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A PAPER PRESENTATION ON

´Customer Relationship Management Strategy in´Customer Relationship Management Strategy in

Indian Retail IndustryµIndian Retail Industryµ

National ConferenceNational Conference--20112011-- Tumkur UniversityTumkur University

Presented ByPresented By:

Prof.Lakshmi Narayana.KProf.Lakshmi Narayana.K

Dr.Paramashivaiah.PDr.Paramashivaiah.P

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ContentsContents

y Introduction.

y Meaning of CRM.

y Process of CRM.

y Benefits of CRM.

y Case Study.

y

Strategy in Retail Sector in India.y Conclusion.

y References.

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IntroductionIntroductiony The organized retail industry is significantly influenced by the

recent developments in retail technology.

y The introduction & development of various software·s and

modules have enabled retailers to collect diversified nature of 

information regarding their customers.

y It has simplified the task of retailers to conduct various

relationships marketing schemes.

y Marketing concept CRM is a powerful functional area of 

marketing management.y It is therefore desirable that one should have a relook at the

concept of marketing in some of its evolutionary phases with the

change in focus from products to relationship during the past 50

years.

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Meaning of CRMMeaning of CRM

y CRM is about organizing information, the phone calls,

the e-mails, all interactions- for strong sales and customer

care.

y CRM is an information industry term for methodologies,

software and usually.y Internet capabilities that help on enterprise manage

customer relationship in an organized and efficient

manner.y CRM is a business strategy that attempts to ensure every

customer interaction (whether for sales or services) is

appropriate, relevant and consistent regardless of the

communication channel.

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Process of CRMProcess of CRM

Know Who your 

Customers are

Keep Learning about

Customers and their 

Changing behavior 

Know what

they want

Give them the merchandiseThey want

Given them shippingexperience they want

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Benefits of CRMBenefits of CRM

y Ensure better direct marketing efforts.

y Provide relevant product and service related data on

real time basis.

y Analyze customer purchase data to identify various

groups of customers.

y Help Minimize customer defection rate.

y Measure customer satisfaction level.

y Provide database to develop various relationship

marketing strategies like incentives.

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Case StudyCase Study

yVera music stores:

1. customer service is a crucial component of 

success.2. Solution For the Above Problem.

3. Benefit From this Strategy.

 

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Strategy in Retail Sector in IndiaStrategy in Retail Sector in India

 

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ConclusionConclusion

y CRM entails all aspects of interaction a company has with its

customer, whether it is sales or service related, it starts with

the foundation of relationship marketing.

yCRM is a systematic approach towards using information andongoing dialogue to built long lasting mutually beneficial

customer relationship.

y CRM requires a cultural change with organizations. It·s an

ongoing business process and will create sustainablecompetitive advantage.

 

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ReferencesReferences

y Philip Kotler - Marketing Management, Prentice hall, USA-13th Edition, Page 128-

129.y Girdhar Joshi - InformationTechnology for Retail, Oxford University Press, New

Delhi, Page 306.

y P.K. Agrwal & N.C. Bansal - Retail Management, Pragati Prakashan, Page - 138.

y David Gilbert - Retail Marketing Management, Prentice hall, New York, Page - 39-42.

y Gibson G.Vedamani - Retail Management, JAICO Publishing House - New Delhi -Page - 143.

y Morgan, Robert M. And Hunt, Shelby D. (1994), ́ The CommitmentTrustTheory of 

Relationship Marketingµ, Journal of Marketing, 658 (3), 20-38.

y Bolton, Ruth N. (1998), ´A Dynamic Model of the Duration of Customer·s

Relationship with a Continuous Service Providers:The Role of Satisfactionµ, Marketing

Science, 17 (1), 45-65.

y www.crmlday.com/crm-retail

y Business world.

y Business Economy.