Effectiveness of Customer Relationship Management Practices at Hyundai Motors

Abstract

Companies constantly strive to increase their profits, but the competition is tough in the market. Businesses try to either keep their existing customers through increased satisfaction, or to win new customers and new market shares in order to reach their objective. The term Customer Relationship Management was developed in the late 1990s, in order to facilitate relationships at the “business to consumer market”. CRM is used as a tool in order to build long term relationships between sellers and buyers. Through this relationship both the company and its customers should receive mutual benefits, such as retention and good service. Hence this paper helps to study the effectiveness of CRM practices and its impact on customer satisfaction at Hyundai motors.