Customer Relationship Management

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“A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT WITH SPECIAL
REFERENCE TO SUGUNA AUTOMOBILES, COIMBATORE”

CHAPTER - 1
INTRODUCTION
1.1 ABOUT THE STUDY
An organisation, whether a business or an industrial enterprise need customer for its survival and growth. The success and failure of an organization depends on its customers. So it is utmost duty of any organizational member to look after their customer’s needs and wants and make them satisfied with their product or service. It is ideal from any organizations part of view that customers are the only assets.

A customer is a person who adopts and uses a product or service which fulfil his requirement. Customers are us! Everyone is a customer. A customer will not be a customer all the time and even not be a consumer of the same product or services.

CRM stands for customer relationship management. It is a process or methodology used to learn more about customer’s need and behaviour in order to develop strong relationship with them. The more useful way to think about CRM is as a process that will help bring together lots pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends.

CRM helps business use technology and human resources to gain insight into the behaviour of customers and value of those customers.
Definition
Customer Relationship Management (CRM) is specific software that allows a company to measure and control contacts with customers. CRM can be used for controlling contacts with a customer either by phone, fax, mail and e-mail. The data collected can be used for research and analysis of the customer relationship.

1

Meaning
The Customer Relationship Management is the procedure that is crucial for every business. As the customer is the most important part of the business, the CRM is the procedure that analyzes the contact with the customers in a call center for example. Using CRM, a business can:



Provide better customer services



Increase customer revenues



Discover new customers



Cross sell / up sells products more effectively



Help sales staff close deals faster



Make call centres more efficient



Simplify marketing and sales process

It is not suddenly that the business managers have realized that the customer is supreme or the need to render personalized service. However, it was not possible to address the preferences of a massive group of widely dispersed individuals. Neither tools nor the technology was available. The smart business managers did the next best thing, which was to conduct a market research and classify the market info broad segments with different preferences. The product managers would (and still do) then position their products catering broadly to these segments.

CEO’s are realising those who are not able to come up with effective CRM strategies risk being edged out of business. Customer is the king and the business strategies must be built for ensuring customer loyalty. It costs six times more to create a new customer than retain and old one.



Increased sales revenues.



Increased responsiveness.



Increased win rates.



Increased margins



Reduced cost

So building rapport with the customers and creating a friendly service oriented environment leads to a good customer relationship management.
2

1.2 ABOUT THE INDUSTRY
T wo Wheelers in India
India is the second largest producer of two-wheelers in the world. In the last few years, the Indian two -wheeler industry has seen spectacular growth. The country stands next to China and

Japan

in

terms

of

production

and

sales

respectively.

Majority of Indians, especially the youngsters prefer motorbikes rather than cars. Capturing a large share in the two -wheeler industry, bikes and scooters cover a major segment. Bikes are considered to be the favourite among the youth generation, as they help in easy commutation.

B enefits of...
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