OUM BUSINESS SCHOOL

SEPTEMBER/1016

BBPM2103

MARKETING MANAGEMENT

MATRICULATION NO : 950328125931001
IDENTITY CARD NO. : 950328125931
TELEPHONE NO. : 0146577220
E-MAIL : janeeriowilster@oum.edu.my
LEARNING CENTRE : SANDAKAN LEARNING CENTER
Contents
INTRODUCTION .......................................................................................................................... 1

EXPLAINATION OF THE CRM STRATEGIS ......................................................................... 2-3

DISCUSSION ON ADVANTAGES OF CRM ........................................................................... 4-5

DISCUSSION ON DISADVANTAGES OF CRM .................................................................... 6-7

SUMMARRY ................................................................................................................................. 8

Bibliography ................................................................................................................................... 9
INTRODUCTION

Nowadays, businesses can be done in many various ways, for instance through the
internet marketing, stocks trading, exports and imports in or out of the country. With the advance
of customer relationship management finally open up business opportunity for the customer to be
at the forefront to meet their needs. The customer relationship management is a term which
refers to practices, strategies and technologies use by companies to manage and analysed the
customer interactions and data throughout customer lifecycle which the main goal to improve
business relationship with the customer, helping customer retention and enhance company sales
growth. Knowing the advantages and the disadvantages of the customer relationship
management would help the company to improve their reputation to the customer.
I am currently the general manager of COACH, Inc. this company was founded in 1941
by Lillian Cahn as a family-run workshop in a Manhattan loft. They were begin by six worker
handcrafted leather goods using skills which down from generation to generation. Consumers
soon began to seek out the quality and unique nature of Coach Craftsmanship. This company is
leading design of modern luxury accessories and lifestyle collection which include women's and
men's bags, womens and mens small leather goods, business cases, footwear, including
outerwear, watches, weekend and travel accessories, scarves, fragrance, jewelry, travel bags and
other lifestyle products. Our company continues to developing our market together
with licensing partners which we offer watches, fragrance and other products at selected
department stores and retailer locations.

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EXPLAINATION OF THE CRM STRATEGIS

As we know that, many people are now running much type of businesses to fulfil the
wants and needs of the customer. One of the strategies to expand business is by using the
Customer Relationship Management also known as CRM in simple form. But in order to
perform good business to be able to compete with the outside world, few steps have to be taken
care of to achieve the goals in your businesses.

First of all, one way to implement strategy of CRM is by prioritizing customers. There is
one common thing in every business to treat their customers equally. As we know, business is
not a democracy which other company will feel sympathized for whatever problem you faced
along with your businesses. For any company to be successful, they must have an open minded
to willingly prioritize their customers to meet their needs, for them to feel comfortable to deal
any business with your company. For example, you may want to give discounts or free gifts for
your repeat purchasers, sell at competitive price and offer free and easy return.
Next, a CRM strategy must be aligned to the goals of the organisation, so that the CRM
always communicate in a consistent way about the company. It is important to use the same
platform of CRM among all different kind of department. This is because; all the data and
information collected would be in nicely and orderly arrange so costume would not find any
complication when using the CRM. Then, the goal of the organisation also should be aligning to
its own perspective department when developing the CRM strategy.
Plus, starting tracking your customer before the first contact will somehow help you to
implement strategy to your CRM system. The CRM framework has the ability to capture and
collect data related to your customer along with their journey. Preparing the first contact with
your customer by the lead of your CRM will detect what are the information of the customer had
share in the media social platform. Unfortunately, many businesses neglect to put their CRM to
this kind of strategy and fail to operate at maximum for the benefits of the company. By
initiating first contact with your customer will give you the ability to track what your customer
want and how your company meet their needs in the future.

