西 南 交 通 大 学 学 报
第 56 卷 第 2 期
2021
年 4 月
JOURNAL OF SOUTHWEST JIAOTONG UNIVERSITY
Vol. 56 No. 2
Apr. 2021
ISSN: 0258-2724 DOI:10.35741/issn.0258-2724.56.2.35
Research article Economics
T
HE
R
ELATIONSHIP BETWEEN
CRM
S
TRATEGY AND
C
USTOMER
S
ATISFACTION IN
R
ICE
B
USINESS IN
N
ORTH
-E
ASTERN
T
HAILAND
东北泰国稻米业务中客户关系管理战略与客户满意度之间的关系
Chayanan Kerdpitak
College of Innovation and Management, Suan Sunandha Rajabhat University Bangkok, Thailand, chayаnan.kе@ssur.ac.th
Received: January 15, 2021 ▪ Review: February 27, 2021 ▪ Accepted: April 6, 2021 ▪ Published: April 30, 2021
This article is an open-access article distributed under the terms and conditions of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0)
Abstract
A combination of strategies, practices, and technologies to analyze and manage customer data and interaction throughout the customer lifecycle by the organizations is known as customer relationship management (CRM). The primary objective of CRM is to enhance customer retention, increase customer service relationships, and boost sales growth. According to the current study, CRM strategy, or the organizations involved in the rice business, directly impact customer satisfaction and business performance, particularly in North Eastern Thailand. CRM strategies, such as sales, feedback, marketing, and support, positively impact customer satisfaction and business performance. Hence, this research was carried out to investigate a fundamental factor influencing the business performance of rice production in the northeast of Thailand. The conceptual framework was developed from the competitive advantage theory of business organizations and other contemporaneous research in rice business performance. Accordingly, the study considered the importance of sales, marketing, support, feedback, and customer satisfaction employing a quantitative research approach. A questionnaire was used for data collection from 420 managers of the rice business of community enterprises in Northeastern Thailand. Finally, data were analyzed using structural equation modeling (SEM) to examine the actual rice business performance of the organizations studied through all operational links in the CRM. It is concluded that increased sales, feedback, marketing, and sales increase customer satisfaction and the concerned organizations’ business performance. The current study is an excellent contribution for the practitioners to improve their business performance
.
Keywords: Customer relationship management, sales, feedback, marketing, support, customer satisfaction, business performance
431
Kerdpitak / Journal of Southwest Jiaotong University / Vol.56 No.2 Apr. 2021 摘要 组织在整个客户生命周期中分析和管理客户数据和交互的策略,实践和技术的组合称为客户 关系管理(客户关系管理)。客户关系管理的主要目标是增强客户保留率,增加客户服务关系并 促进销售增长。根据当前的研究,客户关系管理策略或参与大米业务的组织直接影响客户满意度 和业务绩效,尤其是在泰国东北部。客户关系管理策略(例如销售,反馈,营销和支持)对客户 满意度和业务绩效产生积极影响。因此,本研究旨在调查影响泰国东北地区稻米生产业务绩效的 基本因素。概念框架是根据商业组织的竞争优势理论和其他同时期水稻业务绩效研究而开发的。 因此,该研究考虑了采用定量研究方法进行销售,市场营销,支持,反馈和客户满意度的重要性 。调查问卷用于收集泰国东北部社区企业的 420 名稻米企业经理的数据。最后,使用结构方程模 型(扫描电镜)对数据进行了分析,以检查通过客户关系管理中所有运营环节研究的组织的实际 稻米业务绩效。结论是,增加的销售,反馈,市场营销和销售可以提高客户满意度和有关组织的 业务绩效。当前的研究对于从业者改善他们的业务绩效做出了杰出的贡献。 关键词: 客户关系管理,销售,反馈,营销,支持,客户满意度,业务绩效
I. I
NTRODUCTIONRice industry activities have central importance worldwide since rice production has major importance for every country because of several benefits. Due to the key importance of this industry, nations are emphasizing rice business activities. The economic importance of the rice industry is increasing day by day as this industry has major benefits to the economy. It influences economic development and has the potential to promote economic development. This is one of the vital industries contributing greatly by generating significant revenue for the countries. An increase in the revenue from this industry increases economic development. It is a vital source to strengthen the economy of various countries with several rice industry opportunities. Furthermore, this industry also has several benefits at the local level.
