This paper explores how a customer relationship management (CRM) strategy can improve Wal-Mart's customer satisfaction levels.
Written in 2008; 2,528 words; 15 sources; MLA; $ 76.95
Paper Summary:
The paper focuses on the declining trend in its customer satisfaction metrics within Wal-Mart's retail locations. The paper examines how a customer relationship management (CRM) initiative can reverse this. The paper shows how, for Wal-Mart, its CRM strategy must be anchored with an emphasis on personnel driven CRM solutions within the store, since its IT infrastructure and related CRM technology platforms are already industry leading applications. The paper explains how Wal-Mart can create a personal relationship with its customers and the closest retail location to those customers.
Outline:
Overview
CRM in Detail
An Example of CRM at Work
CRM's E-Commerce Solutions
Emergent Models
Conclusion
From the Paper:
"CRM strategies have been in existence since commerce became a human endeavour and companies have historically always sought to satisfy their customers. Often an organization's CRM strategy is nothing more than a business owner's attempt to build a relationship with the organization's customers and this aspect still rests with executive leadership today (De Koning & Maravanyika). However, in the contemporary retail business environment CRM has been appropriated by IT applications and products designed to automate CRM efforts. Companies are rushing to automate and better manage their methods in which they have traditionally dealt with customers, including people who might not be considered customers yet, as well as develop completely new concepts in managing the customer from a service perspective. CRM applications incorporate the business functions of marketing materials, developing and maintaining customer histories, and coordinating a company's multi-faceted approach to interactions with customers."
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