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The CRM is a new technique in marketing where the marketer tries to develop long term
relationship with the customers to develop them as life time customers. CRM aims to make the
customer climb up the ladder of loyalty.
The company first tries to determine who are likely prospects i.e. the people who have a strong
potential interest in the product and ability to pay for it. The company hopes to convert many of
its qualified prospect into first time customers and then to convert those first time customers into
repeat customers. Then the company tries to convert these repeat customers into clients they
are those people who buy only from the company in the relevant product categories. The next
challenge for the company is to convert these client into advocates. Advocates are those clients
who praise the company and encourage others to buy from it.
The ultimate challenge is to convert these advocates into partners where the customers and the
clients work actively together to discover ways of getting mutual benefit.
Thus in CRM the key performance figure is not just current market share but share of life time
value by converting customers into partners.
In CRM the company tries to identify that small percentage (20%) of key account holders whose
contribution to the company revenues is high (80%). So from this point of view, CRM is also

Eight ways to keep customers for life

1. Every part of the companys marketing effort should be geared towards building lifetime
2. People want to do business with friendly people. To have effective relations a friendly attitude
must permeate in the organization.
3. Information technology developments should be positively used to serve the customers.
4. The company should always be flexible to bend its rules and procedures in the clients favor.
5. The company should communicate with its customers even when it is not trying to sell
6. The company can communicate and develop stronger customer bonding by providing financial
and social benefits.
7. The company should try to know all its customers including their lifestyles, hobbies, likes and
dislikes etc.
8. The company should make it a point to deliver more than what is promised.

Review of the existing literature
With the available literature we can summarize CRM in the words of various authors as followsAccording to Shani and Chalarani Customer Relationship Management marketing can be
defined as an integrated effort to identify, maintain and build up a network with the
individual customers and to continuously strengthen the network for the mutual benefit of
both parties, through interactive, individualized and value added contracts over a long period
of time.
In the words of Lekha CRM aims at delivering better products and value to the customers
through better understanding of his needs.
A firm in textile industry has to maintain good relations with its customers. They have to retain
the customers for a long time to avail the benefit of their relations. The customer relationship
management is one of the effective tool to identify, establish and maintain relationship with the
customers. With the help of this research we are going to identify the importance of CRM in
textile industry.
Focus of the problem
The textile industry is basically manufacturing based industry. Through this study we are going
to identify the importance of CRM in the textile industry. How it is benefited from CRM? Is their
any relevance of implementing CRM? And what role does information technology can play in
There are many aspects of CRM which were mistakenly thought to be capable of being
implemented in isolation from each other. [3]

From the outside of the organization, a customer experiences the business as one entity operating
over extended periods of time. Thus piecemeal CRM implementation can come across to the
customer as unsynchronized where employees and web sites and services are acting
independently of one another, yet together represent a common entity.
CRM is the philosophy, policy and coordinating strategy connecting different players within an
organization so as to coordinate their efforts in creating an overall valuable series of experiences,
products and services for the customer.
The different players within the organization are in identifiable groups:

Customer Facing Operations - The people and the technology support of processes that
affect a customer's experience at the frontline interface between the customer and the
organization. This can include face to face, phone, IM, chat, email, web and combinations
of all media. Self-service kiosk and web self-service are doing the job of vocals and they
belong here.

Internal Collaborative Functional Operations - The people and technology support of

processes at the policy and back office which ultimately affect the activities of the
Customer Facing Operations concerning the building and maintaining of customer
relationships. This can include IT, billing, invoicing, maintenance, planning, marketing,
advertising, finance, services planning and manufacturing.

External Collaboration functions - The people and technology support of processes

supporting an organization and its cultivation of customer relationships that are affected









outlets/distributors. Some would also include industry cooperative networks, e.g.

lobbying groups, trade associations. This is the external network foundation which
supports the internal Operations and Customer facing Operations.

Customer Advocates and Experience Designers - Creative designers of customer

experience that meet customer relationship goals of delivering value to the customer and
profit to the organization (or desired outcomes and achievement of goals for non-profit
and government organizations)

Performance Managers and Marketing Analysts - Designers of Key Performance

Indicators and collectors of metrics and data so as to execute/implement marketing
campaigns, call campaigns, Web strategy and keep the customer relationship activities on
track. This would be the milestones and data that allow activities to be coordinated, that
determine if the CRM strategy is working in delivering ultimate outcomes of CRM
activities: market share, numbers and types of customers, revenue, profitability,
intellectual property concerning customers preferences.

Customer and Employee Surveyors and Analysts - Customer Relationships are both fact
driven and impression driven - the quality of an interaction is as important as the
information and outcome achieved, in determining whether the relationship is growing or
shrinking in value to the participants.

Technology considerations
The basic building blocks:
A database for customer lifecycle (time series) information about each customer and prospect
and their interactions with the organization, including order information, support information,
requests, complaints, interviews and survey responses.
Customer Intelligence - Translating customer needs and profitability projection into game plans
for different segments or groups of customers, captured by customer interactions (Human,
automated or combinations of both) into software that tracks whether that game plan is followed
or not,and whether the desired outcomes are obtained.
Business Modeling Customer Relationship Strategy, Goals and outcomes: Numbers and
description of whether goals were met and models of customer segments and game plans worked
as hypothesized.
Learning and Competency Management Systems - Customer Capacity and Competency
Development - Training and improving processes and technology that enable the organization to
get closer to achieving the desired results. Complex systems require practice in order to achieve

desired outcomes, especially when humans and technology are interacting. Iteration is the key to
refining, improving and innovating to stay ahead of the competition in Customer Relationship
Management. (Successful tools, technology and practices will be copied by the competition as
soon as they are proven successful.) The building blocks can be implemented over time
separately, but eventually need to be dynamically coordinated. The ongoing alignment of the
basic building blocks distinguishes an elegant seamless CRM implementation which successfully
builds mutually valuable relationships.
Operational CRM
Operational CRM provides support to "front office" business processes, including sales,
marketing and service. Each interaction with a customer is generally added to a customer's
contact history, and staff can retrieve information on customers from the database when
necessary.One of the main benefits of this contact history is that customers can interact with
different people or different contact channels in a company over time without having to describe
the history of their interaction each time.
Consequently, many call centers use some kind of CRM software to support their call center
Operational CRM processes customer data for a variety of purposes:

Managing Campaigns

Enterprise Marketing Automation

Sales Force Automation

Criteria for creating value for customers:

Technology for relationship marketing:
Technologies can be regarded as our efficient and reliable friend. But technology, if
inappropriately applied, it can effectively push a customer away. However, technology has come
to stay. Companies are investing heavily in technologies associated with computing and

communication-within their enterprises, between themselves and their customers, distribution

channel, intermediaries and suppliers. Data warehouses are proliferating. Companies of all size
strive for computerizing all their activities and thus making the process more uniform.
In this digital era, there are 11 Cs of relationship marketing that can come together
simultaneously to create the value for the customers. These 11 Cs are.
Criteria for creating value for customers:
These are explained below:
1. Customer:
Technology provides the computing and communication capabilities that help the relationship
marketer decide on which customers to focus and facilities the interactions needed, both with the
enterprise and with its customers and suppliers, to deliver customer value. Without technology,
marketers would still be thinking in terms of serving the mass market or market segments. They
would still be thinking in terms of serving the mass market or market segments. They would still
be thinking in terms of broadcast, one-to one communication. They would be thinking in terms
of long production runs of standardized products, one size fitting all. With technology, the
specific customers with whom the company wishes to do business can be identified and further
evaluated for their worthiness to pave way for a long term relationship. If the data warehouse is
built appropriately, the marketer should be able to slice and dice the data a number of ways, so
that even people who are not trained in technology can use it easily.
2. Categories of goods and services:
Technology can also help the company take two key strategic decisions; what categories and
types of goods and services should we provide to our customers and should we ourselves
produce the goods and services that customer want?
3. Capabilities:
Technology has vital roles to play in the advancement of a companys capabilities. The
implementation of technology itself comprises the heart of the relationship marketing.
Computing, data warehousing, website or interactive voice response etc.

4. Cost, Profitability and Value:

Technology can help the company manage the costs of securing, serving and retaining customers
by allowing marketers to understand, in real time, the revenues and cost associated with each
other. This can obviously help the relationship marketer to control and focus the relationship.
Technology can also intercede and help manage the costs and value of the relationship, drawing
upon previously developed business rules. Business rules incorporate decisions that a
management makes to guide the administration of its business and interaction with customers.
5. Control of the contact to cash processes:
Whatever the role of technology, it must have a control function to ensure that value is indeed
being created for customers and for the company, and that bills are sent and payment received on
time. Most companies have invested heavily in information systems that have served well for
company-driven marketing, from the firm to the market. Now, with the boundaries of the
enterprise blurring, with customer framing the value that each want and initiating the purchase
decision, dimensions of control are becoming very tactical and strategic.
6. Collaboration and Integration
When the customer is invited into the process that creates value for her, she is more likely to
increase the level at which she is bonded to the company. The process which creates the value
she seeks could be in any or in all process. Thus, the customer could work with a vendor to
collaborate in areas such as product and service. Conceptualization, design, development ,
production to order, value bundling, distribution and service/support.
Technology can help customers collaborate with their suppliers to create mutual value. Electronic
Data Interchange, in particular, has had significant impact on order taking, shipping and
invoicing processes, causing improved turnaround of orders, cash flow and structural bonding.
7. Customization
Customization should not be confused with personalization. Customization allows the company
or the customer or both to develop a product, service or communication that reflects the value the
customer wants. Personalization is the process that enables communication, product and service

