Customer relationship management is a never ending process and it has gained immense
importance in the recent years. With the change in market scenario, the conditions have changed
tremendously. Earlier, the market was seller centric but with the change in time, the market has become
customer centric. Where the main focus is on customer needs and wants and customers are treated as
the king in the market. It is very much important for the business firms to meet the expectation of the
customer so as to ensure their long term footing in such a competitive market. CRM is the key to
maintain a healthy relationship with the customers and other related parties because only through this
healthy relationship one can ensure a pool of talent consumers.
CRM is required in all forms of organisation whether it be a retail store or an online business. No
business house can survive in the long run without maintaining a healthy relationship with the
consumers. Retail businesses has been one of the most important backbone of the commercial sector. It
is much easier on the part of retail stores which are one single footing to maintain a good relationship
with the consumers. This is basically because of their daily interaction with the consumers which makes
it much easier on the part of the business firms to develop a healthy relationship with them. But in the
present scenario, it is quite tough and competitive on the part of the business firms to maintain a good
healthy relationship because of the growing trends and market conditions. This paper would basically
focus on how the customers build and maintain a relationship with the customers and hence in turn
increases loyalty marketing. These techniques ensure an overall learning and development of the
organisation. There are different varieties of CRM techniques and one should vigorously analyse and
apply it in their store as per their requirements. There are number of marketing strategies adopted by
the business firms to capture the market and CRM works as per the situation and strategy demands.
There a number of subjects and topics which can be discussed in the chapters to come regarding
the retail sector beginning from customer expectations to CRM strategies but here in this paper, the
main focus would be on to study the role of CRM in retail sector.