Customer Relationship Management and the Market Share ( A Study of Formal Retail Businesses)

Abstract

Advancements in the technological environment and the need to improve customer satisfaction have influenced business decision-makers to spend more resources in sustaining their business and profit motive. The main objective of this current study is to determine how customer relationship strategy influences the market share of formal retail businesses. The study employed qualitative research design through desk research methodology to review 69 journals to address the research questions. Data were analyzed using descriptive statistics such as frequency distributions and simple percentages. Findings revealed that sales force automation and customer service solutions have a positive relationship with the market share of retail businesses. The study concluded customer relationship management has a positive relationship with market share. This study recommended that organizations should invest in information technology infrastructure and employ experienced professionals to manage and control to enhance good customer relationships which yield great market share.