to bear the name of the customer, adding value to the customer as they position themselves with
others. When personalization is combined with customization, people start reaching for their
8. Communication, Interaction and Positioning:
Mass marketing required mass promotional vehicles such as TV, radio, news papers and
outdoor media. In a Fragmented market, the promotion channels are much narrower and more
highly targeted; including specialized magazines, advising on everything from park benches to
ski chair lifts, etc that is broad casting first became narrow casting and has now become Point
casting. When point casting is interactive and real time, it may be termed conversing just as a
conversation between people. Conversing occurs at the initiation of either the customer or the
company and can involve technology such as call centre, the internet or interactive voice
response and others. Other forms of interactive communication has emerged, including
interactive telephones-based communication, using the call centre, for so called Telemarketing
or Telesales, and communication over the internet that offers an opportunity to engage supplier
,called web casting
Technology can help the company to converse with individuals at a cost that reflects the value of
the communication, and can discriminate among the purpose of different communication
assigning the appropriate media to fulfill the each task.
Technology provides knowledge and insight to let the firm contact the customer at the right time
i.e, when they are ready to buy- and use the media each customer prefers to reach him/her. Using
intelligent agent- a software that can search for information, customers can even specify the
information to be sent and then the agents can go on to the web to find the information wherever
they have been programmed and send information as specified to each customer.
9. Customer Measurements:
Technology can assist the company to understand current and emerging customer issues while
there is still time to address the problems without damaging the relationship. For example,
measurements can be maintained on time liners of delivery, waiting time before customer calls
are answered, and time to address customer complaints. All this can be done in the background,

using technology to manage the information and provide management reports. Technology can
also be used to track measurement such as customer profitability, share of customer expenditure
and the customers state of mind , with research data logged into database. Once compensation is
linked to customer measurements, such as these, this

area will assume unprecedented

importance and attention.

10. Customer Care:
Technology has a major role to play in providing customers with the attention they seek. The
internet can be particularly cost effective in shifting cost structure from human operation.
11. Change of Relationship:
A chain of relationship comprises the series of linkage between the end customers and all the
stake holders which contribute to the value they receive. These stake holders include suppliers,
distribution channel intermediaries, employees, customers and others, such as investors and the
board of directors. They are all to be forged into strong chains that will all ever increasing value
to the end-customers relationship. The relationships the company forms with end-customers will
be only remain as the weakest link in the chain. All efforts are needed to maintain and deepen the
relationship with the end-customer.
Technology has a important role in the structural bonding among all the components of the chain
of relationship. For years, companies have used independent and often proprietary solution-those
that they develop themselves to achieve this bonding. They put this software and/or hardware on
their customers premises to give them power to initiate paperless ordering.






Cost profitability & value


Demand Cycle


Control of the contact to cash



Collaboration Integration

Contact to Cash




Customer Value

Communication, Interaction,

Customer Measurements

Customer Care

Chain of relationships


11cs pf Relationship Marketing


Technology the key to Relationship Marketing Process

CRM Technology tools:
I. Integration of CRM with ERP:

An ERP (Enterprise Resource Planning) system allows to integrate engineering, customer

service, planning materials, manufacturing, finance and human resources across a single facility
or across multiple locations.
Need to integrate CRM with ERP solutions:
There are number of reasons why business should integrate CRM and ERP solutions. Companies
with high volumes of sales transactions see almost immediate benefits in order-to-cash process.
Specifically, the cost savings come from reducing errors in order entry, implementing approval
workflows for discounts, and reducing the manual labour required to enter orders in both CRM
and ERP. Even organizations with relatively low order volumes can experience significant cost
reductions through improved order accuracy.
There are several marketing benefits associated with integrating CRM and ERP, such as greater
insights into customer base. ERP systems store customers financial relationship with the
company. CRM solutions store their buying patterns and marketing demographics. Unifying
these two stores of customer data can help organizations ensure that their sales, marketing and
service expenditure are targeting their most valuable customers and prospects.
To make integration successful, it is important to work with business-solution expert who will
provide the company with the insight needed to select an integration architecture and
development plan, based upon functional needs and technical suitability.
II. Using the Internet in CRM:
The Internet is already being used to great advantage in CRM. It is indeed an ideal medium for
effective customer contact and customer care/service in several businesses. Many companies in
these businesses thrive by opting for the Net in handling customer relations and providing
service to the customers.
Forming Virtual Customer Communities:
Today, customers everywhere are forming self-servicing, tight knit virtual communities.
Internet chat rooms a part of this process. The chat rooms are easy to start, join and participate.
And they accommodate people with different personalities. These virtual communities exercise a

powerful influence on the market in respect of several products. The power becomes all the more
significant in view of the speed with which they can be mobilized. Words spread fast on the
Internet. Marketers can form their own virtual communities as a part of their CRM programmes.
Impact of the Internet:
Communicating well online is becoming more important than communicating well over the
telephone. That may sounds like a contrived exaggeration but consider the transitory nature of
the phone call and the permanence of an e-mail.
Whether a company grants a refund to a customer based on a misunderstanding over the phone
has to do with company policy and the relative status of the particular customer, than with the
actual content of the call.
On the other hand, email stands as testimony to the words that were exchanged. An email can be
saved by both sides, without worrying about the legality of recording a telephone call. Some
calls may be recorded for training and quality purposes is very different from All Calls can and
will be recorded, tabulated, indexed and stored in case of disputes. Email however can much
more become part of customers permanent record along with invoices and packing lists.
III. Full-Fledged e-CRM:
While practically all the firms use Internet in CRM to some extent, and some also promote
appropriate virtual customer communities, some of them go further step and carry out their CRM
entirely electronically, as their business lend for such an approach. Electronic CRM (e-CRM)
simply means total online management of customer relationship. e-CRM does electronically all
the things a normal CRM does offline.
Let us take Upselling and Cross selling as an example .Suppose a customer buys a couple of
books on a particular subject from a certain web book shop. The e-CRM system of the shop/site
will take care of up selling and cross selling requirement. The next time a new book on the
subject or any related subject is out, the customer will automatically and immediately get an
intimation of it.


E-CRM enables web base customer interaction, automation of e-mail, call logs, website
analytics, partner relationship management and campaign management.
Survey Management Software: Survey Management software automates an enterprise to create
electronic surveys, polls, questionnaires and enables understand customer preferences and
customer service.
Contact Management Software: This enables an enterprise to create, track and manage
partnerships, contracts and agreements etc. It also enables to provide call centre service and help
desk service.
Lead Management Enterprise: Lead management Software enables an organization to manage,
track and forecast sales leads. It also helps to understand and improve conversion rates.
Factors behind the big growth in e-CRM:
Mainly, it is the proliferation of e-businesses /click and mortar businesses that has led to the big
growth of e-CRM. Besides their proliferation, their coming under competitive environment too
has been a reason. In these businesses, e-CRM fills this void. To an extent, the non e-businesses
too have contributed to e-CRMs growth, as a good part of their customers could be approached
through the Internet.Expansion in iInternet penetration and proliferation of portals has been
supporting the growth.
Data warehousing :
A data warehouse is a repository of an organizations electronically stored data. Data Warehouse
are designed to facilitate reporting and analysis. This classic definition of the data warehouse
focuses on data storage. However, the means to retrieve and analyze data, to extract, transform
and load data, and to manage dictionary data are also considered essential components of a data
warehousing system. An expanded definition of data warehousing includes business intelligence
tools, tools to extract, transform, and load data into repository, and tools to manage and retrieve
Benefits of Data warehousing :
Some of the benefits that a data warehouse provides are as follows:

1. A data warehouse provides a common data model for data, regardless of the datas
source. This makes it easier to report, analyze information than it would be if multiple
data models from disparate sources were used to retrieve information such as sales
invoices, order receipts, general ledger charges etc.
2. Prior to loading of data into data warehouse inconsistencies are identified and resolved.
This greatly simplifies reporting and analysis.
3. Information in the data warehouse is under the control of data warehouse users so that,
even if the source system data is purged over time, the information in the warehouse can
be stored safely for extended periods of time.
4. Because they are separate from operational systems, data warehouses provide fast
retrieval of data without slowing down operational systems.
5. Data warehouses facilitate decision support system applications such as trend reports
(e.g. Items with the most sales in a particular area within the last two years), exception
reports, and reports that show actual performance versus goals.
6. Data warehouses can work in conjunction with and hence enhance the value of
operational business applications, notably customer relationship management systems.

Call Center Process:

The Call center is the real operation theatre in telemarketing. In a CRM call center, customers
communicate in many ways that include phone, e-mail, web chat, personal sales representative,
Voice over Internet Protocol (VoIP) and a host of others. Several telecallers are hired for tele call
CRM call centers help companies realign their entire organization around customers. And thus, it
is a strategic business initiative sales, marketing and services as well as other groups are
connected and coordinated through the CRM applications. Before a call is made to the customer,
all recent activity with that customer should be reviewed. Then a sales strategy needs to be
planned , based upon observed opportunities. The use of CRM software in the Call centre allows
the assignment of a value to each customer if the culture supports that philosophy.
How the Call Center works?

