National Conference-2011- Tumkur University Conference-2011A PAPER PRESENTATION ON

Customer Relationship Management Strategy in Indian Retail Industry

Presented By By: Prof.Lakshmi Narayana.K Dr.Paramashivaiah.P

Contents
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.

Introduction
y The organized retail industry is significantly influenced by the

recent developments in retail technology. y The introduction & development of various softwares 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.

Meaning 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.

Process of CRM
Know Who your Customers are Keep Learning about Customers and their Changing behavior Given them shipping experience they want Know what they want

Give them the merchandise They want

Benefits 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.

Case Study
y Vera music stores: 1. customer service is a crucial component of

success. 2. Solution For the Above Problem. 3. Benefit From this Strategy.

Strategy in Retail Sector in India

Conclusion
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. y CRM is a systematic approach towards using information and ongoing dialogue to built long lasting mutually beneficial customer relationship. y CRM requires a cultural change with organizations. Its an ongoing business process and will create sustainable competitive advantage.

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

y y y

129. Girdhar Joshi - Information Technology for Retail, Oxford University Press, New Delhi, Page 306. P.K. Agrwal & N.C. Bansal - Retail Management, Pragati Prakashan, Page - 138. David Gilbert - Retail Marketing Management, Prentice hall, New York, Page - 39-42. Gibson G. Vedamani - Retail Management, JAICO Publishing House - New Delhi Page - 143. Morgan, Robert M. And Hunt, Shelby D. (1994), The Commitment Trust Theory of Relationship Marketing, Journal of Marketing, 658 (3), 20-38. Bolton, Ruth N. (1998), A Dynamic Model of the Duration of Customers Relationship with a Continuous Service Providers: The Role of Satisfaction, Marketing Science, 17 (1), 45-65. www.crmlday.com/crm-retail Business world. Business Economy.