Sample Copy. Not For Distribution.Mona Gautam and Dr. Ramesh K. Chaturvedi 10 OF RURAL WOMEN IN INDIA SWOT ANALYSIS OF EMPOWERMENT Abhivyakti Kumari and Dr. Ramesh K. Chaturvedi 192

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Contemporary Research in Management


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© Copyright, 2018, Ramesh Kumar Chaturvedi

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manual, photocopying, recording or otherwise, without the prior written consent of its writer.

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Printed in India


iii

Contemporary Research

in Management

Editor

Ramesh Kumar Chaturvedi,

Ph.D., MBA

EDUCREATION PUBLISHING (Since 2011)

www.educreation.in


iv


v

Preface

This book is intended to fulfill the quest for knowledge for academicians

and person from industry having interest in current research in the field

of Management and Business Administration. The research output is

presented in edited book form carrying chapters on issues researched by

contributors. Few of the area that are covered in the chapters of this book

are issues related to Digital literacy among young students, Consumer

Behavior towards Ayurvedic cosmetic products, Paradigms of marketing

communication discussed in context of brand Community, Adoption of

digital transaction post demonetization in India, Understanding women

empowerment through microfinance. Online buying behavior of

consumers, Care has been taken to ensure present original ideas as

proposed by respective authors, though due to divergence in

interpretation at times it may vary a bit. Editor does not claim the ideas

presented in this book as his own nor it vouches the originality of

research content. Chapters are prepared by respective authors and

submitted for inclusion in this edited book which is edited and reviewed

by subject experts. For academic interest of students, academicians and

industry editor has represented research outcomes in compilation form

through this book. Any error typographical or otherwise is regretted.

Concepts discussed in the book are well recognized in this discipline of

study and attributed to well known references, though not mentioned

exhaustively.

*****


vi

Acknowledgement

Editing book is challenging and arduous task. In course of

completing and editing this book numerous man hours have been

devoted. There were moments when internal light of inspiration

was diminishing. I would like to thank all those who rekindled to

fire within me to complete the book. My head of the department

Prof. MS Khan and faculty members especially Prof. Kushendra

Mishra, Dr. Abhilash Babu, Dr. Taruna and Dr. Lata Bajpai Singh

had been benevolent enough by allowing me to pursue editing this

book and extending all possible support. Mr. Ajay Kumar

Srivastava Journalist of fame and associated with Hindustan hindi

daily has been constantly giving important inputs to compile the

book. Mr. Digvijay Pratap Singh has provided all necessary IT and

DPT support for editing and formatting the contents of the book.

My family specially My Mother, Father, Wife and son Rishi has

stood by me and constantly inspired to serve the academia,

students and industry by presenting this edited book. I specially

thank my mentor and guide Prof. Sanjay Medhavi for endowing

capabilities to contribute to academia which is channelized through

this book. Finally I thank almighty GOD for giving me courage to

take up and complete this book.

*****


vii

About the Editor

Dr. Ramesh Kumar Chaturvedi

Ph.D. (Business Administration), MBA, MA (Pub. Admin.), B.Sc.

(Hons., Electronics and Instrumentation), MDSE, UGC-NET/JRF

(Management).

Assistant Professor, Department of Rural Management,

Babasaheb Bhimrao Ambedkar University, (Central University),

Lucknow, UP, India

Dr. Ramesh Kumar Chaturvedi is Electronics and Instrumentation

graduate from Mumbai University, MBA from Mahatma Gandhi

Kashi Vidyapeeth and MA in Public administration from

Pondicherry University. He has earned Ph.D. in discipline of Retail

and Consumer Behaviour at Dept. of Business Administration,

University of Lucknow. He has also completed a certification

program on Management of MFI’s from IIM, Lucknow. Along

with Nine years of experience in academics, he also possesses five

years work experience of corporate world. He has more than

twenty publications of research papers, some of them refereed and

indexed with impact factor. He has made many presentations in

national and international seminars as part of his academic

achievement and received best paper presenter award twice. His

other book on ‘Marketing Management - A contemporary

approach’ is well referred by students of various universities. He

has interest in subjects like Strategic Management, Marketing and

Business Research Methods.

