ROGE - Pune 2011 - The Academy of Business and Retail ...

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International Conference on the Restructuring of the Global Economy, PUNE 1-2 February, 2011 et al, 2006, p-76). Indeed, this is reflected in corporate advocacy of many reputed organizations-Microsoft for example. The contention here is, therefore, CRM should be aligned with an organisation’s communication strategy. This paper examines the nature of Customer Relationship Marketing (CRM), its definitions in various business context, and various schools of thought based on existing literature. A holistic definition of CRM is established and seven (7) schools of thought have been discussed with major themes and contexts. XII. Out of Stock Conditions Affecting Customer Satisfaction and Customer Loyalty Jayanthi Ranjan and Sandeep Puri, Institute of Management Technology, Raj Nagar, India Abstract In the retail industry, customer experience, satisfaction and service are going to become the limiting differentiators. Increasing competition is creating pressure on retailers to improve both inventory turnover and customer service. Poor logistic management can result in either over stocking (leading to cash flow problems and unnecessary discounts) or lost sales due to stock outs. Stock outs can have serious impact on the business as it affects retailer’s credibility and consumer’s satisfaction. It is important to understand the cost of a retail stock out before the implementation of any retail inventory model. This paper gives valuable insights about customer value, satisfaction and loyalty that can be used by retailers in designing their logistics and inventory models. First, it examines the relationship between customer loyalty, customer value, customer satisfaction, logistics value and out of stock conditions. Second, it explores the role of improved inventory control and the logistics management on customer service. Finally, this study provides valuable insights to retailers on managing consumer’s store attitude by making more informed and rationalized decisions regarding retail product offering and relevant environmental variables. XIII. Retail Fraud Management Strategies in Organized Retail Sector in Pune Kirti Gupta, Institute of Management & Entrepreneurship Development (IMED), Pune, India Abstract In recent years, India is ranked as a very attractive destination for retail investment. At the same time, according to the Global Retail Theft Barometer (GRTB) 2009, India recorded a shrinkage of 3.2% of the total size of the country's retail industry (including the unorganized sector), amounting to about $2.6 billion which is very high as compared to other global markets like the US (1.6%), the UK (1.4%), and China (1.1%). Shrinkages comprise of different categories of frauds and attributable to various factors of which employees and vendors are the critical ones. Since Indian markets is showing high growth potential in the retail sector, such a high rate of shrinkage levels indicate increasing losses due to shrinkages in the future. Therefore, shrinkage or fraud in retails is a major cause for concern for the retailers and
International Conference on the Restructuring of the Global Economy, PUNE 1-2 February, 2011 management of retail fraud becomes imperative. Since the city of Pune is characterized by phenomenal growth in the retail market, it is also bound to face the challenges posed before this emerging market. Retail fraud is one such aspect and it is felt that indepth study of the same would be significant contribution. This paper aims to study the different aspects of retail fraud along with the challenges faced and strategies involved in management of Retail Fraud in organized retail segment in Pune. XIV. Determinants of Customer Relationship Management for Pharmaceutical Industry Pallavi Bhatia, Shubham Nandawana, Sudhir Sharma, Insititute of Health Management Research, Jaipur, India. Abstract Customer relationship management (CRM) is a widely-implemented strategy 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 study examine the determinants of CRM in Pharmaceutical Industry. A descriptive study of medical representatives in Jaipur was conducted. Data was collected through Self-designed Questionnaires based on 1 to 5 likert scale. Data was than analyzed through various tools of analysis. It was found that the reliability value i.e. 0.923 is higher than the standard value, so the scale is highly reliable. Through factor analysis major eight factors were analyzed. These factors are personal information, Links, Educational Background, Prescription Style, Information Availability, Nature of Job, Practice and Success This study has resulted in standardized questionnaire to evaluate determinants of CRM specifically for Pharmaceutical Industry, along with these the study has resulted into eight factors that are determinants for maintain good relation with the doctors which includes personal information, Links, Educational Background, Prescription Style, Information Availability, Nature of Job, Practice and Success. The information that is being conveyed by these determinants is that as to how these factors affect the relations. 14.00PM-14.30PM KEY NOTE SPEAKER Shaju Jose, Ida Scudder School, Vellore, Tamil Nadu Shaju Jose was born in Madampam, a village in rural Kerala. He read Economics at Calicut University, Kerala and upon graduation went on to Nagaland University where he completed a Bachelor of Education degree. With his first for further study he pursued post-graduate study in Economics at Madura Kamaraj University. Upon completing these studies he was appointed as a lecturer in Economics at the Labour India International Public School and Junior College, Kerala where has been did sterling work inspiring colleagues and students alike as to the value and relevance of economics. He currently works as a lecturer at the Ida Scudder School, Vellore, Tamil Nadu. Ever eager to ensure that economics is both relevant and
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