CRM is done using various approaches that grant an organization to analyze and manage its interaction with its current, past, and potential customers. Basically, the following four factors are addressed in CRM: 1) Sales, 2) Marketing, 3) Feedback, 4) Support. Hence CRM is a system that covers a product cycle [10]. In order to maintain or improve CRM is necessary for organizations. Organizations without a proper CRM do not have definite values about their product, due to which, such organizations have to face struggle during the process of decision making and launching fresh products. Furthermore, CRM helps basic calculations and analytics, which are required for further processes [21].
Rice business has significant importance in Thailand. Every year a preeminent profit is earned from the rice business. Therefore, the importance of the rice business has increased. Globalization provides more access to the traders to bring their goods into the market, which also increases the demand for goods [5]. Thus, in the last couple of years, rice demand has increased, introducing new North Eastern Thailand organizations. Hence, there is a strong need to analyze the business performance of the organizations involved in the rice business in North Eastern Thailand as these organizations are major contributors to the rice industry in the country.
However, the organizations involved in the rice business, especially in Yasothon, are facing different business performance-related problems. The business performance of organizations is not viable. There are many factors involved in the business performance of these organizations. CRM strategy is also one of the major factors that directly impact rice organizations’ business performance in North Eastern Thailand. CRM strategy also indirectly impacts these organizations’ business performance through customer satisfaction [6]. Among all other factors, CRM strategy also has serious impacts on business performance and causes noteworthy business changes. According to the current study, CRM strategy involved sales, marketing, feedback, and support, which has a vital role in customer satisfaction and business performance.
This research is a rare study that has exclusively explored the role of CRM strategy in rice business performance in North Eastern Thailand. Different studies are available on CRM
strategy for various industries; however, all these studies have not considered the rice business in North Eastern Thailand. Many studies are also available on the rice business; however, the functionality of CRM strategy and customer satisfaction is totally missing from all these studies. That is why the current study is a vital contribution to the body of literature.
Previous literature clears that CRM strategy has significant importance for any organization. Moreover, it is also obvious from previous studies that the measurement of customer satisfaction is mandatory for organizations. Hence, the importance of the relationship between CRM strategy and customer satisfaction has a prominent role in business performance, especially for organizations related to rice business, particularly in Thailand. Therefore, the current study’s core objective is to know the impact of CRM strategy involving sales, marketing, feedback, and support on the organizations’ customer satisfaction and business performance. Investigating the mediation role of customer satisfaction between the relationship of CRM strategy and business performance is also one of the major objectives of the current study.
The current study contributes a lot to the body of literature by investigating the relationship between CRM strategy, especially with sales, marketing, feedback, and support, with customer satisfaction and business performance of organizations having a rice business, particularly in North Eastern Thailand. Thus, the current study has both theoretical as well as practical contributions to the literature. Theoretically, the current study explores the relationship between sales, marketing, feedback, and support with customer satisfaction and business performance. While practically, the current study exclusively helps the practitioners to boost their business performance involved in the rice business in Thailand.
Thus, this study aims to study the essential content that leads to the rice business performance by studying the factors that can lead to business development and differentiate
products and services and the use of customer satisfaction than those of business performance.
II.
L
ITERATURER
EVIEWA process in which an approach to better the existing customer relationships and build a new customer relationship is known as customer relationship management. CRM strategy helps an organization to increase customer satisfaction level and grow its business performance [2]. According to a prior study, a CRM system has the following features: contact management, email management, lead management, deal management, and automation. However, according to the current study, organizations especially involved in the rice business in North Eastern Thailand, practicing CRM strategies, ramified with sales, marketing, feedback, and support of their products, have superior business performance. Sales, marketing, feedback, and support are involved during CRM strategy implementation [17]. During the CRM strategy, the organizations have to maintain a record for their sales and ensure product availability in the market. Marketing of the product promises an organization more sales and causes future benefits such as its good well-being. Whereas feedback by the customer helps an organization maintain or increase the product quality as per the customers’ requirement, that ultimately increases customer satisfaction and causes a noteworthy increase in the organizations’ business performance.
Moreover, product support has significant importance as it involves product promotion, packaging, pricing, and placement [13]. All the above 4 P’s (promotion, packaging, pricing, and placement) of the product directly impact the customer satisfaction and the business performance of the concerned organizations [16]. Therefore, Figure 1 shows the relationship between CRM strategy involving sales, marketing, feedback, and support with customer satisfaction and business performance.
