CRM Future Group Retail.. References future group website and internet

1. Symbiosis Institute of Management Studies, Kirkee, Pune
EVALUATION SHEET
(COVER PAGE)
HOME ASSIGNMENT – I (Internal)
[Compulsory Submission for Internal Evaluation]
Subject Code : CRM Subject: Assignment 1
Batch : MBA ( E ) 2015-17 Weekend
PRN : 15020448099 Student Name : Pravin H Bhaise
Submitted to : Prof. Deepak Soman Signature of Student___________________
Evaluation:
Question 1 2 3 4 5
TOTAL
(Out of 30)
Marks
Allotted
Evaluated by : _________________________________________ Signature of Faculty
___________________
Date : _____17th Sept 2016

2. Topic: 1 CRM System Deployed In Future Group Retail Business
INTRODUCTION CUSTOMER RELATIONSHIP MANAGEMENT
Customer relationship management (CRM) is a widely implemented model
for managing a company‘s interactions with customers, clients, and sales
prospects.
It involves using technology to organize, automate, and synchronize
business processes principally sales activities, but also those for marketing,
customer service, and technical support.
The overall goals are to find, attract, and win new clients; nurture and retain
those the company already has; entice formerclients back into the fold;and
reduce the costs of marketing and client service.
Customer relationship management describes a company-wide business
strategy including customer-interface departments as well as other
departments. Measuring and valuing customer relationships is critical to
implementing this strategy.
BENEFITS OF CUSTOMER RELATIONSHIP MANAGEMENT
A CustomerRelationship Management system may be chosenbecause it is
thought to provide the following advantages:
 Quality and efficiency
 Decrease in overall costs
UNDERSTANDING THE FUTURE RETAIL BUSINESS
Future Group comprises operating businesses inthree sectors:Retail, Allied
Services and Finance. Leveraging a strong understanding and knowledge of
Indian consumer preferences, habits and aspirations, they have built some
of the most respected retail brands in the country. Overall retail business
across the value and lifestyle segments focuses on 4 key consumption
verticals: food, fashion, general merchandise and home.

3. As India‘s leading multi format retailer Future Group inspires trust through
innovative offerings, quality products and affordable prices that help
customers achieve a better quality of life every day
Future Value Retail Limited is a headed by Mr Kishor Biyani. This entity has
been created keeping in mind the growth and the current size of the
company‘s value retail business,led by its format divisions, Big Bazaar and
Food Bazaar. Great Place to Work® Institute! Has announced Future Retail
among the Top 50 India’s best companies to work for 2014,and among the
top 5 companies to work for in the retail industry.
FOUR ELEMENTS OF CRM AND FUTURE’s RETAIL STRATEGY
(1) KNOW: UNDERSTAND YOUR MARKETS AND CUSTOMERS
The world over, technology is influencing the way customers buy.
However, the bigger impactis on how technologyis changing the way
retailers sell.
The largest and the most successful retailers are focusing on omni
channel retailing - wherein they are platform agnostic. Future retail is
too is leading this transformation into an omni-channel retailer backed
By appropriate technology and a customer interface that is ‘made for
India.’ Big Bazaar Direct - a platform wherein associates orfranchisee
owners can reach out to customers not catered by physical stores and
book orders and collect money on customized tablets, is the first step
towards this direction.