It usually has a manager in overall charge, a few supervisors and the required number of telecallers. Normally, the tele-callers are grouped in teams of six or seven callers, each supervisor
handling one such team. The tele-callers sit in front of a computer terminal and speak into their
headsets as telephone operators do in any telephone exchange. Simultaneously they access
information on the terminal, and add fresh data on it as the tele-calling progresses.
The tele caller opens the call by greeting the prospect appropriately. Then she politely seeks the
customers permission to have a brief conversation. She strikes the right chord with the prospect
and explains the offering. She generates adequate interest in the product and tries to clinch an
order. If this step does not materialize, follow up calls are made to secure the order.
The tele-callers are usually provided with a script with which they practice a game. Once they
become comfortable, they resort to improvisation as required and try to make tele-marketing
more effective. The scripts for the calls are worked out jointly by the telemarketer and
professional consultants hired by the telemarketer. They are also pre tested with a few prospects.
The supervisor is always available close at hand , she keeps track of productivity and the call
quality of her team.
Advantages of CRM Call Center:
CRM helps the company identify most valuable customers and understanding their life time
values. Using CRM, the call centers design the organization systems and service to best meet the
needs of customers and maximize their value. CRM is intended for long term relationship
building. Besides capturing the different forms of customer interaction, CRM allows to capture
and store all available customers in the central history database. This allows agents the ability to
pull up a customers entire history while the two interact. Communication and service are more
effective and efficient. Most CRM products also track trends in purchasing and customer
Requirement Analysis:
CRM Business Transformation Process:


In most companies, the business focus, organization structures and related business metrics are
the biggest inhibitors of CRM initiatives. All areas of the organization will have to change, in
order to truly support and foster CRM initiatives.
The CRM Business Transformation Map below shows the various aspects of that change. There
are five inter-related areas. These include:
Business Focus
Organisation structure
Business Metrics
Marketing Focus
Business Focus:Product






Organization structure:
























Product Management
Business Metrics:
Product performance

& Lifetime




Marketing Focus:
Mass Advertising










Specific Relationship

Transaction Processing









Data Marts

Touch point

Five Core Areas of Business Transformation


The Chart depicts typical stages of transformation within established organizations. The stages of
transformation proceed from left to right i.e from product to customer. it is important to note that
movement from one stage to another does not equate to abandoning the previous stage. Rather, it
is a matter of an organization shifting its emphasis over time.
Transforming the Business Focus of an organization essentially means getting the organization
to buy in the customer-focused paradigm. The business focus may shift from How can we
increase the sales of our products to what our customer needs? There may be stages of sales,
channel, marketing and service focus during the transformation process. The Business Focus
transformation is obviously critical to the success of any CRM initiative.
Changing the organizational structure of a company goes hand in hand with the changes in
business focus. Most organizations today retain a product focus with product managers driving
business decisions. The transformation to a customer focused organization should lead to literally
organizing around your customers., assigning customer segment managers responsibility for
acquisition, retention and growth of different segments of customers. This is a major hurdle for
most organizations, as it often means augmenting their existing product or channel structure with
customer management staff and additional headcount.
Transforming the Business Metrics should be a by-product of the changes noted above .In this
case, the shift is from a single focus on product performance. and /or promotion performance, or
decentralized views of these metrics, to a focus on customer lifetime value and loyalty. Rather
than simply measuring response rates and product profitability, theyre asking the critical
questions Do we have profitable relationship with our customers? How can we make these
relationships more profitable? Once again there is a gradual shift, they dont abandon the
product, place, program and revenue measures immediately, but they do begin to shift some of
the focus to the ultimate question of customer relationships.
Changing the Market Focus of the organization from mass to interactive dialogue is essential.
This transformation seems to receive the most attention, in many marketing circles today. It is
important to note that while companies are increasingly investing in one-to one dialogue, mass
marketing communication still plays an important role in generating broad-scale awareness and

Finally, there is a Technology Transformation. As with marketing focus, this area has received a
great deal of attention in data base marketing areas. It seems that everyone has a CRM to sell.
CRM technology must support and enable meaningful customer dialogued at all points of
contact. Technology is actually the easiest of the areas to change. Companies can buy their
way over to the right hand side of the transformation map. Because of this, technology often
gets ahead of the other areas of transformation. Technology plays a critical support role, but
should not be the driver of CRM initiatives.

Planning for Transformation:

Because transforming the organization must be a proactive effort,an enterprise-wide planning
initiative will be critical. In fact, effective and successful execution of CRM requires that the first
step be the development of a very detailed and comprehensive CRM action plan.
The key to building the CRM action plan lies in first understanding where the organization
stands relative to each of five aspects of change. The next step is planning process should be a
Gap Analysis. This analysis is essentially a comparison of current stage against optimal, relative
to the five aspects of business, to identify and specifically describe the gaps. In addition to the
more obvious gaps, this analysis should identify exactly where the CRM organizational holes are
relative to:

Marketing, sales and service practices

Collection, capture, processing and deployment of customer information

Distribution and operations effectiveness at customer touch points

Another key factor in identifying gaps is to understand how the organization functions relative to
the CRM Business Cycle. In the CRM business Cycle, the stages are interdependent and
continuous. As one moves from one stage to the other, one gains sufficient insight and
understanding that enhances subsequent efforts.


As shown in the diagram, for any organization, business starts with acquisition of customers.
However, any successful CRM initiative is highly dependent on a solid understanding of the
Understand and Differentiate:
Organizations cannot have relationship with the customers unless they understand them-what
they value, what types of service are important to them, how and when they like to interact, and
what and when they want to buy. True understanding is based on a combination of detailed
analysis and interaction. To create and foster a relationship, organizations have to act on what
they learn about customers. Customers need to see that a company is differentiating service and
communication based both on what they have learned independently and what the customers
have told them.
Develop and Customize:


In the product oriented world of yesteryears, companies develop products and services and
expected customers to buy them. But in todays customers focused world, product and channel
development have to follow the customers lead. Organisations are increasingly developing
products, services and even new channels, based on customer needs and service expectation.
Interact and Deliver:
Interaction is also a critical component of a successful CRM initiative. It is important to
remember that interaction doesnt just occur through marketing and sales channels and media;
customers interact in variety of ways with different divisions of the organization, including
distribution and shipping, customer service and online.
To foster relationships, organizations need to ensure that
All areas of the organization have easy access to relevant, actionable customer
All areas are trained how to use customer information to tailor interactions, based on both
customer needs and potential customer value.
With access to information and appropriate training, organizations will be prepared to steadily
enhance the value they deliver to customers. Delivering value is a cornerstone of any
relationship. Value is not price of the product or the discount offered. In fact, customer
perception of the value are based on a number of factors ,including the quality of products and
services, convenience, speed, ease of use, responsiveness and service excellence.
Acquire and Retain:
More the organizations learn about customers, easier it becomes for them to identify areas that
fetch great value for the organization. Those are the customers and customer segments a
company will want to clone in its prospecting and acquisition efforts. And, because they will
continue to learn about what is valuable to each segment, they will be much likely to score a
win with the right channel, right media, right product, right offer, right timing and most
relevant message.
Successful customer retention is based simply on the organizations ability to constantly deliver
on three principles:

Maintain interaction, never stop listening

Continue to deliver on the customer definition of value.
Remember that customers change as they move through differing life stages. Be alert for
the changes and be prepared to modify the services and value proposition as they change.

Prioritizing the changes:

Since there might be many gaps, an organization has to be prepared to make several changes to
make, prioritization is critical. The organization should evaluate each of the strategies identified
to plug gaps based on Cost: To implement including initial one-time costs, as well as anticipated on-going

Overall benefits: Some changes may have larger impact on the organizations ability to

increase customer value and loyalty.

Feasibility: Based on organizations readiness, data and system support resource skill-

sets and a number of other factors.

Time required: including the time necessary for training and addressing cultural

change management issues related to a specific strategy.

Measuring Success:
Implementing CRM is time consuming and demands a significant commitment across the crosssection of the organization. It is crucial that the action plan Establish means of measuring your progress on CRM initiatives
Establish enterprise wide measures of success and metrics that can be applied to all of
your CRM initiatives.
Apply these metrics on an ongoing basis to ensure continued funding of your CRM
A common challenge in many organizations is that various groups, departments and divisions
have varying means of measuring and reporting on the success of their CRM and customer
related initiatives. Some may look at response rates and others may look at capture rates. Some

may look at increasing in average order, others may look at number of contacts required to close
a sale. Needless to say, the result is a lack of consistent results on CRM initiatives, and confusion
between departments ad in senior management about the measures of success of these initiatives.
Ideally, each of the potential initiatives should be tied to projected improvements in customer
dynamics-acquisition, retention, penetration and/or reactivation. The next step is to determine
how improvements in these dynamics impact revenues, costs and/or competitive differentiation.
Finally, it is important to establish universal metrics around these customer dynamics.
Each of these four dynamics can be measured by the following: percentages, number of
customers, number of products per customer etc.
Since customer relationships represent ongoing investments, it is important to also project the
future behavior and projected value of your customers while measuring the success of your CRM
initiatives. This is the concept of Lifetime Value (LTV).
A customer scorecard can be developed to reflect customer dynamics in a way that is most
meaningful to your organization, This scorecard should reflect measures of acquisition, retention,
penetration and reactivation across al business lines,divisions and functional areas. The customer
score card concept reinforces the concept of cumulative enterprise-wide impacts on customer
relationships. A scorecard should be fairly simple in order to facilitate easy understanding.
CRM implementation:
The following are the guidelines to follow before CRM is implemented at the company.
1. Develop corporate wide CRM engagement from key shareholders:
Many CRM projects fail because critical stakeholders are not involved in setting CRM strategy,
assessing requirements and selecting options.
2. Envision the companys CRM strategy:
CRM is more than just a software. It is also about selecting appropriate methodologies and
business practices to help your business enable better relationships with customers. Set some

