CUSTOMER RELATIONSHIP MANAGEMENT STRATEGIES AND THERE IMPACT ON CUSTOMER RETENTION OF MARUTI SUZUKI
UNDER THE GUIDANCE OF
Prof. Dr HONEY KANOJIA
ABHISHEK YADAV
22GSOB2011086
SCHOOL OF BUSINESS
GALGOTIAS UNIVERSITY
GREATER NOIDA
ABSTRACT
Maruti Suzuki, a household name synonymous with affordable and reliable cars in India, has consistently enjoyed high customer retention rates. This dominance can be attributed in large part to their strategic implementation of Customer Relationship Management (CRM) practices. This abstract delves into how Maruti Suzuki leverages CRM to cultivate customer loyalty and achieve a significant competitive edge.
The abstract explores the following:
· Data-driven CRM: Maruti Suzuki gathers customer information across various touchpoints, from sales interactions to service visits. Advanced analytics extract valuable insights from this data, enabling them to understand customer needs, preferences, and buying behavior. This empowers them to tailor offerings and personalize communication, fostering a sense of connection with the customer.
· Seamless Customer Journey: Maruti Suzuki prioritizes a smooth customer journey throughout the ownership experience. This is achieved through initiatives like:
o Proactive and personalized communication: Customers receive timely updates on service needs, promotions relevant to their car model, and birthday or anniversary greetings, creating a sense of value and appreciation.
o Widespread service network: Maruti Suzuki boasts an extensive network of service centers, ensuring convenient access to after-sales care. This network emphasizes transparency in service costs and efficient repair processes, building trust and confidence.
· Customer Retention Programs: Maruti Suzuki implements loyalty programs that reward repeat customers with benefits like discounts on parts and service, upgrades, or priority service appointments. These programs incentivize continued ownership and encourage positive word-of-mouth promotion.
The impact of these CRM strategies extends beyond just transactions. By focusing on customer satisfaction and building long-term relationships, Maruti Suzuki fosters brand loyalty. This translates to repeat purchases, reduced customer churn, and a significant competitive advantage in the Indian automobile market.
This abstract provides a glimpse into the strategic use of CRM by Maruti Suzuki. Further analysis could delve deeper into specific CRM tools and technologies employed, measure the effectiveness of these strategies through customer satisfaction metrics, and explore how Maruti Suzuki adapts its CRM approach to stay ahead of the curve in the evolving automotive landscape.
