Discuss about the Business Research for Research Method Proposal.
Customers are the best judges to evaluate whether the marketing techniques implemented by the organizations are fruitful to draw the customers or not. The organizations take a lot of effort to draw the customers, however, it has been seen that once the companies are able to attract the customers, they do not give the similar efforts to relation the customers (Wang and Feng 2012). Due to lack of actions on the part of the companies, at times, the customers do not tend to remain loyal to the organizations. At times, the markets tend to overlook the importance of customer retentions program and eventually, the business of the organizations deteriorates (Kumar and Reinartz 2012).
Thus, it is important that the organizations build a close relationship with the customers, fulfill their demands, and needs so that the customers will start trusting the marketers. it is important for the organization to implement the necessary measures so that the customers will come back to the company (Herhausen and Schögel 2013). The stronger the relationship will be between the customers and the organizations, the stronger the business will become. Thus, the research will be carried to out to measure the importance of the relationship marketing and the way it will be helpful for the companies in the emerging market to work for the enhancement of the business.
The main aim of the research is to study the customer relationship marketing by the companies in the emerging markets. The aim of the research is to further study whether there will be localization in the relationship marketing techniques to handle the customers in the market.
The objectives of the present research are:
To study the customer relationship marketing techniques as incorporated by the companies in the emerging markets
To study whether the steps taken by the organization to promote a good relationship among the customers are localized in nature
To study whether the customer relationship marketing techniques are more important for the organizations rather than acquiring the customers
It is important for the companies in the emerging markets to incorporate different types of marketing to attract the customers and maintain a relationship with the customers. To retain the customers, it is important companies to indulge into relationship marketing to retain the customers. Ndubisi Emmanuel Chidozie and Nwankwo Cosmas Anayochukwu carried out a research, to study the relationship marketing incorporated by the banks of Nigeria. The authors studied four banks, Zenith bank, Guarantee bank, First bank and Diamond bank. As the level of competition between the banks is high, hence it was important for the banks to indulge some unique types of marketing to retain the customers (Chidozie and Anayochukwu 2012). Pearson correlation is being used to study the importance of relationship marketing. It was found that once the banks took care of the customers by providing different options for banking and making the transactions easier, the customers will also feel satisfied and will go back to the banks. Thus, it can be said that relationship marketing is directly proportional to the customer satisfaction.
In one of the article by Dr. G. Shainesh & Ramneesh Mohan, Status of Customer Relationship Management in India highlights that the companies spend six times more in acquiring the customers rather than retaining the customers. Due to the growth of competition in the market, it has been seen that the importance of relationship is growing gradually (Shainesh and Mohan 2012). Once, the companies give more attention in retaining the customers by building a relationship with the customers, it is expected that the business of the companies will also rise accordingly. The authors mainly surveyed three types of industry to study the relationship marketing process that have been adopted to retain the customers in the company. A number of approaches have been found out that helps an organization to retain the customers in the market:
Quality assurance process
Customer centric business processes
Customer centric IT
Employee empowerment
Customer Knowledge Strategy
Strategy for collecting the information of the customers
Strategy to combine the customer information with the experience to gain knowledge
Individualized marketing programs
It has been expected that the approaches will help an organization to retain a good relationship with the customers and eventually will contribute to enhance the business of the organization through customer satisfaction.
The commitment-trust theory of relationship marketing will be best suited for any organization and at any point of time (Morgan and Hunt 1994). The commitment on the part of the company will eventually build up the trust in the customers. Every company commits to the customers regarding the quality of the products. The customers believe in those commitments and make the purchase. However, it would be the duty of the marketers to follow up with the customers on a regular basis and ask about their feedback. The appreciations and grievances both should be taken positively. The appreciations will motivate the company to perform better, while the grievances will help them in enhancing the products so that the customers do not similar kind of complaints in future. Another word for commitment can be caring. Once the customers will feel that they are being cared, they will start building the trust on the company (Dennis and Marcus 2014). Trust is the feeling of a person when he or she feels that the opposite party would not do any harm to him or her. Once the company continuously delivers good quality products, they will build a trust that they will always get good quality products.
