Business research methods

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PURPOSE

The main purpose of research work is to analysis and understands the issues of business scientificaly our systimaticaly. According to Redman and Mory (1923) defined research is a systematized effort to gain new knowledge" This research proposal is based on qualitative and quantities methods

RESEARCH TOPIC:

Customer Relationship Management-A strategy of Tesco

RESEARCH BACKGROUND: In the modern business environment, throughout the world has made it very complex for those businesses which are short of expertise the rapidly changes in global technology, business competition economic and social behaviour made very challenging for those supermarkets which has no business strategy. In these days firms not only have to compete with local competitors but also with international competitors.

CRM is a combination of customers and relationship development.All those compines who have successful CRM strategy are getting reward through customer loyalty and long run profitability.

http://www.emeraldinsight.com/10.1108/14637150310496758

COMPANY BACKGROUND: Tesco is the world 3rd largest retail store. Tesco was founded 1920s by Sir Jack Cohen.Tesco Plc is an UK based international grocery and general merchandising retail chain. First self service store was opened in at St Albans in 1947.

Tesco has 4331 stores around the world. Tesco employs 470,000 people.

There are five top superstores in the UK. Tesco, Asda, Sainsbury, Morison and Co-op/Somerfield. These five groups have around 85% of grocery retail the UK market. Tesco has approx 30% market share of British grocery retail.

CASESTUDY: UK largest retailer Tesco and the top supermarket straregy to compete in US.This case study focuse on Tesco EXPENSION PLANED its entry strategy in the US which places it directly against competitor and retail group gaint Wal.Mart.

http://www.casestudyinc.com/tesco

Tesco intial strategy was how and what they can do for their customers?

  • Making customers shopping easy
  • Continue chaeck on pricing as less price more sale
  • Offering convinence to the customers on both small or large stores
  • Simplicity and value in produc as compare to other stores.

TESCO PERSONAL FINACE:

Tesco has joint venture with Royal Bank of Scotland which offers loan, car loan, saving accounts, and credit cards etc.

TESCO BRAND IMAGE:

Tesco is the one of the retail which offer the good ,better ,best" policy for its product like Tesco value(tesco own brand) healthy living,organic,tesco kids,tesco baby and tobbler club,best of british,world food,tesc whole food,tesco backery,tesco mobile etc.

RESEARCH QUESTION

  • How Tesco held and maintain their loyal customrt through customer relationaship management.
  • How tesco manage in recession?
  • What stratigy should be adopt to successfully compite their other competitors like Sainsbury and asda?
  • How can they maintain their standerd on international level specialy in multicultuaral area like Asia?

RESEARCH OBJECTIVE:

We have two types of research objectives primary objective and Secondary objectives.In primary research we have to find out these factors. So we can emphasis on those targets or problems effectively.

  • To adopt the strategies and understanding the issues by which Tseco can compete and lead and become supermarket gaint.
  • What strategied should be adopt in other countries
  • How the promotional activities will be helpful for the business.
  • What benifite can offer to customer to achive the target income?

Alongside of primary objective we have secondary objective for carrying out the research. On the basis of primary objective research we will carry out secondary research.

  • The critical studies upon trading promotional activities of Tesco.
  • To analysis that what is scope and perentage of success for the Tesco in Asian market.
  • Can the existing stratiges will work in different cultural background.
  • What kind of issues or problem ariers and how we can face and solve them in Asian contries.
  • How much the current customer relationship mangment is working and what is the out cum of it and what changes are need to make?

LITERATURE REVIEW:

Costmer relactionship management is the process which is used to creat and maintains relactionship between busness and customer or consmers.customer relactionship management is a specific method which gives us a clear picture and differentiat between customers through costomezation

Basic taske should be carried out through catagrization of customer.

  • What is customer identification?
  • How a customer can be defferentciate.
  • How business can interact a customer.
  • Customization or personlization.

All over the top, the customer relationship is one piller out of four pilles as when a new business established in multicultural area then a specific strategy should be adopt, there should be a little margin of profit in bigging that will intract customers to try some thing different. Micheal E Portger the scholar who defines and describes the theory on competitive strategy. He says how to become different from other compititors by choosing different activitiesto create a unique mixture of value and stander.

We can perceive the idea of doing thing differently from other supermarkets. As my understanding to Porter there are four generic strategies which are as I mentioned through the picture. (pic.1). this theory seems fit in Tesco case if Tesco adopt cost leadership strategy then will enjoy the pofit. According to Mecheal E Porter my understanding is when a new business enters in a multicultural country then they have to adopt the growth/share matric formula.firstly firm's competitive position in the business market secondly the net cash flow result which is required to run a smooth business.

All responsisbilty of generating a high sale, effective future planning, implementation of marketing is lies onCRM.to utilization o all best available sources effectively in different department like marketing and sale.

