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Research Paper | Management | India | Volume 3 Issue 11, November 2014 | Popularity: 6.4 / 10

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A Study on CRM Practices in Apparel Retail Sector in Bangalore

Dr. A. Kumudha, Barkath Unissa.A

Abstract: Customer relationship management (CRM) refers to building one-to-one relationships with customers that can drive value for the firm. This manuscript discusses proven CRM strategies that companies can use as means of effective customer management (CM). The continuing evolution of CM is made possible by understanding the interactive relationships that develop between firms and customers and among customers themselves. Firms will increasingly be able to customize marketing messages to larger target audiences on the basis of the customer's expected response and the customer's value to the firm. By following the CRM strategies firms can reduce overall marketing costs, increase overall customer response rates and most importantly increase overall customer and firm profitability. While the phrase customer relationship management is most commonly used to describe a business-customer relationship, CRM systems are used in the same way to manage business contacts, clients, and sales leads. Customer relationship management helps the firm to provide better customer service, retain current customers and understand the value of customer.

Keywords: Customer Relationship Management, Loyalty, Retail, Strategy, Retention

Edition: Volume 3 Issue 11, November 2014

Pages: 1896 - 1898

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