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Customer Relationship Management: The Need of the Hour

In highly competitive market place, the company that has the greatest understanding of their customers' data will be able to respond more quickly to changing circumstances. Today customers are increasingly becoming more sophisticated in their buying behavior. The perspective of customers is shifting from a simple notion of the perceived value of the product or service delivered, to the values that provide the context for the business relationship. The authors in the current paper attempt to understand the CRM Practices, the framework of CRM and how it is emerging as a New Age Mantra.