In the article, ‘Exploring the role of customer relationship management (CRM) systems in customer knowledge creation’, the authors, Farnoosh Khodakarami and Yolande E. Chan explores the impact of the customer relationship management on the customer knowledge creation (Khodakarami and Chan 2014). Four ways that can help in the development of the customer relationship management, namely, externalizations, internalizations, socialization and combination. As identified by the authors, the customer relationship management system can be divided into three parts, namely, operational, collaborative and analytical. To gain the knowledge about the customers and accordingly and fulfil their needs and demands, the proper implementation of the systems the applications should be followed by the organization. However, it is also important that the owners identify the correct pair of the system and the applications. It has been identified that when an organization works in collaborative system, it supports externalizations. Once an organization follows the operational system it aims at the secularizations with the customers. On the other hand, the collaborative system maintains socialization within the organization. Collaborative system along with analytical systems supports internalization as well as it believes in learning activities within the organization. Thus, is important for the owner of a company to choose the proper method of customer satisfactions and implement the applications accordingly.
In the article, ‘Profiting from customer relationship management: The overlooked role of generative learning orientation’ by Herhausen Dennis and Schögel Marcus the role of generative learning to create customer relationship (Dennis and Marcus 2014). The authors carried out the research in 199 firms to understand the importance of generative learning. It has been found that through generative learning, it has been found that the organizations is able to generate more customers, maintain more customers and able to establish a strong relationship with the customers. Thus, generative learning, which is at times overlooked by the managers of an organization, helps an organization to deal with the competition in the market by retaining the customers and eventually creating a strong foothold in the market.
Methodology of the research
Three types of research designs that are available to the researcher (Creswell 2013):
Explanatory
Exploratory
Descriptive
The exploratory research design deals with the past research works and helps the researcher to incorporate the new findings to reach the outcome. For the secondary research, the author has to take into account the past research works as well as incorporate something new by going through the statistics and data that have been published by any governmental organization. As the researcher carrying out a secondary research and studying the marketing conditions of the of the developing countries like, India, china, Nigeria and so on, hence , it is important that the researcher evaluates the past works and incorporates his or her own views in the research to reach the desired outcome.
Three types of investigations that are available to a researcher (Yin 2013):
Positivism
Interpretivism
Realism
Positivism is based on the statistics and the facts that are being presented in the research. The researcher will base the research on the facts and deduce the results based in those facts. Interpretivism based in the thought process of a group of people or the emotions of the human beings. When the researcher will take into account the emotions to reach the result, it is called Interpretivism. Finally, realism is based on both emotions as well as the statistics that have been retrieved by the researcher.
As far as the types of investigations is concerned, the research will take into account the positivism approach to carry out the investigations. When a researcher takes into account the facts and the statistics and bases the research on the figures that have been retrieved after a series of interviews and surveys, then that type of investigations is called positivism (Schwab 2013). The research is based in the marketing techniques in various counties. Thus, the researcher needs to take into account the human emotions of that area. The human emotions are helpful when the researcher is carrying out a research on social practices and norms. In this research, the researcher has to carry out the work entirely based on the statistics that will portray the importance of the relationship marketing. The figures will show the variation in the sales will be seen before and after the implementation of the customer relationship marketing. As a result, once the researcher has to study the importance of customer relationship marketing, positivism will be the best-suited investigations for the researcher.
It is important for the researcher to consider the techniques to carry out the research so that it is easier for the researcher to implement a proper way to carry out the research and reach the desired outcome of the project.
Two types of research approach are available to the researcher (Ritchie et al. 2013). Deductive research approach and the inductive research approach. In the inductive research approach the researcher, give rise to a new theory or model that is implemented in the present research. On the other hand, in the deductive research approach, the author deduces the previous theories to reach the result. In the present research, the researcher will take into account the deductive research approach; the person will go through the previous research works and make use of the theories that have been already mentioned. In the present research as well, the commitment-trust relationship marketing will be taken into account to describe the importance of the customer relationship marketing in the emerging markets (Nuttin 2014).