*****


viii

About the Book

This is an edited book that contains the chapters contributed by

budding researchers. The works reported by these researchers are

mostly outcome of their research dissertation submitted for award

of higher research qualifications. Dynamics in the business

environment warrants managers to be abreast of latest changes

happening around it that has potential to impact the business. Some

of the forces in the environment put detrimental impact where as

others bring new opportunities. Being aware of these opportunities

is essential to be competitive and develop sound strategy. Further

being knowledgeable of potential threats in the environment allows

taking proactive steps to mitigate the risks. Scanning the

environment and collecting relevant information are important

steps to understand the environment. Academic researches provide

much needed information to industry through their research

outputs. Though academic research is fundamental by nature, yet

managers could get deep insights about changes happening in the

business environment, expectations of consumers and stakeholders

etc. This book presents compilation in form of chapters of some

latest research conducted by young academic researchers in field

of business and management studies. These researches can prove

to be vital for practicing managers by simplifying decision making.

The researches presented in this book are from diverse areas and

cover wide range of contemporary issues. The book is intended to

serve both academic as well as industrial application.

*****


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INDEX

SR.

CHAPTER NAME

AUTHORS

PAGE

1

A STUDY OF CUSTOMER RELATIONSHIP

MANAGEMENT (CRM): OPPORTUNITIES

& CHALLENGES

Prof. (Dr.) M.S. Khan and Sonakshi Singh

1

2

UNEMPLOYMENT, UNDER

EMPLOYMENT AND ITS EFFECTS

Dr. Lata Bajpai Singh

14

3

A STUDY ON DIGITAL FINANCIAL

LITERACY OF UNIVERSITY STUDENT IN

LUCKNOW

Rahul Kanaujiya and Prof. MS Khan

29

4

A STUDY OF CONSUMER BEHAVIOR

TOWARDS HIMALAYA AYURVEDIC

COSMETIC PRODUCTS IN LUCKNOW

CITY

Laxmi Narayn Ydava and Dr. Abhilash Babu

56


x

5

BRAND COMMUNITY: A PARADIGM OF

MARKETING COMMUNICATION

Nikhil Verma and Prof. Kushendra Mishra

73

6

IMPACT OF POST-DEMONETIZATION ON

ADAPTATION OF DIGITAL TRANSACTION BY

THE LUCKNOW’S YOUTH: AN EMPIRICAL

STUDY

Rahul Singh Gautam and Prof. Kushendra Mishra

97

7

STRATEGY OF CONSUMER BUYING

BEHAVIOR TOWARD ONLINE

MARKETING WITH SPECIAL

PREFERENCE TO FLIPKART &

SNAPDEAL

Rahul Singh Gautam and Prof. Kushendra

Mishra

127

8

IMPACT OF MICRO FINANCE ON

WOMEN EMPOWERMENT IN

LUCKNOW REGION

Shruti Gupta and Dr. Ramesh Kumar Chaturvedi

154

9

UNDERSTANDING THE IMPORTANCE

OF SEO IN DIGITAL MARKETING

Mona Gautam and Dr. Ramesh K. Chaturvedi

182

10

SWOT ANALYSIS OF EMPOWERMENT

OF RURAL WOMEN IN INDIA

Abhivyakti Kumari and Dr. Ramesh K. Chaturvedi

192


xi

11

WOMEN IN CORPORATE GOVERNANCE:

PERSPECTIVES FROM GENDER

DIVERSITY, SOCIAL AND BUSINESS

ETHICS

Pratiksha Mishra and Dr. Taruna

200


xii



1

CHAPTER - 1

A STUDY OF CUSTOMER RELATIONSHIP

MANAGEMENT (CRM):

OPPORTUNITIES & CHALLENGES

Prof. (Dr.) M.S. Khan1

Sonakshi Singh2

ISBN: 978-93-88381-81-9

1. Professor, Department of Rural Management, Babasaheb

Bhimrao Ambedkar University (A Central University), Lucknow,

India.

