Title
The proposed title for the study is To Investigate the Importance of Customer Relationship in the Retail Market – A Case of Watsons Health and Beauty Service. This paper will show the different methods and approaches to be applied and implemented in order to meet the objectives of the proposed study.
Background of the Company
Watsons Personal Care Stores (Phils.) Inc. is part of the Health and Beauty Store chain of A.S Watson, the largest health, beauty, cosmetics, and perfumery retailer in the world. Today, Watsons H&B Asia is the leading health and beauty chain in the continent with successful operations in 9 markets (Hong Kong, China, Singapore, Malaysia, Thailand, Indonesia, Korea, Taiwan, and the Philippines).
In 2002, A.S. Watson Group joined hands with SM Prime Holdings Inc., the Philippines’ leading shopping mall developer. The partnership brought about the first Watsons stores in SM Megamall and The Podium (Ortigas). Today, Watsons operates 170 stores in the Philippines serving more than 100,000 customers per day.
Watsons strives to ensure that their customers get the best value for their money through monthly promotions, special offers, and continuous consumer marketing programs. Each Watsons store houses nothing but the best brands from top manufacturers all over the world and also carries its own competitively priced, high quality private labels and brands. With more than 1000 brands ranging from medicines, cosmetics, and fragrances to personal care items and general merchandise, Watsons Your Personal Store delivers only the best health, wellness, and beauty solutions to each and every customer (http://www.watsons.com.ph/web/ph/aboutus).
Literature Review
With an ever-increasing competition for marketing dominance, many firms have utilized the customer relationship management (CRM) system for improved business intelligence, better decision making, enhanced customer relations, and good quality of services and product offerings. The underpinning of the customer-oriented managing concept is that identification and satisfaction of customer needs lead to improved customer retention, which is based on corporate profitability (Day, 1994 and Sivadas and Baker-Prewitt, 2000). They recognize the CRM system could carry into the foreseeable future of hyper-competition, and try to implement off-the-shelf CRM solutions for CRM planning as is done for enterprise resource planning (ERP) systems, e-commerce systems, and advanced database systems (Holland and Light, 1999 and Shao and Lin, 2002).
Aims and Objectives
The main aim of the study is to investigate the importance of customer relationship in the retail market. In line with this the following are the specific objectives of the study:
· To assess the current customer relationship activities in Watsons;
· To evaluate the different procedures and processes involved in customer relationship; and
· To recommend actions and strategies to be implemented in order to ensure competitive advantage in the retail market.
Methodology
Descriptive method will be used in the study. According to Creswell (1994) it can help in order to show the different facts that are connected with the nature of the status of the current problem or condition as it happens at the time of the study. This is the reason why, it is considered as one of the most applied methodology in most studies. Furthermore, it will also be helpful in order to offer logical use in the studies which focus on dissemination of information, at the same time, it can help in order to investigate based on normative standards. It will be helpful in order to focus on the practices which exist, beliefs and processes that are currently going on and the effects that are being felt and experienced, together with the trends that re currently developing (Best, 1907).
Sampling
The target population is 20 employees, staffs and managers or supervisors of 1 branch of Watson.
Data Collection
Survey questionnaire will be used in order to gather primary data from the respondents. Likert scales will be used, where in the respondents will be asked to rate the level of their agreements towards the statements given. This will also be advantageous because it will make filling up questionnaire a lot easier and faster.
The equivalent weights of the answers are:
Range Interpretation
4.50 – 5.00 Strongly Agree
3.50 – 4. 49 Agree
2.50 – 3.49 Uncertain
1.50 – 2.49 Disagree
0.00 – 1.49 Strongly Disagree
Data Analysis
All of the data will be evaluated with the use of SPSS software. Thus, in order to come up with the results and findings of the study, frequency, percentage and weighted mean will be calculated. The following are the formulas to be used:
1. Percentage – will be calculated in order to determine the magnitude of the responses to the questionnaire (Research Methods Knowledge Base, n.d.).
2. Weighted Mean
References
Best, J. W. (1970). Research in Education, 2nd Ed. Englewood Cliffs. N.J.: Prentice Hall, Inc.
Creswell, J.W. (1994). Research design. Qualitative and quantitative approaches. Thousand Oaks, California: Sage.
G.S. Day, The capabilities of market-driven organizations, Journal of Marketing 58 (1994) (4), pp. 37–52.
E. Sivadas and J.L. Baker-Prewitt, An examination of the relationship between service quality, customer satisfaction, and store loyalty, International Journal of Retail and Distribution Management 28 (2000) (2), pp. 73–82.
C.R. Holland and B. Light, A critical success factors model for ERP implementation, IEEE Software 16 (1999) (3), pp. 30–36.
B.B.M. Shao and W.T. Lin, Technical efficiency analysis of information technology investments: A two-stage empirical investigation, Information and Management 39 (2002) (5), pp. 391–401.
Credit:ivythesis.typepad.com
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