Critical Analysis On RAACOM Infosystems Business Plan
Task: Create an E-Business Project Plan for an organisation of YOUR CHOICE. By taking the role of an E-Business Consultant, you are to present a 3000-word plan to the board of directors. You are to:
- Select an organisation and critically evaluate a problem/opportunity the organisation is facing. Based on the findings you are to select ONE of the following options:
- EITHER a digital marketing campaign promoting the company’s product/service.
OR A change management & implementation project of a digital system.
- Critically discuss the Justification/Rationale for choosing the current project by providing an analysis of the current digital infrastructure and digital/external environment. Outline SMART objectives for this project. (20%)
- Critically evaluate the digital strategies that you are going to use to achieve the SMART objectives. You are to select at least TWO digital strategies from the following:
- Digital Marketing Strategy
- Digital CRM Strategy
- Digitisation of Supply Chain Management
- E-Procurement Strategy
- Digital Change Management/Transformation (30%)
- Critically discuss the implementation and control mechanisms needed for success of objectives. With this you are to provide a high-level project plan (e.g. a Gantt Chart for Milestones of the Project). (25%)
- Provide an assignment in the form of a report, using academic journals and papers and credible sources as evidence. Ensure assignment is written in clear English and referenced using Harvard Style. (15%)
It is a case study illustrating RAACOM Infosystems business plan and showing how the non-governmental organization of the RAACOM Infosystems Private Limited can achieve its goals in order to develop their market strategies and how the implementation of those strategies lead to their expansion and growth in development within the market. It includes the overview of the company along with their mission statements and vision approaches and the problems faced by the company. The internal and external problems of the company and the countermeasures are also discussed in the particular research paper through a detailed RAACOM Infosystems business plan. It includes the implementation of several digital strategies in order to promote their growth.
The ways through which the strategies are to be implemented are creating a RAACOM Infosystems business plan and a business model canvas. The ways are discussed and analyzed in this part. It also looks upon the preferences of the company in the contemporary digital structure, the concept of E-environment regarding the project and definition of readiness, and the SMART objectives on how the project will improve the position of the company. It involves a discussion on the selection of digital marketing strategies and CRM strategies and their proper implementation. It also involves an analysis of the project methods and activity planning. The research paper on RAACOM Infosystems business plan incorporates analysis of monitoring methods and control methods, and in this regard, the managing methods and the control mechanisms are discussed.
The RAACOM Infosystems business plan emphasizes the courses of action, their selection, strategic planning, updating of those plans, forming business modules and implementing them, and analysis and discussion of methods promoting the growth of the company. The RAACOM Infosystems business plan seeks to understand the promotional strategies of the marketing department of the organization of RAACOM Infosystems Private Limited and the empowerment of their customers and clients by demanding their required feedbacks on the services of the company as they act as the main link between the organization and its maximization of profit in terms of developmental factors. It focuses on the feedbacks, conviction, liking, disliking, preferences of their consumers, and service receivers.
1.RAACOM Infosystems business plan overview
1.1 Company Introduction: RAACOM Infosystems Private Limited
1.1.1 Company Overview: RAACOM Infosystems Private Limited is a non-governmental organization established in 2014. The company is based in Hyderabad, India (The Economics Times, 2020). The company has another corporate office in Indonesia. The company has started its journey towards digitalization of transitioning and transforming businesses. The company provides services in “Big Data & Analytics” consultancy (RAACOM Infosystems Private Limited, 2020). Their services are including the data science and analytics that helps in understanding the inner mechanisms of Artificial Intelligence (AI) and Machine Learning. They offer their services to different organizations and clients to resolve their needs in the digital field. The engineering team in RAACOM Infosystems Private Limited offers its clients full services in their data set.
RAACOM Infosystems Private Limited also specializes in managing data lake and data incubator system for "Big Data Analytics." These are also included in managing and supervising data science and data mining of an organization. In the present scenario, most of the non-technical organizations appoint a technical company to maintain their valuable data through implementing a data lake system for storage purpose (databricks, 2020). RAACOM Infosystems provides data lake service to consolidate a company’s various data streaming branches to conduct operations conveniently. The company also provides services in managing Big Data and visualize data groups of an organization.
