Synopsis Westside Niks

8/7/2019 Synopsis Westside Niks

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ANNAMALAI UNIVERSITYDIRECTORATE OF DISTANCE EDUCATION

PROFORMA FOR APPROVAL OF MBA PROJECT PROPOSAL

Enrollment Number:4740900632

1. Name and Address of the Student : NIKHIL SHARMA

(With contact no.) MIG 8/5, JDANear T.V Tower Katanga,JABALPUR [M.P] PIN- 440010Mob: - 8055381780

2. Subject Area of the Project : Retail

3. Title of the Project in capital letters :AN ANALYTICAL STUDY ON CUSTOMER

RELATIONSHIP MANAGEMENT STRATEGIES

FOLLOWED BY WESTSIDE IN NAGPUR CITY

4. Name and Official Address of the : NIS Academy, Ram Nagar, NagpurResearch Supervisor (Bio-data should Mob. No. - 9890131595be enclosed)

Signature of the student :

Date :

Signature of the Research Supervisor

Name: Mr. Ashish Arun LingeAcademic Year: 2009-2011

Number of the candidate

(Number of the candidate should notexceed Five for a ResearchSupervisor in an academic year)

Encl.:1. Synopsis

2. Bio-data of the Research Supervisor.


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ANNAMALAI UNIVERSITYDIRECTORATE OF DISTANCE EDUCATION

BIO-DATA OF THE RESEARCH SUPERVISOR

NAME : Mr. Ashish Arun LingeEDUCATIONAL QUALIFICATION : MBA, M.PHIL, M.A, B.Sc.

DESIGNATION : LecturerNAME OF THE INSTITUTION / : C.P & BERAR, Ravi Nagar, NagpurORGANIZATIONYEARS OF EXPERIENCE IN :TEACHING - 10 years TEACHING / INDUSTRIES

OFFICIAL ADDRESS WITH PHONE : 47, Hill Road, Gokulpeth, NagpurNUMBER (MOBILE AND LANDLINE) Mob. No. - 9890131595

RESIDENTIAL ADDRESS WITH : Mr. Ashish Arun LingePHONE NUMBER 282, Gajanan Soci

Dutta-wadi, Amravati Road, NagpurMob. No. - 9890131595

Signature of the Research Supervisor

Forwarded by:Head of the Department / Principal withOfficial seal (Educational Institution)Sr. Manager / Higher Authority WithOfficial seal (Organization)

Affix

Photograph


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SYNOPSISON

AN ANALYTICAL STUDY OF CUSTOMER RELATIONSHIPMANAGEMENT STRATEGIES FOLLOWED BY WESTSIDE

IN NAGPUR CITY

Submitted To:

Annamalai University, Chennai

In partial fulfillment for degree of

Master of Business Administration(Applied Management)

Submitted By:

Nikhil Sharma

MBA-2nd

year (Retail)

NIS Academy, Nagpur

Enrollment No. 4740900632

Under The Guidance ofMr. Ashish Arun Linge

MBA, M.PHIL, M.A, B.Sc

Submitted Through

47, Ganga Building, Hill Road, Gokulpeth, Nagpur 440 010

NIS Academy(A Division of NIS Sparta Ltd., A Reliance Anil Dhirubhai Ambani GroupCompany)

(2009-2011)


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INDEX

Serial No. CONTENTS

1 TITLE OF THE PROJECT

2 STATEMENT OF PROBLEM

3 OBJECTIVE OF THE STUDY

4 RESEARCH METHODOLOGY


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1.TITLE OF THE PROJECT

AN ANALYTICAL STUDY ON CUSTOMER RELATIONSHIP

MANAGEMENT STRATEGIES FOLLOWED BY WESTSIDE INNAGPUR CITY

INTRODUCTION

Westside stands out from the competition for a variety of reasons. Style, affordableprices, quality: these are the factors that have shaped Westsides success story in theretail fashion stores business. Launched in 1998 in Bangalore, the Westside chain has,ever since, been setting the standards for other fashion retailers to follow.

One is that a majority of the brands the chain stocks and sells are its own, unlikeretailers who store multiple labels. About 90 per cent of Westsides offerings arehome-grown, and they cater to different customer segments. The other 10 per centincludes toys, cosmetics and lingerie. Westside has recently expanded its range ofmerchandise by offering outfits from some of Indias best-known fashion designers,among them Wendell Rodericks, Anita Dongre, Krishna Mehta and Mona Pali. Thisis an interesting marketing shift, since it means moving away from the chains only-our-own-brands concept.

