Customer Relationship Management design policies and schemes are tailored to customers needs and make them to have continuous engagement with the brand's products or services
3. Retailing
Acc. Philip Kotler, retailer or retail store is any business enterprise whose sales volume comes
primarily from retailing.
Retailing- All the activities that involve in selling goods and/or services directly to the final
consumers for personal, non-business use.
i.e., if an organisation involves directly with final consumers in selling their products then it’s doing
retailing.
Goods and/or services sold through
● in-person
● mail
● telephone
● vending machine
● online
Where- it can be in a store, on the street or at the consumer’s home.
4. Retail
1.0
➢ Physical Stores
➢ Self Service
➢ Single Channel
2.0
➢ Departmental Store
➢ Supermarket
➢ Hypermarket
3.0
➢ Technology Advancements
➢ E-commerce Boom
4.0
➢ M-commerce & Social Media
➢ Multi-channel & Omni Channel
5.0
➢ Reimagined Physical Stores
➢ Self-CheckOut System
In the evolution of retail & consumer two significant shifts seen in retailing viz technologically & Consumer
Behaviour
Generation
Silent
➢ Option of just Brick and Mortar
Simply come and buy the product
Baby boomer
➢ Rise of radio and TV Ads
Started to hold the power
Generation X
➢ Internet Boom
Customer is the King
Generation Y/ Millennials
➢ Age of Omni Channel
At the core of everything
9. Store Retailers- cater to wide consumer preferences for different service levels
and specific services
1. Self-service
2. Self-selection
3. Limited service
4. Full service
Types of Retailers
1. Store
2. Non-Store
3. Corporate
10. Store Retailers major types
➢ Speciality store
➢ Department store
➢ Supermarket
➢ Convenience store
➢ Drug store
➢ Extreme value or hard-discount
store
➢ Off-price retailers
➢ Superstore
➢ Catalog Showroom
11. Non-Store Retailing major types
1. Direct marketing
2. Direct selling
3. Automatic vending
4. Buying service
12. Corporate Retailing major types
1. Corporate chain store
2. Voluntary chain
3. Retailer cooperative
4. Consumer cooperative
5. Franchise organization
6. Merchandising conglomerate
Marketing Management by Philip Kotler
15. CRM Initiatives
● Awareness- Targeted education
● Personalized Email Alerts
● Audience-specific perks
● Special clubs
● Promote organization’s mission
● Referrals & Advocacy
● Exchange Policy
A CRM system gives a business a unified view of each customer and its dealings with
that customer, enabling a consistent and proactive relationship.
16. Loyalty programs
❖ Punch card programs
❖ Basic point
❖ Customer Special day based points/discounts
❖ Tiered point system
❖ Coalition loyalty
❖ Premium loyalty
❖ Cash back loyalty
❖ Hybrid loyalty
17. Future Retail
Hypermarkets, Supermarkets & Lifestyle
consumer electronics
Loyalty Programs-
❖ Future pay - Price Match, Free
Cash back, & Exclusive Offers
https://www.youtube.com/watch?v=MjIdXUzP19c
❖ Easy day Club
https://www.youtube.com/watch?v=Uk0avUWgMuk
❖ Big bazaar profit club
https://www.youtube.com/watch?v=b9uI08CoXVc
Up-selling & Cross-Selling
https://www.youtube.com/watch?v=OcguaYVU93
o
https://www.youtube.com/watch?v=zt_edgewZSU
19. In collecting large amount of data from on-sales, customer purchasing history, goods
transportation, consumption and services.
● Design and Construction of data warehouses based on the benefits of data mining.
● Multidimensional analysis of sales, customers, products, time and region.
● Analysis of effectiveness of sales campaigns.
● Customer Retention.
● Product recommendation and cross-referencing of items.
Data mining applications in retail Sector
20. Need of CRM Software for Retail Sector
● Customer history
● Segmenting
● Tracking
● Promotions
● Purchase tracking
● Loyalty
● Cost effective
● New buyers
21. Challenges
➢ Balancing -Existing customers and Non-existing customers- instant gratification
➢ Growing trend of nuclear families
➢ Fast changing customer experiences
➢ No unique solution - continuously in search of smart approaches
➢ Digital disruption - advent of technology
Apart from these, organizations need to retain & inspire the employees.
Critical Factors
★ Clear and Transparent communication
★ Personalized Experiences
★ Consistent Delivery
22. A. Engagement incentives - Rewarding engagement & advocacy
B. Emotional rewards - Offering unique experiences
C. Value focus - Align organisations values with customers’ passions & interest’
D. Data Science - Drive effective personalization
E. Loyalty Mechanics - Behavioural science & gamification
F. Monolith Stone Piece
Latest developments in CRM- Recognition Loyalty Program
