The influence of IoT on CRM. Conditions and possibilities in B2C markets

Table of Contents

1 Introduction

1.1 Purpose of the Thesis

1.2 Procedure and Research

2 Selected theoretical Aspects of the Internet of Things and Customer Relationship Management

2.1 Basic Principles of the Internet of Things

2.1.1 Definition and Concept

2.1.2 Opportunities for Application

2.1.2.1 Industrial Production

2.1.2.2 Smart Home

2.1.2.3 Smart City

2.1.2.4 Smart Grid

2.1.2.5 Healthcare

2.1.2.6 Transport and Logistic

2.1.2.7 Agriculture

2.1.2.8 Smart Store

2.1.3 Technological Functionality

2.1.3.1 Identification

2.1.3.2 Sensor networks

2.1.3.3 Communication

2.1.4 Detailed Examination of Big Data

2.1.5 Detailed Examination of Data Mining

2.1.6 Detailed Examination of Digital Footprint

2.2 Basic Principles of Customer Relationship Management

2.2.1 Definition and Concept

2.2.2 Elements of Customer Relationship Management

2.2.3 Strategic Consideration of Customer Relationship Management in the Corporate Context

2.2.4 Detailed Examination of the Customer Lifetime Value

2.2.5 Detailed Examination of Customer Loyalty

2.2.6 Detailed Examination of Customer Journey

3 Study of the Influence of the Internet of Things on Customer Relationship Management

3.1 Status Quo of Technology and its Dissemination

3.2 Presentation of relevant research results on the Internet of Things in Customer Relationship Management

3.2.1 Study 1: Use of the Smart Store for Persuasive Marketing and Immersive Customer Experiences

3.2.2 Study 2: Product Delivery Service Provider Selection and Customer Satisfaction in the Era of Internet of Things: A Chinese e-Retailer’s Perspective.

3.2.3 Study 3: Blending Internet-of-Things (IoT) Solutions into Relationship Marketing Strategies

3.3 Presentation and Analysis of first Implementation Attempts

3.3.1 Babolat’s “Smart Racquet”

3.3.2 Nike’s Smart Products

3.4 Effects on strategic Customer Retention through the Internet of Things

4 Conclusion

Objectives & Topics

This thesis examines the impact of the Internet of Things (IoT) on Customer Relationship Management (CRM) within business-to-consumer (B2C) markets. The primary goal is to identify strategies and practical options for organizations to integrate IoT technologies into their existing CRM systems to enhance customer engagement and retention.

• The theoretical foundations of IoT and CRM
• Key IoT application areas (e.g., Smart Home, Smart Retail)
• The role of data analytics and digital footprints in modern marketing
• Empirical analysis of IoT-driven CRM implementations in real-world case studies

Excerpt from the Book

Summary of Chapters

1 Introduction: This chapter defines the purpose of the thesis, outlining the evolution of connectivity and the shift towards IoT in the B2C sector, while establishing the central research questions regarding its impact on CRM.

2 Selected theoretical Aspects of the Internet of Things and Customer Relationship Management: This section provides a comprehensive overview of the fundamental technologies driving IoT, such as RFID and sensor networks, alongside the core principles of CRM, including customer lifetime value and the customer journey.

3 Study of the Influence of the Internet of Things on Customer Relationship Management: This chapter serves as the research component, presenting a qualitative content analysis of current IoT trends and specific case studies, such as the smart store concept, delivery service optimization, and smart product implementations by brands like Babolat and Nike.

4 Conclusion: The final chapter summarizes the findings, highlighting the enormous potential of IoT for personalized customer relationships while emphasizing the ongoing challenges regarding data security, interoperability, and the need for robust connectivity.

Keywords

Internet of Things, IoT, Customer Relationship Management, CRM, B2C, Smart Products, Customer Journey, Data Mining, Big Data, Customer Loyalty, Customer Lifetime Value, Digital Footprint, Retail Technology, Marketing Strategy

Frequently Asked Questions

What is the core focus of this research?

The research investigates how Internet of Things (IoT) technologies influence and transform Customer Relationship Management (CRM) within the B2C marketplace.

Which specific themes are covered in the work?

The work covers theoretical foundations of IoT and CRM, current technological developments, data analysis methods, and practical case studies showing how these technologies are applied in modern business.

What is the primary objective of this thesis?

The objective is to analyze the effects of IoT on CRM and to determine effective ways for organizations to implement these technologies to improve customer retention and experience.

What research methodology is employed?

The thesis utilizes a qualitative content analysis approach based on a detailed literature review and the study of specific real-world implementation examples.

What key topics are addressed in the main body?

The main body focuses on technology dissemination, the integration of smart products in retail, delivery service optimization, and how these factors impact strategic customer retention.

Which keywords best characterize the work?

The work is best characterized by terms such as IoT, CRM, B2C, Smart Store, Data Mining, Customer Journey, and Digital Transformation.

How does the "Smart Store" concept support CRM?

The smart store uses technologies like facial recognition, augmented reality, and smart hangers to collect real-time data on customer behavior, allowing for personalized marketing and improved store layout.

What role do Nike and Babolat play in the research?

Nike and Babolat serve as practical case studies to demonstrate how companies use IoT-connected products and platforms to build active communities and strengthen customer loyalty.

What are the primary challenges for IoT in CRM according to the author?

The author identifies significant challenges in the areas of data security, user privacy, the need for technical interoperability, and the requirement for robust high-performance connectivity.