Download This PaperThe Effect of Customer Relationship Management (CRM) Factors on Improving Satisfaction and Loyalty of Customers
International Journal of Advanced Research in Management (IJARM), Volume 1, Issue 1, January-December (2010), pp. 80-86
7 Pages Posted: 11 May 2020
Date Written: 2010
Abstract
Purpose: Customer relationship is concerned as the suitable approach for managing interaction of current and potential customers. This generally leads to improve relationship with client and improves loyalty with the customers. The research paper analyse the effect of customer relationship management (CRM) on improving satisfaction and loyalty of customers within the business. This is one of the effective strategies that help business to enhance the competitive advantage of business. In the current paper, different factors of CRM are measured that include employee behaviour, customer service quality, relationships, and interaction.
Methodology: The paper generally considers the employees and customers of departmental store in Bikaner. The paper applies quantitative approach and would survey 100 customers of departmental store. Questionnaire is designed as per the Likert scale. Generally random sampling is being used to survey the respondents. Therefore, multiple regression analysis is being effectively used to assess the relationship between CRM and customer satisfaction with its associated elements.
Results: Findings of the paper convey that there is direct relationship associated between customer satisfaction and contribution of the employees. Thus, paper also conveys that effective management of CRM elements develop stronger satisfaction of customers and enhance loyalty with them.
Conclusion: Paper concludes that CRM is one of the effective strategic approaches that would lead to long term retention of the customers and maintain sustainability in profits. Also paper concludes about stronger interrelation between CRM and customer satisfaction. It is necessary for organisation to regularly check on measuring customer satisfaction and loyalty with the customers.
Keywords: Customer relationship management, customer loyalty, customer retention, managing interaction
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