IMPLICATIONS OF CONSUMER BEHAVIORAL FACTORS ON CUSTOMER RELATIONSHIP MANAGEMENT

Abstract

The following paper emphasizes the broad outline of application of consumer behavior especially in the area of marketing. Previously it was taken into consideration that the consumers are the end points of the overall selling- buying process. But through the years this rigid theory exists no more. The whole marketing concept now doesn’t complete by the selling point. It believes that the buying behavior of consumer is the threshold of Customer Relationship Management (CRM). The buying behavior of the consumer is complex in nature since it is influenced by several other factors which are analyzed in the paper. The most critical factor is the Psychological factor of consumer which is again influenced by some key factors. A hypothesis is taken into consideration which states that: The consumer behavior rests on 4 broad factors: Empathy, Reliability, Responsiveness and Assurance. The main limitation of such research work is to get the actual feedback of the consumers & record them accordingly. A case study is made on consumers of Airtel Telecom Services for this purpose and for testing the hypothesis , data has been collected from different customers of different age, sex, income & lifestyle group. The relevance of such testing lies in the fact that if the hypothesis is accepted that there is correlation, then this will lead to a long term relationship between the organization and the customers which in turn will lead to value addition to the organizations as well as the society as whole.