433 Kerdpitak / Journal of Southwest Jiaotong University / Vol.56 No.2 Apr. 2021
Figure 1. Study framework
A. Sales and Customer Satisfaction
The term to express the activities which are involved in the selling process of goods is called sales. Organizations/companies have a sales management system with a further subsystem to operate from ground level to the central system [18]. An important person involved in the sale system is a salesperson responsible for selling the goods and services offered by the organization. The current study shows that organizations having an effective sales management system are more productive and easily achieve their set goals and targets. As with an effective sales management system, a buyer gets the goods, preferably [20]. However, sales management operates with the following steps; initially, initial contact and prospecting with the customer are made, then in the next step, the product is qualified. The third step focuses on what exactly is needed to proceed; hence, an assessment of the basic needs is done. The next step involves a demo of the product. In a way, it is a promotion of the product to potential customers. Then in the next step, proposals received for the product and objections, if any, are handled. Finally, it is assumed that the product is fine, and its final state is determined. Then Organizations continue their follow-up and referrals with the repetitive business functions in the market. Hence, in this way, it becomes more effective to win customer satisfaction. Therefore, organizations with an effective sales management system have a good CRM strategy that ultimately promises customer satisfaction [27]. Thus, it is encapsulated that
H1: Sales have positive effects on customer satisfaction.
B. Marketing and Customer Satisfaction
Sales and marketing are two different things. The difference between marketing and sales is as under: sales are a process in which a salesman or a product holder convinces a customer to buy or prefer the product with a face-to-face interaction [11]. While marketing involves a collection of findings obtained after analyzing the market that causes for successful sales. Hence, marketing is the set of institutions, processes, and activities for communicating, exchanging, creating, and delivering offerings that have purpose and value for clients, society, partners, and customers at large [15]. According to previous study results, basic marketing purposes can be described with the following five main areas.
Raise awareness for the brand: In this section, awareness of the brand is increased by maximizing the presence on social media, generating a guest blog that works with the other famous sites, starting a podcast, a regular practice of giveaway to the audience, developing a voice for the brand, taking part in partnerships, and by using native advertising.
Generation of high-quality leads: Various kinds of tips work to generate high-quality leads; however, the following tips have significant importance in marketing. Better understanding between the leads and inquiries defines qualified leads uniformly for both the marketing and sales, keeps engaged in lead maintenance, records both the sales and marketing lead separately, and brings in exercise a lead system.
Grow and maintain leadership: This section involves the following steps:
• Reveal your flaws • Acknowledge feedback • Deny for mediocrity • Recognize your motivation
CRM Strategy Business Performance Customer Satisfaction Sales Feedback Support Marketing
• Gain from your mistakes
• Listen to those with more experience • Spend on yourself.
Enhance customer value: Customer value can be increased with a better understanding of what exactly value for the customer, know the proposition of personal value, dividing the relationship with the customer in the segment, and identify the more valuable segment, and increase focus on useful customers.
Empowerment of trusty people as ambassadors: It always produces healthy profits and businesses to go with the trusty people. All the above five areas of marketing have significant positive impacts on customer satisfaction. Therefore, it is summarized that
H2: Marketing has a positive effect on customer satisfaction.
C. Support and Customer Satisfaction
Product support has significant importance, especially regarding customer satisfaction. The concept of product support basically starts with resolving the malfunction of the product that a customer experience. However, product support operates on both ends of sales, i.e., producer and end consumer [8]. Product support involves product promotion, packaging, designing, pricing, and placement on the producer end. It is noticed that the products with the proper and regular promotion are familiar with the end customers that determines customer satisfaction is high for those products. According to a prior study, designing and packaging of a product have significant importance among end consumer of the product [23]. Hence, the organizations with a good packaging for their rice berry products are easy to win customer satisfaction. While the organizations in North Eastern Thailand involved in the rice business show less interest in making attractive packages of their products, they struggle to achieve customer satisfaction. Another important factor that affects customer satisfaction is product placement. It means organizations have the right placement of their products, among other products of the market; hence, the customers are easy to find that product; instead, product placement helps the customer prefer that products over the other adversary products available in the market [25].
Moreover, a product support manager is responsible for admonishing the functions necessary for the readiness, maintenance, and operational capabilities of components, subsystems, and systems. While on the end consumer end, the product supports the user by saving efforts to find a fine product. Hence,
product support is very important because it increases customer retention and loyalty, ultimately adding value to customer satisfaction [1]. Thus, it is encapsulated that
H3: Support has a positive effect on customer satisfaction.