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 Furthermore, in order to improve the customer relationship management, you should
provide motivation and incentives to the customer. As we know that, different customer will
have different needs. When come to the providing motivation and incentives, there are various
different model of compensation which suits the clients needs, and giving the incentives will be
based on the collection rate measurement, liquidation and cure. With this kind of strategy will
engage late paying customer which will keep them away from collection process. For example, it
has been proven that, resolving and identifying pass-due issues will improve customer
satisfaction.
Last but not least, controlling the customer service and performance is one of the
strategies to improve CRM in your businesses. The moment the call comes in from the customer,
the universal agent would help the costumer in any way to fulfill their needs. Besides, a quality
customer service could be given with sympathy and empathy that in the same time meet the
needs of the costumers. Study shows that by offering this strategy would increase the customer
satisfaction and increases the likelihood of receiving payment.
In conclusion, the CRM system has to be performed with strategies in order to works
very efficiently towards your businesses. Providing incentives, controlling customer services,
starting to track the customer, aligning goals of business with the organization and always
prioritizing your customer are the ways to implement good reputation of your businesses with
your customer. So, good performance of businesses is come from good management of that
business.

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DISCUSSION ON ADVANTAGES OF CRM

The CRM system helps so many aspects in any types of businesses your running. It is
because; it has been made to improvise and promotes your products as well as your company
reputation to your customers. But what are the benefits of using this system?
The CRM works in various ways to help your businesses to expand. CRM can create
beneficial to your businesses. The CRM help to improvise the informational organization. It is
because, if you can provide fast, full, and very organized information to your customer, you will
be able to draw good attention and positive experience of your customer towards your business
that really worth it. Plus, the interaction with the customer which includes their personal
information, log in history needs to be recorded and identified in order to accurately quantify and
categorized data for easy and simple future references whether the customer or the company. It is
important to make sure the data is accessible across any department in your company for further
actions. By providing instant actionable data and information that match a question from the
customer will bring more joy for both customers and employees because it help to save time to
ask and answer questions.
In additions, using CRM may help improve the customer relations by obtaining customer
satisfaction towards your products and more of your company. This is because; when using this
CRM system, all activities related to marketing, servicing, and selling products of your company
would be organized and arrange in a systematic ways. Better services which include packaging
the products, time of delivery, price can be provides to the customer. This would increase
customer satisfaction or loyalty and reducing customer discomfort about your services. Not only
that, showing your firm gratitude by saying Thank you after a customer has finish buying a
product would leave them with a feeling of being appreciated. This way also will create good
relationship with the customer that makes them to come again next time to buy products.
Furthermore, the CRM system also helps to maximizing the up-selling and cross selling
of products offer by the company. This can be done by allowing the up-selling which is offering
the customer product that is listed in the same category of their purchase. Plus, the CRM owner
would have the opportunity to offers complimentary products to their customer in which
promotes the cross selling of a product. This strategy can be done by interacting with the
customer about their needs and identified their pattern of buying. The CRM system allow the

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data to be stored in a database, hence all data regarding a customer like history of buying can be
view accessible to all company executives. So, whenever there is an opportunity, the executive
will promotes the products to the customers.
Nevertheless, this CRM system also helps to increase the customer revenue. It is because,
the CRM system enable the executives to collect data from the customer, for instance purchase
history, personal information and much more. This way will enable you to promote and
popularize your company in a convenient way. Plus the CRM system also helps to ensure that
any product promotion will be done effectively, the promotion which includes different brands,
price and quantity for the customer.
The CRM system somehow saves your time for the business that you are running. It is
because, with the right choice of CRM system, you are no longer spending time to put data,
information and collecting information from the customer itself. The CRM systems nowadays
are automated, user-friendly, and integrated that best suit your businesses. Plus, you are not
going to busy putting and generate revenue for your business because the CRM system would
have done it. In fact, you would be able to focus more on your business and doing discussion
with your employees on how to improvise your business with the help of CRM system. You will
not spend much time on activities like automating administrative tasks, marketing campaigns,
and even lead follow-up, because its been done by your CRM system.
As a conclusion, using this system in addition with the perfect strategies of business
management would help to increase the profits of your company. Not only that, you also have
the opportunity to expand your business according to your availability. So competing with the
outside world of businesses would not become impossible with the help of CRM system.

