followed by the etihad airways
Dissertation assessment of strategies followed by the etihad airways
 
Dissertation consumer perceptions of coffee producers and their corporate s...
Dissertation   consumer perceptions of coffee producers and their corporate s...Dissertation   consumer perceptions of coffee producers and their corporate s...
Dissertation consumer perceptions of coffee producers and their corporate s...
 
An investigative study into the impact of globalization on the barclays bank
An investigative study into the impact of globalization on the barclays bankAn investigative study into the impact of globalization on the barclays bank
An investigative study into the impact of globalization on the barclays bank
 
A critical research on ' personnel selling in saudi arabia', taking the case ...
A critical research on ' personnel selling in saudi arabia', taking the case ...A critical research on ' personnel selling in saudi arabia', taking the case ...
A critical research on ' personnel selling in saudi arabia', taking the case ...
 
A critical analysis of customer satisfaction and brand value a comprehensive...
A critical analysis of customer satisfaction and brand value  a comprehensive...A critical analysis of customer satisfaction and brand value  a comprehensive...
A critical analysis of customer satisfaction and brand value a comprehensive...
 
Strategic business-practice
Strategic business-practiceStrategic business-practice
Strategic business-practice
 
Managing organizational health
Managing organizational healthManaging organizational health
Managing organizational health
 
Change in credit policy
Change in credit policyChange in credit policy
Change in credit policy
 
An assignment in risk management
An assignment in risk managementAn assignment in risk management
An assignment in risk management
 
To study the impact of corporate social and environmental reporting on stock ...
To study the impact of corporate social and environmental reporting on stock ...To study the impact of corporate social and environmental reporting on stock ...
To study the impact of corporate social and environmental reporting on stock ...
 
To investigate the impact of social media marketing on customer engagement
To investigate the impact of social media marketing on customer engagementTo investigate the impact of social media marketing on customer engagement
To investigate the impact of social media marketing on customer engagement
 
To evaluate the impact of social media marketing on organisational performance
To evaluate the impact of social media marketing on organisational performanceTo evaluate the impact of social media marketing on organisational performance
To evaluate the impact of social media marketing on organisational performance
 

Recently uploaded

CALL GIRLS 9999288940 women seeking men Locanto No Advance North Goa
CALL GIRLS 9999288940 women seeking men Locanto No Advance North GoaCALL GIRLS 9999288940 women seeking men Locanto No Advance North Goa
CALL GIRLS 9999288940 women seeking men Locanto No Advance North Goadelhincr993
 
Call Girls | 😏💦 03274100048 | Call Girls Near Me
Call Girls | 😏💦 03274100048 | Call Girls Near MeCall Girls | 😏💦 03274100048 | Call Girls Near Me
Call Girls | 😏💦 03274100048 | Call Girls Near MeIfra Zohaib
 
MYSORE CALL GIRLS ESCORT SER 92628/71154
MYSORE CALL GIRLS ESCORT SER 92628/71154MYSORE CALL GIRLS ESCORT SER 92628/71154
MYSORE CALL GIRLS ESCORT SER 92628/71154NiteshKumar82226
 
Hot Vip Call Girls Service In Sector 149,9818099198 Young Female Escorts Serv...
Hot Vip Call Girls Service In Sector 149,9818099198 Young Female Escorts Serv...Hot Vip Call Girls Service In Sector 149,9818099198 Young Female Escorts Serv...
Hot Vip Call Girls Service In Sector 149,9818099198 Young Female Escorts Serv...riyaescorts54
 
+91-9310611641 Russian Call Girls In New Delhi Independent Russian Call Girls...
+91-9310611641 Russian Call Girls In New Delhi Independent Russian Call Girls...+91-9310611641 Russian Call Girls In New Delhi Independent Russian Call Girls...
+91-9310611641 Russian Call Girls In New Delhi Independent Russian Call Girls...teencall080
 
Call Girls In Dwarka Delhi 💯Call Us 🔝9711014705🔝
Call Girls In Dwarka Delhi 💯Call Us 🔝9711014705🔝Call Girls In Dwarka Delhi 💯Call Us 🔝9711014705🔝
Call Girls In Dwarka Delhi 💯Call Us 🔝9711014705🔝thapagita
 
VAPI CALL GIRL 92628/71154 VAPI CALL GIR
VAPI CALL GIRL 92628/71154 VAPI CALL GIRVAPI CALL GIRL 92628/71154 VAPI CALL GIR
VAPI CALL GIRL 92628/71154 VAPI CALL GIRNiteshKumar82226
 
Call Girls In Naraina (Delhi) +91-9667422720 Escorts Service
Call Girls In Naraina (Delhi) +91-9667422720 Escorts ServiceCall Girls In Naraina (Delhi) +91-9667422720 Escorts Service
Call Girls In Naraina (Delhi) +91-9667422720 Escorts ServiceLipikasharma29
 
KAKINADA CALL GIRL 92628/71154 KAKINADA C
KAKINADA CALL GIRL 92628/71154 KAKINADA CKAKINADA CALL GIRL 92628/71154 KAKINADA C
KAKINADA CALL GIRL 92628/71154 KAKINADA CNiteshKumar82226
 
Call Girls In {{Laxmi Nagar Delhi}} 9667938988 Indian Russian High Profile Es...
Call Girls In {{Laxmi Nagar Delhi}} 9667938988 Indian Russian High Profile Es...Call Girls In {{Laxmi Nagar Delhi}} 9667938988 Indian Russian High Profile Es...
Call Girls In {{Laxmi Nagar Delhi}} 9667938988 Indian Russian High Profile Es...aakahthapa70
 
SURAT CALL GIRL 92628/71154 SURAT CALL G
SURAT CALL GIRL 92628/71154 SURAT CALL GSURAT CALL GIRL 92628/71154 SURAT CALL G
SURAT CALL GIRL 92628/71154 SURAT CALL GNiteshKumar82226
 
Best VIP Call Girl Noida Sector 48 Call Me: 8700611579
Best VIP Call Girl Noida Sector 48 Call Me: 8700611579Best VIP Call Girl Noida Sector 48 Call Me: 8700611579
Best VIP Call Girl Noida Sector 48 Call Me: 8700611579diyaspanoida
 
Low Rate Russian Call Girls In Lajpat Nagar ➡️ 7836950116 Call Girls Service ...
Low Rate Russian Call Girls In Lajpat Nagar ➡️ 7836950116 Call Girls Service ...Low Rate Russian Call Girls In Lajpat Nagar ➡️ 7836950116 Call Girls Service ...
Low Rate Russian Call Girls In Lajpat Nagar ➡️ 7836950116 Call Girls Service ...riyasharma00119
 
NAGPUR CALL GIRL 92628*71154 NAGPUR CALL
NAGPUR CALL GIRL 92628*71154 NAGPUR CALLNAGPUR CALL GIRL 92628*71154 NAGPUR CALL
NAGPUR CALL GIRL 92628*71154 NAGPUR CALLNiteshKumar82226
 
Call Girl Rohini ❤️7065000506 Pooja@ Rohini Call Girls Near Me ❤️♀️@ Sexy Cal...
Call Girl Rohini ❤️7065000506 Pooja@ Rohini Call Girls Near Me ❤️♀️@ Sexy Cal...Call Girl Rohini ❤️7065000506 Pooja@ Rohini Call Girls Near Me ❤️♀️@ Sexy Cal...
Call Girl Rohini ❤️7065000506 Pooja@ Rohini Call Girls Near Me ❤️♀️@ Sexy Cal...Sheetaleventcompany
 
9891550660 Call Girls In Noida Sector 62 Short 1500 Night 6000
9891550660 Call Girls In Noida Sector 62 Short 1500 Night 60009891550660 Call Girls In Noida Sector 62 Short 1500 Night 6000
9891550660 Call Girls In Noida Sector 62 Short 1500 Night 6000teencall080
 
Call US Pooja📞 9892124323 ✅Call Girls In Mira Road ( Mumbai ) secure service...
Call US  Pooja📞 9892124323 ✅Call Girls In Mira Road ( Mumbai ) secure service...Call US  Pooja📞 9892124323 ✅Call Girls In Mira Road ( Mumbai ) secure service...
Call US Pooja📞 9892124323 ✅Call Girls In Mira Road ( Mumbai ) secure service...Pooja Nehwal
 