high level customer relationship goals in areas such as increasing customer retention, speeding
problem resolution, closing a higher percentage of sales etc.
3. Determine and Prioritize CRM drivers and requirements:
Priorities such include solving problems in the areas such s functional areas that are causing the
most pain, cost and missed opportunity for the business, areas where employees are most or least
resistant to changing business, weaknesses compared with competitors, complexity of each area
that require addressing and identifying other systems with which it needs to integrate.
4. Develop a CRM roadmap:
Develop a master plan consisting of several smaller steps and projects that will take you towards
achieving the corporate CRM vision. For each step spell out key outcomes and metrics, roles and
responsibilities, budgets and timeli:nes. Start with low-risk/high reward projects to build
momentum and success. Make sure all key stake holders in each project are included up front in
solution evaluation and implementation process toe ensure faster, higher user adoption at the end.
5. Think Integration:
Determine how, where and when CRM tools need to integrate with one another and with other
applications. This includes evaluating the business processes flow, and identifying processrelated customer interactions and transaction that need to be integrated.
6. Do Your Homework and create a short list:
Check out prospective vendors financial and customer references. Talk to peers who have more
experience in the CRM area, search websites and pursue publications.
7. Apply the 80-20 rule in the selection process:
Compare how vendors stack up in terms of solution strengths and weaknesses. Have vendors
spell out terms and conditions, through document pricing, training, methodology, milestones and
metrics for successful deployment.
8. Keep everyone in the loop:

Once you have made a selection, err on the side of over communicating. Get internal evangelists
involved early, and encourages inputs along the way as you roll it out. Offer flexible training
options to help accommodate different schedules and learning preferences. This will also speed
adoption and produce benefits more quickly.
9. Learn, Adjust and Evolve:
Develop a mechanism to monitor use, get feedback and adopt the solution as necessary to make
sure its evolving with business and customer needs. Depending on the type of CRM package
deployed, you can use surveys, ongoing education, user groups and other venues to stay on top
of knowing how these needs are changing, as well as what types of adaptations the solution will
be needed over time.
CRM Software Selection:
Installing a good CRM software package is the cornerstone of any customer relationship
management program. Without good CRM software, gathering and storing the multitude of
details gained about a customer from each interaction would be very difficult.
Small business CRM software has gone ahead in leaps bounds in recent years, with several top
quality packages now available to choose from. Prior to beginning the search for good CRM
software technology however, there are a few basic features you should seek in a potential CRM
Basic Functions: The CRM software should manage data relating to both individuals and
companies and it should also provide time management features. As most businesses use
Microsoft Office, including Outlook, the CRM package should offer seamless integration with
MS Office and/or fax software, as the ability to compose letters, faxes and email without leaving
the CRM software is vital.
Recognised CRM Software Supplier: Do your research. Make sure your proposed CRM
software supplier is recognised in the industry and has a solid backing with reputable customer
testimonials and reliable 24/7 technical support.


360 Degree Customer View: It is important to know which people work for the same
company; who said, emailed or wrote what to whom, and when. These details need to be a single
click away. Does the CRM package you are considering provide this 360-degree view?
Seamless Connectivity: These days it is becoming more and more common for a growing
business and its mobile workforce to utilise networked access to a central database, to mobile
phones, and to PDAs. You need to ensure your CRM software package supports all the
connectivity required by your company.
Managing Campaigns: In order to optimize your business marketing dollars, tracking of
marketing campaigns and measuring their performance is critical. You will need a CRM package
which provides this function.
Managing Leads: If you want sales opportunities to become closed sales, tracking leads is of
prime importance. Make sure you select CRM software which provides lead tracking.
Data Transfer: Unless you are starting a business from scratch, you will probably need to
import information from previous software. Make sure you will be able to import directly,
instead of spending hours processing the data through an intermediate stage or even worse,
manually. You will also need the ability to export data in order to exchange information with
businesses who might use another CRM software package.
External Support: To get the most from any CRM package, you will find tips from fellow
users, industry-specific templates, plug-ins to be vital. Make sure the package you are
considering is well-known and supported.
CRM gurus Dr Martha Rogers and Don Peppers say that practising good CRM means you need
to develop a one-to-one learning relationship with each customer, over four stages:

It's about treating different customers differently. It requires a shift in thinking, perseverance,
discipline, and very good CRM software.
It will take you many interactions with a customer to improve identification of their details. You
will need many customers before you can place them in different segments and cater to their
needs by segment. It may take even longer before you know enough to customise individual
So get researching, for the very best computer CRM software technology suitable to your
business. Without it, you are certain to be pushing up hill in your quest to run a successful
customer relationship management program.
Reasons for failure of CRM Programmes:
Too often management views CRM as an easy solution to their business problems.It is often
initiatives begin and unfold the management realizes the gaps in the expectations. Some of the
causes of failure are:
1. Mistaking CRM as the substitute for good marketing management:
Many marketing managers view a CRM programme as the substitute for marketing management
assuming that the programme would lessen the hard work involved in marketing. They place
excessive expectation on the CRM software and think the software will by itself look after their
customer management tasks. No CRM programme can substitute the hard grind that marketing is
all about. CRM requires superior marketing managers and staff ,who are not only sensitive to
the customers, but also willing to put in the needed work in the execution of the CRM
2. Failure to appreciate the dynamic nature of marketing:
Customers needs and the value they perceive in various offerings are subject to change
overtime. Technology and environment too keep changing, affecting the firms customer
management strategy. When CRM programme does not take cognizance of this dynamism of
marketing, it fails.
3. Preoccupation with gathering of data and neglect of its application:

Application of the insights on customers to marketing action is the core of CRM.. The usefulness
of this expenditure depends entirely on the extent to the information is applied to marketing
4. Inadequate appreciation of the potential of the customer database:
The firms lack adequate appreciation of the potential customer base. Their CRM programmes
remain as just, PR programmes. They stop with just quarterly customer mailings or monthly
customer letters. Measurements of customer satisfaction and protocols for applying the results
there of for calculating the efficacy of marketing are usually non-existent.
5. Failure to use brand intelligibly in the CRM programme:
Using brand intelligibly is the key to successful mass marketing. It is seen whenever the brand
and its values are not utilized throughout the CRM process, the results are not favourable. The
way customers interact with brands has been changing in recent years. Multiple channels have
contributed to this. This means that in the present times, the brand must work in all the
channels/media and all the levels/touch points at which the communication take place. CRM
must first know how the customers consume its brand and how they relate to it. Using this
knowedge,the brands value proposition and the various benefits it offers should be tailored to
the individual customer and communicated to him in a specific way.
6. Reluctance to measure customer satisfaction precisely:
Manny managers are reluctant to precisely measure the level of customer satisfaction. They also
fail to set clear parameters/ metrics for this measurement. Obviously, these managers have no
way of finding out whether CRM implementation has brought in benefits or not.
7. Failure to follow up the feedback from the customers:
Analysis shows that in many cases, firms painstakingly gather feedback from customers, but
afterward forget about it completely. After coercing the customers to fill in any number of
feedback forms, suggestion forms and survey questionnaires, they make no attempt to action the
feedback or to initiate a further dialogue with them. This is worse than not gathering feedback at

8. Reluctance to share the data on customers with all staff:

Many firms have a protectionist approach to information. Their thinking is that information
should be made available only on a need to know basis within the organization and must be tied
closely to rank. This is anti-ethical to CRM. CRM programmes believe in making all relevant
information available to all those in the organization, who interact with the customer in one way
or the other.
9. Ignoring the need for efficient, trained, well-motivated employees:
Happy customers are the outcome of happy and well motivated employees. And such employees
bred only in great workplaces. Companies can succeed in CRM only by having efficient, wellmotivated and happy employees. The challenge is often with the speed of response. The firm
must resolve customers problem adequately and quickly. Employees with the right motivation
customer first attitude creates a satisfied customer.
10. Some CRM programmes incur very high costs:
Running a CRM Programme, especially the creation and maintenance of an effective customer
database involves significant costs. There are software costs, hardware costs, systems cost,
people related costs, training and motivation costs and so on. The business must be capable of
generating such revenues and profits that costs of CRM programme do not pose a problem at all.
There must also be proper control of the costs of CRM-both investment costs and operation
costs. The CRM programme succeeds only when the net is positive.
11. Failure to appreciate that the scope for CRM varies over businesses:
All businesses and all customers do not lend the same scope or applying CRM. Failure to
appreciate this basic fact will lead the CRM programme to failure. For example, in FMCG
businesses where the end customers run into millions, and are distance from the company by
several tiers of middlemen and geography, a one to-one relationship is difficult to maintain.
They may be better of with traditional mass marketing/communication strategies.
12. Failure to fit in the needed flexibility:


In some cases, CRM programmes fail as they are designed without the needed flexibility. A rigid
structure will be incapable of supporting one-to-one marketing. It will not be able to respond to
individual customers needs in specific ways.
13. Poor planning affects business goals:
Poor planning affects the companys views of interaction with customers and increases the
chances of addressing the wrong issues. Planning must be based on creating new initiatives that
will make doing business better for the customer. It includes taking small steps to reach the larger
14. Resistance to Change:
Remaking a company to be genuinely customer-centric is new and uncharted territory and as
with anything new, there is always resistance to change. Change often forces people to regress to
what they know and protect what they have always been comfortable with.
15. Commitment from senior management:
A solid and total commitment from the most senior management is a must for the CRM project
work. The project must have a dedicated senior executive with the strength to sell the program
throughout the organization as is champion, assuring the companys commitment.
Analytical CRM
Analytical CRM analyzes customer data for a variety of purposes:

Design and execution of targeted marketing campaigns to optimize marketing


Design and execution of specific customer campaigns, including customer acquisition,

cross-selling, up-selling, retention

Analysis of customer behavior to aid product and service decision making (e.g. pricing,
new product development etc.)