D. Feedback and Customer Satisfaction
Generally, feedback is categorized into three sections: 1. Appreciation 2. Coaching 3. Evolution. Appreciation simply means admiration or recognition of something [24]. According to the current study, the organizations having rice berry business in North Eastern Thailand, in good practice of appreciation, coaching, and evolution of feedback given from their customers, have an extraordinary customer satisfaction level. Because feeling authentically appreciated raises customers. Moreover, appreciation over feedback by the customers energizes them. They prefer to opt for their future consumption and willingly suggest products with others that ultimately increase customer satisfaction. A previous study proposes that feedback helps promote professional and personal growth that definitely adds value to customer satisfaction [12]. While describing the feedback in detail is a process of listening to customers actively, then spend time analyzing the actual problem; finally, identifying a better possible solution is made. Furthermore, with positive criticism, the absorption of negative feedback also increases customer satisfaction in the process of feedback. Hence it is summarized that:
CRM strategy not only causes effective progress but also guarantees business performance. Organizations in good practice of CRM strategy gain more profit. Because of the CRM strategy’s successful implication, an organization is fully capable of measuring its actual value among its customers, communities, and partners [26]. While the organizations that have a persuasive CRM strategy system in exercise are ready to work with automated service systems, which ultimately requires fewer efforts and resources cost and result in business performance. Therefore, CRM strategy is the largest asset of any organization that is being popular among most organizations.
Furthermore, CRM strategy enables the corresponding organization to meet identical needs based on business size and type [9]. Therefore, an efficient CRM strategy is always beneficial and causes the corresponding organization’s business performance prominently. Hence, it is encapsulated that;
435
Kerdpitak / Journal of Southwest Jiaotong University / Vol.56 No.2 Apr. 2021
H4: Feedback has a positive effect on customer satisfaction.
H5: Sales has a positive effect on business performance.
H6: Marketing has a positive effect on business performance.
H7: Support has a positive effect on business performance.
H8: Feedback has a positive effect on business performance.
H9: Customer satisfaction mediates between the relationship of sales and business performance.
H10: Customer satisfaction mediates between the relationship of marketing and business performance.
H11: Customer satisfaction mediates between the relationship of support and business performance.
H12: Customer satisfaction mediates between the relationship of feedback and business performance.
III. M
ETHODS/M
ATERIALSLike other studies, the current study also decided its research method at the initial level. The research method has significant importance for any study because it sets further directions for the study. Therefore, the current study also chooses its research method just by its nature. There are three well-known research methods: quantitative research method, qualitative research method, and mixed research method. The nature of the current study is just according to the quantitative research method. Hence, the quantitative research method was applied for the current study.
Initially, a questionnaire was prepared to collect the primary data from rice organizations in North Eastern Thailand, which were declared the respondents in the current study. During the questionnaire preparation, it was realized that the questionnaire must be categories; hence, it was divided into three major sections, each section defining a particular type of question. The first section of the questionnaire consisted of the respondents’ demographic information, such as their name, education, age, experience, etc. Questions related to the key variables of the current study were asked in the second section of the questionnaire. While in the third section, which is also the last section of the questionnaire, 30 questions based on a 5-point Likert scale starting from 1 as "Strongly Disagree" to 5 as "Strongly Agree) were asked by the respondents of the current study.
After successfully completing the questionnaire, the research sample size was selected for the next phase. Hence, according to the recommendation of E Isiwele, 420 sample size for this study was selected. However, age and gender do not affect the sample size of the current study. Moreover, the area cluster sampling technique was adopted for the current study as the current study has a wide area under consideration. Because for the wide area under consideration, area cluster sampling is the best approach. Therefore, area cluster sampling was preferred for the current study.
By personally visiting various organizations involved in the rice business, especially in North Eastern Thailand, a list of 420 employees, according to the sample size of the current study, was prepared to contain each respondent’s basic contact information. Hence, it was decided that each respondent will be contacted via his/her email address individually. Hence, an email attached to the questionnaire and a brief explanation about the current research and survey purposes were sent to each respondent’s email address individually. Moreover, a notification message was also sent to the personal phone number of each respondent. After three weeks of the email sent, there were 295 responses from the respondents. Hence, a reminder message was generated and sent to the rest of the respondents. One hundred fifteen more responses were received from the rest of the respondents after the next ten days. Now there were 400 responses collectively. However, 20 responses were partially filled; hence, after excluding those 20 responses, 420 valid responses were used as primary data for the current study. Then, this primary data was brought into PLS to complete the data analysis process to obtain the final results of the current study. All the measures and scales were used from previous studies.
IV. R
ESULTSData analysis involves analyzing the hypotheses that are established in the literature review section of this study. However, before analyzing the hypotheses, it is mandatory to check the collected data. Because missing values show unwanted effects on the data and outlier, it was made sure that there is no outlier and missing value present in the data. Hence, the normality of the data was ensured.