CRM,s main purposes are as follows:,

  • To identifiy loyal customers, getting good sale, effective future planning.
  • To provide emplyees with the update information, what they need to know is their customer, s desires and builds reationsip between the company and its customers.
  • To creat individual relationship with customers in order to fulfil customers satisfaction indivisualy.

There are many potantail benefits of CRM specialy should be foucused on existing customers and interaction of new customer as well.

  • Identifying needs more effectively by understanding customer requirments.
  • Cross-selling of different products by suggesting alternative or enhancement.
  • Creat the data of profitable or non-profitable customers, so effectively can interact those customers.

All above mentioned information will ultimately culd lead to:-

  • Achiving customer satisfaction and rentention.
  • Ensureing that your good will in the market will continue to grow.
  • Increasing value from existing customer and overall efficiency to reduce cost of sale.
  • Foucsing on most profitable customers and set a strategy for the unprofitable in moreeffective way.

Strategy and Practice (1998), Jean Woodall, Diana Winstanley, Published Blackwell Business

RESEARCH METHODOLOGY:

To obtain the perfect data we have to use all information and data systematically. We have to collect the data, assesing the data and the most important critically analyaising the data because of the nature of the topic and research (customer relationship management of Tesco).We will different techniques.

  • Exploratory research
  • Explanatory research
  • Descriptive research

EXPLORATORY RESEARCH:

Exploratory research method will be used to focuses on following purpose:

  • Define problem precisely.
  • To create hypothesis.
  • To establish priorities for refining research.
  • To get insight approach for solving problem.

How and what method would be used for exploratory research?

  • Expertises surveys
  • Critical analysis of secondary data.
  • Qualitative research.

EXPLANATORY RESEARCH:

Explanatory research will be based on causes and reasons. This study made relationship between variables.

DESCRPTIVE RESEARCH:

Descriptive study is a kind of refined study of exploratory study. This study will make a clear and exact profile of any situation and event. Whole situation would be described through various kind of research and data collection.

RESEARCH TECNIQUES:

The techniques which we have adopt are as followed, indivual interviews, survays, material collectd from different sources for example, face to face groups, internet, online survays, postal, and telephone. All observation techniques are usually included in it, usually when we conducting field analysis.

STATEMENT OF RESEARCH DESIGN:

Here is described that how we could get the correct research on the research proposal topic. It is very important to get the detailed knowledge and critical views of the expertise and academic literature shall be studied. It is essetional to get the clear picture tesco customer relationship management strategy. Through online sources, books journals, and academic literature we can achive clear knowledge of all aspect of customer relationship management strategy. All academic studies shall be done in this research will be based on exploratory study to get the better understanding of every aspect of the research.

DATA COLLECTION:

There are two kinds of data collection one is qualitative and the other is quantitative. In our research proposal we are using both methods to collect the correct data.

QUALITATIVE METHODS:

Qualitative research is also based on assumption. The international market can be investigate by using scientific methods.we will use the scientific method for conducting the research. we will go for open interviews or questionnaire will ask general people to express their experience freely.We may call it collecting data qualitatively or systamatically ,hte process through wich the data will be collected is mentionaed as under.

INTERVIEWING:

Collecting data by using qualitative data mainly we do interview people.Where they may be allowed to express their ideas to improve customer services and personal experience. We shall dicusse some sensitive issues and about the topic (customer relationaship management) specialy.

QUANTITATIVE METHODS:

The quantitative paradigm is based optimisum side of reality that could be based on universal laws. We use this data to test the hypotheses and measuring social world.

Quantitative data can be quantified in the terms of quantity.It involves in merurment of quantity or amount.We will use qualitative data collecetion method it may include online survays, open interviews, telephonic interviews and questionnaire.

DATA ANAYLSIS;

There are many different theories to analaysis the data but we will use Strauss Corbin (1998). This method of data analyising will enable to develop the concept and expressed views to the conclusion. This type of data analyizing is less formal and systematic.(Saunders Lewis and thornhill 2003)

As this research is based on both qualitative and quantitative data so all data obtained through different methods will be analysised carefully and this data will help to built diferent stratiges of customer relationship management. This critical analysis will also help to maintain the performance of customer mangment in Tesco.

REFERENCING:

  1. (Porter.M, 1980, competitive strategy, the free press .New York)
  2. (Source: tescopreliminary result2004)
  3. krajewski, Lee.et al2007, Operations Management 8th edition, Pearson education
  4. sunders Mark et al 2007, Research Methods For Business Student 4th Edition ft Prentice Hall
  5. Managment Development Straegy and Practice, 1998, Jean Woodhall Diana Wintanley, Published Blackwell Business.

BIBLIOGRAPHY:

  1. Journal (References)
    • Publication: Strategic Communication Management By Connor, jackie
  2. Web Sites (References)
    • http://www.businesslink.gov.uk
    • http://www.getfast.co.uk/crm
    • http://www.crm-strategy.net
    • http://www.casestudyinc.com/tesco
    • http://www.casestudyinc.com/tesco

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