Call Girls in Majnu ka Tilla Delhi 💯 Call Us 🔝9711014705🔝
Call Girls in Majnu ka Tilla Delhi 💯 Call Us 🔝9711014705🔝Call Girls in Majnu ka Tilla Delhi 💯 Call Us 🔝9711014705🔝
Call Girls in Majnu ka Tilla Delhi 💯 Call Us 🔝9711014705🔝thapagita
 

Recently uploaded (20)

CALL GIRLS 9999288940 women seeking men Locanto No Advance North Goa
CALL GIRLS 9999288940 women seeking men Locanto No Advance North GoaCALL GIRLS 9999288940 women seeking men Locanto No Advance North Goa
CALL GIRLS 9999288940 women seeking men Locanto No Advance North Goa
 
Call Girls | 😏💦 03274100048 | Call Girls Near Me
Call Girls | 😏💦 03274100048 | Call Girls Near MeCall Girls | 😏💦 03274100048 | Call Girls Near Me
Call Girls | 😏💦 03274100048 | Call Girls Near Me
 
MYSORE CALL GIRLS ESCORT SER 92628/71154
MYSORE CALL GIRLS ESCORT SER 92628/71154MYSORE CALL GIRLS ESCORT SER 92628/71154
MYSORE CALL GIRLS ESCORT SER 92628/71154
 
Hot Vip Call Girls Service In Sector 149,9818099198 Young Female Escorts Serv...
Hot Vip Call Girls Service In Sector 149,9818099198 Young Female Escorts Serv...Hot Vip Call Girls Service In Sector 149,9818099198 Young Female Escorts Serv...
Hot Vip Call Girls Service In Sector 149,9818099198 Young Female Escorts Serv...
 
+91-9310611641 Russian Call Girls In New Delhi Independent Russian Call Girls...
+91-9310611641 Russian Call Girls In New Delhi Independent Russian Call Girls...+91-9310611641 Russian Call Girls In New Delhi Independent Russian Call Girls...
+91-9310611641 Russian Call Girls In New Delhi Independent Russian Call Girls...
 
Call Girls In Dwarka Delhi 💯Call Us 🔝9711014705🔝
Call Girls In Dwarka Delhi 💯Call Us 🔝9711014705🔝Call Girls In Dwarka Delhi 💯Call Us 🔝9711014705🔝
Call Girls In Dwarka Delhi 💯Call Us 🔝9711014705🔝
 
VAPI CALL GIRL 92628/71154 VAPI CALL GIR
VAPI CALL GIRL 92628/71154 VAPI CALL GIRVAPI CALL GIRL 92628/71154 VAPI CALL GIR
VAPI CALL GIRL 92628/71154 VAPI CALL GIR
 
Call Girls In Naraina (Delhi) +91-9667422720 Escorts Service
Call Girls In Naraina (Delhi) +91-9667422720 Escorts ServiceCall Girls In Naraina (Delhi) +91-9667422720 Escorts Service
Call Girls In Naraina (Delhi) +91-9667422720 Escorts Service
 
KAKINADA CALL GIRL 92628/71154 KAKINADA C
KAKINADA CALL GIRL 92628/71154 KAKINADA CKAKINADA CALL GIRL 92628/71154 KAKINADA C
KAKINADA CALL GIRL 92628/71154 KAKINADA C
 
Call Girls In {{Laxmi Nagar Delhi}} 9667938988 Indian Russian High Profile Es...
Call Girls In {{Laxmi Nagar Delhi}} 9667938988 Indian Russian High Profile Es...Call Girls In {{Laxmi Nagar Delhi}} 9667938988 Indian Russian High Profile Es...
Call Girls In {{Laxmi Nagar Delhi}} 9667938988 Indian Russian High Profile Es...
 
SURAT CALL GIRL 92628/71154 SURAT CALL G
SURAT CALL GIRL 92628/71154 SURAT CALL GSURAT CALL GIRL 92628/71154 SURAT CALL G
SURAT CALL GIRL 92628/71154 SURAT CALL G
 
Best VIP Call Girl Noida Sector 48 Call Me: 8700611579
Best VIP Call Girl Noida Sector 48 Call Me: 8700611579Best VIP Call Girl Noida Sector 48 Call Me: 8700611579
Best VIP Call Girl Noida Sector 48 Call Me: 8700611579
 
Low Rate Russian Call Girls In Lajpat Nagar ➡️ 7836950116 Call Girls Service ...
Low Rate Russian Call Girls In Lajpat Nagar ➡️ 7836950116 Call Girls Service ...Low Rate Russian Call Girls In Lajpat Nagar ➡️ 7836950116 Call Girls Service ...
Low Rate Russian Call Girls In Lajpat Nagar ➡️ 7836950116 Call Girls Service ...
 
NAGPUR CALL GIRL 92628*71154 NAGPUR CALL
NAGPUR CALL GIRL 92628*71154 NAGPUR CALLNAGPUR CALL GIRL 92628*71154 NAGPUR CALL
NAGPUR CALL GIRL 92628*71154 NAGPUR CALL
 
Call Girl Rohini ❤️7065000506 Pooja@ Rohini Call Girls Near Me ❤️♀️@ Sexy Cal...
Call Girl Rohini ❤️7065000506 Pooja@ Rohini Call Girls Near Me ❤️♀️@ Sexy Cal...Call Girl Rohini ❤️7065000506 Pooja@ Rohini Call Girls Near Me ❤️♀️@ Sexy Cal...
Call Girl Rohini ❤️7065000506 Pooja@ Rohini Call Girls Near Me ❤️♀️@ Sexy Cal...
 
9891550660 Call Girls In Noida Sector 62 Short 1500 Night 6000
9891550660 Call Girls In Noida Sector 62 Short 1500 Night 60009891550660 Call Girls In Noida Sector 62 Short 1500 Night 6000
9891550660 Call Girls In Noida Sector 62 Short 1500 Night 6000
 
Goa Call Girls 🥰 +91 9540619990 📍Service Girls In Goa
Goa Call Girls 🥰 +91 9540619990 📍Service Girls In GoaGoa Call Girls 🥰 +91 9540619990 📍Service Girls In Goa
Goa Call Girls 🥰 +91 9540619990 📍Service Girls In Goa
 
Call US Pooja📞 9892124323 ✅Call Girls In Mira Road ( Mumbai ) secure service...
Call US  Pooja📞 9892124323 ✅Call Girls In Mira Road ( Mumbai ) secure service...Call US  Pooja📞 9892124323 ✅Call Girls In Mira Road ( Mumbai ) secure service...
Call US Pooja📞 9892124323 ✅Call Girls In Mira Road ( Mumbai ) secure service...
 
Call Girls in Majnu ka Tilla Delhi 💯 Call Us 🔝9711014705🔝
Call Girls in Majnu ka Tilla Delhi 💯 Call Us 🔝9711014705🔝Call Girls in Majnu ka Tilla Delhi 💯 Call Us 🔝9711014705🔝
Call Girls in Majnu ka Tilla Delhi 💯 Call Us 🔝9711014705🔝
 
Call Girls In Goa For Fun 9316020077 By Goa Call Girls For Pick Up Night
Call Girls In  Goa  For Fun 9316020077 By  Goa  Call Girls For Pick Up NightCall Girls In  Goa  For Fun 9316020077 By  Goa  Call Girls For Pick Up Night
Call Girls In Goa For Fun 9316020077 By Goa Call Girls For Pick Up Night
 

Dissertation research on the effectiveness of customer relationship management on customer retention and customer acquisition- a case study of tesco plc.

