StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Difference in Customers Purchasing Behavior - Research Paper Example

Cite this document
Summary
This research paper "Difference in Customers Purchasing Behavior" proposes research to investigate the significance of customer relationship management to profit-making organizations. The need for certainty, accuracy, and validity in processes requires investigations…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER99% of users find it useful
Difference in Customers Purchasing Behavior
Read Text Preview

Extract of sample "Difference in Customers Purchasing Behavior"

?Research proposal part Introduction Need for certainty, accuracy, and validity in processes requires investigations for understanding the processes’ underlying concepts. Social research defines a systematic approach to knowledge development for such undrstanding. This paper proposes a research to investigate significance of customer relationship management to profit making organizations. Research topic and research question The research seeks to explore the topic of customer relationship management in profit-oriented organizations. The proposed research question is, ‘Is there a significant relationship between application of customer relations management and organizations’ marketing success among medium sized organizations?’ The research intends to investigate behavior of consumers and personnel of medium sized organizations in Ontario, Canada, with respect to application of customer relationship management. Consumer behavior patterns may relate to volume of purchase from a single supplier or a shift from one supplier to another. The research will collect and analyze data over a span of one and a half years. Sales, profitability, and developed opinion towards the application will be applicable indicators. The research question explores data to determine whether, or not, application of customer relations management helps managements to influence customers’ behaviors with respect to decisions to purchase, and the volume to purchase and to empower personnel. In order to answer the research question, the study will test the following set of hypothesis. Null hypotheses H01 : There is no significant difference in customers purchasing behavior between organizations that use customer relationship management and organizations that do not. H02: Managements do not appreciate implementation of customer relationship management. H03: Application of customer relationship management does not improve sales. Alternative hypotheses These correspond to the following alternative hypotheses respectively. HA1 : There is a significant difference in customers purchasing behavior between organizations that use customer relationship management and organizations that do not. HA2: Managements appreciate implementation of customer relationship management. HA3: Application of customer relationship management improves sales. Justification of the research question The study of consumers’ behavior through customer relationship management, a process of collecting, analyzing, and monitoring information on customers’ behavior, is important to different stakeholders. It for example allows managements to understand what their customers may need and forms a basis for meeting the needs. Consequently, it influences the organizations’ behavior on how to handle customers through service delivery and determination of the type of products to stock at any given time. An understanding of the management’s approach is also important to consumers who stand to benefit from improved utility through provisions of goods and services that meet consumer’s preference. Answering the research questions positively will therefore promote application of customer relationship managements among the enterprises to improve their competitiveness and at the same time improve customers’ utility (Michael, Douglas and Niels, p. 1). Literature review Customer relationship management is an emerging approach that deals with the relationship between organizations and their customers. It applies customers’ information to study behavior for decision-making that aims at improving the relationship between an organization and its customers. Even though it largely relies on information technology, the application has a number of advantages that identifies its significance to all forms of business organizations. It is further feasible to different capacities of organizations. The application is for example economical and can be easily and readily adapted to different technologies besides its availability. Its major significance is however because of its ability to develop data on consumers’ information that is applicable in studying the group’s behavior. The management approach is also fast because of the possible instant data collation (Rai, p. 60). In a research to investigate the significance of customer relationship management among banking institutions, it was established that elements of customer relationship management such as a management’s devotion, developing the relations management as a process and its reliable implementation, have positive effects of meeting customers’ expectations. The research further established that a reliable ‘customer relationship management’ approach induces customer’s commitment to an organization’s products and in effect influence their purchasing patterns (Padmavathy, Balaji and Sivakumar, p. 1). A research on the significance of application of information technology by sales persons also indicated benefits of customer relationship management’s analytical approach in improving the personnel’s effectiveness towards higher sales volumes. The research findings established the significance of the management approach in empowering individuals to understand customers’ behavior and needs, and in turn develop and apply appropriate methodologies to satisfy the consumers (Michael, Douglas and Niels, p. 1). A study on the effect of applying the management approach on organizations’ costs and revenue economics also identified increased cost but higher levels of revenues and profitability (Krasnikov, Jayachndra and Kumar, p. 68- 70). The literature therefore identifies benefits of the management approach among organization but the approach is still not popular among middle scale business in Ontario. The research therefore seeks to establish the approach’s significance among the medium sized businesses within the geographical boundary. Conceptualization The research is based on the concept that organizations’ application of customer relationship management offers diversified social based benefits to the organizations’ personnel and the organizations’ target customers as well as economic advantages to the organizations. The concept is measurable through the different groups’ rational ratings as well as physical measures on sales and profit levels. Operationalization In order to explore the hypotheses, the research proposes to sample medium sized organizations in Ontario and to seek permission from each management for data collection on their monthly sales and revenues results, and personnel rationale on efficiency and effectiveness of success in sale initiatives. Data will then be collected and analysis done by organization’s application of customer relationship management. Analysis will explore difference in results between organizations that have already implemented customer relationship management and those that have not. The research will therefore consider two tests. One will investigate application of the management approach as the independent variable and sales and revenues as dependent variables. The second test will analyze application of the approach as the independent variable and personnel’s perception of involved processes as dependent variable. Data collection plan The research proposes a simple random sampling, a probability sampling in which each element has an equal probability of being selected. The sampling strategy is preferable because it eliminates bias and is representative of the population. Its results can therefore be generalized with validity. The random sampling approach will be applied in selecting organizations and members of each organization to participate in the research (Babbie, p. 9). Conclusion I am therefore prepared for the actual research process and guarantee a successful implementation. Works cited Babbie, Earl. The practice of social research. Belmont, CA: Cengage Learning, 2012. Print. Krasnikov, Alexander, Jayachndra, Satish, and Kumar, V. “The impact of customer relationship management implementation on cost and profit efficiencies; Evidence from the U.S. commercial banking industry.” Journal of Marketing 73 (2009): 61- 76. Michael, Ahearne, Douglas, Hunges, and Niels, Schillewaert. “Why sales reps welcome information technology: Measuring the impact of CRM-baset IT on sales effectiveness.” International Journal of Bank Marketing Research in Marketing 24.4 (2007): 336- 349. Padmavathy, C., Balaji, M., and Sivakumar, V. “Measuring effectiveness of customer relationship management in Indian retail banks.” International Journal of Bank Marketing 30.4 (2012): 246-266. Rai, Alok. Customer relationship management: Concepts and cases. New Delhi: PHI Learning Pvt. Ltd, 2008. Print. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The purpose of this assignment is to apply the skills learned Research Paper”, n.d.)
The purpose of this assignment is to apply the skills learned Research Paper. Retrieved from https://studentshare.org/sociology/1461712-the-purpose-of-this-assignment-is-to-apply-the
(The Purpose of This Assignment Is to Apply the Skills Learned Research Paper)
The Purpose of This Assignment Is to Apply the Skills Learned Research Paper. https://studentshare.org/sociology/1461712-the-purpose-of-this-assignment-is-to-apply-the.
“The Purpose of This Assignment Is to Apply the Skills Learned Research Paper”, n.d. https://studentshare.org/sociology/1461712-the-purpose-of-this-assignment-is-to-apply-the.
  • Cited: 0 times