Management decisions, e.g. financial forecasting and customer profitability analysis


Prediction of the probability of customer defection (churn analysis)

Analytical CRM generally makes heavy use of data mining.

Collaborative CRM
The function of the Customer Interaction System or Collaborative Customer Relationship
Management is to coordinate the multi-channel service and support given to the customer by
providing the infrastructure for responsive and effective support to customer issues, questions,
complaints, etc.
Collaborative CRM aims to get various departments within a business, such as sales, technical
support and marketing, to share the useful information that they collect from interactions with
customers. Feedback from a technical support center, for example, could be used to inform
marketing staffers about specific services and features requested by customers. Collaborative
CRM's ultimate goal is to use information collected from all departments to improve the quality
of customer service.[4]
Geographic CRM
Geographic CRM (GCRM) is a customer relation management information system which
collaborates geographic information system and traditional CRM.
gCRM combines data collected from route of movement, types of residence, ambient trading
areas and other customer and marketing information which are matched with relevant road
conditions, building formations, and a floating population. Such data are conformed with a map
and is regionally analyzed with OLAP(On-Line Analytical Processing) for visualization. This
enables a company to examine potential customers and manage existing customers in the region.
Several commercial CRM software packages are available which vary in their approach to CRM.
However, as mentioned above, CRM is not just a technology but rather a comprehensive
customer-centric approach to an organization's philosophy in dealing with its customers. This

includes policies and processes, front-of-house customer service, employee training, marketing,
systems and information management. Hence, it is important that any CRM implementation
considerations stretch beyond technology, towards the broader organizational requirements.
The objectives of a CRM strategy must consider a companys specific situation and its
customers' needs and expectations. Information gained through CRM initiatives can support the
development of marketing strategy by developing the organization's knowledge in areas such as
identifying customer segments, improving customer retention, improving product offerings (by
better understanding customer needs), and by identifying the organization's most profitable
CRM strategies can vary in size, complexity and scope. Some companies consider a CRM
strategy to only focus on the management of a team of salespeople. However, other CRM
strategies can cover customer interaction across the entire organization. Many commercial CRM
software packages that are available provide features that serve sales, marketing, event
management, project management and finance.
While there are numerous reports of "failed" implementations of various types of CRM projects,

these are often the result of unrealistic high expectations and exaggerated claims by CRM

vendors.Many of these "failures" are also related to data quality and availability. Data cleaning is
a major issue. If the company CRM strategy is to track life-cycle revenues, costs, margins and
interactions between individual customers, this must be reflected in all business processes. Data
must be extracted from multiple sources (e.g., departmental/divisional databases, including sales,
manufacturing, supply chain, logistics, finance, service, etc.), requiring an integrated,
comprehensive business processing system to be in place with defined structures and data
quality. If not, interfaces must be developed and implemented to extract data from different
systems. This creates a demand far beyond customer satisfaction to understand the full businessto-business relationship. For this reason, CRM is more than a sales or customer interaction
system. The experience from many companies [who?] is that a clear CRM requirement with regard
to reports (e.g., input and output requirements) is of vital importance before starting any

implementation.[citation needed] With a proper demand specification, a great deal of time and money
can be saved based on realistic expectations of systems capability. [citation needed] A well operating
CRM system can be an extremely powerful tool for management and customer strategies.

Research Gap
The CRM (customer relationship management) is an integrated effort to strengthen the network
of relationship for the mutual benefit of both the parties. The biggest management challenge in
the new millenium of liberalization and globalization for a business is to maintain good
relationship with the king the customer. This study is of great significance because
A 5% increase in the customer retention will increase the profit up to 125%.
It costs seven time more to attract a new customer than to serve an old one.
20% of the companys loyal customers account for the 80% of its revenues.

To study on customer relationship management would enable the researcher to know about
the CRM practices

Objectives of Study

To study the current practices of CRM.


To find out the impact of CRM on the profitability of the organization.


To study the factors affecting the CRM practices.


To study the role of information technology in CRM.


Hypothesis 1
H0 :- There is no difference between practices of CRM tradition and modern methods.
H1: There is a difference between practices of CRM in Tradition and modern methods.

Ho: There is no impact of CRM on the Profitability of the organization
H1: There is impact of CRM on the profitability of the organization

Hypothesis 3:

Ho: There is no association between the factors that affecting the CRM Practices
H1: There is an association between the factors that affecting the CRM Practices

Hypothesis 4:
Ho: There is no effect on the role of information technology on CRM
H1: There is an effect on the role of information technology on CRM

Limitations of the Study


Time constraint is unavoidable limitation of my study.


Financial problem is also there in completing this project in a proper way.


As no work has been done earlier in this regard so scarcity of secondary data is also there.


Inadequate disclosure of information is also the problem.


Period of the study

The study in limited for 45 days only

Research Methodology
A. Type of research is descriptive research by survey method.
B. Primary data is collected from the Reliance fresh customers and secondary data from
company profile, brochures.
C. Sample Size: 100 consumers. Collection Method: personal.
D. Tool: a structural questionnaire was prepared to collect information pertaining to the
study. The questionnaire was administered to reliance fresh customers.
a) Primary Data:
The data will be collected though holding discussions with the employees of the company
and discussing the questionnaires with existing customers of the company.
b) Secondary Data:
Secondary data will be collected from various sources like text books, journals, published
documents, annual reports, magazines and websites.

The research is primarily both explanatory as well as descriptive in nature. A well-structured
questionnaire was prepared and personal interviews were conducted to collect the customers
requirements, through this questionnaire.
a) Sampling Technique:
Random sample method.
c) Sampling size:
Sample size refers to number of elements to be included in the study.
Sample size is 100 customers of Reliance fresh
a. Percentages
b. Bar diagrams



Indian market has high complexities in terms of a wide geographic spread and distinct consumer
preferences varying by each region necessitating a need for localization even within the
geographic zones. India has highest number of outlets per person (7 per thousand) Indian retail
space per capita at 2 sq ft (0.19 m2)/ person is lowest in the world Indian retail density of 6
percent is highest in the world. 1.8 million households in India have an annual income of over 45
lakh (US$91,260).
Delving further into consumer buying habits, purchase decisions can be separated into two
categories: status-oriented and indulgence-oriented. CTVs/LCDs, refrigerators, washing
machines, dishwashers, microwave ovens and DVD players fall in the status category.
Indulgence-oriented products include plasma TVs, state-of-the-art home theatre systems, iPods,
high-end digital cameras, camcorders, and gaming consoles. Consumers in the status category
buy because they need to maintain a position in their social group. Indulgence-oriented buying
happens with those who want to enjoy life better with products that meet their requirements.


When it comes to the festival shopping season, it is primarily the status-oriented segment that
contributes largely to the retailers cash register.
While India presents a large market opportunity given the number and increasing purchasing
power of consumers, there are significant challenges as well given that over 90% of trade is
conducted through independent local stores.
Challenges include: Geographically dispersed population, small ticket sizes, complex
distribution network, little use of IT systems, limitations of mass media and existence of
counterfeit goods.
The largest form of organized retailing today. Located mainly in metro cities, in proximity to
urban outskirts. Ranges from 60,000 sq ft to 7,00,000 sq ft and above. They lend an ideal
shopping experience with an amalgamation of product, service and entertainment, all under a
common roof. Examples include Shoppers Stop, Piramyd, and Pantaloon.
Specialty Stores:
Chains such as the Bangalore based Kids Kemp, the Mumbai books retailer Crossword, RPGs
Music World and the Times Groups music chain Planet M, are focusing on specific market
segments and have established themselves strongly in their sectors.
Discount Stores:
As the name suggests, discount stores or factory outlets, offer discounts on the MRP through
selling in bulk reaching economies of scale or excess stock left over at the season. The product
category can range from a variety of perishable/ non-perishable goods.
Department Stores:
Large stores ranging from 20000-50000 sq. ft, catering to a variety of consumer needs. Further
classified into localized departments such as clothing, toys, home, groceries, etc.
Departmental Stores are expected to take over the apparel business from exclusive brand
showrooms. Among these, the biggest success is K Rahejas Shoppers Stop, which started in
Mumbai and now has more than seven large stores (over 30,000 sq. ft) across India and even has
its own in store brand for clothes called Stop.
Hyper marts/Supermarkets:

Large self-service outlets, catering to varied shopper needs are termed as Supermarkets. These
are located in or near residential high streets. These stores today contribute to 30% of all food &
grocery organized retail sales. Super Markets can further be classified in to mini supermarkets
typically 1,000 sq ft to 2,000 sq ft and large supermarkets ranging from of 3,500 sq ft to 5,000 sq
ft. having a strong focus on food & grocery and personal sales.
Convenience Stores:
These are relatively small stores 400-2,000 sq. feet located near residential areas. They stock a
limited range of high-turnover convenience products and are usually open for extended periods
during the day, seven days a week. Prices are slightly higher due to the convenience premium
Major Indian Retailers
Indian apparel retailers are increasing their brand presence overseas, particularly in developed
markets. While most have identified a gap in countries in West Asia and Africa, some majors are
also looking at the US and Europe. Arvind Brands, Madura Garments, Spykar Lifestyle and
Royal Classic Polo are busy chalking out foreign expansion plans through the distribution route
and standalone stores as well. Another denim wear brand, Spykar, which is now moving towards
becoming a casualwear lifestyle brand, has launched its store in Melbourne recently. It plans to
open three stores in London by 2008-end.
The low-intensity entry of the diversified Mahindra Group into retail is unique because it plans
to focus on lifestyle products. The Mahindra Group is the fourth largest Indian business group to
enter the business of retail after Reliance Industries Ltd, the Aditya Birla Group, and Bharti
Enterprises Ltd. The other three groups are focusing either on perishables and groceries, or a
range of products, or both.

