Customer satisfaction has been the main ingredient in persuading corporate objectives and goals. However, the current environment of intense competition was fostered by globalization and liberalization across the economy and the rising expectations for value, service and quality and promoting a number of organizations . There is a need for organizing the business organization across the customers being served, instead of in terms of the geographic business units or product lines. As per Philip, CRM shows concern with the management of detailed information regarding the touch points of customer and the individual customers for maximizing the scope of customer loyalty. This can be referred to as aligning the technology, processes and strategy for the management of customer and all partners and departments facing the customers. When considered in the shorter terms, CRM is regarding the profitable and effective management of customer relationships throughout the cycle of business life .
In this context, CRM plays a crucial role to provide better services to the consumers and develop effective relationships with the customers. CRM involves the integration of marketing, service, and sales team of the company, while acknowledging the view of individual customers from all perspective in the relationship with customers . The key objective focuses on the establishment of customer equity. Customer equity can be defined as the total lifetime values for each and every customer. The analysts of CRM focus on developing data warehouses and using the techniques of data mining for the development and maintenance of lasting relationships with the customers of significant value.