Effects of CRM In Customer Retention Of Farmfoods And Internationalisation

Effects of CRM In Customer Retention Of Farmfoods And Internationalisation

Maintaining a good relationship with customers is essential to create customer retention and loyalty. As revenue and consumer loyalty are both necessary qualities which affect the growth of the company; therefore, CRM is a type of management strategy which helps to increase the rate of profitability in business. Moreover, CRM helps to create a connection between customers and the employees of the company. This business strategy acts as a catalyst for the expansion of the business. Customer demands and preferences of products can be analyzed by CRM activities which help to satisfy them. This research is based on current errors related to card payment in the outlets of Farmfood, which is negatively influencing customer retention in the UK market and also the international market.  In this critical condition, the firm is concerned to solve these issues by using alternative payment systems and feasibility. However, the issues can be solved by using simple methods for the transaction. Description of CRM function in Farmfood outlets will be elaborated in the research, and the significance of CRM will be elaborated. Therefore, all the factors which can influence CRM activities will be elaborated in this research.

Research question

How can CRM develop consumer retention rate in Farmfood and improve international consumer involvement by the application of modified technological equipment?

Literature awareness

Sometimes large companies face a lot of challenges while implementing CRM activities within the organization.  The improper infrastructure of the business becomes the major challenge for the organization, which creates a lot of trouble in the process of communication with all the customers of the company (Das et al. 2018).  In that critical condition, the company fails to build a strong relationship with all customers. Therefore, the needs of the customers cannot be identified by the employees of the company, which creates more trouble for the company. According to Aldaihani et al. (2020), having a communicating gap creates more changes to the company, and all the employees and customers become dissatisfied by the functions of the company. Therefore, it affects the productivity and sales rate of the company. As per Maslow's theory all the physiological needs of the customers are required to be fulfilled for maintaining a proper retaliation by the CRM activities. Along with that, self-actualization and safety need help to get proper encouragement (Tahir, 2018). So, it is essential for an organization to follow proper salaries for developing the bonding between the employees and customers of the organization.

During the implementation of CRM within the company, there are many challenges that can be arisen, such as acceptance of change in the process of business operations. As stated by Bahri-Ammari and Bilgihan, (2017), change is required for solving different kinds of issues of any organization, and it helps to develop the internal and external functions of the business. Therefore, while implementing changes within the organization, the employees can face issues to accept the change. In that critical situation, the management team needs to provide proper motivation to encourage them in their work. It helps to develop CRM activities, and the employees can focus more on customers. 

Empirical Content

A survey will be organised by selecting 51 customers of the Farmfood for analyzing the CRM activities and issues of the organization. Apart from this, three managers will be selected for conducting an interview session. Therefore, both qualitative and quantitative data will be collected for this study (Basias and Pollalis, 2018). Primary data will be enough for analyzing the service related problems in Farmfood organization. Both open-ended and closed-ended questions will be included in the questionnaire form for getting in-depth information about the concerned topic of the study. Moreover, the data will be analyzed by using proper statistical tools, and interpretation will be made after that. All data will be protected by the researcher by maintaining ethics related to the study.

Coherence and logic between sections of the outline/action plan

Table no. 1: Outline of the plan

(Source: Self-Created)

Methodology: -

The researcher will choose positivism philosophy for identifying the whole process of the research in a proper manner. This approach also helps to find out the actual information and hidden factors associated with the topic. Descriptive kind of design will be selected by the researcher for giving a proper structure to this study (Fletcher, 2017). In addition to this, the deductive approach will be applied by the researcher for identifying valuable sources to collect informative data.

Secondary information will be collected for giving a framework to the study and getting an idea about the topic. After that, primary data will be collected by conducting interviews and surveys. Some participants will be selected for collecting both qualitative and numerical data. However, the researcher will maintain the confidentiality of the data for following the ethics of the study.

Expected Findings: As per the details mentioned in the above section, it can be stated that maintaining a good relationship with all the customers is essential to create brand awareness. It helps to understand customer needs and their purchasing behaviour. CRM plays an essential role to identify detailed information about customer preferences. Therefore it has a strong impact on the business, which is helpful to increase the sales rate of the company. If any company is directly associated with its customers, then proper information about their needs and intentions can be identified by the CRM team. However, proper interaction with all customers is essential to develop the performance of the firm. The rate of sales can be increased by emphasizing correct interaction with customers for identifying the actual demand of them. Apart from this, the collection of customer feedback from customers can also help the company to grow. Further information with respect to CRM and its influence on the business of Farmfood can be elaborated after completing the whole research program.

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