Customer Relationship Management: A Dynamic Tool for Customer Satisfaction, Customer Retention & Customer Loyalty

Customer Relationship Management is directly related to satisfaction of customers’ needs. CRM takes care of expectations of the customers and about what and how a product is presented to the customer. CRM is the system that integrates management of customer groups, establishment and management of marketing companies referring to marketing concept, especially relationship marketing. Making a practical definition, CRM is “The ability of an organization to effectively identify, acquire, foster and retain loyal profitable customers.” Coming to the objective, the main objective of this study is to realize the importance of Customer Relationship Management (CRM) in the present scenario of globalization and internationalization. Rationale is viable reasonable approach which is based on natural values related to betterment of humanity. No doubt recent practices have changed but the rationale approach demands honest dealings and proper CRM and supply ofproper material which are in the interest of the customers as well as proving the integrity of the manufacturers and suppliers. Research Methodology used to conduct this study includes questionnaires, telephonic interactions and personal interviews of marketing professionals. Coming to the findings, CRM is a dynamic tool for satisfying the needs of external as well as internal customers leading to customer retention and customer loyalty. No doubt, originality is related to every individual independently, but mostly it depends upon the values that hold age old thoughtfulness in the best interest of humanity. We express it in different ways which become a part of our originality.