After making sure about the normality of the data and conformation about the outlies and missing values, further analysis was carried out by using PLS to conform to the reliability and validity. Then hypotheses were also investigated
during the analysis process. Moreover, structural equation modeling (SEM) was used in the present study. Usually, Partial Least Square and SEM are based on the structural model and measurement model. However, the measurement model represents the reliability and validity of the data, shown in Figure 2.
Figure 2. Measurement model
Factor loading must contain minimum value = 0.4, average variance, extracted (AVE) must contain minimum value = 0.5 and composite reliability also must contain minimum value = 0.7. It is clear from Table 1 that factor loading for all the elements of business performance, customer satisfaction, sales, marketing, support,
and feedback is under the minimum threshold level, which is 0.4. Factor loading of all the elements of business performance, customer satisfaction, sales, support marketing, and feedback are highlighted in Table 1.
While analyzing the hypotheses of the study, PLS and structural equation modeling was used. Generally, PLS-SEM involved two basic steps; measurement model and structural model. Figure 2 highlights the measurement model of all the tested hypotheses of the current study. While Figure 3 shows the structural model of all the hypotheses from this study.
Figure 3. Structural model
Table 1. Factor loadings
Business Performance Customer Satisfaction Feedback Marketing Sales Support
BP1 0.643 BP2 0.500 BP3 0.712 BP4 0.731 CS1 0.817 CS2 0.774 CS3 0.827 FEE1 0.845 FEE2 0.741 FEE3 0.779 MARK1 0.855 MARK2 0.806 MARK3 0.696 SAL5 0.763 SAL6 0.837 SAL7 0.829 SAL8 0.477 SAL9 0.453 SUPP1 0.606 SUPP2 0.711 SUPP3 0.753 Table 2.
Reliability and convergent validity
Cronbach's Alpha rho_A Composite Reliability (AVE)
Business Performance 0.746 0.765 0.743 0.525 Customer Satisfaction 0.730 0.731 0.847 0.651 Feedback 0.795 0.702 0.833 0.622 Marketing 0.716 0.742 0.831 0.623 Sales 0.714 0.795 0.812 0.582 Support 0.782 0.782 0.732 0.547 Table 3. AVE square root
437
Kerdpitak / Journal of Southwest Jiaotong University / Vol.56 No.2 Apr. 2021
Discriminant validity was determined by using the AVE square root. Moreover, it is shown in Table 3 that each column has a maximum value at the top. According to Table 3, the AVE square root value of the business performance is = 0.852, the AVE square root value of the customer satisfaction is = 0.807, the AVE square root value of the feedback is = 0.788, the AVE square root value of the marketing is = 0.788, the AVE square root value of the sales is = 0.695, and the AVE square root value of the support is = 0.694
In Table 4, the relationship between customer satisfaction and business performance is positively significant with the t-value = 3.836 and β = 0.283, the relationship between the feedback and business performance is positively significant with the t-value = 6.345 and β = 0.514, the relationship between the feedback and customer
satisfaction is positively significant with the t-value = 4.505 and β = 0.272, the relationship between the marketing and business performance is positively significant with the t-value = 9.865 and β = 0.621, the relationship between the marketing and customer satisfaction is positively significant with the t-value = 0.946 and β = 0.033, the relationship between the sales and business performance is positively significant with the t-value = 2.595 and β = 0.173, the relationship between the sales and customer satisfaction is positively significant with the t-value = 11.745 and β = 0.7, the relationship between the support and business performance is positively significant with the t-value = 1.826 and β = 0.074, and the relationship between the support and customer satisfaction is positively significant with the t-value = 2.108 and β = 0.096.
Table 4.
Direct effect results
Original Sample (O) Sample Mean (M) Standard Deviation (STDEV) T Statistics (|O/STDEV|) P-Values
Customer Satisfaction -> Business Performance 0.283 0.291 0.073 3.834 0 Feedback -> Business Performance 0.513 0.507 0.082 6.345 0 Feedback -> Customer Satisfaction 0.271 0.272 0.061 4.504 0 Marketing -> Business Performance 0.622 0.625 0.062 9.865 0 Marketing -> Customer Satisfaction 0.034 0.034 0.035 0.947 0.333
Sales -> Business Performance 0.174 0.183 0.066 2.595 0.011
Sales -> Customer Satisfaction 0.701 0.711 0.061 11.747 0
Support -> Business Performance 0.073 0.071 0.041 1.826 0.067 Support -> Customer Satisfaction 0.095 0.095 0.046 2.106 0.037
The mediation effect of customer satisfaction between feedback and business performance is significant with a t-value of 2.761. Β-value 0.077, mediation effect of customer satisfaction between marketing and business performance is significant with t-value 0.822. Β-value 0.01, mediation effect of customer satisfaction between
sales and business performance is significant with t-value 3.618 and β-value 0.198. The mediation effect of customer satisfaction between support and business performance is significant with a t-value of 1.771 and β-value of 0.027. All the results of indirect effects are shown in Table 5.