- Company’s Mission Statement: "We make decision-making faster, more insight-driven and more focused on business outcomes" (RAACOM Infosystems Private Limited, 2020).
- Company’s Vision Statement: RAACOM Infosystems Private Limited provides services to its customers to help in their growth by improving their performance and competitive nature.
1.1.2 Problem Statement
RAACOM Infosystems Private Limited works on providing services in an organization’s internal and external cloud storage system. However, the existing works of literature pointed out that contemporary cloud computing is not convenient enough for maintaining Big Data (Islam & Hashem, 2018). The company needs to adopt IoT (internet of things) for providing services in "Big Data & Analytics" faster than the conventional cloud computing system. The delay in providing services influence the client's satisfaction factor and can create a negative effect on the company. The company also need to change its current strategy to provide personalized data management technique to various organizations. The customized data search engine provides a natural machine learning system and language analysis in an organization (Podgorny, et al., 2019).
However, the main issue within the RAACOM Infosystems is its promotional technique using digital platforms and poor customer relationship management strategy or CRM strategy. The digital marketing strategy influences a technical company to promote its capability to attract potential customers effectively (Buchanan & McCalman, 2018). The increasing usage of internet networks and the digital device enables various technical and non-technical organizations to fluent their requirements and needs directly on the internet. On the other hand, the practical usage of different customer management and interaction strategy will help the company to retain its loyal and robust customers for business sustainability.
1.2 Overview of Current RAACOM Infosystems business plan
1.2.1 Implementation of Digital Strategies: RAACOM Infosystems has already mastered in using digital techniques to help other businesses to grow in their field. The company is expertise in providing services to managing internal data and its storage system in various companies. Data management companies are responsible for supervising the client organization's policies, values, programs, and help in securing their valuable information as an asset (U.S. Geological Survey, 2013). The current RAACOM Infosystems business plan is aimed at working on implementing the most required digital strategies in the management system of RAACOM Infosystems Private Limited.
One of the required strategies to propose the company's management team to implement is the customer relationship management strategy or CRM strategy through suitable software. The CRM strategy software helps in evaluating the performance of the internal management system of the company. It enables them to develop a perspective over providing standard services and consulting performance quality (González-Benito, et al., 2017). Another required digital strategy for this company to acquire is the effective usage of digital marketing strategy. The digital marketing strategy will enable the company to advertise their services on the internet to understand their potential clients (Equinet Academy, 2018). The current RAACOM Infosystems business plan will analyze the benefits and capabilities of the strategies mentioned earlier to help RAACOM Infosystems in their future marketing growth.
1.2.2 RAACOM Infosystems business plan of the Company
Fig 1: RAACOM Infosystems business plan (Business model canvas)
2.Justification of the RAACOM Infosystems business plan
2.1 Current Digital Infrastructure: RAACOM Infosystems Private Limited is currently working with various small and medium organizations in protecting and developing their internal data management system. The primary responsibility of a data management or governance company is to make the internal data system of an organization efficient and trustworthy (Bi-Survey, 2018). The company is engaged in providing services for “Big Data & Analytics” and managing data lake of the client organizations. However, sometimes the technical aspect of an IT company is very challenging to handle. The information technology company need to maintain their mechanisms on time, provide appropriate data storage and transformation techniques, and a data tracking device to measure all the inputs and transformations (Deloitte Development LLC, 2017). However, different IT company has its perspective over handling different situations.
RAACOM Infosystems believes in providing satisfaction to its clients. They prioritize their customer's needs and personalize the services for getting efficient outcomes to fulfill the desired requirements. Most of the IT companies are believed that the complex structure within the hierarchical engagement restricts the observational powers from the management team. The serial approach and extensive modeling structure in the internal performance evaluation provides a weak work track record of a company (Agile Data, 2020). RAACOM Infosystems needs to improve its current digital infrastructure to consider its weak links and develop the business for better growth. The company needs to implement customer management software to retain its loyal clients in the long run.
The CRM strategy can influence a company to cultivate and manage its customers effectively (Way, 2020). It is a 360-degree view of customer activity through 'Business Intelligence,' 'Prediction Interaction,' and 'Social Networking.' On the other hand, RAACOM Infosystems business plan need to implement a digital marketing strategy to increase its reach to attract potential customers. Digital marketing will enhance the competitive nature of a company and retain the users on the internet (García, et al., 2019). The current digital capability of RAACOM Infosystems can enhance their management team to implement required digital strategies to get an effective result and improve its position in the market.
