Merchandising Strategies; CRM Homework Assignment Custom Essay

As competition intensifies amongst all retailers, one of the ways of maximizing their “share of wallet” is to develop Customer Relationship Management programs, otherwise known as CRM. It is critically important that students have an understanding of the “best practices” amongst retailers to include all systems used as well as social media components. This is quickly becoming a tool for retailers to establish a “sustainable competitive advantage.”

You will need to select 3 different types of retail formats, i.e. department store (upscale or mainstream), specialty store, discount department store, warehouse club, off price retail, flash sales site, service retailer etc. and thoroughly research what each of them is doing in terms of a CRM program. Therefore, in order for the assignment to be most beneficial, you will need to establish which retailers are using CRM most effectively. It will ultimately be a compare and contrast assignment of the 3 formats. This will allow for a better understanding of the power and importance of maximizing existing customers as well as developing an understanding of how and if the results are being measured.

In the end it has to have a compare and contrast table and a conclusion.