  • 1. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ A Critical Research on the Effectiveness of Customer Relationship Management on Customer retention and customer acquisition: A Case Study of Tesco Plc. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 2. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ ABSTRACT The increased necessity of the Customer Relationship management is well detailed in the present research. The research is also a capsule of the beneficial effects of CRM as well as the impact of CRM on the processes of customer retention as well as the customer acquisition. The researcher has taken the case study of a well established firm, Tesco plc, for the analysis as well as assessment of the above mentioned aspects of relationship marketing. The researcher has also given a sufficient quantity of the literatures which are well related to the present topic. The present dissertation contains well defined seven chapters, which are well arranged. The concepts of the customer satisfaction as well as the customer loyalty are also clearly pictured by the researcher. The present study also reveals the relation of the customer satisfaction as well as the customer retention. The aims and objectives of the research is well attained with the assistance of the perfect analysis of data, that are collected from the managers and customers of the firm, Tesco plc. The researcher also gives certain recommendations which would be of use for the betterment of the conditions of the concerned firm, as well as in the other related firms. Key words: Customer Relationship management, customer retention, customer acquisition, Tesco plc. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 3. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 1. INTRODUCTION 1.1 Introduction The present chapter is the opening chapter which contains a general outline of the different concepts which are going to be discussed in the subsequent chapters. The researcher gives a brief introduction on the aspects of Customer Relationship Management (CRM), the importance of the CRM, Customer Retention and Customer Acquisition as well. The business world of today is experiencing a tough competition, which is getting enhanced day by day, according to Beebe et al (2011). As per the opinions of Annette (2009), the success of any business firm mainly depends upon the customers, which makes it very much necessity for the concerned firm to take measures so as to accomplish the retention of the existing customers as well as to acquire new customers (customer acquisition). The maintenance of the valuable commodity of any firm is purely dependent on as well as well accomplished through the provision of importance and attention on the customer retention and customer acquisition as well, states Duru (2011). The aspects of customer retention as well as the customer acquisition are possible only through the maintenance of the proper relation with the customers and this is dealt in the specialized field of CRM or customer relationship management, says Francis (2012). 1.2 Purpose of the research The main purpose of the study is to make a critical evaluation of customer relationship management as well as to analyse the impact of the customer relationship management on the customer retention and customer acquisition as well. The research also aims to carry out an assessment of the literature works cited by different researchers in the related topic. The researcher has carried out the assessment of CRM and its impacts on the customer retention and customer acquisition by taking the case study of a well reputed firm of the industry, Tesco plc. 1.3 Research Background Today’s business management has pushed marketing from acquisition to retention to customer selection. Moreover Relationship marketing has become a vital part in retention of a small number of profitable customers, says Francis (2012). Today businesses are improving their profitability with the interaction of their existing and potential buyers by the help and support of affective customer relationship Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 4. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ management. The relationship marketing is relationship between company and customers and customers are attracted towards a company; relationships between customer to company are build and maintained. Relationship marketing does not stress jut to attract customer but also keeping them attach with the business. Marketing is directly related to trade relations of the company and its consumers. Customers, service and quality are three main links in organizations to maintain relations. The main task for the company is how to combine all of these links closely, explains Duru (2011). The customer retention and customer acquisition are the two major aspects which have to be given a fine concentration by any business firm for its growth and for the successful establishment as well. 1.4 Rationale of the research For the success and growth of any business firm, the two fundamental aspects which should be handled with care, are the retention of the customers as well as acquisition of the new customers. The present research study gives a critical assessment of the Customer Relationship Management as well as the importance of CRM on the enhancement of the rate of customer retention and customer acquisition as well. The research is mainly focused on the above mentioned aspects of CRM, customer retention and customer acquisition by considering the current scenario of the well reputed firm, Tesco plc. The CRM as well as its impact on the customer retention and customer acquisition are definitely some of the very important topic, whichever industry may be considered, as suggested by Annette (2009). This forms the academic rationale for the present research. The present research would find out the ways of CRM and the effects of CRM on the retention of the customers and the acquisition of new customers. The main merit of the present research is that the outcome of the present research could be the made use in the betterment of the situations prevailing in the other organizations also. 1.5 Background of Tesco The company selected for the present study is a well reputed firm, which is, Tesco plc. This is a multinational grocery firm and the head quarters of this particular firm is located in the United Kingdom. This firm is considered to be the world’s third largest retailer (with respect to the revenues) and also considered to be the world’s second largest retailer (with respect to the profits). The founder of the Tesco Plc is considered to be Jack Cohen and this happened in 1919. According to the results of the survey which was published in April 2012, the Tesco plc is experiencing a tremendous growth and the total numbers of stores possessed by the firm are around 6,351. Tesco plc stands first in the production of many products which include consumer products, Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 5. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ telecoms, clothings, groceries, financial services etc. A number of employees are been placed in the firm and this includes around 520035 employees (www.tescoplc.com) 1.6 Aims of the Research To investigate the impact of CRM on customer retention and customer acquisition by taking a case study of Tesco plc. 1.7 Objectives of the research The objectives of the present research are the following: • To analyze the measures adopted by Tesco in the enhancement of CRM in the firm • To evaluate the competitive advantage using CRM • To assess the impact of customer retention on customer acquisition in Tesco. 1.8 Brief outline of the research The present research study is divided into seven chapters. The first chapter, ‘Introduction’ contains the brief overview of the whole dissertation. The second chapter ‘Review of literature’ contains the literature works cited by many researchers, which are connected with the topic of the present research. The methods which are used for the successful completion of the present research, are described in the third chapter, ‘Research Methodology’. The forth chapter’ ‘Context and profile’ contains the brief summary of the background of the research as well as the company background. The fifth chapter, ‘Primary findings’, contains the representation of the data collected from the required sources. The sixth chapter, which is the discussions of these findings, is the ‘Discussion’ chapter. The final chapter, ‘Conclusions and Recommendations’ involve the conclusions made after the data analysis and the recommendations made out of it. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 6. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 2. REVIEW OF LITERATURE 2.1 Introduction The present chapter mainly explains the literature works which are cited by the other prominent researchers of the related works. The researcher gives a clear description of relevant literatures which are connected to the customer relationship management (CRM), customer retention as well as customer acquisition. 2.2 Overview of Customer Relationship Management (CRM) Nowadays, most of the business firms are giving much significance for the CRM (Customer Relationship Management), and the other aspects linked to CRM, which includes the customer retention, customer acquisition etc. As per the findings of Frank (2011), the long run value of the existing as well as the potential customers, are well understood through the Customer Relationship Management. Raab (2010) also supports by stating that most of the today’s companies have taken the CRM as a topmost priority. They also state that the substantial investment of economy on the CRM, is also done excellently by the management of these firms. 2.2.1 Perspectives of CRM As per the definitions given by Jha (2009), the processes involved in the collection as well as the analysis of the data acquired by a firm on the interactions made with the customers in order to augment the values of the customers to the firm, are collectively termed as the CRM or customer relationship management. The eminent researchers, Maik and Christian (2010) state that the management strategy which involves the collaboration of information technology along with the marketing, is termed to be the CRM. According to Francis (2012), the concept of the Customer Relationship Management originated for the first time in the United States in the late 1990s. This aspect is widely accepted by many companies nowadays. According to the statement given by Huber and Susanne (2010), since the customers are the most important aspects of the growth and development of any firm, the relationship with the customers should be maintained in a proper as well as perfect manner. The supportive statement given by Mauricio and Vincent (2011) includes the fact that the organizational, technological as well as strategic aspects are being highly influenced by the concept of Customer Relationship management. In addition to the influence of CRM on these above mentioned aspects, it also influences the net performance of any concerned firm and these performances include the growth of the company, market Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 7. