The relationship management theory is now maturing around streams of relationship management practices from various perspectives such as customer orientation and satisfaction, client and account management, value delivery, and segmentation based on customer profitability as well as other characteristics. It has drawn from various areas such as database marketing, and gone on to predictive analytics for campaign and segment management, and moved to loyalty management practices. It has also drawn from theory in recent times such as the social exchange theory and psychological contract to explain the classic concepts of loyalty behavior s and its antecedents, such as trust and commitment. In emerging markets, these practices have been seen in diverse areas such as small retail stores, to large family organizations, as well as more formal reward and repeat programs, and later loyalty programs over the decades in the professionally managed enterprises. This amalgam needs to be captured to present a holistic view of the CRM practices, in emerging markets such as India. It also needs to be examined with the lenses of modern theory, and cross cultural as well as multi-disciplinary views.
Prof.Amit Mookerjee
Center of Macro Consumer Research,
NCAER,
New Delhi
e-mail: amookerjee@iiml.ac.in
Prof. Qing Wang
Warwick Business School,
UK
e-mail: Qing.Wang@wbs.ac.uk