The e-environment of RAACOM Infosystems Private Limited defines its capability of monitoring and supervising the company's position in its contemporary market by implementing effective strategies. The 'macro-environment' structure of the company indicates the social, technological, legal, economic, and political situations among its competitors, customers, intermediaries, and suppliers (samuel learning, 2019).
Fig 2: ‘Macro-environment’ structure in an organization (samuel learning, 2019)
Being an information technology company, RAACOM Infosystems Private Limited has its complete access in implementing Digital Marketing and CRM strategy in improving its market position. These strategies do not widely influence them. The RAACOM Infosystems business plan will ensure the implementation of these strategies effectively.
RAACOM Infosystems has secured its privacy law related to data protection and digital advertisement. It will enhance the company to implement and conduct the digital marketing strategy effectively under the protection of these laws.
RAACOM Infosystems has already allocated a budget list specifically for engaging with their customers through CRM software. The data management system within the company has designed their digital marketing strategies and CRM software to make the process cost-effective.
The external political scenario in competing with contemporary companies is one of the concerning areas. The company will maintain the political difficulties while using digital marketing strategies effectively.
Effective technical management is not always the best focus point in an IT company. They also need to plan and discuss using convenient and effective technical options to acquire the desired RAACOM Infosystems business plan objectives. RAACOM Infosystems Private Limited has prioritized its technological opportunities in providing an effective solution for implementing these digital strategies. The digital marketing strategy needs a smooth operating system to continue maintaining its promotional works. On the other hand, the CRM software can smoothly run by the company's technical system without appointing external teams. RAACOM Infosystems can also use powerful digital platforms such as “Google Marketplace” to secure their customer relationship management strategy effectively.
Fig 3: SLEPT factors of RAACOM Infosystems Private Limited to understand its E-environment for Digital Strategy Implementation
2.3 SMART Objective
The SMART objectives of RAACOM Infosystems Private Limited to understand the evaluation in implementing useful digital strategies for performance and business development are,
- Specific: To specify the required digital strategy to improve the company's position among its contemporary market.
- Measurable: To measure the effectiveness of implementing required digital strategies in improving the company’s current status.
- Achievable: To achieve the required development by implementing digital strategies in the company’s internal management system.
- Realistic: To evaluate the power of digital strategies in improving a company’s position among the competitors.
- Time-bound: To restrict the timescale of the current RAACOM Infosystems business plan for five months to evaluate the development outcomes of implementing digital strategies conveniently.
3.1 Defining the Project’s SMART Objectives basis the RAACOM Infosystems business plan
The SMART objectives for the implementation of digital marketing and customer relationship management strategies in developing the market position of RAACOM Infosystems Private Limited have enhanced the following areas,
- The viability of the required digital strategy in developing the business and position among its competitions.
- The objectives will help in evaluating the intensity of the implemented strategies and how it differentiates the company from the contemporary market.
- It is essential to restrict the observation duration for a specific period to get an accurate result to predict the company's future growth.
3.2 Selected Digital Strategies
3.2.1 Digital Marketing Strategy: The company of RAACOM Infosystems Private Limited must adapt some selected digital strategies in order to incorporate better development through communicating with their consumers and clients. The organization must invest in a strategical team within the digital world (Aswathy & Nair, 2020). Through social media networking sites, they must communicate with their customers and clients in order to implement policies and plans of actions according to their feedback. The evaluation, preferences, likings, and conviction of the customers and clients must be given emphasis in order to achieve development in an overall way. Digital marketing strategies include various techniques that are discussed as follows (Patrutiu-Baltes, 2016).
Firstly, the search engine optimization must be adopted by the organization, and an expert must be appointed to manage the SEO in making and updating the changes in digital marketing.
Secondly, search engine marketing must be considered to display or search for the different kinds of advertisements. With localization and capability, the ads can be modified and nicely displayed for the target audiences (Chaffey & Ellis-Chadwick, 2019).
Thirdly, local search marketing involves the utilization of local audiences through advertising in a local way. The online reviews are vital in changing the company’s reputation (Mooney & Slobodian, 2016).
