A Study on Role of Information Technology (IT) in Retail Business Create Long Term Relationship with Customers

Abstract

Customer relationship management (CRM) is an approach to accomplish a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically concentrating on customer retention and ultimately driving sales growth. Customer relationship management (CRM) is becoming a key practice for retailers looking to increase sales and profitability. As more and more organizations understand the significance of becoming customer-centric into day's competitive era, they adopted CRM as a core business strategy and invested profoundly. CRM, integration of information technology and relationship marketing, provides the infrastructure that facilitates long-term relationship building with customers at an enterprise-wide level. Researchers and retailers have recognized the importance of providing a high level of service to customers. The management should emphasis on gaining customer loyalty by attractive customer perceptions of service quality and increasing the professed consumer value. With the help of information technology, retailers try to maintain a good relationship with customers and make them satisfy that leads to create customer loyalty.