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DISCUSSION ON DISADVANTAGES OF CRM

Aside from the advantage of using the CRM system, it also has the disadvantage which
may and may not affect your businesses. Therefore, you must really emphasize on some spot
when using this system in order to minimized complication.
Firstly, the CRM system may have suffered on the record losses. This is because; most of
the CRM system is using the remote internet connection to save the customer record. The bad
thing about this type of CRM is that, when your company does not any control data which may
cause the control data to outage, and the company could not retrieve or track the data. When
using the small CRM system and it get unstable this might become even worst and may cause
profits loss because of the loss of revenue of the company. Therefore, it is important to always
use backup data to avoid data loss.
Secondly, the some of the CRM also facing the problem of system integration failure for
some businesses like businesss current email and accounting system. It is because, there is
complication in collecting data, retrieving information and any other reasons that just not work
for this kind of business. Then, this type of CRM is less beneficial because of its incompatibility
and cannot be integrated to the business. Company that involved to this kind of problem has to
look for other CRM system that really suit their needs, but this mostly cost a lot of money.
Thirdly, the CRM system can be difficult to learn. It requires professional and
experienced person to handle and use this system. This is because; there are so many things to
learn and remember and specialties in order to work well. Without this kind of person in your
company, your companys productivity might be affected and decreased, in which then cause the
loss of sale. Therefore, it is important to prepare someone in your company who can play the
important role to handle situation like this.
Besides, the CRM system has the potential to drawback towards the company. There
must be lack of commitment among the employees whenever this system implemented to the
company. If this happen, the relationship between the company and customer will decrease and
eventually break down. This cause the customer to be less satisfied with the services that the
company provides. Thus, this will affect the company reputation and company revenue that
totally cause loss of profits. If there is poor communication, then the system would not be able to

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function properly. All the significant people in the company must know the correct information
use for the system to be able to work at convenient ways.
As a conclusion, choosing the right CRM for your businesses is one thing to be taken
care off. It is because; it will determine whether your company will gain profits or loosing
revenue. One thing that is important in organization is that leaderships. If the leaderships are
weakening, it could cause problems for the CRM and also the company performances.

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SUMMARRY

As we can see that, the CRM system has to be performed with strategies in order to
works very efficiently towards your businesses. Providing incentives, controlling customer
services, starting to track the customer, aligning goals of business with the organization and
always prioritizing your customer are the ways to implement good reputation of your businesses
with your customer. So, good performance of businesses is come from good management of that
business. Next, if you can decide which CRM that really suit your business; you are able to
generate more revenue for your company. Collecting data and information from the customer is
important. But just remember that, the collecting data and information should always be monitor
from time to time. This is because; it will help you to minimize the chances of losing data which
will cause the loss of revenue of your company. You should always have backup data in order
for you to prepare any chances of losing data. For your own convenient, you can always retrieve
back the loss data without any complication. Using the right system, come along with good
leadership and management would help your company to gain more profits and you will be able
to compete with other people without any doubts.

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Bibliography

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What are the benefits of using CRM for your business? (2015, March 6). Retrieved November 8,
2016, from PerfectMind Blog: http://blog.perfectmind.com/benefits-of-using-crm-for-
your-business
COMPANY PROFILE. (n.d.). Retrieved November 3, 2016, from COACH:
http://www.coach.com/company-information.html
Copeland, S. (2012, March 27). New Strategies for Customer Relationship Management.
Retrieved November 4, 2016, from MediaPost:
http://www.mediapost.com/publications/article/170917/new-strategies-for-customer-
relationship-managemen.html
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Rouse, M. (2014, November). customer relationship management (CRM). Retrieved November
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