REI AGRO LTD Retail: 6TEN and 6TEN kirana stores

Future Groups-Formats: Big Bazaar, Food Bazaar, Pantaloons, Central, Fashion Station,
Brand Factory, Depot, aLL, E-Zone etc.

Raymond Ltd.: Textiles, The Raymond Shop, Park Avenue, Park Avenue Woman, Parx,
Colourplus, Neck Ties & More, Shirts & More etc.

Fabindia: Textiles, Home furnishings, handloom apparel, jewellery

RP-Sanjiv Goenka Group Retail-Formats: Spencers Hyper, Spencers Daily, Music

World, Au Bon Pain (Internaional bakery cafeteria), Beverly Hills Polo Club

The Tata Group-Formats: Westside, Star India Bazaar, Steeljunction, Landmark, Titan
Industries with World of Titans showrooms, Tanishq outlets, Croma.

Reliance Retail-Formats: Reliance MART, Reliance SUPER, Reliance FRESH, Reliance

Footprint, Reliance Living, Reliance Digital, Reliance Jewellery, Reliance Trends,
Reliance Autozone, iStore

Reliance ADAG Retail-Format: Reliance World

K Raheja Corp Group-Formats: Shoppers Stop, Crossword, Hyper City, Inorbit Mall

Nilgiris-Formats: Nilgiris supermarket chain

Marks & Spencer: Clothing, lifestyle products, etc.

Lifestyle International-Lifestyle, Home Centre, Max, Fun City and International

Franchise brand stores.

Pyramid Retail-Formats: Pyramid Megastore, TruMart

Next retail India Ltd (Consumer Electronics

Vivek Limited Retail Formats: Viveks, Jainsons, Viveks Service Centre, Viveks Safe
Deposit Lockers

PGC Retail -T-Mart India, Switcher , Respect India , Grand India Bazaar ,etc.,

Subhiksha-Formats: Subhiksha supermarket pharmacy and telecom discount chain.

Trinethra- Formats: Fabmall supermarket chain and Fabcity hypermarket chain

Vishal Retail Group-Formats: Vishal Mega Mart

BPCL-Formats: In & Out

German Metro Cash & Carry

Shoprite Holdings-Formats: Shoprite Hyper


Paritala stores bazar: honey shine stores

Aditya Birla Group More Outlets

Kapas- Cotton garment outlets

Nmart Retails

Entry of MNC
The worlds largest retailer by sales, Wal-Mart Stores Inc and Sunil Mittals Bharti Enterprises
have entered into a joint venture agreement and they are planning to open 10 to 15 cash-andcarry facilities over seven years. The first of the stores, which will sell groceries, consumer
appliances and fruits and vegetables to retailers and small businesses, is slated to open in north
India by the end of 2008.
Carrefour, the worlds second largest retailer by sales, is planning to setup two business entities
in the country one for its cash-and-carry business and the other a master franchisee which will
lend its banner, technical services and know how to an Indian company for direct-to-consumer
The worlds fifth largest retailer by sales, Costco Wholesale Corp (Costco) known for its
warehouse club model is also interested in coming to India and waiting for the right opportunity.
Opposition to the retailers plans have argued that livelihoods of small scale and rural vendors
would be threatened. However, studies have found that only a limited number of small vendors
will be affected and that the benefits of market expansion far outweigh the impact of the new
Tesco Plc., plans to set up shop in India with a wholesale cash-and-carry business and will help
Indian conglomerate Tata group to grow its hypermarket business
A McKinsey study claims retail productivity in India is very low compared to international peer
measures. For example, the labor productivity in Indian retail was just 6% of the labor
productivity in United States in 2010. Indias labor productivity in food retailing is about 5%
compared to Brazils 14%; while Indias labor productivity in non-food retailing is about 8%
compared to Polands 25%.

Total retail employment in India, both organized and unorganized, account for about 6% of
Indian labor work force currently most of which is unorganized. This about a third of levels in
United States and Europe; and about half of levels in other emerging economies. A complete
expansion of retail sector to levels and productivity similar to other emerging economies and
developed economies such as the United States would create over 50 million jobs in India.
Training and development of labor and management for higher retail productivity is expected to
be a challenge.
To become a truly flourishing industry, retailing in India needs to cross the following hurdles:

Automatic approval is not allowed for foreign investment in retail.

Regulations restricting real estate purchases, and cumbersome local laws.

Taxation, which favours small retail businesses.

Absence of developed supply chain and integrated IT management.

Lack of trained work force.

Low skill level for retailing management.

Lack of Retailing Courses and study options

Intrinsic complexity of retailing rapid price changes, constant threat of product

obsolescence and low margins.

In November 2011, the Indian government announced relaxation of some rules and the opening
of retail market to competition.
Indian Retail Reform
Until 2011, Indian central government denied foreign direct investment (FDI) in multi-brand
Indian retail, forbidding foreign groups from any ownership in supermarkets, convenience stores
or any retail outlets, to sell multiple products from different brands directly to Indian consumers.
The government of Manmohan Singh, prime minister, announced on 24 November 2011 the


India will allow foreign groups to own up to 51 per cent in multi-brand retailers, as
supermarkets are known in India, in the most radical pro-liberalisation reform passed by
an Indian cabinet in years;

single brand retailers, such as Apple and Ikea, can own 100 percent of their Indian stores,
up from the previous cap of 51 percent; both multi-brand and single brand stores in India
will have to source nearly a third of their goods from small and medium-sized Indian

all multi-brand and single brand stores in India must confine their operations to 53-odd
cities with a population over one million, out of some 7935 towns and cities in India. It is
expected that these stores will now have full access to over 200 million urban consumers
in India;

multi-brand retailers must have a minimum investment of US$100 million with at least
half of the amount invested in back end infrastructure, including cold chains,
refrigeration, transportation, packing, sorting and processing to considerably reduce the
post harvest losses and bring remunerative prices to farmers;

the opening of retail competition will be within Indias federal structure of government.
In other words, the policy is an enabling legal framework for India. The states of India
have the prerogative to accept it and implement it, or they can decide to not implement it
if they so choose. Actual implementation of policy will be within the parameters of state
laws and regulations.

The opening of retail industry to global competition is expected to spur a retail rush to India. It
has the potential to transform not only the retailing landscape but also the nations ailing
infrastructure. A Wall Street Journal article claims that fresh investments in Indian organized
retail will generate 10 million new jobs between 2012-2014, and about five to six million of
them in logistics alone; even though the retail market is being opened to just 53 cities out of
about 8000 towns and cities in India.
It is expected to help tame stubbornly high inflation but is likely to be vehemently opposed by
millions of small retailers, who see large foreign chains as a threat. The need to control food
price inflation averaging double-digit rises over several years prompted the government to

open the sector, analysts claim. Hitherto Indias food supplies have been controlled by tens of
millions of middlemen (less than 5% of Indian population). Traders add huge mark-ups to farm
prices, while offering little by way of technical support to help farmers boost their productivity,
packaging technology, pushing up retail prices significantly. Analysts said allowing in big
foreign retailers would provide an impetus for them to set up modern supply chains, with
refrigerated vans, cold storage and more efficient logistics.
Market Size
India's retail sector is worth US$ 350 billion and is growing at a compound annual growth rate
(CAGR) of 15 per cent to 20 per cent at present, as per a PricewaterhouseCoopers (PwC)
research report titled, 'Winning in India's retail sector: Factors for Success'.
Mass grocery and apparel are the two most favoured segments for foreign direct investment
(FDI) in multi-brand retail in India, according to a study titled 'Indian Retail Market-Opening
More Doors' by Deloitte Touche Tohmatsu India.
The FDI inflows in single-brand retail trading during April 2000 to December 2012 stood at US$
42.70 million, as per the data released by Department of Industrial Policy and Promotion (DIPP).
The Indian retailers are using a mix of formats, of which a relatively new but rapidly growing
retail format is the online channel, which offers consumers convenience, price benefits and the
ability to shop around the clock. Though in a nascent stage, India's online retail market is
growing at double-digit rates and is likely to be the next format that retailers will incorporate into
their array of channels.
The Indian digital consumer industry, e-tailing is set to become a Rs 53,000 crore (US$ 9.71
billion) market by 2015 from the current Rs 3,600 crore (US$ 659.34 million), as per a
November report by Avendus Capital Pvt Ltd.

47, an online education company is planning to extend its franchise network across
India. The company aims to open more than 50 centers in the coming year. The focus of such
expansion will be metro cities, tier I and tier II cities.
Retail in Rural India
Rural chains in India are focussing on hinterlands in a big way. For many companies, a large
portion of their revenues comes from rural sales. The companies thus are aligning their
marketing strategies in accordance to the requirements of their customers in rural areas.
Turtle, one of India's leading men's lifestyle brands unveiled their limited edition collection of
Khadi menswear with the theme "Ecological Weave". This is an initiative which not only hopes
to revive the khadi industry and the livelihood of its weavers and their families in rural India, but
is also poised to revolutionalise menswear fashion.