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ share, as well as the profitability. As per the statement put forward by Beebe et al (2011), the implementation of CRM requires the perfect collaboration of people, operations, and marketing capabilities through the information technology as well as its applications. But the eminent researcher Prakash (2011) argues that the successful implementation of the Customer Relationship Management definitely requires the changes in the organizational structures along with the provision of motivation to the employees to make the proper use of the CRM. 2.2.2 Origins in relationship marketing The findings of Puneet (2011) clearly describe the basis of the origin of the CRM and according to the researchers, the relationship marking could be considered as the important fundamentals of the CRM. The activities which are responsible for the maintenance and enhancement of the relationships with the customers, are collectively termed to be the CRM, says another researcher Frank (2011). The prominent researcher Annette (2009) also argues for the significance of the CRM in the today’s business. He has also given a new refined definition for the CRM and describes the CRM to be the maintenance and enhancement of the relationships with the customers in such a way that the objectives are clearly met, which is very well achieved through a mutual exchange as well as fulfillment of the promises. 2.2.3 Workflow of CRM The workflow of CRM has been explained by many researchers in their works. According to Rene (2010), the workflow of CRM mainly includes the basic procedures which are carried out in the customer relationship management. He also states that the collection of customer data would be the very first step of the CRM, which is succeeded by the analysis of data to predict the customer behavior. The next step involves the marketing campaigns which are based on the analysis of data. The subsequent step involves the measurement of results, revision of hypotheses as well as the repetition of process of workflow. 2.2.4 Goals of CRM A number of researchers, who have been working with the CRM, have mentioned the goals of CRM. One such prominent researcher, Duru (2011), clarifies through his work that, main goal of the implementation of CRM is the reduction in the cost of recruitment of the customers. However, higher customer profitability as well as reduced cost of sales, are considered to be the main goals of CRM, say Roger et al (2011). On the other hand, other researchers Sharma and Goyal (2012) makes it clear that the main goals of CRM are the improved customer retention as well as customer acquisition. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 8. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ The two major activities involved in the marketing operations would be retention as well as acquisition of the customers, says Timothy (2011). As per the supportive statement provided by Ryals (2011), the customer acquisition is more linked to the mass and target marketing, on the other hand the customer retention is linked to the relationship marketing. According to the opinions of one of the well known researcher, Mukerjee (2010) the customer acquisition is a much more complicated process when compared to the customer retention as the attainment of the business from a new customer requires five to six times more effort than the attainment of the business from the existing customers. 2.3 Customer Acquisition through CRM As evidenced from the works of the eminent researcher Beebe et al (2011), the implementation of the customer relationship management is very much important for the accomplishment of the customer acquisition. Duru (2011) also supports the above statement by stating that the acquisition of the new customers, is only possible through the proper as well as perfect implementation of the relations which are supposed to be made with the customers, as these are the assets of any business firm. As per the opinions of Julian (2011), the process in which new customers get attracted towards any firm, could be considered as the customer acquisition. According to the words of Michael (2011), the obtaining of more numbers as well as profitable customers would be the most important goals of the customer acquisition. This is well exemplified by giving the example of the targeting of the customers for insurance, if they are new home buyers. This is considered to be the first step in the construction of the customer base, says Bragg (2010). However Frank (2011) argues that most of the companies are still unaware of the appropriate criteria for the screening of the profitable new customers and their selection criteria would also select the non profitable new customers also, which degrade the growth of the concerned company, in fact. This would also make the acquisition of the customers, a very risky as well as costly process because of the failure of the customers to represent the value proposition of the concerned firm. As per the opinions put forward by Duru (2011) on the acquisition of the customers, if the expected value of the attaining customers is more than the total costs, the customer acquisition could be considered as a profitable process. But, there is also another statement put forward by the same researcher that the forecasts of these likely responses are purely based on the past responses. He also states that the significant advancements in this area, are very much possible through the deeper and detailed analysis of the probabilistic thresholds. In this context, the concept of ‘fit’ is very much Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 9. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ important. According to the conclusions made by the researchers Roger et al (2010), the fit simply refers to the nature of the relationship maintained with the customers. They also very well explain the necessity of the accomplishment of the appropriate relationship as the customers may have different perceptions and different satisfaction thresholds. This difference also influences their probabilities of repurchases. Francis (2012) also very well supports the above mentioned fact by stating that the customer acquisition highly increases the diversity in the customer portfolio, thus markedly enhancing the risks in the processes of business in the concerned firm. Frank (2011) clarifies that because of the much significance of the customer acquisition, the concept also needs a lot of attention and focus. This is because the lack of focus on the customer acquisition would lead to the adverse situations where the customers who are less profitable are also likely to be selected through the processes of screening. As per the statements of Annette (2009) this is more applicable to the credit companies, as these are in need to verify the suitability of every respondent. The solution for the current issues, as suggested by Julian (2011) includes the selection of the customers using the data that is already stored in the database which enables the screening of the respondents who are more likely to respond and profitable as well. As per the opinions of Bragg (2010), a number of array of channels (and these channels include television, radio, internets etc) have been identified and discussed by many researchers for which the customer acquisition occurs, and the researchers have started to concentrate and focus more on the assessment of the efficacies of the acquisition strategies of these channels and their potential impacts on the subsequent behaviors. Blanchard et al (2011) also gives a prominent example of the less loyalty exhibited by the customers which are acquired through these channels with an emphasis on the price. Many researchers have introduced different types of classic behavioral models of consumer adoption which would be beneficial in the comprehension of the impacts of multi-channel strategies of acquisition, since the features of the channels may vary with each other, says Frank (2011). They also opine that if the better information search is provided by one channel, better service would be provided by some other channel. The statement given by Mukerjee (2010) includes the fact of the necessity and vitality of the interaction between these channels if a multi-channel environment is considered for the study. 2.4 Customer Retention through CRM This is another aspect which could be accomplished through the maintenance of the relationship with the customers of any firm, says Raab (2010). As per the findings put Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 10. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ forward by the researcher Francis (2012), through his works, the retention of the customers also demands a well planned and accomplishment of the customer relationship management. When compared to the customer acquisition, the process of customer retention is a much simple process which does not require much efforts as well as complications. As per the findings of Jha (2009) made through their studies, the customer retention is very much cheaper as well as easier than the phenomenon of customer acquisition, even though the optimal mix of the marketing strategies may differ from one business model to another business model. The supportive opinion given by Bragg (2010) states that, the retention of customers becomes an easier process, in the stable markets having less growth rate. According to Maik and Christian (2010) well planning is sufficient to accomplish the customer retention. The statement put forward by Frank (2011) includes the instability of the business firms due to the lack of the effective customer relationship management. As per the opinions of Huber and Susanne (2010), the customer retention is of much significance as the profitability of a firm is greatly influenced by the retention of the customers. The researchers Mauricio and Vincent (2011) also supports the above mentioned statement by stating that the firm value of any firm could be increased by 5% through the 1% increment in the customer retention of the specified firm. The issues of the customer retention occurs when the customers develop a tendency to cease or quit the relation (referred to as churn) with the business firm they possess now, says Prakash (2011), which would definitely results in the decreased business of the concerned firm. This has urged the marketers to provide more focus on the phenomenon of customer retention, says Bragg (2010). This is in accordance with the statements given by Puneet (2011) who state that the customer retention is a key element which plays a significant role in the growth and successful development of the business firms. However, according to the researchers Roger et al (2010), the assessment of the elements leading to the churns of the customers as well as the evaluation of the customers who are on the verge of the defection, would be the two fundamental processes involved in the customer retention. Annette (2009) also supports and states that the understanding of these drivers of defection would enable the firms to design and implement the appropriate strategies which would be fruitful in the reduction of the customer defection as well as in the enhancement of the customer loyalty, through which the customer retention is highly possible. 2.4.1 Improvements in the implementation of customer retention The recent studies have suggested the influence of the channels on the rate of the retention of the customers, says Julian (2011). A prominent example is given by Beebe Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 11. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ et al (2011) through their study, where they point out the driving of the e-mails to purchase through online and according to the results of these study, the assumption that the prices and costs are less mainly directs the customers to purchase through the internets, through which there is no chance of development of customer loyalty, hence no point of customer retention. However, the results of the study carried out by Frank (2011) reveals the fact that the costs of the online purchases, are more than the actual prices, because of the shipping costs and other associated costs, says Duru (2011). Much focus also has been given by a number of researchers on the mechanisms adopted by the firms for the reduction of the churns caused due to the customer defection, clarifies Francis (2012). As per the explanations given by Rene (2010), almost every firm takes care of the reduction of the churns through three ways, which are, the improvement of service quality, targeting of the interventions of so as to prevent the churns, and the increment of the customer loyalty programs. As per the opinions of Sharma and Goyal (2012), the assumption of the firm that the customer satisfaction would results in the customer retention urges the firm to invest on the improvement of the quality as well as the standard of the customer service. The findings of Simon et al (2012) are in accordance with the positive impact of the customer service on the retention of the customers. However, according to the statement given by Timothy (2011), certain customers have also given an argument for the above statement and according to these researchers, the characteristics of the customers are the most determining elements of the customer retention, than the improvement in the quality of the customer service. 2.5 Conclusion The present chapter is a pool of the literature works which are already performed and concluded by the other researchers. With the aid of these literatures, the researcher has tried to present an overview of the customer relationship management and its importance, customer acquisition and customer retention as well. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 12. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 3. RESEARCH METHODOLOGY 3.1 Introduction The methodologies of the research play a significant role in the completion of any research, according to Jan and Collin (2010). The different types of methodologies which are used for the performance of the present research work are discussed in detail by the researcher through the present chapter. 3.2 Research Philosophy The processes involved in the acquisition of data which is required for the study, is mainly dealt in the research philosophy, says Ranjit (2010). The apt selection of the research methodology for any research work mainly depends upon the research philosophy. The research philosophy is broadly classified into three major classes, which are positivism, interpretivism as well as realism. As per the findings of Bryman (2010), the nature of the research mainly determines the class of the research philosophy. Positivism: The quantitative methods which are very much vital for the collection of the data to meet the objectives of the research, are mainly explained through the research philosophy of positivism, says Gibbons (2008). As per the statement given by Sean (2006), the positivism deals with the logical facts as well as scientific thinking. This is more close to the reality. The scientific thinking is the fundamentals for the assessment of the compiled data. Realism: This is another approach of research philosophy, through which the assessment of the collected data is possible, says Dawson (2009). The long lasting information is mainly acquired through the implementation of the realism. This facilitates the acquisition of the perceptions of the individuals. The personal concepts of every individual, are given significance through this research philosophy, say Gravetter and Forzano (2011). Interpretivism: According to Girogio et al (2010), the behavioral aspects of the people who are related to the study, are dealt through the interpretivism. This research philosophy clearly allows the maximum communication with maximum number of people. Justification Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 13. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ Since the realism very well assures the provision of long lasting information on the topic, this research philosophy is made use by the researcher in the present research work. The concept of realism clearly explains the facts which have a methodological basis. This is mainly preferred over the other two research philosophies because it explains the analytical basis rather than giving mere views and concepts. 3.3 Research Design Research design is referred as providing answers to the questions such as how, when, what the research going to be conducted and analysed (Anderson, 2010). There are two classification of research design, as identified by Saunders et.al (2009) they are qualitative and quantitative methods. In order to collect primary data the researcher has selected qualitative as well as quantitative research design from the employees of Tesco by using questionnaires and interview method. Therefore, collected data will be in numerical and textual format. According to Saunders et.al (2009) quantitative research methods data are utilized in arithmetical format and in order to reach conclusion quantitative pattern is followed. The data collected from questionnaire survey will be in numerical structure and this will be converted to word structure 3.4 Research Approach The objectives of any study are also understood through the techniques of the research approach, says Jan and Collin (2010). This approach allows the clearer as well as better understanding of the objectives and purpose of the research. The two types of research approach are explained below: Inductive approach: According to the statement given by Gibbons (2008), the development of the theories from the existing findings as well as hypotheses is mainly explained through the inductive approach. This research approach would help in the acquirement of more reliability to the acquired data. This inductive approach makes use of the qualitative data. Deductive approach: The deductive approach includes the explanation of the developed theories, says Peter (2009). In cases of scientific research, this would be the most suitable research Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 14. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ approach. According to Bonnie and Donna (2011), quantitative data is made used in this kind of research approach. Justification The deductive approach is applied for the present study by the researcher as more reliability is assured by this type of research approach. This is the approach which would result in the attainment of valuable data as well as more suitable findings. The theories which are developed by the other researchers are explained in the present study, thereby meeting the objectives of the study. This focus on the findings of the other researchers, would assure the attainment of more reliable as well as valid data. 3.5 Research Strategy The research strategy deals with the methods which are crucial for the answering of the research problems which are already raised in the first portion of the dissertation. The views which are responsible for the raising of these research questions, are explained through the research strategy, say Chris et al (2009). The different types of research strategy have been developed by the eminent researchers and the two most important research strategies are discussed below: Survey strategy: The survey strategy of any research is mainly associated with the deductive approach. A definite set of individuals are kept as the prime strategy, which forms as a source of the required data. The data collected through the survey strategy could be expanded to only limited areas, which forms the demerit of the survey strategy. Case study strategy: The maximum evidences related to the topic of the study are made use to analyze the current happenings, in the research strategy of case study. The assessment of a particular aspect is done through the comparison with the realities and this is in turn influenced by a number of determining factors. Justification Both the survey analysis as well as the case study analysis, are done by the researcher in the present research. The present study involves the collection of data from the employees of the Tesco as well as from the customers approaching Tesco. The data was collected from the managers of the firm through the case study method, while the customers were subjected to the analysis of survey for the collection of the relevant data. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 15. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 3.6 Data Collection Method The method by which the data required for the study, is generally referred to as the data collection method. The two types of data are the primary data as well as the secondary data. The data collection is also one of the prominent steps in the research methodology, which determines the success of the research. Primary data collection: The data which is collected for the first time is termed to be the primary data, according to the researchers, Bonnie and Donna (2011). More clarity as well as idea is provided by the primary data. The freshness of the data is also assured, since this is the data which is gathered for the first time. The approaches like surveys, interviews etc are made use to gather the primary data. Secondary data collection: The data which is collected by the other researchers and made use in the present research, is termed to be the secondary data, clarifies Dawson (2009). The freshness of the data would be less. A number of sources provide the secondary data required for a study which includes the books, internet, articles etc. Justification: The researcher mainly uses the primary data, which is collected from the managers as well as the customers of Tesco. This is because more valid as well as reliable data is assured through the primary data collection, since this data is collected directly from the individuals who are related to the study. The secondary data is also made use which is applied from the literature reviews cited in the present dissertation. 3.7 Sampling Techniques According to the researchers Lohr et al (2009), the methods of selection of the samples required for the study are performed through the implementation of the sampling techniques. The two prominent types of sampling techniques are the probability sampling techniques as well as non probability sampling techniques. Probability sampling: As per the explanations given by Lohr (2009), the sampling technique which provides every individual, an equal chance of being selected, is known as the probability sampling technique. The random as well as stratified samplings are the prominent features of the probability sampling. This mode assures the minimization of the biases which are likely to develop during the sampling. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 16. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ Non-probability sampling: In this type of sampling technique, the chances of selection as the samples, are restricted to a group of people who act as the sources of the relevant data which is much important for the successful completion of the study. Since the data is collected from a group of individuals, the generalized opinions of the entire population are not be able to be collected through this method. Justification The researcher makes the application of probability sampling in the present research work. This is mainly preferred because the probability sampling ensures the equal chances of the individuals being selected as the samples for the study. This in turn improvises the chances of getting generalized opinions of the entire population. 