Table 5.
Indirect effect results
Original Sample (O) Sample Mean (M) Standard Deviation (STDEV) T Statistics (|O/STDEV|) P Values
Feedback -> Customer Satisfaction -> Business Performance 0.077 0.081 0.028 2.761 0.007 Marketing -> Customer Satisfaction -> Business
Performance 0.011 0.011 0.012 0.822 0.401
Sales -> Customer Satisfaction -> Business Performance 0.198 0.204 0.055 3.618 0.001
Business
Performance Customer Satisfaction Feedback Marketing Sales Support
Business Performance 0.853 Customer Satisfaction 0.504 0.806 Feedback 0.643 0.798 0.788 Marketing 0.792 0.306 0.295 0.789 Sales 0.602 0.774 0.703 0.358 0.695 Support 0.651 0.456 0.465 0.593 0.578 0.694
Support -> Customer Satisfaction -> Business Performance 0.027 0.028 0.015 1.772 0.078
V.
D
ISCUSSIONAccording to the first hypothesis of the current study: sales have positive effects on customer satisfaction. More sales for a particular product show that customers’ satisfaction level has similarly increased for that particular product [3]. According to the results of a previous study, the volume of the product sales determines its popularity among the consumer of that product. Hence, by knowing the sales of rice berry, the customer satisfaction level is determined. The second hypothesis of the current study describes that: marketing has a positive effect on customer satisfaction. After-sales, marketing is a key factor that has significant customer satisfaction [19]. According to the CRM strategy, increasing the market of a particular product such as rice, according to the current study, always helps achieve customer satisfaction. The marketing introduces consumers to the products. Hence, marketing positively impacts customer satisfaction [4]. In the third hypothesis of the current study, it is explored that: support has a positive effect on customer satisfaction. Support of a product usually involves product design, promotion, and placement. With the right support, a product is ready to achieve customer satisfaction. Eye-catching design and colors of packets of a product are conducive to satisfy the customers. Product promotion and placement play a vital role in winning a customer [22]. Hence, placement, design, and promotion of a product have numerous positive effects on customer satisfaction. According to the fourth hypothesis of the current study: feedback has a positive effect on customer satisfaction. Feedbacks are very important to make the product as per the end customers’ requirement.
According to a prior study, feedback plays a vital role in understanding what exactly the end-user requires. Moreover, the end consumer’s feedback is the feedback that causes for a new production of new products [7]. However, feedback helps make the product finer and more admirable and ultimately increases customer satisfaction. The fifth hypothesis of the current study investigates that CRM strategy positively affects business performance. All the parts of CRM strategy such as sales, marketing, feedback, and support ultimately help increase the concerned organization’s business performance. It is noticed that organizations with a good CRM strategy practice have superior business performance compared with those who do not have an effective CRM [14]. Last and the sixth
hypothesis of the current study is stated as customer satisfaction
mediates the
relationship between CRM strategy and business performance.VI.
C
ONCLUSIONOrganizations having rice businesses, especially in North Eastern Thailand, with an effective CRM strategy, successfully achieve business performance as per their set goals and targets. Moreover, it is also noted that the organizations have good customer satisfaction with those who operate with a CRM strategy. In contrast, organizations without CRM strategies have comparatively low business performance. Hence, it is figured out that CRM strategy has significant positive impacts on business performance. A survey was conducted depending upon the 420 valid responses from various organizations in North Eastern Thailand to obtain these results. CRM strategy has a direct positive impact on customer satisfaction. With the increased value of CRM strategy, customer satisfaction level also increases. While CRM strategy also positively influences the business performance of the organizations. Hence, an effective CRM strategy is helpful for the increase in business performance. However, many other factors directly impact the organizations’ rice business performance in North Eastern Thailand. The current study has not yet considered the role of human resource management and human resources practices impacting these organizations’ business performance. Hence, it is highly recommended to rice organizations’ related business performance in North Eastern Thailand, with Human resource management and human resources practices.
