Customer Relationship Management Practices in Automobile sector-A Study of Passenger car buyers in Bengaluru

Abstract

CRM or Customer Relationship Management is the set of practices that involve companies to manage their relationships with their customers. The major aim of such an approach is to engage with customers more thoroughly and understanding their expectations from the car companies. The CRM model can prove to be an excellent marketing approach especially for the automobile industry. It is because this industry is a very lucrative industry but also very slow because people buy automobiles only after a certain period of time so it is important for companies to provide them with the best experiences so that they wouldn't think about switching brands the next time they purchase an automobile. A sample of 322 people from the automobile sector was surveyed to know the role and significance of different customer relationship management practices in the automobile sector. Factor analysis was applied to get the appropriate results. It is found in the present study that there are different customer relationship management practices in automobile sector like Operational Customer Relationship Management, Analytical Customer Relationship Management, Strategic Customer Relationship Management, and Collaborative Customer Relation and they play a significant role in the automobile sector.