3.8 Reliability of the Research The reliability of the research is linked to the quality of the research, according to Creswell (2009). A research study is considered to be reliable, if the conclusions obtained by the researcher at the end of the study, are in accordance with the aims and objectives of the research work. The genuine nature of the final conclusions should also be preserved so as to consider the research work, to be a reliable one. The results should also be reproduced if any other researcher carries out a study which is resulted to the present study. 3.9 Validity of the Research The suggestions made by the researcher, Anderson (2009) reveal the fact that the validity of any research study is decided by the extent of the attainment of the aims and objectives of the research through the study. The results produced should be more accurate as well as valid, says Creswell (2009). The validity of any research could be classified into two types, which are the internal validity as well as the external validity. 3.10 Ethical issues The research could be considered as a perfect research if it follows the ethics of the research. The researcher should follow a definite set of terms and regulations while performing the research. The privacy of the respondents should be well maintained by the researcher, and the researcher of the present study has strictly maintained the privacy of the individuals who have provided the relevant information for the completion of the research work. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 17. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 3.11 Conclusion The present chapter of the dissertation gives a clear description of the different techniques which are employed to acquire the relevant data for the successful completion of the research study. The researcher has also given the justifications for the selection of each technique. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 18. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 4. CONTEXT This chapter gives a general outline of the details of the company which is selected for the present research work. The summarized form of the background of the research is also given through the present chapter of the dissertation. In the modern days of increased competition in every field, it is very much essential for all the business firms of every industry, to design and implement the appropriate and necessary strategies, so as to overcome the tough competition and to emerge successfully, says Frank (2011). The first and foremost strategy that could be utilized by almost every firms, irrespective of the industry, would be the proper maintenance of the relation with the customers, and this is accomplished through the Customer Relationship Management, according to Francis (2012). The accomplishment of the CRM would ultimately results in the retention of the customers and the acquisition of customers as well. Nowadays, almost every company is investing much on the customer satisfaction as well as customer loyalty, by assuming that both of these aspects result in the customer retention and customer acquisition. It is also proved that the customer loyalty forms the major basis for the customer retention and customer acquisition (though many controversies which state the no effects of the customer loyalty and customer satisfaction on the retention and acquisition of the customers, have been developed by a number of prominent researchers), clarifies Duru (2011). The reputed firm, Tesco Plc, is taken as the case study for the study of the beneficial effects of CRM and its positive influence on the retention of the existing customers and the acquisition of the new customers. The firm was founded by Jack Cohen in 1919 and now the firm has spread its branches in almost all locations across the globe. The firm could be considered as one of the topmost retailers among the other firms, worldwide. The firm which stands in the topmost position among the firms across the globe, is using the strategy of the well maintenance of the CRM. The management of the firm has adopted the strategy of Customer Relationship Management through the customer satisfaction by introducing the concept of customer loyalty. The management of the firm also achieves the aims of the company, which are the customer retention as well as customer acquisition. The firm is concentrating more on the investments on the customer satisfaction through the introduction of customer loyalty programs, which ultimately enhances the rate of the customer retention and customer acquisition as well (www.tesco.com). Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 19. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 5. PRIMARY FINDINGS 5.1 Introduction The researcher was able to accumulate data which are related to the objectives and aims of the study. The data which was necessary for the completion of the study, was obtained from both the managers of the firm, Tesco as well as from the customers approaching the firm. The researcher collected the data from the managers by interviewing them and the survey analysis was made use by the researcher to collect the required data from the customers. 5.2 Analysis of the data from the managers of the firm The researcher first collected the necessary information from the employees of the firm, Tesco, who held managerial positions in the firm. The managers were selected as the samples for the collection of data for the study, because they would be the staffs who must be involved with the adoption of techniques as well as strategies which would be vital for the enhancement of the CRM, thereby leading to the customer retention as well as the customer acquisition. The data was collected from the three managers of Tesco, through the interview. The interview is well discussed below: Q1) How do you assess the customer retention programs employed by the firm? In order to have an understanding of the excellence of the customer retention programs initiated by the firm, the researcher asked this question to the interviewed managers. According to all of them, the firm takes much effort in the employment of the best programs for the accomplishment of the customer retention. The first manager opined that the customer satisfaction is the basis for the process of customer retention. Thus for the accomplishment of the customer retention, every firm should concentrate on the procedures which would augment the customer satisfaction. He also added that the Tesco takes much effort in the customer retention through the technique of customer satisfaction. The discount programs were one of the steps initiated by the firm, according to him. The second manager stated that the introduction of swipe cards (which when used during the purchases would avail the discounts or offers) was one of the most important strategies adopted by the firm. However, according to the third manager, most of the customer retention was mainly through the introduction of the loyalty programs where the customers are given points, which could redeemed during the next purchases that could be exchanged with the gifts or any other special item. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 20. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ Q2) How does the involvement of technology plays a role in the betterment of the customer relation management as well as the customer acquisition? According to the data furnished by the all of the three managers, the researcher was able to understand that the technology also plays a very vital role in the augmentation of the customer relation management. They all stated that the firm, Tesco, is giving much importance for the introduction of the technologies in the firm. They also added that software has been launched by the firm in order to collect the relevant details of the customers who purchase from the firm. These data would help the employees of the firm to deal well with the regular customers of the firm. The third manager also added that the customer service could be easily enhanced through this tactic which leads to the customer satisfaction. Once the customer satisfaction is achieved, the firm could easily accomplish the customer retention. The customer retention would ultimately leads to the customer acquisition, state all the managers of the firm. Q3) How does the customer retention is linked to the total profitability of the firm? When the managers were asked this question, all the interviewed managers, doubtlessly stated that the net profitability could be easily enhanced through the accomplishment of customer retention as well as customer acquisition. The customers are the main sources of income of the firm, thus of they are kept satisfied as well as content, this would definitely augment the profits and gains of the firm. The second managers also added that the satisfied customers would recommend the firm to others also, thereby increasing the fame as well as profits of the firm. Q4) Does the firm supports the CRM and customer retention programs? The researcher was able to obtain different opinions from the interviewed managers. The first manager strongly believed that the firm takes many measures in the provision of CRM as well as customer retention programs. These include the provision of training and awareness programs which aid in making the employees understand the necessity of the CRM and customer retention as well. The customer retention, would definitely leads to the customer acquisition. But, according to the second and third managers, the support provided by the firm is not much satisfactory and improvements should be there so as to enhance the CRM and customer retention as well. Q5) Does the firm actively presents itself on the internet? To have an idea on the marketing as well as advertisement strategies adopted by the firm (which would facilitate the customer retention as well as customer acquisition), the researcher included the present question. The researcher was able to achieve the same opinion from three of the managers. According to the managers, the firm believed the Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 21. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ advertisement through the words of the satisfied and loyal customers, rather than the advertisements through the social media or any other mass media. 5.3 Analysis of the data from the customers The researcher was able to gather the relevant information from the customers also using a questionnaire which contains a definite set of well planned and designed queries which are very much related to the customer acquisition and customer retention. The selection of 25 customers for the purpose of survey analysis, was random. The analysis of the data which was collected through the survey analysis using the questionnaire is well discussed below: Q1) Does the firm succeed in meeting your expectations? The researcher used the specific question in order to understand to what extent the firm was successful in meeting the expectations of the customers. The different responses given by the customers are collected by the researcher and are depicted in the figure given below: Expectations met by the firm? 80% 15% 5% Yes No response No Fig1: As created by the author in October 2012 The figure clearly explains the responses obtained by the researcher when he asked if the firm was able to meet the expectations of the customers. From the graph, it is well understood that majority of the customers felt that the firm was very much successful in meeting the expectations of the customers. This majority was around 80% of the total customers approaching the firm. But, a negative response was produced by around 20% of the surveyed customers. They were not satisfied with the measures taken by the firm so as to meet the expectations of the customers. However, the remaining 5% did not give out any response. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 22. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ Q2) How do you assess the approach of the employees of the firm, towards you? To have an idea of the initiative steps taken by the management of the firm in providing a friendly as well as comfortable environment, the researcher surveyed the customers using this question also. The following figure clearly explains the responses given by the surveyed customers with respect to the particular question. Excellent Satisfactory Poor 40 20 40 0 10 20 30 40 Approach of the employees of the firm Excellent Satisfactory Poor Fig 2: As created by the author in October 11, 2012 The figure clearly illustrates that a mixed response was expressed by the customers who were surveyed by the researcher. Out of the total customers, 40% of them expressed that the approaches of the employees of Tesco towards the customers were excellent as well as very much appealing, while the same percentage of the customers (around 40%) opined that the approaches of the staffs of the firm were very poor and need to be improved. However, just satisfactory opinion was expressed by the remaining 20% of the total number of surveyed customers. Q3) Among the given options of Quality of products, Variety of products, approaches of the employees, which one appeals you the most? This was asked by the researcher in order to know the perceptions of the customers regarding the strategies of the firm. Through this particular survey analysis, the researcher was able to understand the most preferred strategy by the customers of the firm. The various responses expressed by these surveyed customers are compiled and shown in the given below figure Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 23. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ Most preferred tactic 50% 40% 10% Quality Variety Appraoches of the employees Fig3: As created by the author in October, 2012 From the diagram shown above, it is could be seen that the exact half of the total number of the surveyed customers of Tesco was very much attracted to the firm because of the quality of the products which they were able to get from the firm. The variety of the available products in the firm, was the most preferred tactic by around 40% of the total customers. However, only a less percentage of the customers was attracted to the firm through the approaches of the employees of the firm and this percentage was around just 10%. Q4) How do you come to know about this firm? This was included in the questionnaire by the researcher, so as to have an idea of the advertisement strategies adopted by the firm, Tesco. The customers of the firm, responded in a very different manner for this question, according to the perceptions. These diverse opinions are gathered by the researcher and clearly shown in the diagram which is given below: Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 24. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ How do you know about the firm? 45% 40% 15% Through the other customers Through the social media Through the mass media Fig 4: As created by the author in October 2012 The presence of the firms in the advertisements was able to be understood by the researcher through the inclusion of this particular question in the questionnaire. He has also included three options which were, awareness through the customers, through the social media as well as through the other mass media including TV, Radio, newspapers etc. As per the data given in the figure, 45% of the customers came to know about the firm through the word-of-mouth of the other experienced customers. The percentage of 40% was constituted by the customers who came to know about the firm through the social media including the advertisements given in the facebook, internets etc. The remaining 15% of the customers opined that the mass media acted as a source of information about the firm, for them. Q5) Do you prefer Tesco over the others? This question was asked to the customers to know if they were loyal towards the firm. The respondents, according to their views and perceptions responded to this question, in a different manner. The figure which is given below is a compilation of these diverse opinions given by the surveyed customers. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 25. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ Yes No No response 40 40 20 0 5 10 15 20 25 30 35 40 Do you prefer Tesco over the other firms? Yes No No response Fig 5: As created by the author in October 2012 The graph clearly apparently states that the numbers of respondents who gave a positive as well as negative expression, are the same. Around 40% of the total surveyed customers opined that they would prefer the present firm, Tesco, over the other firms of the industry. The other 40% of the customers, though in a bit confusion, clearly expressed their dislike towards the firm and they said that they would not prefer Tesco over the other firms. However, the remaining 20% remained silent and did not express any opinion. Q6) Would you recommend this firm to others? The extent of customer acquisition was understood by the researcher through the inclusion of the present question. The responses of the surveyed customers are detailed in the diagram which is shown below: Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 26. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ Would you recommend the firm to others? 70% 30% Yes No Fig 6: As created by the author in October 2012 The data shown in the above diagram clearly shows the responses of the customers when they were surveyed with the question of their intention to recommend the Tesco, to the other known people. The majority of the surveyed customers, which included around 70% opined that they would definitely recommend the firm Tesco, to all the people they know. At the same time a negative response was obtained from the remaining 30% of the total number of customers who were subjected to the survey analysis by the researcher. 5.4 Conclusion The present chapter of the dissertation gives a detailed picture of the analysis of data which was collected from the managers of the Tesco, as well as the customers of Tesco, through the interview and survey analysis respectively. The impact of the customer relation management on the customer retention as well as customer acquisition was studied through the chapter. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 27. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 6. DISCUSSIONS The present chapter clearly deals with the discussions of the findings which are collected by the researcher, through the interview of the managers as well as the survey analysis of the customers of the selected firm, Tesco plc. The discussions have been made in a most perfect manner by the researcher in such a way that the discussions are clearly done in accordance with the aims and objectives of the research study. The review of literatures which are cited by the other different authors are also well analyzed by the researcher to arrive in a conclusion. The researcher has combined the primary data collected from the managers and customers and the secondary information obtained through the literature reviews, to arrive in a conclusion which agrees with the aims and objectives of the study. The researcher states that the customer relationship management has a beneficial impact on the retention of the existing customers and the acquisition of the new customers as well. This is in agreement with the results produced through the study performed by Frank (2011). The researcher also states that the customer relations could be improved through the customer satisfaction. The customer satisfaction could be accomplished through the introduction of customer loyalty programs. These findings are in connection with the findings of Duru (2011) who also supports the improvement of the customer satisfaction through the customer loyalty programs. The findings of the researcher of the present study reveal the techniques employed by the firm for the improvement of the customer loyalty through the customer satisfaction. Several techniques including the introduction of customer loyalty programs, discount cards etc have been made applied by the management of the firm, Tesco plc. The firm has also been interested in the application of the advanced information technology, so as to keep a record on the details of the customers. This allows the provision of the well treatment of the customers by the employees of the firm, which results in the improved customer satisfaction. This finding is a support for the findings of Prakash (2011) who very well clarifies the improvement of the customer satisfaction using the advanced IT application. The training and development programs implemented by the management of the firm, Tesco plc, reveal the importance of these programs on the customer satisfaction. The CRM also results in the profitability of the firm, through the customer satisfaction. This also agrees with the conclusions made by the researchers, Roger et al (2010), who Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 28. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ state that the customers are the major sources of income of any firm and it is very much important for the firm to take care of the necessities and requirements of the customers approaching the firm. The customer retention ultimately results in the acquisition of the new customers, as suggested by Bragg (2010). The customers who are satisfied with the strategies employed by the management of the firm, Tesco plc, act as the agents for the promotion of the concerned firm, which results in the attraction of new customers, by which the accomplishment of the customer acquisition is very much possible. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 29. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 7. CONCLUSIONS AND RECOMMENDATIONS 7.1 Introduction The present chapter gives a highlight on the general conclusions made by the researcher after an assessment of the data collected from the managers as well as the customers of Tesco. Through the present chapter of the dissertation, the researcher also tries to explain how the aims and objectives of the current research are met in an effective manner. These are well discussed in the subsequent paragraphs. 7.2 Aim of the research The aim of the research is to investigate the impact of CRM on customer retention and customer acquisition by taking a case study of Tesco plc. 7.3 Achievement of the objectives Objective 1: To analyze the measures adopted by Tesco in the enhancement of CRM in the firm The researcher collected the relevant data so as to have an idea on the necessary steps and measures which might help in the enhancement of the Customer Relation management in the firm, Tesco. The researcher was able to understand from the words of the managers who were interviewed for the achievement of the objectives of the study. The managers stated that the customer satisfaction was the fundamentals for the accomplishment of the customer retention as well as the customer acquisition in the firm. The customer relation management in the firm is generally augmented in the firm, through the adoption of retention programs like discount programs, swipe cards, customer loyalty programs etc. The usage of the advanced information Technology by the firm, was also observed by the researcher and he states that the Tesco keeps the record of the customers with an advanced software which enables the strategy of personalization through which the regular customers are given more preference. Though not in a satisfactory mode, the managers also opined that the firm also makes aware of the employees of the importance of the customer relationship management, through the provision of training as well as awareness programs. The employees are also trained to behave well with the customers so as to impress them and to develop a sense of customer loyalty. Objective 2: To evaluate the competitive advantage using CRM Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 30. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ The researcher of the present study was able to conclude that the CRM also acts an added advantage in the cases of competition with the other opponents of the industry. If the firm is capable of managing proper and perfect relationship with the customers, it would helps the development of customer loyalty. The loyal customers are easily retained by the firm. It was also understood from the words of the researcher that the customers are the major sources of income for the firm, thus increased customer satisfaction would definitely increase the net profits and gains of the firm through customer retention. The customers thus retained would also act as the ambassadors of the firm, through which customer acquisition is very much possible for the firm. The firm, Tesco, has been always keen in the introduction of a variety of quality as well as standard products so as to satisfy the customers and to retain them. Objective 3: To assess the impact of customer retention on customer acquisition in Tesco. It is very well understood by the researcher, from the opinions of the interviewed managers of Tesco, as well as the surveyed customers of Tesco, that the CRM has a direct influence on the customer retention. From the opinions of these managers and customers, the researcher was able to conclude the necessity and vitality of the customer retention on the acquisition of new customers. From the survey conducted by the researcher, he was able to understand that only satisfied customers develop customer loyalty for the firm and only these customers are retained by the firm. The retained customers not only give preference to the firm over the other firms of the industry, but also recommend the Tesco to the people whom they interact with. This ultimately results in the attraction of these new customers towards Tesco and thus the customer acquisition is clearly accomplished. 7.4 Recommendations The recommendations given by the researcher are compiled and listed out below: a) Improvement in the approach of the employees: The firm has applied the strategy of personalization for the better treatment of the regular customers of the firm, Tesco. This has created a good opinion among the regular customers, on the other hand, a feel of dissatisfaction was developed in the minds of the customers who do not visit the firm often. So, it would be better if the non regular customers are also treated and entertained in an excellent way which also compels them to be the regular customers of the Tesco. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 31. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ b) More support from the management of the firm: It could be clearly seen that the support given by the management of the firm is not much satisfactory. Thus, the researcher also suggests that the scenario would be better if more active programs are launched by the management of the firm which would assist in the awareness of the employees about the importance of the CRM, thus resulting in the customer retention as well as customer acquisition. c) Improvement in the customer loyalty: Because of the carelessness of the management as well as the employees of the firm, the customer loyalty of the customers approaching Tesco is not satisfactory. So, according to the researcher, it is high time for the management of the firm to take the necessary steps so as to enhance the customer loyalty. 7.5 Conclusion This is the final chapter of the dissertation which gives a clear summary of the data obtained by the researcher through the interview of the managers as well as the survey analysis of the customers, of the firm Tesco. The study could also be considered as a valid and reliable study since the aims and objectives of the study are thoroughly met by the researcher in a very lucid manner. Through the present chapter, the researcher is also successful in proving the relationship between the customer relation management, customer retention as well as customer acquisition. The researcher also has given some necessary recommendations which would be helpful in the betterment of the scenario of the firm, Tesco. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 32. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ REFERENCES BOOK REFERENCES 1. Annette Margaret O'Connell (2009), “Customer Retention and Leadership in the Nonprofit Healthcare Organization”, ProQuest. 2. Beebe S A, Mottet T P and Roach K D (2011), “Training and development: enhancing communication and leadership skills”, Allyn and Bacon. 3. Blanchard, P.N., Thacker, J.W., & Way, S.A. (2011). Training evaluation: Perspectives and evidence from Canada. Indian Journal of Industrial Relations, 33(3), 295-304 4. Chika Ebenezer Duru (2011), “The Impact of Leadership Roles in Relation to Customer Retention”, 5th Edition, ProQuest. 5. Francis Buttle (2012), “Customer Relationship Management”, Routledge. 6. Frank Kojo Kuranchie (2011), “Customer Retention and Relationship Management”, Lambert Academic Publishing. 7. Gerhard Raab (2010), “Customer Relationship Management: A Global Perspective”, Gower Publishing, Ltd. 8. Lakshman Jha (2009), “Customer Relationship Management: A Strategic Approach”, Global India Publications. 9. Maik Prebler and Christian Einicke (2010), “Customer Retention as a Part of Customer Relationship Management of Private Broadcasting Radio Stations”, GRIN Verlag. 10. Margit Huber, Susanne O'Gorman (2010), “From Customer Retention to a Holistic Stakeholder Management System: Living a Vision”, Springer. 11. Mauricio Mittelman, Vincent Onyemah (2011), “Customer relationship management: strategies and company-wide implementation”, Marketing Science Institute. 12. Nedunuri Rama Mohan Prakash (2011), “Customer Relationship Management”, Lambert Academic Publishing. 13. Puneet Mehta (2011), “MANAGEMENT CONSULTING IN PRACTICE: Efficient Ways of Performing Business Tasks”, Global India Publications. 14. Rene J. Trasorras (2010), “The Relationship of Value, Satisfaction and Loyalty on Customer Retention in the Professional Service Sector”, ProQuest. 15. Roger Joseph Baran, Roger J. Galka and Daniel P. Strunk (2010), “ Principles of Customer Relationship Management”, Cengage Learning. 16. Sarika Sharma and D P Goyal (2012), “Customer Relationship Management”, LAP Lambert Acad. Publ. Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 33. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ 17. Simon Knox, Adrian Payne, Lynette Ryals, Stan Maklan and Joe Peppard (2012), “Customer Relationship Management”, Routledge. 18. Timothy F. Bednarz (2011), “Strengthening Customer Retention: Pinpoint Sales Skill Development Training Series”, Majorium Business Press. 19. Lynette Ryals (2010), “Managing Customers Profitably”, John Wiley & Sons. 20. Kaushik Mukerjee (2010), “Customers Relationship Management: A Strategic Approach To Marketing”, PHI Learning Pvt. Ltd. 21. Julian Villanueva (2011), “Acquisition channels and price discrimination in a customer equity framework”, University of California. 22. Michael E. S. Frankel (2011), “Mergers and Acquisitions Basics: The Key Steps of Acquisitions, Divestitures, and Investments”, John Wiley & Sons. 23. Steven M. Bragg (2010), “Mergers and Acquisitions: A Condensed Practitioner's Guide”, John Wiley & Sons. 24. Jan Wiid and Collin Diggines (2010), “Marketing Research”, Juta and Company Ltd 25. Ranjit Kumar (2010), “Research Methodology: A Step-by-Step Guide for Beginners”, 3rd Edition, SAGE Publications Ltd. 26. Bryman, A. (2010) Social Research Methods, 3rd Edition, Oxford , Oxford University P ress. 27. Robert.G.Gibbons, 2008. Research philosophy and techniques. 28. Sean Coyle (2006), “From positivism to idealism: a study of the moral dimensions of legality”, Ashgate Publishing, Ltd. 29. Dawson C (2009) “ Introduction to Research Methods: A Practical guide for any undertaking research project”, 4th Edition. Sage Publication. 30. Gravetter F. J and Forzano. ,L. A. B (2011), Research Methods for the Behavioral Sciences, Wadsworth Cengage Learning, 4 th edition. 31. Giorgio et al, 2010. Brief strategic therapy- philosophy, technology and research. 32. Peter Broeder, 2009. Models of language acquisition- inductive and deductive approach. 33. Bonni. C. Hodges and Donna. M. Videto (2011), “Assessment and Planning in Health Programs”, 2nd Edition, Jones & Bartlett Learning. 34. Chris et al, (2009), Research methodology. 4th edition, prentice hall. 35. Lohr et al (2009), “Sampling, design and analysis,” Palgrave Macmillan, New York Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 34. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ WEB REFRENCES 36. www.tescoplc.com FIGURE REFERENCES 37. Anderson, V. (2009), “Research Methods in HRM”, CIPD 38. Diagram 5.1 “Expectations met by the firm”, As created by the author in Oct 2012 39. Diagram 5.2 “Approach of the employees of the firm”, As created by the author in Oct 2012 40. Diagram 5.3 “Most preferred tactic”, As created by the author in Oct 2012 41. Diagram 5.4 “How do you know about the firm?”, As created by the author in Oct 2012 42. Diagram 5.5 “Do you prefer Tesco over the others?”, As created by the author in Oct 2012 43. Diagram 5.6 “Would you recommend Tesco to others?”, As created by the author in Oct 2012 APPENDIX Interview question with the managers of Tesco The interview questions are prepared to find out impact customer relationship management on customer retention and customer acquisition on Tesco. The researcher will conduct interview with an official of Tesco in one of the biggest Tesco store, located in Upton Park. The interview questions prepared are as following. Q1) How do you assess the customer retention programs employed by the firm? Q2) How does the involvement of technology plays a role in the betterment of the customer relation management as well as the customer acquisition? Q3) How does the customer retention is linked to the total profitability of the firm? Q4) Does the firm supports the CRM and customer retention programs? Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 35. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ Q5) Does the firm actively presents itself on the internet? Consumer questionnaires design In this research, the self administered close ended questions will be distributed to the employees of Tesco in Upton park , London. About 25 employees will be chosen randomly as samples to carry out this research Q1) Does the firm succeed in meeting your expectations? o Yes o No o No response Q2) How do you assess the approach of the employees of the firm, towards you? o Excellent o Satisfactory o Poor Q3) Among the given options of Quality of products, Variety of products, approaches of the employees, which one appeals you the most? o Quality o Variety o Approaches of the employees Q4) How do you come to know about this firm? o Through the other customers o Through the employees o Through the mass media Q5) Do you prefer Tesco over the others? Explore more free essays, assignments, and research papers at http://writinghub.co.uk/
  • 36. Get your 1st class custom-written paper with 10% off at http://writinghub.co.uk/ o Yes o No o No response Q6) Would you recommend this firm to others? o Yes o No Thank you for your valuable time. It is assured that the content and outcomes are for pure academic requirements and will not be made for any commercial Explore more free essays, assignments, and research papers at http://writinghub.co.uk/