The retail rush11 Reliance Fresh neighbourhood convenience stores will be launched first in
Hyderabad These stores will be set up soon in Mumbai and Delhi where Reliance has identified

up to 80 locations each RIL is also setting up Ranger Farms outlets that will specifically
service vegetable vendors Ranger outlets will open at 2 a.m. and continue selling produce to
vendors till 9 a.m.
Reliance Fresh falls under Reliance Industries. It is the first retail venture of the Group. The
company offers fresh fruits and vegetables, staples, groceries, fresh juice bars, FMCG products
and dairy products and non-vegetarian items.Reliance Fresh Limited operates food retail outlets.
The company was incorporated in 1999 and is based in Navi Mumbai, India. Reliance Fresh
Limited operates as a subsidiary of Reliance Industries Limited.
According to the Individual - Audited financial statement for the Year of 2011, total net operating
revenues increased with 38.71%, from INR 2,085.39 tens of millions to INR 2,892.64 tens of
millions. Operating result decreased from INR -150.72 tens of millions to INR -482.35 tens of
millions which means -220.03% change. The results of the period decreased -155.86% reaching
INR -345.82 tens of millions at the end of the period against INR -135.16 tens of millions last
year. Return on equity (Net income/Total equity) went from -32.82% to -32935.24%, the Return
On Asset (Net income / Total Asset) went from -8.00% to -7.27% and the Net Profit Margin (Net
Income/Net Sales) went from -6.48% to -11.96% when compared to the same period of last year.
The Debt to Equity Ratio (Total Liabilities/Equity) was 453209.52% compared to 510.07% of
last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 3.57 to 3.12
when compared to the previous year.
Full name

Status: Non-Listed

Reliance Fresh Limited

Legal Form: Limited Liability Company


Operational Status: Operational

Building No. 2, Ground Floor, B Wing,

Financial Auditors: SV Ghatalia & Associates

Reliance Corporate Park, NOCIL Complex,


Thane Belapur Road, Ghansoli; Mumbai;

Maharashtra; 400701

Tel: 91 22 4477 0000

Reliance Retail launches Reliance Fresh stores


Reliance Retail Ltd today unveiled its first set of pilot stores in the Pink City - Jaipur. Reliance
Fresh, the first of the formats from Reliance Retail will be opened up for consumers from the
morning of 15th of December.
The five pilot Reliance Fresh stores will be rolled out at Khatipura, Vijaypath -- Mansarover,
Shastri Nagar, Ram Gunj Chopar and Jawahar Nagar and have an area of about 2000 to 3500 sq.
ft. The stores will have an average of about 20 trained sales associates attending to the customers
in each store.
The Reliance Fresh stores will carry fresh fruits and vegetables, staples, top-up grocery and dairy
products. The stores will remain open from 8:00 a.m to 9:00 p.m seven days a week.
Within six weeks of launching the first set of Reliance Fresh stores in Hyderabad, the launch in
Rajasthan is the first launch in North India.
With this launch, Reliance Retail has 22 stores in Hyderabad and Jaipur.
Sunday launched its first retail format called Reliance Fresh in Hyderabad. Spread over 2,0005,000 sq ft, 11 such Reliance Fresh neighbourhood convenience stores will come up in the city
beginning November 3.
These stores will sell fresh fruit and vegetables besides staples (dal, atta, rice) as well the
companys in-house brand, Reliance Select
RIL is targeting not only the households but also streetside vegetable sellers. According to
sources, RIL is setting up Ranger Farms outlets that will specifically service streetside
vegetable sellers who can stock up on fresh farm produce.
The Ranger outlets will open at 2 a.m. and continue selling produce to vendors till 9 a.m. The
Ranger format is something in the lines of German major Metro Cash & Carrys operations in
India. But while Metro targets larger retailers such as restaurant chains and bulk consumers, RIL
is expected to forge a relationship with streetside vegetable sellers through the Ranger concept. It


is not yet clear whether separate outlets will be opened for Ranger Farm or the existing Fresh
outlets will function as Farms by the night.
Guninder Kapoor, president and CEO of Food Business at RIL, says the Fresh stores at
Hyderabad are part of a pilot project. This is a pilot project which will help us understand
customer needs. The pilot for this format will be taken to many other cities over the next few
Next on the companys list are bigger cities, including Delhi and Mumbai.
RIL has already said that it will invest close to Rs 25,000 crore over the next five years in the
retail business. The company plans to establish 4,000 retail outlets across various formats by
then, and is eyeing sales of Rs 1,00,000 crore over the five-year period from the retail business.
Besides Reliance Fresh, the company also plans to launch larger format stores called Feel Fresh
Plus which will be spread over 10,000-15,000 sq ft. The Fresh Plus stores will stock fruit and
vegetables as well as apparel, consumer electronics, FMCG items and even medicines.
From Hyderabad, these stores will travel to Mumbai and Delhi where Reliance has identified up
to 80 locations each.
But even as the retail debut kicks off with fruit and vegetables, it seems the company is doing a
rethink on whether to get into the larger formats such as hypermarkets and
supermarkets. These two formats require over 1 lakh sq ft of space and may not come up at
prime city locations. Instead, Reliance is contemplating tapping alterative sites such as the SEZs
for opening hypermarkets.
The retail rush11 Reliance Fresh neighbourhood convenience stores will be launched first in
Hyderabad These stores will be set up soon in Mumbai and Delhi where Reliance has identified
up to 80 locations each RIL is also setting up Ranger Farms outlets that will specifically
service vegetable vendors Ranger outlets will open at 2 a.m. and continue selling produce to
vendors till 9 a.m.

Company plans to establish 4,000 retail outlets across various formats in the country
The Reliance Fresh retail rush is on. The company opened six more stores at Saket,
Dilsukhnagar, Bowenpally, Vengalraonagar, Miyapur and Uppal, taking the total to 17 in the city.
According to company sources, "It is an ongoing process and only six more stores have been
opened. But when we reach a substantial figure, we will definitely come out in a big way."
The sources said that the 17 stores put together have been averaging around Rs 15-16 lakh daily
and around 800-1,200 footfalls daily.
The six stores with a size of 2,500-4,000 sq ft each made around Rs 6.5 lakh in the first one
week, he added. In the first phase, the company opened 11 pilot stores on November 3, offering
fresh vegetables, fruits, flowers and grocery items. It plans to touch a figure of 40 stores in the
twin cities in the coming days.
VISAKHAPATNAM : Reliance Retail Ltd., on Monday opened its first set of three pilot stores in
the steel---port city at China Waltair, Murali Nagar and MVP Colony.
Talking to media persons at the China Waltair store on the occasion, its' customer operations
head, K.S. Venugopal, said Reliance Fresh would carry fresh fruits and vegetables, staples, topup grocery, non-food items and dairy products and a whole lot of other categories at very
competitive prices. All the stores opened in the city have an average area of about 1,800 sqft and
an average of about 20 sales associates attending to customers in each store open from 8 a.m. to
9 p.m. on all seven days of the week.
"I am glad we are opening about 40 stores in Andhra Pradesh alone by this March end. By June,
we hope to open between 75 and 100 stores in the State on the Fresh format. There are 21 stores
in Hyderabad, and seven in Vijayawada and Guntur bringing the total to 56 excluding the three
opened here," he said.
Vast stock


Replying to questions, Mr. Venugopal said all the stores there were roughly 200 varieties of fruits
and vegetables at the stores . The stock value would be to the tune of Rs.25 lakhs on the average.
Apart from the fresh vegetable and fruits procured within 50 km. of the stores, there were also
many varieties from elsewhere in the State and country and imported apples from the US, grapes
from California, and other parts of the world, he said.
On the forenoon of the inaugural day, the sales were to the tune of Rs.2 lakhs in all three stores,
chief manager (Corporate Communications) of the company Sreenath N.C. said. The vegetables
and fruits at China Waltair stores were fresh and inviting and some were priced less than city
market rates. A striking example is Bangalore black grapes that were sold at Rs.19 a kg. The
seedless black grapes were sold at Rs.42 a kg.
Competitive rates
And vegetables too were at highly competitive rates, with onions sold at 50p less than open
market rates at Rs.15.50 a kg. for a quality variety. Cabbage was priced Rs.6.90, cauliflower at
Rs.6.75, cu-ber Rs.8.90, beetroot Rs.9.90, yam (kanda) Rs.8.90, carrot Rs.10.50, green chillies
Rs.15 and ash gourd Rs.7.70 for a kg. There are also quite a few varieties of the same vegetable like in the case of brinjal long priced Rs.12.50, brinjal giant black Rs.25, brinjal purple Rs.12.50
a kg. And, baby (small round ones) potato is sold at Rs.7, potato economy Rs.5.50 and potato
premium at Rs.6.50 a kg.



Data Analysis
A) 18-25
18 25

B) 25-40

C) 40-60

D) 60 and above



25 40
40 60
60 & Above



From the above table & graph we can state that 35% respondents are from the age group of 1825, 45% respondents are from the age group of 25-40, 13% respondents are from the age group
of 40 60, 7% respondents are from the age group of above 60

A) Male

B) Female



From the above table & graph we can state that most of visitors for the reliance fresh are female
and the respondents are 55%, male respondents are 45%.

