Customer Relationship Management Research Proposal - Free Sample

Question: Discuss about theResearch Proposalfor Customer Relationship Management. Answer: Introduction A study on the impact of Customer Relationship Management (CRM) on acquiring and retaining customers in the hospitality industry of Singapore: A case study of Hotel Ibis Singapore. Research Background Global hospitality industry is currently booming with the prediction of $550 billion US dollars revenue in 2016 (Killarney, 2015). Singapore, being one of the top tourist destinations in the Asia has witnessed a tremendous growth in the hospitality industry. The competition is also getting fierce and the companies are implementing new and latest technologies to attract and retain customers. Customer Relationship Management (CRM) is one such technique which is gaining importance in attracting and retaining customers. CRM refers to technologies, strategies and practices used by firms to analyze and manage customer data and interactions throughout customer lifecycle (Kanchan Sharma, 2015). In this study, the researcher will analyze the impact of CRM on acquiring and retaining customers in the hospitality industry of Singapore by considering Hotel Ibis as Case Study Company. Hotel Ibis is one of top 3 star hotels in Singapore. This hotel has been chosen because the results obtained from here can be generalized it medium-large sized hotels in Singapore who can adopt CRM. Further, collecting data would be easier from this hotel due to easy accessibility. Research Aim and Objectives Research Aim This study aims to analyze the impact of CRM on acquiring and retaining customers in the hospitality industry of Singapore, specifically in Hotel Ibis. Research Objectives To identify the significance of CRM to hospitality industry in Singapore To evaluate the relationship between CRM and customer acquisition To evaluate the relationship between CRM and customer retention Literature Review Mohammed, Rashid, Tahir (2014) defines CRM as the process of using technology to manage, collaborate, systematize and categorise customer interactions and data in order to find the most profitable customers and to identify customer patters or trends to provide more specialized services or for strategy formulation. According to the study of Padmavathy Sivakumar (2012) hotels can implement CRM in three parts. The first part is operational CRM which involves with the automation of basic business processes such as service, sales, marketing etc. (Dubihlela Khosa, 2014). The second part is analytical CRM which involves collecting and transforming customer data to useful knowledge that will help identify the behavioural patterns of customers, demands, wants etc. (Becker, Greve, Albers, 2009). The third part is cooperation CRM which enhances the relationship i.e. contact with customers. Further, according to the study Kanchan Sharma (2015), CRM streamlines and enhances the processes wit hin the company, which helps the company to focus on the acquisition of most profitability customers and thus it helps in customer acquisition. Further, the study of Chadha (2015) CRM improves the relationship of company with customers which further leads to customer retention. Proposed Research Methods Both Primary and secondary data will be used to achieve the objectives of this study. Secondary data will be collected through accessing journals and books. Primary data will be collected through interview with 4 mangers of Ibis hotel. Interview would provide in-depth information to the researcher about the relationship between variables in the study. The main ethical issue is concerned with the collection of primary data. Consent will be obtained from the managers and their identity and data collected will be kept confidential. Timetable for the Research Month Week Activity Month 1 Week 1 Devise key words for secondary data collection, collect secondary data Week 2 Scan the data collected and select most relevant data Week 3 Write up Introduction and first half of Literature review chapter Week 4 Complete Literature Review chapter Month 2 Week 1 Frame Questionnaire for Interview and get appointment for interview Week 2 Conduct Interview Week 3 Conduct Interview Week 4 Gather, read and analyze the interview responses Month 3 Week 1 Write Research methods chapter Week 2 Write Findings and discussion chapter Week 3 Write Conclusion Chapter Week 4 Complete the entire dissertation, proof read and spell check References Becker, J., Greve, G., Albers, S. (2009). The impact of technological and organizational implementation of CRM on customer acquisition, maintenance, and retention.International Journal Of Research In Marketing,26(3), 207-215. https://dx.doi.org/10.1016/j.ijresmar.2009.03.006 Chadha, A. (2015). Case Study of Hotel Taj in the Context of CRM and Customer Retention.Kuwait Chapter of Arabian Journal of Business and Management Review,4(7), 1-8. https://dx.doi.org/10.12816/0018976 Dubihlela, J. Khosa, P. (2014). Impact of e-CRM Implementation on Customer Loyalty, Customer Retention and Customer Profitability for Hoteliers along the Vaal Meander of South Africa.Mediterranean Journal Of Social Sciences. https://dx.doi.org/10.5901/mjss.2014.v5n16p175 Kanchan, Sharma, A. (2015). Application of Customer Relationship Management (CRM) practices in Hotel Industries: A Review.International Journal Of BRIC Business Research,4(3), 1-6. https://dx.doi.org/10.14810/ijbbr.2015.4301 Killarney,. (2015).Hospitality Net - The Global Hotel Industry and Trends for 2016.Hospitality Net. Retrieved 16 September 2016, from https://www.hospitalitynet.org/news/4073336.html Mohammad, A., Rashid, B., Tahir, S. (2013). Assessing the influence of customer relationship management (CRM) dimensions on organization performance.Journal Of Hospitality And Tourism Technology,4(3), 228-247. https://dx.doi.org/10.1108/jhtt-01-2013-0002 Padmavathy, C. Sivakumar, V. (2012). Dimensions of CRM Effectiveness and its Effect on Relationship Quality.International Journal Of Customer Relationship Marketing And Management,3(1), 1-17. https://dx.doi.org/10.4018/jcrmm.2012010101