R
EFERENCES[1] AHMAD, A., & BARUKAB, O. (2020)
A Novel Approach to Identify the Categories
of Attributes for the Three-Factor Structure
in Customer Satisfaction. Complexity, 2020,
Article
ID
9506941.
https://doi.org/10.1155/2020/9506941
[2] AL-SURAIHI, W. A., AL-SURAIHI,
A.-H. A., IBRAHIM, I., AL-TAHITAH, A., &
ABDULRAB, M. (2020) The Effect of
Customer Relationship Management on
Consumer Behavior: A Case of Retail
Industry in Malaysia. International Journal
439
Kerdpitak / Journal of Southwest Jiaotong University / Vol.56 No.2 Apr. 2021
of Management and Human Science, 4(3), pp.
32–40.
[3] ARSLAN, I. K. (2020) The Importance
of Creating Customer Loyalty in Achieving
Sustainable
Competitive
Advantage.
Eurasian
Journal
of
Business
and
Management, 8(1), pp. 11–20.
[4] CONFENTE, I., SCARPI, D., & RUSSO,
I. (2020) Marketing a new generation of
bio-plastics products for a circular economy: The
role of green self-identity, self-congruity, and
perceived value.
Journal
of
Business
Research, 112(1), pp. 431–439.
[5] CUERVO‐CAZURRA, A., DOZ, Y., &
GAUR,
A.
(2020)
Skepticism
of
globalization and global strategy: Increasing
regulations and countervailing strategies.
Global Strategy Journal, 10(1), pp. 3–31.
[6] DEHGHANPOURI, H., SOLTANI, Z., &
ROSTAMZADEH, R. (2020) The impact of
trust, privacy and quality of service on the
success of E-CRM: the mediating role of
customer satisfaction. Journal of Business &
Industrial Marketing, 35(11), pp. 1831-1847
[7] ESMER, Y., & SAYLAN, O. (2020).
Role of customer involvement in new
product development process of industrial
enterprises: conceptional research. Verimlilik
Dergisi, 17(2), pp. 179–193.
[8] GELBRICH, K., HAGEL, J., &
ORSINGHER, C. (2020) Emotional support
from a digital assistant in
technology-mediated services: Effects on customer
satisfaction and behavioral persistence.
International
Journal
of
Research
in
Marketing, 37(2), pp. 262-272.
[9] GUEROLA-NAVARRO, V.,
OLTRA-BADENES, R., GOMEZ, H., &
GIL-GOMEZ, J. A. (2020) Research model for
measuring
the
impact
of
customer
relationship
management
(CRM)
on
performance indicators. Economic
Research-Ekonomska Istraživanja, 33(4), pp. 1–23.
[10] HANNILA, H., TOLONEN, A.,
HARKONEN, J., & HAAPASALO, H.
(2019) Product and supply chain related data,
processes and information systems for
product portfolio management. International
Journal of Product Lifecycle Management,
12(1), pp. 1–19.
[11] HOSKINS, J., VERHAAL, J. C., &
GRIFFIN, A. (2020) How within-country
consumer product (or brand) localness and
supporting marketing tactics influence sales
performance. European Journal of Marketing,
55(2), pp. 565-592.
[12] KHATTAK, A., PARACHA, W. T.,
ASGHAR, M. Z., JILLANI, N., et al. (2020).
Fine-Grained
Sentiment
Analysis
for
Measuring Customer Satisfaction Using an
Extended Set of Fuzzy Linguistic Hedges.
International Journal of Computational
Intelligence Systems, 13(1), pp. 744-756.
[13] KONSTANTOGLOU, A., FOLINAS,
D., FOTIADIS, T. A., RALLIS, S., et al.
(2020)
Development
of
A
Holistic
Framework for the Key Packaging Elements
of
Agri-Food
Products.
Journal
of
Engineering Science & Technology Review,
13(3), pp. 23-31.
[14] KUMAR, M., & MISRA, M. (2020)
Evaluating the effects of CRM practices on
organizational learning, its antecedents and
level of customer satisfaction. Journal of
Business & Industrial Marketing, 36(1), pp.
164-176.
[15] MATARAZZO, M., PENCO, L.,
PROFUMO, G., & QUAGLIA, R. (2020)
Digital transformation and customer value
creation in Made in Italy SMEs: A dynamic
capabilities perspective. Journal of Business
Research, 123(1), pp. 642–656.
[16] MELOVIĆ, B., JOCOVIĆ, M., DABIĆ,
M., VULIĆ, T. B., & DUDIC, B. (2020) The
impact of digital transformation and digital
marketing
on
the
brand
promotion,
positioning and electronic business in
Montenegro. Technology in Society, 63(2),
Article id: 101425.
