UNIT 3: CUSTOMER RELATIONSHIP MANAGEMENT ( Retail Management) PPT (Microsoft PowerPoint presentation)

 

 

MAXIMIZE SALES AND MAINTAIN RELATIONSHIP

 • Sales is the core objective of the business. In the retail business to increase sales, it is necessary to maintain the relationship with the customers. Business owners need to start by offering products and services.

 • MEANING OF SALES 

 • A sale is a transaction between the two or more parties in which the buyer purchases or receives tangible or intangible goods, services, or assets in exchange for money. In ancient times goods were exchanged with a barter system. But after the evolution of money transactions, it is exchanged for money. 

 • Meaning of CRM 

 • CRM is the business philosophy that deals with the set of strategies programs and systems, which focuses on recognizing and building faithfulness with a retailer’s highly valued customer. MAXIMIZE SALES

 • Business survival and growth is the challenge in the competitive environment. To sustain in the market, it is necessary to adopt various strategies. The business achieves its goals by increasing the sales of the organization. 

 • Ways to increase sales 

 • 1. Refine products or services: To increase sales, it is necessary to refine the products. Taking the feedback of the existing customers assists to improve the goods quality and services of the retailer.

 • 2. Identify ideal customers: Retailers should have to identify the customers. They have to focus on their target customers and identify new customers. 

 • 3. Improve the quality of the product to build customer loyalty: The quality of the product build the loyalty of the customers.

 • 4. Pricing strategy: Pricing plays an important role to sell the products and maintain the relationship with the customers.

 • 5. Effective marketing and sales strategy: Retailers adopt various marketing and sales strategy to boost sales.

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