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

Table of Contents

1        Introduction

1.1       Research Aim

1.2       Research Objective

1.3       Research Questions

2        Literature Review

2.1       Theoretical Foundation of CRM implementation

2.2       CRM Tools

2.3       Customer Satisfaction

2.4       Customer Loyalty Pyramid

2.5       Satisfaction vs. Loyalty

2.6       Impact of Customer Satisfaction & Loyalty

2.7       Summary of the literature review

2.8       Conceptual Framework

2.9       Research Hypothesis

3        Research Design & Methodology

3.1       Types of Investigation

3.1.1        Research Philosophy

3.1.2        Research Approach

3.1.3        Research strategy

3.2       Data collection method

3.3       Sampling Method

3.4       Accessibility

3.5       Ethical Issues

3.6       Data Analysis Plan

3.7       Research limitations

4        Timetable & Reference:

5        Conclusion

6        References

 

 

List of Figures and Table

Figure 1: CRM strategy drives structure and technology (Anderson and Kerr, 2002) 6

Figure 2: Customer Loyalty Pyramid (Lowenstein, 1997) 8

Figure 3: Conseptual Framework, Source: (Wyse, 2012) 10

Table 1: Timetable (Self-made) 14

 

 

 

 

 

 

 

 

1        Introduction

In the industry of healthcare & pharmaceuticals, GlaxoSmithKline (GSK), a UK based company has always been the dominating one since December, 2000. It is now world’s one of the largest drug manufacturer & research based pharmaceutical concern. The firm now controls around seventy percent of the whole pharmaceutical market. It has also the largest research & development division.

The customer relationship management will ensure that the firm understands the customers and the strategic plans are customer oriented. It will make the customers happier than others who don’t get the same benefit. Even this will boost the sales in the organization. The researcher issues in of the paper is to identify the factors of customer relationship management (CRM) and its influences on customer satisfaction. Satisfying target customer and serving them with better quality product is the most important objective for every company. So, our issue that is evaluating the CRM activities is one of the major issue for the company. For coping with the challenging and competitive market of recent years, every company is trying their best to satisfy their customer. And this task is not easy without conducting CRM activities. In recent days, progression and immense use of technology has changed the lifestyle of customer. This research can shed light on several concurrent situation. For example, this study will illustrate the correlation between the impact of CRM and customer satisfaction and loyalty. It is important for this study to show how CRM can affect the business sustainability and make the company more profitable. However, this research will also show how customer thinks to the business organization and how it minimizes the cost of the organization through reducing the paper and pencil work.

1.1       Research Aim

The aim of the research paper is to understand the effectiveness of customer relationship management on improving customer satisfaction & loyalty in pharmaceutical & healthcare industry particularly. The research will try to figure out whether there is a correlation between CRM & customer satisfaction & loyalty. It will also focus on if the CRM is helping on the sustainability of business and making it more profitable.

1.2       Research Objective

The objectives of the research paper are as followings:

  • To explore the correlation between CRM & Customer satisfaction & loyalty
  • To prove how the CRM helps in business sustainability
  • To provide the implication of CRM in reducing cost and make more profit
  • To understand the importance of CRM in healthcare & pharmaceuticals industry
  • To recommend how to strengthen the CRM strategies
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