2. M.Phil. Scholar, Department of Rural Management, Babasaheb

Bhimrao Ambedkar University (A Central University), Lucknow,

India.

Abstract

Customer relationship management (CRM) is a combination of

people, processes and technology that seeks to understand a

company's customers. In the case of CRM this is achieved mainly

by providing a better service to your customers than your

competitors. CRM not only improves the service to customers

though; a good CRM capability will also reduce costs, wastage,

and complaints Effective CRM also reduces staff stress, because

attrition - a major cause of stress – reduces as services and

relationships improved CRM enables instant market research as

well: opening the lines of communications with customers gives

direct constant market reaction to the products, services and

performance, far better than any market survey. Good CRM also



2

helps to grow business. Companies that successfully implement

CRM will reap the rewards in customer loyalty and long run

profitability. However, successful implementation is elusive to

many companies, mostly because they do not understand that CRM

requires company-wide, cross-functional, customer-focused

business process re-engineering. Managing a successful CRM

implementation requires an integrated and balanced approach to

technology, process, and people. Customers stay longer; customer

churn rates reduce; referrals to new customers increase from

increasing numbers of satisfied customers; demand reduces on fire-

fighting and trouble-shooting staff, and overall the organization’s

service flows and teams work more efficiently and more happily.

My research paper will attempt to find out the relevance of CRM

for the better and smooth functioning of corporate sector .this

paper will further explore the opportunities of CRM for corporate

sectors & will also attempt to find out the major challenges that

may come in the way of successful implementation of CRM. By

virtue of the outcome of this research paper corporate sector will

gain maximum benefits and will touch a greater height. My

research paper is deductive in nature as the data have been

collected mostly from secondary sources.

Key-Words: Customer Relationship Management, Business,

Organization.

Introduction

Customer Relationship Management (CRM) is one of the newest

innovations in customer service. CRM stands for customer

relationship management and helps the management and customer

service staff, scope with customer concerns and issues. Customer

Relationship Management is an upright concept or strategy to

solidify relations with customers and at the same time reducing

cost and enhancing productivity and profitability in business. An

ideal CRM system is a centralized collection all data sources under



3

an organization and provides an automatic real time vision of

customer information. A CRM system is vast and significant, but it

can be implemented for small business, as well as large enterprises.

Usually an organization consists of various departments which

predominantly have access to customer’s information either

directly or indirectly. A CRM system piles up this information

centrally, examines it and then makes it addressable within all the

departments. For instance, an international call center which uses a

CRM tool called ”XYZ” and is integrated with a phone and a

computer system or a laptop. Now this system automatically

perceives which customer is calling before the executive attends

the phone, the CRM system brings forth the customer details on

the computer or laptop screen and also indicates what the

opportunity of deals is with that particular customer, what the

customer had already purchased or ordered in past and what is the

probability of buying in future. Not only this, it also highlights

what all products best suit this customer. For finance department it

may show the information regarding the current balance and for

accounting department it may pop out the information regarding

the recent purchases by the customer. All these pieces of data are

stored in the CRM database and are available as and when it is

needed. CRM system is a well-defined platform for all business

units to interact with their clients and fulfill all their needs and

demands very effectively and to build sustainable relationship. A

CRM system is implemented or integrated but once it’s

accomplished, it serves the best way in dealing with customers. In

turn customers feels gratitude of self-satisfaction and loyalty which

results in better bonding with supplier and hence increasing the

business. A CRM system is not only used to deal with the existing

customers but is also useful in acquiring new customers. The

process first starts with identifying a customer and maintaining all

the corresponding details into the CRM system which is also called

an ‘Opportunity of Business’. The Sales and Field representatives

then try getting business out of these customers by sophistically


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Sample Copy. Not For Distribution.Mona Gautam and Dr. Ramesh K. Chaturvedi 10 OF RURAL WOMEN IN INDIA SWOT ANALYSIS OF EMPOWERMENT Abhivyakti Kumari and Dr. Ramesh K. Chaturvedi 192