For the present research, the researcher will take into account the secondary research. The research is based in the United Kingdom, while the research will be based in the developing market. Thus, the researcher has to take into account the markets of India, China, Russia, Nigeria and so on. The previous researchers who have worked on the topic of relationship marketing to retain the customers will be taken into account (Green and Thorogood 2013).
The researcher will take into account both the quantitative as well as the qualitative data. The previous researchers have already carried out the research regarding the relationship marketing in the emerging markets. The statistics that have been obtained by the previous researchers will act as the quantitative data for the present researcher. The researcher can then analyze the retrieved data and compare the statistics of two or more research that have been carried out. The previous data will also be helpful for the organization to understand the growth of marketing and the way relationship marketing will be helpful for the organizations. The quantitative data will also have the feedback of the customers who have responded after the organizations have taken into account the relationship marketing techniques (Mertens 2014). If the steps taken by the companies to maintain a good relationship with them satisfy the customers, then it can be said that the steps taken to relationship marketing will be helpful for the organizations. The feedback of the customers from various countries will also help the researcher to reach a conclusion for the present research.
The researcher will also carry collect the qualitative data (Tesch 2013). The previous researchers have also taken the feedback of the marketers who have indulged in relationship marketing to rains the customers. The feedback of the managers of the organization after indulging in relationship marketing will help the researchers to understand in detail the effect of relationship marketing in the present scenarios.
To understand the importance of CRM in the developing countries there is a need to interpret the secondary sources of data related to it. The interpretation will be done as per the research question that has been designed for the project. The identification of a proper statistical analysis is important. The secondary data that is collected will be analyzed through the software packages that will help in handling complex sampling. If there is un-weighted descriptive it would be then used for identification of coding errors and for determining the sample size. The missing weights in the data must be set as zero for the correct evaluation of the results (Agarwal 2012). The data that has been collected needs to be diagnosed for the non-normality and outliers. The data needs to be summarized and the key findings need to be identified. It can be useful to group the data according to the evaluation goals so that the sources will be used for answering the questions. The interpretation of the secondary data will help in segregating the qualitative and the quantitative data so that any type of gap in the data can be identified. The real evaluation goals will help in reporting and interpreting the data (Cook 2012). For the correct interpretation, there is a need to compare the statistical outcomes with that of the real results, identifying of strengths and weakness of the program, recommending the changes for the advancement of the program and identification of strategies for intervention for specific target population
The secondary data that has been collected for the purpose needs to be validated and should be checked for reliability and generalizability. The information when it is valid has enough relevance to the research question. The validity will help in identifying precision while reliability helps in testing for reproduction. The data collected should be evaluated with respect to different criteria. The data should be correct and there should be no errors. The finding will have validity when the secondary data collected are from reliable sources. The data would be valid only if the findings of all the data collected are close to each other (Lind, Marchal and Wathen 2012). The authentic sources must be referred to when the data is collected. The data should not be too outdated otherwise, the reliability of the data will be destroyed and the correct findings will not be achieved. The data collected for this purpose is consistent. The facts do not vary from source to source. Sufficient time has been devoted to check for the reliability of the data so that a trust can be established. When the validity and reliability is inaccurate the purpose of the result will be very hard to derive (McKinney 2012). The levels of reliability can be measured through consistency. The reputation for the source is critical. The generalization act for this purpose is acknowledged through drawing of broad inferences from observing the data. The findings will have quality standard through the generalization.
The researcher will carry out a project where the customer relationship marketing will be studied in the emerging markets of the developing countries. It has been discussed that the researcher will carry out a secondary research as the data needed to be retrieved from the online sources where the feedback regarding the marketing techniques in the emerging countries will be studied (Miller et al.2012). As the researcher had to retrieve the online data, hence, the researcher might face with difficulties like getting access to the data. Many online sites do not allow the user to view the paper free. The users have to pay certain charge to be able to view the entire article. Thus, the chargeable sites will pose as threat for the researcher as the secondary data are the only data that will help the researcher carry out the work.
