An Analysis Upon Impact of Crm Practices on Indian Retailing In the Transforming Business Scenario: a Consumers Conception Study |

ABSTRACT:

In recent era customers have become more sophisticated and they areenjoying more alternative options of brands. Thus satisfying and retaining suchcustomers is increasingly becoming more difficult for the organizations.Customer satisfaction can only be attained by continuously sensing the changingneeds and preferences of customers, and by providing them with solutions thatcan better fulfill their need. Customer Relationship Management (CRM) isregarded as one among the best approaches in achieving goals of customersatisfaction and loyalty. However contemporary literature and publications onthe subject of CRM may portrait it as a strategy that can bring fruitfulresults in any context. There are contradicting views of researchers; inliterature about the effectiveness of CRM practices and policies. We are living in a periodof upheaval, where change is the norm. In this current changing businessscenario, retail industry has witnessed major revolution and global attention.The Indian retail industry is the 5th largest and 3rd attractive in the worldand accounts over 10% of the country’s GDP and 8% of total employment. In thebackground of changing retail trends, understanding customers perceptions,building relationship and retaining customers has been identified as majorsource of competitive advantage.