A STUDY ON CUSTOMER RELATIONSHIP MANAGEMENT WITH SPECIAL REFERENCE TO SERVICE SECTOR IN INDIA

Abstract

The biggest management challenge within the new millennium of relaxation and economic process for a business is to serve and maintain quality relationship with the king – The Customer. In the past producers took their customers for granted, because at that time the customers were not stern nor had alternative source of supply or suppliers. But today there is a radical transformation. The dynamical business environment is characterized by economic liberalization, increasing competition, high consumer options, rigorous customer, more emphasis on quality and value of purchase etc. All these changes have made today’s producer shift from traditional selling to modern marketing. Modern marketing calls for more than just developing a product, pricing it, promoting it and making it accessible to target the customer. It demands building trust, a binding force and value-added relationship with the purchasers.