Fourthly, content marketing is carrying out digital marketing through various contents and blogs in the form of digital advertisements. It is useful in enticing the target audiences and also to filter the actual group of audiences.
Fifthly, remarketing is another important criterion, including numerous attempts to attract customers and clients if not successful for the first time (De Pelsmacker, et al., 2018). This rises as a result of the tough scenario of competence.
Sixthly, responsive web designing is another element in digital marketing, which includes the responsibility of the managing department of the company in designing and continuously updating the web design content of the marketing page for attracting customers (Gaitniece, 2018).
Seventhly, email marketing or exchange of feedbacks from the customers in order to update and develop the strategies is also considered.
Eighthly, social media markets and video marketing are chosen to carry out the marketing and advertisements on the platform of social networking sites and through numerous videos. Their main target is to maximize the developmental factors through interaction with customers.
Lastly, the marketing automation on a CRM platform and influencer marketing also are essential elements of digital marketing through communication with their clients in an interactive way. The main objective of digital marketing is to advertise attracting customers, compete with other markets online, follow the trends through feedback from the customers, supporting the development of the firm.
3.2.2 CRM Strategy
The company explored in the present context of RAACOM Infosystems business plan must adapt some selected CRM strategies in order to incorporate better development through communicating with their consumers and clients. The organization must invest in a strategical team within the digital marketing platform (Kim & Lee, 2020). Through social media networking sites, they must communicate with their customers and clients in order to implement policies and plans of actions according to their feedback. The evaluation, preferences, likings, and conviction of the customers and clients must be given emphasis in order to achieve development in an overall way. CRM or customer relationship management must involve the steps, as discussed in the following.
Firstly, an overall strategy of business must be created. It includes an understanding of the goals and objectives of the business (Jambulingam, et al., 2018). That will affect into improving the efficacy of the service team of consumers, margins of all the updated business forms, the boost in yearly revenue, and implementation of a volunteering program for the employees. It is also concerned with the development of selling proportions at a distinct level.
Secondly, the value propositions must be defined (Ngo, et al., 2018). Through the process, the company must attempt to know its audiences with the respective persona of buyers. This can be formulated by conducting surveys, interviewing current and past consumers, and other employees (Kim & Lee, 2020).
Thirdly, the company must understand the landscape of competition by mapping the journey of their customers. It includes social media marketing and digital marketing.
Fourthly, the organization must create sound planning to evaluate and measure the contemporary challenges faced.
Fifthly, the company must establish sales processes and sales channels through selling to their customers directly, or through a distributor. In this way, the sales processes must be defined.
Sixthly, the organization must understand its dynamics by evaluating readiness in culture, identifying the roles of the CRM, aligning the marketing, sales, and services provided.
Seventhly, the team goals must be defined through SMART objectives and establishing the major indicators of performance (Suri, 2016).
Lastly, the CRM components must be defined by the company used to develop this RAACOM Infosystems business plan through leads, prospects, contacts, and opportunities, creating deal stages and pipelines, and recognizing the requirements of the software. It also includes the selection of the appropriate CRM software through test drive CRMs and reviewing and researching the requirements. Thus, CRM platforms motivate the organization in yielding interest and developing its growth and expansion. It emphasizes the interactive way of the company to its customers and clients in order to expand their name in the business field.
4.1 Project Method
4.1.1 Digital Marketing Strategy: RAACOM Infosystems business plan has implemented the best existing practices to ensure maximum outcome from the digital marketing strategy. Some of the most well-known digital marketing strategies are SEO or search engine optimization, marketing via email, social networking sites, and company-specific blogs or articles (Pitula, 2019). These techniques are cost and time efficient to make effective movement on the internet. The company needs to implement an internal management team full of digital marketing expertise to create an effective decision-making process.
Fig 4: Digital Marketing Strategy Components in a Company (Gambhir, 2018)
Most of the organizations contact with an external marketing team to acquire digital marketing related works effectively. The digital marketing professionals help various small and medium businesses to expand their territory over the internet to get maximum customer reach (Havoc Digital, 2019). However, RAACOM Infosystems has planned to develop their team to make the strategy sustainable. It is also an effective way to make the process cost-efficient in the long run. The continuous promotion and online engagement will enhance the company to observe the competitors. It will also help in understanding the customer's needs and current trends in IT development to perform better.
