PantMax opened the first store in 2006 with a simple idea — to make it easier to find a merchandise and a commitment to do more. Over the last 46 years, the company has grown from a single store to a global fashion business with five merchandise — adult and children apparel, cosmetics, accessories and home furnishing. PantMax merchandise are available in across pan India through 700 company-operated stores, almost 300 franchise stores, and e-commerce sites and is still growing. Key products: Cosmetics - Skin moisturizers, perfumes, lipsticks, fingernail polishes, PantMax bedsheets, Apparels – Zuma, Kindle garden for kids Accessories- Starlet watches for Men and Women Home Furnishing – Bedsheets, Curtains, Sofa covers Vision To be a Global …show more content…
Challenges PantMax faced the below challenges from their inception • Excess, slow-moving and obsolete inventory • Weak paper control, resulting in inaccurate perpetual inventory levels • Being out of stock and the inability to accurately forecast demand • Making sure product reaches stores in time • Not living up to the hype Strategy PantMax decided to implement CRM system to find a solution to the problem. CRM system was implemented and the company was happy to see the efficiency and effectiveness of the outcome. The CRM system was really fast and able to perform the needs of PantMax. Implementation CRM implementation has helped PantMax to achieve below: Increased Flexibility PantMax was able to remain flexible and respond to frequent changes in market conditions. It helps to maintain a flow of internal and external information across all the department. Improved Information Accuracy PantMax was able to collect and integrate required information. This helps in determining the different sources of products used by the customer and act on those to improve. Integrated
Orange Kingdom is a clothing retail store owned by Between, Inc. It is differentiated from its family brands such as Between and Old Marine, as it gives an upscale image compared to the other two brands, and targets young professional population aged mid twenties to mid thirties both men and women. It provides mid-scale work-to-play casual and business apparel, accessories, and shoes through about 500 stores including factory stores in the United States. It is also gaining market share in Asia, South America, and Europe as well. In this marketing proposal, I would like to discuss three service options to retain and acquire customers.
CRM systems consist of history purchase and information of customers. It can help track customer more easily. It can reduce the process time and increase productivity.It will resist the activities of competitors attempting to attract customers’ patronage. Customers will loyal and would not switch
From an organizational and profitability standpoint, an efficient, easy to use, and unified CRM system, captures all key and critical data from sales and marketing to commercial operations, all the while focusing on sales process, sales efficiencies, and increasing sales, all contributing to the bottom-line profitability of the organization. Data has proven that CRM platforms increase the productivity and profitability of individual departments and subsidiaries, these same platforms and characteristics will have the same ramifications on a larger scale organization, especially an organization that spans the global footprint, such as
This may help users accept the changes in processes, which help to reduce the resistance of process change among users. Seamless integration tools combat the major pitfall often associated with process of CRM. Therefore, good processes are key for functionality. Process in business defines how things are done and what rules must be followed in the business. Many implementation strategies of CRM often suffer because of technical issues, poor business process designs, and customization challenges. Business must ensure existing processes such as apps are compatible with updated CRM solutions. Therefore, it is important for businesses to clearly and accurately define their business process. Utilizing mapping may identify trouble areas within existing business processes. Strategy may affect CRM solutions through weak deployment practices. Business must ensue deployment options are functional. Also, examining and understanding the overall organization resources is necessary for successful implementation and monitoring of strategies. Businesses must have adequate staffing. Businesses must calculate the cost associated with implementations. Good management of budgets and expenses make for successful implementations. Businesses must also manage and consider
* The CRM systems helped the company in differentiating its service as well as optimizing some of the activities which lead to the reduction in operational costs. For eg. OnQ Reservation used data from the CRM, allows the agent to access callers’ personal dossier and update their preferences. This helped in reducing the call time as well as promoted the cross selling. Another example is having information prior to
Using a CRM program is an effective tool to track of core customers’ needs and wants then individualize those needs with your products and services that match those needs. Moreover, the CRM program can keep track of contact,
The use of CRM could also be used to target specific marketing programs for individual customers. It will help the company evaluate its customers, which in turn will aid Canyon Ranch in developing features, products or services that will suit clients’ preferences. The
The CRM system contains positive attributes, but the implementation is risky. Despite the risks that are involved, establishing a strong team that can help the system work effectively and efficiently will improve the company’s key performance factors. Communication amongst the administration that
In order to establish a suitable CRM system and increase the success rate, understanding CRM processes is especially important. Building CRM system, there are many works need to do(). Firstly, the target customer market should be identified. Different customer strategies are focused on different target customer markets based on their profitability. Then, firms set customer objectives, for example, acquire customer satisfaction and loyalty. After that, the leaders and managers should support and commit the implementation of a CRM system. At the same time, when companies change their targets, a plan about changing
It’s very important to a business to have good customer relationships; CRM Software’s main objectives are to attract new customers while maintaining and satisfying their current customers and trying to win back the trust of former customers. Customers are one of the most important variables for a business owner to pay attention to, when trying to create a profit. Customer Relationship Management software keeps track of customer information to help the company maintain a strong relation with the customers. Good CRM Software brings together information from all databases within a company and gives
Customer Relationship Management (CRM): Customer relation management (CRM) is a cross functional enterprise system that computerizes numerous customers serving form in direct marketing, sales, customer service and accounting management. CRM allows a company to distinguish and focus on their best customer so that they can be held as a loyal customer for a longer period of time.
CRM (Customer Relationship Management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had
CRM systems are customer relationship management platforms. The goal of the system is to track, record, store in databases, and then the
CRM systems can be used to deliver personalized services to users to develop long standing and advantageous to customer relationships. This personalization includes effective use of resources like filtering information to users, personalizing services to customers ,based on customer purchase history sales creating chance to cross-sell related services This approach to personalization offers immediate services and user interfaces and execution of multiple tasks remotely
Customer relationship system or we called it CRM, which is the one of the information system that has been used by Prudential Assurance Malaysia Berhad. Customer relationship management is a type of software application. Employees can manage customer information by using CRM. The relationship between company and their customers can be grown in long-term and stable. This system’ primary concept is to keep the business operational through finding and maintaining clients. All departments in the same building can keep track of other department processes such as customer service. Technology is required for customer relationship system to organize and analyze business processes.