In such a situation, it is important for the user to maintain the ethics and do not indulge in hacking to retrieve the information form the sites. However, to carry out the research the researcher should be able to retrieve the data. At times, certain papers mention about the results and findings of the research in the abstract section. Thus, if the researcher is able to view the abstract of the research, the person might get an idea about the entire research. If the researcher comes across certain articles, which needs the user to pay the charge and the paper is important then the person pay the charge and see the entire article which can further be used for the research (Neuman and Robson 2012).
The time of publication of the articles is another issue. The researcher should incorporate only those articles, which have been published recently and poses the latest data (Zikmund et al. 2012). Old data or information will not be useful for the researcher to carry out the research work.
References
Agarwal, B. (2012). Basic statistics. Tunbridge Wells: Anshan.
Chidozie, N. and Anayochukwu, N. (2012). RELATIONSHIP MARKETING: CUSTOMERS SATISFACTION BASED APPROACH. 1st ed. [ebook] Available at: https://www.vnmpublication.com/IJIRM/December_2012/3.pdf [Accessed 17 Mar. 2016].
Cook, T. (2012). Data analysis & probability. San Diego, CA: Classroom Complete Press.
Creswell, J.W., 2013. Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications.
Dennis, H. and Marcus, S., 2014. Profiting from customer relationship management. Management Decision.
Green, J. and Thorogood, N., 2013. Qualitative methods for health research. Sage.
Herhausen, D. and Schögel, M., 2013. Profiting from customer relationship management: The overlooked role of generative learning orientation.Management Decision, 51(8), pp.1678-1700.
Khodakarami, F. and Chan, Y.E., 2014. Exploring the role of customer relationship management (CRM) systems in customer knowledge creation.Information & Management, 51(1), pp.27-42.
Kumar, V. and Reinartz, W., 2012. Customer relationship management: Concept, strategy, and tools. Springer Science & Business Media.
Lind, D., Marchal, W. and Wathen, S. (2012). Basic statistics for business and economics. New York: McGraw-Hill Higher Education.
McKinney, W. (2012). Python for data analysis. Sebastopol, CA: O’Reilly Media.
Mertens, D.M., 2014. Research and Evaluation in Education and Psychology: Integrating Diversity With Quantitative, Qualitative, and Mixed Methods: Integrating Diversity With Quantitative, Qualitative, and Mixed Methods. Sage Publications.
Miller, T., Birch, M., Mauthner, M. and Jessop, J. eds., 2012. Ethics in qualitative research. Sage.
Morgan, R.M. and Hunt, S.D., 1994. The commitment-trust theory of relationship marketing. The journal of marketing, pp.20-38.
Neuman, W.L. and Robson, K., 2012. Basics of social research: Qualitative and quantitative approaches.
Nuttin, J., 2014. Future time perspective and motivation: Theory and research method. Psychology Press.
Ritchie, J., Lewis, J., Nicholls, C.M. and Ormston, R. eds., 2013. Qualitative research practice: A guide for social science students and researchers. Sage.
Schwab, D.P., 2013. Research methods for organizational studies. Psychology Press.
Shainesh, D. and Mohan, R. (2012). Status of Customer Relationship Management in India. 1st ed. [ebook] Available at: https://www.decisioncraft.com/dmdirect/pdf/crmstatus.pdf [Accessed 17 Mar. 2016].
Tesch, R., 2013. Qualitative research: Analysis types and software. Routledge.
Wang, Y. and Feng, H., 2012. Customer relationship management capabilities: Measurement, antecedents and consequences. Management Decision, 50(1), pp.115-129.
Yin, R.K., 2013. Case study research: Design and methods. Sage publications.
Zikmund, W., Babin, B., Carr, J. and Griffin, M., 2012. Business research methods. Cengage Learning.
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