CUSTOMER RELATIONSHIP MANAGEMENT (CRM) IN AUTOMOBILE INDUSTRY

Law

NATIONAL CONFERENCE ON EMERGING TRENDS IN BUSINESS: Social and Legal issues in India

Customer Relationship management concept and its impact on customer loyalty is gaining more and more attention in present business world. Companies are focusing on retaining their loyal customers rather than gaining new. One such strategic focus is customer loyalty, which should be viewed as a “must” for automakers hoping to compete. Unlike other consumer products with more frequent replacement cycles, auto buyers often don’t return to market for three or four years or even longer. Some empirical evidence suggest that it costs significantly less to retain an existing customer than it does to acquire a new one, making loyalty especially critical in times when corporate marketing budgets are scrutinized. The main aim of this paper to evaluate the impact of CRM benefits on customers’ loyalty and retention for the benefits of enterprise and customers itself. The results revealed the significant factors that lead to the customer loyalty for automobile was trust associated with on time service delivery, Promptness in handling repair work, friendliness helpfulness, arranging replacements and fulfill its obligation to customers.

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