CHECK THESE SAMPLES OF Difference in Customers Purchasing Behavior

Consumer Behavior and Purchasing Decisions

The paper "Consumer behavior and Purchasing Decisions" states that consumer behaviour especially when it comes to the purchasing aspect of decision making has definitely been placed as a factor that business people can't afford to ignore in their pursuit of a wider customer base.... In the business spectrum, business people survive through their capacity to develop products that align with the expectation of their customers all over the world (Trocchia & Luckett, 2013, p....
11 Pages (2750 words) Essay

How Cognitive Dissonance Impacts Repurchase Intention

The research helps to understand various aspects of cognitive dissonances and their relationships with the customers' purchasing behavior.... The concept of cognitive dissonance is much important for organizations because it can significantly impact the customers' post purchasing behavior (Hamza & Zakkaria, 2012).... If there is a way to reduce the dissonance that a consumer feels after purchase behavior, it could lead to positive impacts for the consumer and businesses....
8 Pages (2000 words) Research Paper

Consumer Behavior: Observational Research Term Paper

The important variables or aspects that have been used for the study embraced the food items purchased by the consumers, the time as well as the frequency of their purchase, the behavior of buyers at different stalls and the difference in the pattern of order making.... This essay Consumer behavior: Observational Research Term Paper talks that the notion of conducting market research is one of the key constituents for a marketer to determine the consumer behavior....
9 Pages (2250 words) Term Paper

Consumer Behavior in the Sandwich Market

This paper ''Consumer behavior in the Sandwich Market'' tells us that Prêt New Street Branch is part of a well-established and strongly branded group operating in a market that is performing reasonably well.... Given the challenges that Pret faces in this scenario, this report attempts to provide an understanding of drivers of consumer behavior in this market and use it to establish any differentiators that Pret can use to position itself as being unique from its competition and hence increase footfalls at its outlet....
20 Pages (5000 words) Assignment

Differences in Marketing products or Services to Organisations and Customers

It is difficult for the marketers to adopt the same tactics for both an organization and an individual because of the above difference in purchasing styles.... “Whatever stereotypes you might have from experiences with salespeople in consumer sales, any negative stereotypes of salesperson behaviour probably would not be appropriate in dealing with professional buyers” (PERSONAL SELLING: ORGANIZATIONAL BUYING behavior) ... “PERSONAL SELLING: ORGANIZATIONAL BUYING behavior”....
2 Pages (500 words) Essay

Assessing the Outcomes of Generation Y Customers Loyalty

The review "Assessing the Outcomes of Generation Y customers Loyalty" focuses on the critical analysis of the dynamics and elements that influence loyalty and satisfaction of Generation Y through a search of the existing literature.... Since there is always major competition for the older customers, banks are now shifting their focus to the younger people with appropriate strategies to retain them and also develop a strong loyalty to their brands.... On the other hand, reaching customers at younger ages leads to strong relationships with the organization....
11 Pages (2750 words) Literature review

Purchasing Behavior

This research proposal "purchasing behavior" aims to assess the various factors that could possibly impact consumer purchase behavior.... purchasing behavior is complex and there may be many factors.... It also aims to assess the differences that may be between front line behavior at retail outlets and service outlets and how this impacts consumer behavior.... There are two approaches to consumer behavior.... The first is positivism that regards the consumer behavior discipline as an applied marketing science, while interpretivism is a postmodernist approach to consumer behavior that tends to focus on the act of consuming rather than the act of buying....
7 Pages (1750 words) Research Proposal

Influence of Personality of Consumers on their Behaviors

Consumer behavior is the process of how different individuals and organizations select and make a decision.... Consumer behavior focuses on how people come up with resolutions on how to spend their time money and efforts when buying goods and services (Schiffman and Kanuk, 1997).... Personality in consumers means the distinctive dynamic individualities of a particular person, objective and mental, which affect behavior and reactions to the societal and physical setting (Brown et al....
8 Pages (2000 words) Literature review
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us