[17] NGUYEN, B., CHEN, J., FOROUDI, P.,
YU, X., CHEN, C.-H. S., & YEN, D. A.
(2020) Impact of CRM strategy on
relationship commitment and new product
development: Mediating effects of learning
from failure. Journal of Strategic Marketing,
29(2), pp. 1–38.
[18] NICOD, L., LLOSA, S., & BOWEN, D.
(2020). Customer proactive training vs
customer reactive training in retail store
settings: Effects on script proficiency,
customer satisfaction, and sales volume.
Journal of Retailing and Consumer Services,
[19] OTHMAN, B. A., HARUN, A., DE
ALMEIDA, N. M., & SADQ, Z. M. (2020)
The effects on customer satisfaction and
customer loyalty by integrating marketing
communication and after sale service into the
traditional marketing mix model of Umrah
travel services in Malaysia. Journal of
Islamic Marketing, 12(2), pp. 363-388.
https://doi.org/10.1108/JIMA-09-2019-0198
[20] PELLEGRINO, R., COSTANTINO, N.,
& TAURO, D. (2020) The role of risk
management in buyer-supplier relationships
with a preferred customer status for total
quality management. The TQM Journal,
32(5), pp. 959-981.
[21] RODRIGUEZ, M., & BOYER, S.
(2020) The impact of mobile customer
relationship management (mCRM) on sales
collaboration and sales performance. Journal
of Marketing Analytics, 8(3), pp. 137–148.
[22] SHETH, J., JAIN, V., & AMBIKA, A.
(2020) Repositioning the customer support
services: The next frontier of competitive
advantage. European Journal of Marketing,
54(7), pp. 1787-1804.
[23] SLACK, N., SINGH, G., & SHARMA,
S. (2020) The effect of supermarket service
quality dimensions and customer satisfaction
on
customer
loyalty
and
disloyalty
dimensions. International Journal of Quality
and Service Sciences, 12(3), pp. 297-318.
[24] TUNCER, İ., UNUSAN, C., &
COBANOGLU, C. (2020) Service quality,
perceived value and customer satisfaction on
behavioral intention in restaurants: An
integrated structural model. Journal of
Quality Assurance in Hospitality & Tourism,
22(1), pp. 1-29.
[25] KUNDIUS, V., & KOVALEVA, I.
(2020) Substantiation of Efficiency of Local
Areas of Placement of Production and
Processing of Agricultural Products in the
Region. Conference Proceedings “New Silk
Road: Business Cooperation and Prospective
of Economic Development” (NSRBCPED
2019),
pp.
877–881.
https://doi.org/10.2991/aebmr.k.200324.161
[26] VARADARAJAN, R. (2020) Customer
information resources advantage, marketing
strategy and business performance: A market
resources based view. Industrial Marketing
Management, 89, pp. 89-97.
[27] YAN, J., ZHENG, Y., BAO, J., LU, C.,
et al. (2020). How to improve new product
performance through customer relationship
management
and
product
development
management: Evidence from China. Journal
of Business & Industrial Marketing, 36(1),
pp. 31-47.
参考文:
[1] AHMAD , A. 和 BARUKAB , O. (
2020)一种新颖的方法来识别客户满意度
中三要素结构的属性类别。复杂性,2020
, 文 章
ID
9506941.
https
:
//doi.org/10.1155/2020/9506941
[2] AL-SURAIHI,W。A.,AL-SURAIHI
, A.-H 。 答 : IBRAHIM , I. ,
AL-TAHITAH,A。和 ABDULRAB,M。(
2020)客户关系管理对消费者行为的影响
:以马来西亚零售业为例。国际管理与人
文科学杂志,4(3), 第 32–40 页。
[3] ARSLAN,I。K.(2020)建立客户忠
诚度在实现可持续竞争优势中的重要性。
欧亚工商管理杂志,8(1), 第 11-20 页。
[4] CONFENTE , I. , SCARPI , D. , 和
RUSSO,I.(2020)为循环经济营销新一
代生物塑料产品:绿色自我认同,自我一
致性和感知价值的作用。商业研究杂志,
112(1),第 431–439 页。
[5] CUERVO-CAZURRA , A. , DOZ , Y
。和 GAUR,A。(2020)对全球化和全
球战略的怀疑:不断增加的法规和反补贴
战略。全球战略杂志,10(1),第 3-31
页。
[6] DEHGHANPOURI , H., SOLTANI,
Z.和 ROSTAMZADEH,R.(2020)信任
,隐私和服务质量对电子客户关系管理成
功的影响:客户满意度的中介作用。商业
441