Family Income
A) 8 K - 10 K

B) 10K - 20 K

8k 10k
10k 20k
20k 40k
Above 40K

C) 20K - 40K

D) > 40K



From the above table & graph we can state that 40% of respondents are earning 20k-40k, 36% of
respondents are eraning 10k-20k, 18% of the respondents are earning above 40k, 6% of the
respondents are earning 8k-10k

A) Government Job

B) working in private sector C) Own Business

Government Job
Working in Private sector
Own Business



D) Retired

From the above table & graph we can state that 35% & 35% of responents are from private jobs
& Own business, 20% responents are from governmnt job, rest are retired persons

From how many years you are using services offered by Reliance fresh?
a. 0-2 Years

b. 2-4 Years

More than 4years

c. More than 4 Years




From the above table & graph we can state that 35% of the respondents are using the services of
reliance fresh from 0 2 years, 45% of the respondents are using the services of reliance fresh
from 2 4 years, 20% of the respondnents are using the services of reliance fresh for more than

Rate your overall satisfaction with the services provided by Reliance fresh?
a. Highly Satisfied b. Satisfied c. dissatisfied d. Highly dissatisfied e. moderate
Satisfaction level
Highly satisfied
Highly dissatisfied




From the above table & graph we can interpret that 48% of the respondents are highly satisfied
with the reliance fresh, 36% of the respondents are only satisfied with reliance fressh, & rest of
them are dissatisfied, Highly dissatisfied, & moderate

Are you satisfied with the quality of products which is been delivered in the reliance stores?
a. Yes

b. No

Satisfied with Quality







From the above table & graph we can interpret that most of the respondents are satisfied with the
quality of products delivered, only less no of respondents are not satisfied with the quality

Do they entertain queries in a proper manner?

a. Yes

b. No

Entertain queries













From the above we can interpret that 905 of te respondents says that reliance fresh will entertain
the queries & 10% of the respondents says that relaince fresh will not entertain the the queries

How do you rate the process of billing system in reliance fresh?


b.Very Good

Satisfaction level
Very good

c. Good


d. Average

e. Bad

From the above table & graph we can interpret that 42% of the respondents says excellent, 32%
of the respondents says it is very good, 16% of the respondents says it is good, 8% of the
respondents says it is average, 2% of the respondents says it is poor

Are you satisfied with the range of Products & Services ?

a. Yes

b. No



From the above table & graph we can interprete that most of he customers are satisfied with the
range of products & services provided by the reliance fresh

Do they provide full information of the offers offered by the different products?
a. Yes

b. No



From the above tble & graph we can interpret that 94% of the respondentssays reliance fresh
provides full information about the offers offered by them, & rest of the respondets say No

Do you find their charges nominal as compared to other competitors?

a. Yes

b. No



From the above table & graph we can interpret that 82% of the respondents says that charges in
the reliance fresh are nominal. & rest of the respondents says that charges in the reliance fresh
are very high

Do they provide any discount on bulk purchase from the store?

a. Yes

b. No



From the above table & graph we can interpret that 99% of the respondents says that Yes there
will be discounts on the bulk purchases, 1% respondents says that no tere will not be any discont
on bulk offeres

Do they give certain attractive offers?

a. Yes
Attractive offeres

b. No



From the above table & graph we can interpret that 96% respondents says that reliance fresh will
offer attractive offeres to attract the customer, only 4% respondents says that no

Does the store inform you about the new products & services which will be launched in the
a. Yes

b. No



From the above table & graph we can interpret that 84% of the respondents says yes & 16% of
the respondents says no

Do you think the reliance fresh identify and resolve problems of the associated with products &
a. Yes

b. No



From the above table & graph we can interpret that 55% of te respondents says no for the
reliance fresh identify and resolve problems of the associated with products & services, 45% of
the respondents says yes for reliance fresh identify and resolve problems of the associated with
products & services

Do you think Reliance fresh is maintaining good customer relations through its services?
a. Yes

b. No



From the above table & graph we can interpret that 68% of the respondents says yes Reliance
fresh are maintaining good customer relations through its services, 32% of the respondents says
no Reliance fresh is maintaining good customer relations through its services



1. 35% respondents are from the age group of 18-25, 45% respondents are from the age
group of 25-40, 13% respondents are from the age group of 40 60, 7% respondents are
from the age group of above 60

Most of visitors for the reliance fresh are female and the respondents are 55%, male
respondents are 45%.


3. 40% of respondents are earning 20k-40k, 36% of respondents are eraning 10k-20k, 18%
of the respondents are earning above 40k, 6% of the respondents are earning 8k-10k
4. 35% & 35% of responents are from private jobs & Own business, 20% responents are
from governmnt job, rest are retired persons
5. 35% of the respondents are using the services of reliance fresh from 0 2 years, 45% of
the respondents are using the services of reliance fresh from 2 4 years, 20% of the
respondnents are using the services of reliance fresh for more than 4years
6. 48% of the respondents are highly satisfied with the reliance fresh, 36% of the
respondents are only satisfied with reliance fressh, & rest of them are dissatisfied, Highly
dissatisfied, & moderate
7. most of the respondents are satisfied with the quality of products delivered, only less no
of respondents are not satisfied with the quality delivered
8. 905 of te respondents says that reliance fresh will entertain the queries & 10% of the
respondents says that relaince fresh will not entertain the the queries
9. 42% of the respondents says excellent, 32% of the respondents says it is very good, 16%
of the respondents says it is good, 8% of the respondents says it is average, 2% of the
respondents says it is poor
10. most of he customers are satisfied with the range of products & services provided by the
reliance fresh
11. 94% of the respondentssays reliance fresh provides full information about the offers
offered by them, & rest of the respondets say No

12. 82% of the respondents says that charges in the reliance fresh are nominal. & rest of the
respondents says that charges in the reliance fresh are very high
13. 99% of the respondents says that Yes there will be discounts on the bulk purchases, 1%
respondents says that no tere will not be any discont on bulk offeres
14. 96% respondents says that reliance fresh will offer attractive offeres to attract the
customer, only 4% respondents says that no
15. 84% of the respondents says yes & 16% of the respondents says no
16. 55% of te respondents says no for the reliance fresh identify and resolve problems of the
associated with products & services, 45% of the respondents says yes for reliance fresh
identify and resolve problems of the associated with products & service
17. 68% of the respondents says yes Reliance fresh are maintaining good customer relations
through its services, 32% of the respondents says no Reliance fresh is maintaining good
customer relations through its services

From this study it can be concluded that the customer relationship management in Company is
satisfactory. The company is using various CRM practices like customization of the product,

maintaining interaction with the customers regularly and providing good quality product etc.
Customer relationship management has a certain impact on the profitability of the company.
Average sale per customer has increased 15% over the last two years. Customer response rate
towards marketing activities is also improving. There are various factors affecting the customer
relationship management like working environment of the company, support from top
management and coordination among the departments of the company. Information technology is
not used as much as it should be. The company is using traditional tools of CRM like
quantitative research, personal interviews. The company should modern tools like data mining,
contact center, e-CRM and web based survey tools.


There should be more and more emphasis given by the company for satisfying the
customer up to a apex limit and by providing the utility of every penny of his money.

There should be more use of information technology.

The company should be flexible to bend its rules and procedures in the clients favour.

The company can communicate and develop stronger customer bonding by providing
social and financial benefits.



This is Project Report on Customer Relationship Management [CRM]

Personal Details
Name :
A) 18-25

B) 25-40

C) 40-60

D) 60 and above

A) Male

B) Female

Family Income
A) 8 K - 10 K

B) 10K - 20 K

C) 20K - 40K

D) > 40K

A) Government Job

B) Working in private sector

C) Own Business

D) Retired

Q1. From how many years you are using services offered by Reliance fresh?
a. 0-2 Years

b. 2-4 Years

c. More than 4 Years

Q2. Rate your overall satisfaction with the services provided by Reliance fresh?
a. Highly Satisfied b. Satisfied c. Some what satisfied d. Highly dissatisfied e. moderate
Q3. Are you satisfied with the quality of products which is been delivered in the reliance stores?
a. Yes

b. No

Q4. Do they entertain queries in a proper manner?

a. Yes

b. No

Q5. How do you rate the process of billing system in reliance fresh?

b.Very Good

c. Good

d. Average

Q6. Are you satisfied with the range of Products & Services ?
a. Yes

b. No

e. Bad

Q7. Do they provide full information of the offers offered by the different products?
a. Yes

b. No

Q8. Do you find their charges nominal as compared to other competitors?

a. Yes

b. No

Q9. Do they provide any discount on bulk purchase from the store?
a. Yes

b. No

Q10. Do they give certain attractive offers?

a. Yes

b. No

Q11. Does the store inform you about the new products & services which will be launched in the
a. Yes

b. No

Q12. Do you think the reliance fresh identify and resolve problems of the associated with
products & services?
a. Yes

b. No

Q13. Do you think Reliance fresh is maintaining good customer relations through its services?
a. Yes

b. No



1. David L Loundon and Albert J Della Bitta, Consumer Behavior, 4/e, TMH, New Delhi,
2. Phillip Kotler : Marketing Management, 11/e, Pearson, 2007.

3. Phillip Kotler and Kelvin Lane Marketing Management 12th Ed Pearson Education 2007.
4. Schiffman, L.G and Kanuk L.L Consumer Behavior, 8/e, Pearson Education, 2007.
5. V.S. Ramaswamy and S.Namakumari : Marketing Management, 2007.
What consumers Really think, 2004, white paper,

1. Indian Journal of MARKETING, Volume: 40; June 2010; Number 6; page no. 40.
2. Journal of Management Research. Volume 8; December 2008; Number 3; page no.162.