4.1.2 CRM Strategy
The CRM or customer relationship management strategy is one of the most effective strategies in retaining loyal customers and makes the business operation sustainable. The CRM software enables a company to interact with its customer efficiently, makes the response time immediate, and retain customers to control the marketing costs (Ledingham & Rigby, 2004). The management team of RAACOM Infosystems business plan needs to emphasize on this strategy to keep their business flow. It is a proven fact that the customer retention technique can save a lot of costs spending on attracting new customers. It also helps in establishing a strong bond with the customer to make the operation process efficient.
Fig 5: CRM strategy components in a company (Lund, 2020)
In the present scenario of RAACOM Infosystems business plan analysis, RAACOM Infosystems need to implement the CRM strategy to make the operation predictions near accurate. The customer relationship management strategy is an effective way to understand the requirements of the customers to prevent the company from making appropriate decisions in providing services (Almotairi, 2009). The company can immediately start with the process by updating the details of existing customers on CRM software to track their feedbacks and further requirements to improve the operational processes. It is essential to create a CRM framework for engaging with the customers efficiently and retain satisfied customers by providing better data management operations in the future.
4.2 Activity Plan (Gantt chart of RAACOM Infosystems business plan milestones)
Fig 6: Activity milestones and completion period
5.Monitoring and Control
5.1 Monitoring and Control Mechanism based on the RAACOM Infosystems business plan
RAACOM Infosystems has appointed a separate management board for governing the appropriate implementation of two selected digital strategies – digital marketing and CRM. The implementation of the proper governing model will enhance the company to address the errors and evaluate the capability of the management team in supervising the operations ( Deloitte Development LLC, 2013). It will help in measuring the intensity of implemented digital strategies.
RAACOM Infosystems has implemented some effective monitoring processes to maintain the operational processes of implementing the selected digital strategies. It is an essential step to evaluate most of the RAACOM Infosystems business plan objectives to understand the development. The monitoring strategies influence the company to improve performance quality and service capacity (Oracle Corporation, 2010).
RAACOM Infosystems has emphasized on monitoring the performance evaluation strategy to control the operational process and conduct the work according to the plan. Performance monitoring and managing strategy play an essential role in improving organizational performance (Adl, et al., 2020). Performance management is a critical process for supervising the impact of implementing those digital strategies. The development evaluation will influence the company to make future improvement planning with the help of these digital strategies.
Fig 7: Monitoring and Control Mechanism of RAACOM Infosystems
Consumers are being tech-savvy and are controlling over their own destinies in the market. Considering the RAACOM Infosystems business plan developed in the present study, it can be stated that the promotional strategies of the marketing department of the organization of RAACOM Infosystems Private Limited must empower their customers and clients by demanding their required feedbacks on the services of the company. The customers act as the main link between the organization and its maximization of profit in terms of developmental factors. They must be provided with the opportunity to control the chosen relationship of brands and must opt-out relationships which are not adaptable to the updated drive of customers in the reality of market structure (Pires, et al., 2018). Therefore, it can be concluded that the major base for marketing and development lies in the hands and opinions of their customers. It can be observed in the RAACOM Infosystems business plan that misinterpretation of digital; the economy is considered to be a serious problem in this regard.
The organizations must not see the digital economy as a cost curtailing economy, including low drives of cost, enabling the delivery of economy in the messaging of the "relentless marketing." They must interpret the digital economic platform as a medium to set up communication with their customers and clients in an interactive way. They must consider their past mistakes and learn from them (Ranjbar & Rezaei, 2017). They must attempt to improve the organization through the feedbacks, conviction, liking, disliking, preferences, and so on that are being received through their consumers and service receivers. All the assets and tools of digital marketing strategies must be evaluated and re-evaluated by the management authority as well as by their customers.
The organization must develop proper strategies to expand the marketing following concrete objectives and aims (Todor, 2016). In order to achieve those aims, they must rely upon the team working units within their company and not only on one single head of the managing department. They must develop proper planning and must update changes through all the hierarchical structures of the company authorities. The concept of managing customers and updating in accordance with their choices of trend must be considered by the management authority of the organization in order to seek further development in the growth and expansion of the business.
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