4. It is now already present in 40 cities –many of them do not have a
physical Big Bazaar store. In the days ahead, this platform can
become a significant force-multiplier to our retail business. A robust
technology backbone is already being developed for omni-channel
retailing through partnership with SAP.
Future group has targeted the most commonly selling products and
services and made available at the affordable prices to reach the
exhaustively in each sector of the society.
(2) TARGET: DEVELOP THE OFFER
As the future retail is a decade old business they have the analysis and
statistics as to which sector of the customers need what and when!
Future group has focused on creating the newest of the offers which
ensures positive engagement of the customer through their retail
programs.
MAKING INDIA ‘thoda aur stylish’ -reinvented fashionbusiness and
this category has led the transformation of Big Bazaar during the past
year. And they are planning for adding up new category in clothes
section as infant wear and lingerie.
MAKING Food BEAUTIFUL – With the aim to catch more eyes on
the packaged food,snackbars,meal replacement,nachos overpotato
cheeps etc. Apart from tapping into the consumer demand at the
highest end of the market, Food hall is also helping the company
identify new and emerging trends in food retail ahead of the curve and
many of these learnings are helping shape the newer experience
within the food sections of Big Bazaar.
MAKING YOUR Home BEAUTIFUL- Home is where the heart is.
Future Retail has upgraded its entire store network to give a new look
and feel to the homes of every customer. General merchandize,
homeware and hard goods retailing forms a substantial part of the
company’s business and in line with the store renovation and the
merchandize revamps,these sections too have beengiven a new look
and feel.

5. TECHNOLOGY ENABLES OMNI CHANNEL RETAILING - Future
Retail’s Big Bazaar Direct, which is at a beta stage, has created a
platform wherein associates or franchisee owners can reach out to
customers not catered by physical stores and book orders on
customized tablets. In the past nine months, Big Bazaar Direct has
acted as a force-multipler in more ways than one.
SUPPLY CHAIN EFFICIENCIES – To ensure the customers getright
at decided timing future group also section Future Sucplly Chian
Solutions
Seva – BEAUTIFUL MINDS - ‘Retail is our religion, Customers are
our Gods and Stores are our temples’ – is the motto that drives the
organization. Future group discovered thatthe inspiration for an Indian
retailer has to come from Indian ethos. Thus was born the idea of
‘Seva’ as the corner stone for the organizational culture for dealing
with customers, colleagues and communities.
Seva - MAKING INDIA BEAUTIFUL - A large number of stores in fact
have now have set stellar examples that are emulated across the
network. For example, the monthly Annasantharpane initiative that
started in Mysore involved serving food by store employees to
customers and in return customers would donate according to their
wish to the cause of a chosen social organization in the area.
Future Retails have introduced packaged fruits and vegetables which
can even be branded tomorrow to provide a higher assurance of
quality and freshness for customers. Their new fashion merchandize
has attracted the attention of younger customers.
(3) SELL: ACQUIRE THE CUSTOMERS
To acquire the new customers future group is promoting the various
schemes like -
 Wednesday Bazaar
 End of season sale
 Brand offers with different brands
 Fruits and vegetables acts as a key footfall driver
 Announcements made by CR in stores

6. The positive
engagement can be
seen in one of the
instances when honor
of generating the single,
highest bill (and should
be also say the longest
one) forthe year goes to
Food hall store located
in Gurgaon.
Earlier in the year, a coffee connoisseur walked in to Foodhall’s
speciallybrewed coffee counter. The customerwas so impressed with
the coffee he had and with the enthusiasm of the team that he started
shopping. His final bill was of 321,401. The Foodhall team says the
secret was in the belief that any customer can be won over with the
right attitude.
(4) SERVICE: RETAIN THE CUSTOMERS (LOYALTY)
Future group has customerbase of millions across differencecities in
India and to engage them positively the various programs casted by
future group are –
 Future retail shopping card
 Future festive card
 Payback promotion
 Exchange Offers
 Accepting all debit and credit cards other than cash transactions
 Tie up with SBI and Axis Bank to offerup to 10% more discount
The customer loyalty programs offered at Future groups retail stores
are extended across all the formats of the group. During the year, the
total number of customers covered by their loyalty programs crossed
the 15 million mark, making it probably the largest loyalty program in
the country.

7. Future group have so far leveraged the loyalty programs for driving
promotions and direct communication with customers.They now plan
to move on to the next level wherein we aim to use the large amount
of knowledge and intelligence captured through the loyalty programs
to customize stores, merchandize and offerings and this again has a
power to transform the business.