Our Archives
- Accounting 745
- Accounting Education 12
- Actuarial Science 5
- Adult Education 11
- African Languages 4
- Agricultural Business And Financial Management 5
- Agricultural Economics 17
- Agricultural Engineering 3
- Agricultural Extension 3
- Agricultural Marketing And Cooperatives 11
- Agricultural Science 3
- Agricultural Science Education 1
- Agronomy 1
- Anatomy 1
- Animal Production 3
- Animal Science 5
- Archaeology And Museum 2
- Architecture 4
- Atmospheric And Environmental Physics 2
- Auditing And Forensic Accounting 9
- Banking And Finance 549
- Biochemistry 3
- Biology 2
- Biology Education 16
- Biomathematics 2
- Botany 3
- Brewing Science 5
- Building Technology 17
- Business Administration 476
- Business Education 18
- Business Management 33
- Chemical Engineering 4
- Chemistry 6
- Chemistry Education 6
- Child & Basic Education 14
- Child Right 3
- Civil Engineering 8
- Clothing And Fashion 1
- Commerce 10
- Communication Arts 7
- Computer Science 231
- Computer Science Education 17
- Cooperative And Rural Development 4
- Cooperative Economics 24
- Criminology And Security Studies 22
- Crop Production 9
- Crop Science And Environmental Protection 3
- Curriculum Studies 5
- Defence Studies 7
- Disaster & Risk Management 6
- Economics 362
- Economics Education 14
- Education 2182
- Education Foundation 18
- Education Management And Policy 4
- Educational Administration And Planning 9
- Educational Measurement And Evaluation 5
- Electrical Electronics Engineering 12
- Electronic Accounting 17
- Elementary Education 2
- Energy Economics 4
- English Language Education 16
- English Literary Studies 27
- Environmental Biology 2
- Environmental Geochemistry 1
- Environmental Geology 2
- Environmental Science 9
- Estate Management 44
- Ethics And Civic Education 2
- Fine & Applied Arts 5
- Fisheries And Aquaculture 2
- Food And Nutrition 3
- Food Science & Technology 21
- Forestry And Wildlife 2
- French 22
- French Education 4
- Gender And Women Studies 5
- Genetics And Biotechnology 1
- Geography 2
- Geography Education 4
- Geology 5
- Geophysics 1
- Guidance Counseling 12
- Health & Sex Education 5
- Health Economics 8
- Health Education 50
- Health Environmental Education And Human Kinetics 6
- Health Information Management 7
- History & International Relations 31
- Home And Rural Economics 7
- Home Economics 5
- Hospitality And Catering Management 11
- Human Resource Management 268
- Human Right 1
- Hydrogeology 3
- Industrial Chemistry 8
- Industrial Mathematics 1
- Industrial Physics 1
- Information Technology 17
- Insurance 16
- Integrated Science Education 8
- International Affairs And Strategic Studies 6
- International Law And Diplomacy 24
- Islamic And Arabic Studies 3
- Journalism 8
- Law 16
- Library And Information Science 5
- Linguistics 2
- Marine And Transport 3
- Marine Biology 1
- Marine Engineering 4
- Marketing 152
- Mass Communication 288
- Mathematical Economics 2
- Mathematics 15
- Mathematics Education 10
- Mba Finance 8
- Mechanical Engineering 6
- Medical And Health Science 13
- Medicine And Surgery 2
- Microbiology 17
- Music 4
- Nursing 12
- Office Technology & Management 11
- Petroleum Engineering 4
- Pharmacy 3
- Philosophy 38
- Physics 21
- Physics Education 11
- Political Science 128
- Primary Science Education 2
- Production And Management 1
- Project Management 1
- Psychology 12
- Psychology Education 5
- Public Administration 35
- Public Health 29
- Public Relations 12
- Purchasing And Supply 11
- Pure And Applied Chemistry 1
- Quantity Surveying 13
- Radiography And Radiological Sciences 5
- Religious And Cultural Studies 7
- Science And Computer Education 7
- Science Laboratory And Technology 14
- Secretarial Studies 9
- Smes & Entrepreneurship 145
- Social Science And Humanities 1
- Social Studies Education 8
- Sociology And Anthropology 24
- Soil Science 3
- Sports 1
- Staff Development And Distance Education 4
- Statistics 36
- Surveying And Geo-informatics 3
- Taxation 64
- Teacher Education 8
- Technical Education 1
- Theatre Arts 4
- Theology 17
- Tourism And Hospitality Management 56
- Urban & Regional Planning 13
- Veterinary 1
- Vocational Education 17
- Zoology 4
- MBA-MSC-PGD Thesis research materials
- Click Here For More Departments »
Call 09159097300, or 09067754232 for any enquiries.
Project Topic:
CUSTOMER RELATIONSHIP MANAGEMENT AND COMPANY PERFORMANCE IN THE NIGERIAN FOOD AND BEVERAGES INDUSTRY
Project Information:
Project Body:
CHAPTER 1
INTRODUCITON
1.1 Background of the Study
It is observable that a number of organizations are excellent at appearing or pretending to care for their customers. Some companies only pay “lip service” to their customer satisfaction. Others are remote from their customers and do not listen to them, while still some other companies believe that because they have a customer service department or a customer service manager, they automatically have become customer-driven. The employees on their part behave in such a way that suggests that they are not empowered to satisfy the customers in terms of rendering excellent customer service.
