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Implementation of CRM at Nike, Inc.

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Institutional Affiliations

Introduction

Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. Customer Relationship Management can be defined as the practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers (Petersoen, 2009). Implementation of Customer Relationship Management strategies has always been a difficult task for many organizations.

Problem Statement

Customers are very vital to the success of any business organization. With the increased competition, customers will be ready to shift their loyalty to another business organization if their current organization is to proving satisfying services. Easy of alternative has come with its own consequences. This therefore, necessitates that companies ensure that they get as much information as possible about their customers to enable them provide such people with exactly what they would wish for. This paper will be using the information provided in the diagram will develop a business case for implementation of Customer Relationship Management (CRM) in regards to Nike, Inc.

Analysis of the Situation

The situation is that the company have very few loyal customers as their customers often try other brands from other companies. This means that the current company brands and services delivery might not be satisfying to such clients. The company will therefore, gather relevant information on their current clients and potential clients to ensure through various channels such as social media, company database, and private and public databases. This information will then be condensed to find specific expectations of customers with regards to the brands and services of the company.

Risks and Rewards

The risks that are involved is the fact that sometimes the preference of a customer has changed and this is yet to be reflected in the various sources of data such as social media and company database. Therefore, the company end up with the wrong information about their customers and potential customers. The rewards are that the company will be able to markets itself according to the needs and expectations of their customers thus increasing customer loyalty. Another will reward will be the fact that the company revenues will rise as more customers will be able to find the services and brands of the company more satisfying that before.

Cost-benefit and return on investment analysis

The cost of doing such a research is not expensive compared to the long time returns and new customers will be expected and even the old customers will rebuild their loyalty to the company brands. This will lead to increase in revenues and therefore, growth of the company. This means that the benefits will outweigh the costs and therefore, that is a good investment for a company like Nike, which wants to create customer loyalty to its products.

Recommendations

1. That the customer relationship strategies should be reviewed on a periodic basis and customer preferences change from time to time.

2. The company should increase its marketing activities to help create more awareness about their products and brands.

References Petersoen, G. (2009). Customer Relationship Management. New York City: Wiley Publishers.