Trent is the retail arm of the Tata group. Started in 1998, Trent operates Westside,one of the many growing retail chains in India.

In 1998 Tata sold of their 50% stake in the cosmetic products company Lakm toHLL for Rs 200 Crore (approx. 45 million US$), and created Trent from the money itmade through the sale. All shareholders of Lakm were given different shares inTrent. Simone Tata, the chairperson of Lakm, went on to head Trent. The reasonbehind the sale was that Simone Tata saw a greater growth potential in retail, andbelieved that it would be much more difficult for an Indian company to release newcosmetic products in a market that had opened up to global companies.

The company has a turnover of Rs. 357.6 crores and currently operates 47 stores in

the major metros and mini metros of India. An international shopping experience, aperception of values, and offering the latest styles, has created a loyal following forWestside's own brand of merchandise.

Westside operates stores in Mumbai, Navi Mumbai, Ahmedabad, and Bangalore.Delhi, Chennai, Kolkata, Hyderabad, Pune, Surat, Vadodara, Indore, NoiGurgaon, Ghaziabad, Mysore, Jaipur, Lucknow, Nagpur, Kanpur.


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Customer Relationship Management (CRM):-

It consists of the processes a company uses to track and organize its contacts with itscurrent and prospective customers. CRM software is used to support these processes;information about customers and customer interactions can be entered, stored and

accessed by employees in different company departments. Typical CRM goals are toimprove services provided to customers, and to use customer contact information fortargeted marketing. While the term CRM generally refers to a software-basedapproach to handling customer relationships, most CRM software vendors stress thata successful CRM effort requires a holistic approach.

CRM initiatives often fail because implementationwas limited to software installation, without providing the context, support andunderstanding for employees to learn, and take full advantage of the informationsystems. CRM can be implemented without major investments in software, butsoftware is often necessary to explore the full benefits of a CRM strategy. Otherproblems occur when failing to think of sales as the output of a process that itselfneeds to be studied and taken into account when planning automation Overview Fromthe outside, customers interacting with a company perceive the business as a singleentity, despite often interacting with a number of employees in different roles anddepartments. CRM is a combination of policies, processes, and strategiesimplemented by an organization to unify its customer interactions and provide ameans to track customer information.

Westside provides four levels of service:-

Self service- self service is the corner stone of all discount operations. Many customer are willingto carry out their own locate compare select process to save money

Self selection- customer find own goods, although they can ask for assistance

Limited Service- Westside also offers services like credit, merchandizing etc.

Full Service- Sales people are ready to assist to any phase of the locate compare select process.Customers who like to be waited own prefer these type of stores.

Marketing Strategies adopted by Westside

Attract shoppers & keep them in stores- the amount of time shoppers spend in a store is perhapsthe single most important factor in determining how much they will buy.

Dont make them hunt- put the most popular products up front to reward busy customer &encourage them to look more.

Womens need more space- A customer specially a woman is far less likely to buy an item if herderriere is brushed by any other customer.


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2.STATEMENT OF PROBLEM

In retailing the biggest challenge is to Know and understandtheir customers on an individual basis and to Communicate withthem in a relevant way; And how to Manage offerings so thatthe customers experience is enhanced through effectivecustomer relationship management practices compared to whatthey have ever had before with the client or with anyone else.


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3.Objectives of the Study

To study the nature of CRM program of Westside.

To study the contribution of CRM program of Westside in

total revenues.

To analyze the customer response to Westsides CRM

Initiatives.


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4. Research Methodology

Research methodology is considered as the nerve of the project. Without a proper well-organized

research plan, it is impossible to complete the project and reach to any conclusion. The project

was based on the survey plan. The main objective of survey was to collect appropriate data,

which work as a base for drawing conclusion and getting result.

Therefore, research methodology is the way to systematically solve the research

problem. Research methodology not only talks of the methods but also logic behind the methods

used in the context of a research study and it explains why a particular method has been used in

the preference of the other methods.

Data Collection:

This report was prepared after collecting data from the retailers and customers and past data was

arranged from the various studies conducted in last few years and various other records of

company and also from customers survey.

Primary Data:

These data were collected by personal interview with retailers and customers. For this purpose

questionnaires were prepared in such that all necessary data would be collected.

Secondary Data:

Information regarding the project, secondary data was also required. These data were collectedfrom various past studies and other sources of the company and some information will becollected from internet.


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Synopsis Westside Niks

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