Some food and beverages firms in Nigeria could be traced under some or all of these conditions. It is, therefore, suspected that most of them have not efficiently and effectively adopted Customer Relationship Management which may have resulted in their unsatisfactory Company performance. In the Nigerian Bottling Company Plc, Nwokah and Maclayton (2006) observed that the company in introducing new products such as Fanta Chapman and Black Current, which suddenly failed in the market place was not customer centric but competitive centric resulting to the failure of
these products in the Market place at the test marketing stage of product development process. Nwokah (2008) further noted that these products as cited from their bulletin were subsequently replaced with Fanta Pineapple and Lemon. Companies are now more than ever focusing on high customer retention and maintaining good long term customer relationships. Customer relationships management (CRM) is a highcustomer retention strategy. It is very important toknow more about customers’ needs and offercustomized products and services in order to improve
customer satisfaction and loyalty.
Two main strategies, collecting customers' profiles and promoting customer participation, are used to probe customers' needs. Customer Relationship Management (CRM) has attracted an expanded attention of practitioners and scholars. More and more companies are adopting customer-centric strategies, programs, tools, and technology for efficient and effective customer relationship management. They are realizing the need for in-depth and integrated customer knowledge in order to build close cooperative and partnering relationships with their customers. The
emergence of new channels and technologies is significantly altering how companies interface with their customers, a development bringing about a greater degree of integration between marketing, sales, and customer service functions in organizations. It is observable that a number of organizations are excellent at appearing or pretending to care for theircustomers. Some companies only pay “lip service” to their customer satisfaction. Others are remote from theircustomers and do not listen to them, while still some other companies believe that because they have a customerservice department or a customer service manager, they automatically have become customer-driven. Theemployees on their part behave in such a way that suggests that they are not empowered to satisfy the customersin terms of rendering excellent customer service.
In Nigeria, some food and beverages companies seem to have embraced CRM and its capabilities because of the greater competition in the industry. Large sums of money may have been invested in the promise of this CRM. Despite the fanfare and large expenditures, CRM may not have fulfilled its promise. While some executives view CRM as a technological solution, they often even focus myopically on installing the latest computer system and overlook critical business issues. According to Nnabuko (2004), companies that view CRM as a technological “silver bullet” fail to develop a comprehensive strategy while neglecting to build a business case for CRM. In the food and beverages industry, the technology or some other variables may have produced little operational improvements and so the dimensions of their marketing performance over the years seem not to be significant (Nwokah, 2009). When an investment fails to meet expected return, it may probably not be because the resources failed to perform as specified but because the customer’s need may not have been defined upfront and the wrong decisions and plans chosen. Smith (2007) declared that many firms have failed to create value from CRM and dissatisfaction is growing.
Customers are the most important factors for the success of any business but less attention has been given by many organizations in this regard. This paper aims to evaluate the effects of CRM on Company performance in the context of food and beverages firms in Nigeria.
1.2 Statement of Problem
Nigeria food and beverages industry are increasing in Nigeria, yet the level of failure in their services indicate that ineffective relationship with customer seems to be pronounced. Some of the manufacturing firms, especially the food and beverage companies that are still in business and are listed in Nigeria stock exchange find it difficult pay dividend to their shareholders. Notable example include Champion Breweries which has not paid dividend
since1988, Golden Breweries has not paid since 1997 (salandeen, 2001). Some Nigeria workers were forcefully disengaged from their services, example Ajaokuta steel industry reduced their staff from five thousand to one thousand in 2007, despite the above scenario, the companies post huge figures of their accounts receivables. It is as a result of the above problem that the researchers deemed it necessary to examine the effect of receivables management on corporate profitability of food and beverages manufacturing firms quoted on the Nigerian stock exchange.
Evidence from the literature suggests that employee‟s compensation plays a key role in any organisation because it is at the heart of the employment relationship and of critical importance to both employees and employers. Employees typically depend on wages, salaries, and so forth to provide a large share of their income and on benefits to provide income and health security. Relying on Vroom (1999) expectancy theory, several researches have confirmed positive relationship between rewards system and performance.
However, a recent study by Aberdeen Group (2008) reveals there is still much confusion on how to do it right observing a general lack of visibility into many compensation programs being created, and a lot of bad habits being brought into the process. Empirical evidence as to the perceived influence of compensation plan on the performance of food and beverage firms in a developing economy like Nigeria thus becomes imperative. This study remains germane by investigating the influence of compensation plan on the performance of selected employees in the Nigerian quoted foods and beverages industry.
1.3 Purpose of the Study
The general purpose is to examine the Customer Relationship Management and Company Performance while the specific sub-objectives are:
1. To examine the relationship between Trust and Company Performance in the Nigerian food and Beverages Industry.
2. To examine the extent to which Empathy influences Company Performance in the Nigerian food and Beverages Industry.
3 To examine extent to which Communication influences Company Performance in the Nigerian food and Beverages Industry.
1.4 Research Questions
1. To what extent does Trust influence Company Performance in the Nigerian food and Beverages Industry?
2. To what extent does Empathy influence Company Performance in the Nigerian food and Beverages Industry?
3 To what extent does Communication enhance Company Performance in the Nigerian food and Beverages Industry?
CONCEPTUAL FRAMEWORKS OF CUSTOMER RELATIONSHIP MANAGEMENT AND COMPANY PERFORMANCE IN THE NIGERIAN FOOD AND BEVERAGES INDUSTRY
COMPANY PERFORMANCE (CF) |
CUSTOMER RELATIONSHIP MANAGEMENT (CRM) |
|
|
Trust |
Market share |
Empathy |
Customer retention |
Communication |