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Impact of Customer Relationship Management on Improving Customer Satisfaction & Loyalty in Pharmaceutical & Healthcare Industry; A case study on GlaxoSmithKline

Harvard, 12500 Words

Abstract

 

The research is base on the impact of customer relationship management on improving customer satisfaction and loyalty in pharmaceutical and healthcare industry. GlaxoSmithKline, the most successful British company who are quite good in there track. Though the CRM of GlaxoSmithKline achieves the customer satisfaction and loyalty, some methodologies are discussed in this study for enriched the CRM of GlaxoSmithKline. There are some survey and questionnaires for the research. About 46 employees are selected randomly for the primary questionnaire survey and 4 managers are selected for interview survey. The research found that employees are in a good CRM and they try to improve the customer satisfaction and loyalty. Furthermore, there are some dissatisfaction in customer. Customers are not getting the ultimate service from GlaxoSmithKline. The citizen of some states cannot get the proper information of their medicine. Such as, how they take the medicine, the proper utilization and the side effect of the medicine etc. GlaxoSmithKline wants to provide their customer a good service and this research will help GlaxoSmithKline to improve the customer relationship management.

 

 

Table of Contents

Acknowledgement

Declaration

Abstract

1        Chapter 1: Introduction

1.1       Background of the Study

1.2       Rationale of the Study

1.3       Research Aim and Objectives

1.4       Research Questions

1.5       Conclusion

2        Chapter 2: Literature review

2.1       Introduction

2.2       Theoretical Foundation of CRM implementation

2.3       CRM Tools

2.4       Customer Satisfaction

2.5       Customer Loyalty Pyramid:

2.6       Satisfaction VS Loyalty

2.7       Impact of Customer Satisfaction & Loyalty

2.8       Conceptual framework

2.9       Research Hypothesis

2.10         Summary of the literature

3        Chapter 3: Research Methodology

3.1       Introduction

3.2       Research Philosophy

3.2.1        Justification of Research Philosophy

3.3       Research Approach

3.3.1        Justification of research approach

3.4       Research Method

3.4.1        Justification of Research Method

3.5       Research Strategy

3.5.1        Justification of Research Strategy

3.6       Data collection Technique

3.6.1        Primary Data Collection

3.6.2        Secondary Data Collection

3.7       Sampling Technique

3.7.1        Justification of Research Technique

3.8       Data Analyzing

3.9       Research Reliability and Validity

3.10         Ethical Consideration

3.11         Limitation of Methodology

3.12         Conclusion

4        Chapter 4: Findings, Analysis & Discussion

4.1       Introduction

4.2       Respondents’ Demographic Information

4.3       Survey Findings & Analysis

4.3.1        Factors of WOM

4.3.2        Word of mouth

4.4       Correlation Analysis

4.5       Regression Analysis

4.6       Hypotheses Testing

4.7       Discussions of the Results

4.8       Word of mouth at GSK organization

4.8.1        Impact of WOM on customer decision to choose the service company

5        Chapter 5: Conclusion

5.1       Concluding Remark

5.2       Summary of Objective based findings

5.3       Recommendation

Reference

Appendices

Appendix A: Questionnaire

Appendix 2: Questionnaire

 

 

 

 

 

 

 

 

List of Tables

Table 4.1: Demographical features of the respondents. 18

Table 4.2: Expressive information of Consumers’ Gratification. 19

Table 4.3: Expressive measurements of Consumers’ Devotion. 21

Table 4.4: Graphical measurements of the nature of service. 22

Table 4.5: Eloquent measurements of perceived value. 24

Table 4.6: Graphic measurements of Customers’ Trust 26

Table 4.7: Expressive information of consumers’ Word of mouth (WOM) 27

Table 4.8: Correlation coefficients of the investigation variables. 29

Table 4.9: Multiple Regression Analysis. 31

Table 4.10: Single Regression analysis. 31

4.11: Hypotheses Testing Summary. 32

 

List of Figures

Fig.4.1: Customers’ Satisfaction Level to GSK.. 19

Fig.4.2: Consumers’ Devotion to GSK.. 21

Fig.4.3: Clients’ Opinions towards Service quality of GSK.. 22

Fig.4.4: Customers’ Perceived value against services of GSK.. 24

Fig.4.5: Customers’ Trust to GSK.. 26

Fig.4.6: Customers’ Word of mouth about GSK.. 27

Fig.4.7: Consumers’ reactions on influence of NWOM & PWOM on association. 29

 

 

 

1         Chapter 1: Introduction

1.1        Background of the Study

Customer relationship management (CRM) is very essential part for every sector of any company for improving customer satisfaction and make the customer loyal. Company like pharmaceutical or healthcare, Customer relationship management (CRM) helps to achieve the ultimate goals and objectives (Kostojohn et al., 2011). The customer satisfaction is a crucial issue. Effective Customer relationship management (CRM) not only enhance the customer satisfaction but also develop the quality of product. The pharmaceutical industry is undergoing an enormous transformation process. The rising costs and increased complexity of the pharmaceutical network combined with the emergence of new business models on the Internet are putting the healthcare sector under enormous pressure. These days, pharma marketers cannot rely solely on reaching physician clients via sales reps and print journal ads. Digital channels — including the Web, social media, and mobile — are increasingly being used by physicians to access information about pharma brands. An evolution is underway. As the industry faces new technologies and economic changes, many companies have begun to experiment with the concept of customer centricity, otherwise known as customer relationship management. CRM’s value to pharma companies is not just a near-term increase in sales or market share. It is also the integration of insights and the long-term development of relationships with customers who may one day buy products that don’t exist yet. That requires a fundamental transformation from a product-centric business to a customer-centric one.

Along with the high demand of medicine and healthcare in the world market, it is very much important to maintain the customer relation management which gives a great value to the productivity for any pharmaceutical company like GlaxoSmithKline. GlaxoSmithKline is the one of the best and largest pharmaceutical industry among the top 5 pharmaceutical companies in the world drug market. GlaxoSmithKline maintains around 7% of the whole pharmaceutical market.  They are supplying their medicine in 120 countries. So it is a big number for any company and that means they have a huge number of loyal customer. GlaxoSmithKline has a strong customer relationship management (CRM) department and the aim and goal of this department is to gain customer satisfaction by which the customer will be loyal and the sales that means the revenue will be booming. This research will disclose the main issues and factors of CRM. The core duty for any company is to provide the quality products and services to the customers and this idea comes from CRM (Greenberg, 2010). The CRM teaches how to cope up with the situation and maintain that. The CRM makes relation with the impact of customer relationship management and customer satisfaction and loyalty. The company will be in the market till they have a good number of loyal customer. CRM makes customer loyal for the company (Rao and Sundarm, 2012).